The yellow metal traded slightly higher in.....>

GOLD: The yellow metal traded slightly higher in early Europe as price moved

from $1289.64-$1291.77 before dropping to intra-day low of $1285.74. The move

lower did not appear to be dollar related and seemed isolated to the precious

metal.

- In the European afternoon gold clawed back some of the earlier losses and rose

from intra-day lows of $1285.74 to $1291.42.

- Price action in the bullion was mainly subdued in the rest of Europe even

though Dxy made a fresh low of 92.67. The move lower in Dxy could be possibly

attributed to euro strength through Eur/Usd rather than dollar weakness and did

not have much of an impact on Gold.

- MNI technical analysis sees support at $1279.0 (low Nov 22) and resistance at

$1297.0 (hourly Nov 17) with price currently sitting at $1288.21.