INTERNATIONAL COMMODITY NEWS :
Gold futures retreated on Friday afternoon amid a wavering dollar, as traders awaited comments from Federal Reserve chair Janet Yellen later in the session. On the Comex division of the New York Mercantile Exchange,gold futures for April delivery fell 5.80% or 0.48% to $1,199 a troy ounce. The decline came one day after gold reached a three-week high at $1,205.10, capping a rally precipitated by relatively dovish comments from Ms. Yellen on Mar. 18. Gold prices started trending downward on Mar. 6, after the release of a promising U.S. jobs report fueled speculation that the Fed could raise interest rates sooner than expected. Prices then dipped to a four-month low last week at 1,148.20 ahead of the Fed’s decision to remove its stance of remaining patient on the timing of a potential rate hike.
TRADING STRATEGY :
BUY GOLD ABOVE 1207 TARGET 1212 1218 SL 1201
SELL GOLD BELOW 1194 TARGET 1189 1183 SL 1200
INTERNATIONAL COMMODITY NEWS :
Gold prices dipped in Asia on Friday as mixed data from Japan signaled continued easy monetary policies. In Japan on Friday, the country reported that February national core CPI (excluding perishables but including energy) rose 2.0%, less than the 2.1% year-on-year gain expected, a 21st year-on-year rise but the smallest gain since 1.3% in March 2014. The unemployment rate came in at 3.5% as expected, down from 3.6% in January, while the job offers to seekers index met its 1.15 expectation (115 job offers for every 100 people looking for work), up from 1.14 in January and posting the highest reading since 1.19 in March 1992. Household spending fell 2.9%, less than the 3.2% year-on-year decline seen in real terms, but still an 11th consecutive year-on-year drop.
TRADING STRATEGY :
BUY GOLD ABOVE 1207 TARGET 1212 1218 SL 1201
SELL GOLD BELOW 1198 TARGET 1193 1187 SL 1204
INTERNATIONAL COMMODITY NEWS :
Gold prices tread water in early Asia on Thursday with support coming from expectations the Federal Reserve will act later rather than sooner on a widely expected hike in rates this year. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery held nearly flat at $1,197.10 a troy ounce. Overnight, gold future prices spiked on Wednesday reaching a three-week high,as weak data on U.S. durable goods strengthened the case for delaying a potential interest rate hike. Gold had been in free fall until March 17, as speculation mounted that the Federal Reserve could raise interest rates as early as June. Last week, gold futures plunged to a four-month low of $1,148.20 ahead of the Fed’s decision to remove its stance of remaining patient on the timing of a potential rate hike.Still, relatively dovish comments from Fed chair Janet Yellen on slower long-term increases for inflation, interest rates and GDP growth have fueled speculation that the Fed could raise its benchmark Federal Funds Rate later than previously had been expected.
TRADING STRATEGY :
BUY GOLD ABOVE 1201 TARGET 1206 1212 SL 1195
SELL GOLD BELOW 1194 TARGET 1189 1183 SL 1200
INTERNATIONAL COMMODITY NEWS :
Gold prices ticked down in Asia early Wednesday in a light regional data day. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery eased 0.05% ro 1,191.00 a troy ounce. Overnight, gold future prices edged up on Tuesday posting its fifth consecutive daily gain, as consumer prices in the U.S. for February rebounded from the previous month. The Labor Department on Tuesday said its Consumer Price Index (CPI) rose 0.2% for February, one month after declining 0.1%. The slight uptick last month ended a three-month streak of declines. On a year-over-year basis the CPI remained unchanged from its February 2014 level, though analysts had forecasted it to slip by 0.1% from last year’s figure. Core CPI, which excludes food and energy costs, moved up by 0.2% increasing at the same rate as it had a month earlier. On a year-over-year basis, however, core CPI is up 1.7% from its level last year at this time.
