INTERNATIONAL COMMODITY NEWS :
Gold prices rebounded in Asia on Tuesday as physical demand bolstered the market. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,152.60 a troy ounce, up 0.18%, after hitting an overnight session low of $1,152.50 and off a high of $1,177.40. Overnight, gold fell on Monday after investors took a fresh take on Friday’s soft October jobs report and determined the data was not weak enough to convince the Federal Reserve to keep policy loose for longer to ensure recovery.
TRADING STRATEGY :
BUY GOLD ABOVE 1156 TGT 1160,1165 SL 1151
SELL GOLD BELOW 1151 TGT 1147,1143 SL 1156
Gold prices rebounded in Asia on Tuesday as physical demand bolstered the market. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,152.60 a troy ounce, up 0.18%, after hitting an overnight session low of $1,152.50 and off a high of $1,177.40. Overnight, gold fell on Monday after investors took a fresh take on Friday’s soft October jobs report and determined the data was not weak enough to convince the Federal Reserve to keep policy loose for longer to ensure recovery.
TRADING STRATEGY :
BUY GOLD ABOVE 1156 TGT 1160,1165 SL 1151
SELL GOLD BELOW 1151 TGT 1147,1143 SL 1156
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