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Overall demand for precious metals continues...>

GOLD
GOLD: Overall demand for precious metals continues to fall, gold last at $1279
in Asia... despite gold making a short comeback rising nearly 1% on the
overnight according to the latest data from the Commodity Futures Trading
Commission (CFTC) gold is seeing it's longest liquidation period in almost 1
year. 
- Stocks are rallying in Asia, the dollar has moved below 8 month highs against
the yen amid uncertainty on progress of proposed tax reform bill and as U.S
President Trump arrives in South Korea where people expect chatter on the N.
Korean crisis.
- MNI Technical analysis sees support at $1274.4 - Hourly resistance Nov 6 now
support and resistance at $1284.1 - High Nov 2. Hesitation ahead of the 200-DMA
continues which is less than ideal for bears as pressure returns to the $1284.1
resistance. Bulls need a close above $1284.1 to shift initial focus to
$1291.1-1296.0 where the 55-DMA is found and above $1306.0 to initially target
$1320.0. Bears continue to look for a close below the 200-DMA to add weight to
their case for a test of the bull channel base ($1252.6).

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