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

GOLD: In commodities, spot gold was closing near $1,273.05 per ounce, after

trading in a $1,267.39 to $1,284.47 range.

- At the peak of dollar selling and safe-haven demand, the precious metal topped

out near $1,292.10 Friday, nearly revisiting 2017 highs.

- On June 6, gold 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.

- 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: Gold is looking a little heavy as support layers give way with

bearish focus now on layers of support $1254.1-1265.2 where 21, 55 & 100-DMAs

and the bull channel base ($1263.3) are located. The $1277.7 resistance is now

key with bulls needing a close above to gain breathing room. A close above 2017

highs remains needed to reconfirm a bullish bias and target $1337.4 Nov monthly

highs.