INTERNATIONAL COMMODITY NEWS :
Gold showed a mild rebound in Asia on Friday as U.S. retail sales bolstered physical demand prospects. On the Comex division of the New York Mercantile Exchange, gold futures for February traded at $1,226.40 a troy ounce, up 0.07%, after hitting an overnight session low of $1,216.60 and off a high of $1,233.40. Overnight, gold futures edged lower on Thursday after a cheery report on U.S. retail sales boosted the dollar by keeping expectations firm that the Federal Reserve will begin hiking interest rates in 2015, possibly sooner than markets were once anticipating.The U.S. Commerce Department reported earlier that retail sales rose 0.7% last month, beating expectations for a gain of 0.4%.
TRADING STRATEGY :
BUY GOLD ABOVE 1226.60 TARGET 1231.60 1237.60 SL 1220.60
SELL GOLD BELOW 1223 TARGET 1218 1212 SL 1229
Gold showed a mild rebound in Asia on Friday as U.S. retail sales bolstered physical demand prospects. On the Comex division of the New York Mercantile Exchange, gold futures for February traded at $1,226.40 a troy ounce, up 0.07%, after hitting an overnight session low of $1,216.60 and off a high of $1,233.40. Overnight, gold futures edged lower on Thursday after a cheery report on U.S. retail sales boosted the dollar by keeping expectations firm that the Federal Reserve will begin hiking interest rates in 2015, possibly sooner than markets were once anticipating.The U.S. Commerce Department reported earlier that retail sales rose 0.7% last month, beating expectations for a gain of 0.4%.
TRADING STRATEGY :
BUY GOLD ABOVE 1226.60 TARGET 1231.60 1237.60 SL 1220.60
SELL GOLD BELOW 1223 TARGET 1218 1212 SL 1229
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