INTERNATIONAL COMMODITY NEWS :
Gold prices eased on Monday in Asia as investors focused on the increasing likelihood the Federal Reserve will raise interest rates early next year.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,222.70 a troy ounce, down 0.04%. On Friday, they declined $3.10, or 0.25%, to settle at $1,222.50 a troy ounce. Last week, gold futures dipped modestly on Friday, but still ended the week up nearly 3% as investors sought shelter from steep losses in oil and equity markets, amid lingering fears of a global economic slowdown.
TRADING STRATEGY :
SELL GOLD BELOW 1213 TARGET 1208 1202 SL 1219
BUY GOLD ABOVE 1220.50 TARGET 1225.50 1231.50 SL 1214.50
Gold prices eased on Monday in Asia as investors focused on the increasing likelihood the Federal Reserve will raise interest rates early next year.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,222.70 a troy ounce, down 0.04%. On Friday, they declined $3.10, or 0.25%, to settle at $1,222.50 a troy ounce. Last week, gold futures dipped modestly on Friday, but still ended the week up nearly 3% as investors sought shelter from steep losses in oil and equity markets, amid lingering fears of a global economic slowdown.
TRADING STRATEGY :
SELL GOLD BELOW 1213 TARGET 1208 1202 SL 1219
BUY GOLD ABOVE 1220.50 TARGET 1225.50 1231.50 SL 1214.50
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