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The yellow metal is higher in Asia-Pac.........>

GOLD
GOLD: The yellow metal is higher in Asia-Pac trade, last up $2.06 at $1,335.98.
Gold rose early in the Asia session, despite US Congress passing a temporary
funding bill to reopen the government.
- The BoJ kept all policy unchanged, but tweaked the language around inflation.
The Bank said inflation expectations were broadly unchanged, having previously
said they were weakening slightly. This saw yen strengthen and accelerated a
move lower in the US dollar which helped support gold.
- MNI sources note that further rises in global equity indices, which has pushed
many to record highs, has raised concerns about overbought conditions and an
impending correction which could account for some of the strength in bullion.
- MNI technical analysis sees support at $1321.2 - Hourly support Jan 12,
resistance is seen at $1338.0 - High Jan 19. Gold was rejected ahead of recent
2018 highs last Wed with the sell-off so far lacking follow through and bulls
takin comfort in recovering lost ground. Momentum studies have corrected to
neutral levels but other studies are correcting from O/B.
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