INTERNATIONAL COMMODITY NEWS :
Gold prices seesawed between gains and losses in early Asia on Friday in the wake of the European Central Bank’s quantitative easing with the focus now on a gauge of China manufacturing activity.Ahead is the the HSBC China flash manufacturing PMI, which is closely tracked by the market, could be a key event for risk sentiment.This is due at 0945 local time (0145 GMT). There’s not much chance of a significant improvement in the headline reading over December’s fall to a seven-month low of 49.6.
TRADING STRATEGY :
BUY GOLD ABOVE 1307 TARGET 1312 1318 SL 1301
SELL GOLD BELOW 1293 TARGET 1288 1282 SL 1299
Gold prices seesawed between gains and losses in early Asia on Friday in the wake of the European Central Bank’s quantitative easing with the focus now on a gauge of China manufacturing activity.Ahead is the the HSBC China flash manufacturing PMI, which is closely tracked by the market, could be a key event for risk sentiment.This is due at 0945 local time (0145 GMT). There’s not much chance of a significant improvement in the headline reading over December’s fall to a seven-month low of 49.6.
TRADING STRATEGY :
BUY GOLD ABOVE 1307 TARGET 1312 1318 SL 1301
SELL GOLD BELOW 1293 TARGET 1288 1282 SL 1299
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