In commodities, spot gold was closing near.....>

GOLD: In commodities, spot gold was closing near $1,291.50 per ounce, after

trading in a $1,281.50 to $1,292.10 range.

- On June 6, the precious metal posted a high of $1,296.15, but then stalled,

creating a double-top with the $1,295.56 high seen April 17. Subsequently, gold

moved lower as U.S. Treasury yields and the dollar recovered, bottoming July 10

near $1,204.90.

- Last week's break above the June 14 highs near $1,280.77 targeted the early

June gold peaks. If the psychological $1,300 mark gives way, the not topside

target will be $1,337.38, the high seen Nov. 9, in the wake of the U.S.

election.

- OUTLOOK: Support emerging ahead of the 21-DMA ($1258.9) Tuesday provided the

base for a move that has taken out $1280.8 with immediate focus now on 2017

highs. Layers of support continue to build with bears needing a close below

$1270.0 to confirm an easing of bullish pressure and to shift focus back to

$1253.7-1258.9 where key DMAs and the daily bull channel base are situated.