INTERNATIONAL COMMODITY NEWS :
Gold prices eased further in Asia on Wednesday with physical demand cues sought as the year-end holiday season approaches. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery rose traded at $1.229.50, down 0.20%. Expectations of higher borrowing rates going forward are considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise
TRADING STRATEGY :
SELL GOLD BELOW 1225 TARGET 1220 1214 SL 1231
BUY GOLD ABOVE 1234 TARGET 1239 1245 SL 1228
Gold prices eased further in Asia on Wednesday with physical demand cues sought as the year-end holiday season approaches. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery rose traded at $1.229.50, down 0.20%. Expectations of higher borrowing rates going forward are considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise
TRADING STRATEGY :
SELL GOLD BELOW 1225 TARGET 1220 1214 SL 1231
BUY GOLD ABOVE 1234 TARGET 1239 1245 SL 1228
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