TRADING STRATEGY :
BUY GOLD ABOVE 1195 TARGET 1200 1206 SL 1189
SELL GOLD BELOW 1185 TARGET 1180 1174 SL 1191
INTERNATIONAL COMMODITY NEWS :
Gold prices were marginally higher in early Asia on Tuesday ahead of the initial HSBC (LONDON:HSBA) manufacturing gauge for March that will also put copper into focus. In China, the March flash reading of the HSBC PMI will be released at 09:45 Beijing time (0145 GMT) and is expected at 50.6, a slight downtick from 50.7 in February. On the Comex division of the New York Mercantile Exchange gold futures for April delivery fell 0.10% to $1,189.100 a troy ounce.Overnight, gold futures edged up on Monday reaching two-week highs, amid modest gains from the euro against the U.S. Dollar. Gold prices have rallied since the middle of last week following relatively dovish comments from Federal Reserve chair Janet Yellen halted the dollar’s steep appreciation against the euro. Despite offering indications that the Fed will likely increase interest rates at some point this year, Yellen said the Fed will take a “data driven” approach on the timing of its first interest rate hike since 2009.
TRADING STRATEGY :
BUY GOLD ABOVE 1192 TARGET 1197 1203 SL 1186
SELL GOLD BELOW 1185 TARGET 1180 1174 SL 1191
INTERNATIONAL COMMODITY NEWS :
Gold prices eased in Asia on Monday in light trade as sentiment on the timing of a widely expected Federal Reserve rate hike guides investors. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.24% to 1,181.70 a troy ounce. Gold rallied to a two-week high on Friday, as the U.S. dollar sold off after the Federal Reserve projected a slower pace of rate hikes following its policy meeting earlier in the week. Dollar weakness usually benefits gold, as it boosts the metal’s appeal as an alternative asset and makes dollar- priced commodities cheaper for holders of other currencies. The dollar’s losses came after the Federal Reserve downgraded its forecasts for growth and inflation and lowered its interest rate projections, prompting investors to push back expectations on the timing and pace of future rate increases.
TRADING STRATEGY :
BUY GOLD ABOVE 1188 TARGET 1193 1199 SL 1182
SELL GOLD BELOW 1178 TARGET 1173 1167 SL 1184
INTERNATIONAL COMMODITY NEWS :
Gold prices eased in Asia on Monday in light trade as sentiment on the timing of a widely expected Federal Reserve rate hike guides investors. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.24% to 1,181.70 a troy ounce. Gold rallied to a two-week high on Friday, as the U.S. dollar sold off after the Federal Reserve projected a slower pace of rate hikes following its policy meeting earlier in the week. Dollar weakness usually benefits gold, as it boosts the metal’s appeal as an alternative asset and makes dollar- priced commodities cheaper for holders of other currencies. The dollar’s losses came after the Federal Reserve downgraded its forecasts for growth and inflation and lowered its interest rate projections, prompting investors to push back expectations on the timing and pace of future rate increases.
TRADING STRATEGY :
BUY GOLD ABOVE 1188 TARGET 1193 1199 SL 1182
SELL GOLD BELOW 1178 TARGET 1173 1167 SL 1184
INTERNATIONAL COMMODITY NEWS :
Gold prices posted a moderate gain in early Asia on Friday as investors continued to ponder Federal Reserve tea leaves on the prospects of a rate hike by June. On the Comex division of the New York Mercantile Exchange, gold futures for April deliveries rose 0.16% to $1,170.90 a troy ounce. Overnight, gold prices soared for the second consecutive session, one day after somewhat dovish comments from Federal Reserve chair Janet Yellen regarding a potential interest rate hike helped the precious metal rebound from an extended slump. Although the Federal Open Market Committee removed a reference to remaining patient from its minutes on Wednesday, Yellen insisted that it does not mean that the Fed will raise interest rates by June at the earliest. On the contrary, Yellen asserted that the timing of the decision will be “data dependent,” as the Fed considers indicators such as GDP growth, wage increases and inflation.
TRADING STRATEGY :
BUY GOLD ABOVE 1174 TARGET 1179 1185 SL 1168
SELL GOLD BELOW 1166 TARGET 1161 1155 SL 1172
INTERNATIONAL COMMODITY NEWS :
Investors boosted gold prices in Asia on Thursday as the Federal Reserve signaled that a widely expected hike in interest rates this year may not come in the first half and that a strong dollar is a crucial element in timing. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 1.69% to trade at $1,170.70 a troy ounce. Overnight, gold held steady near the lowest level in more than four months on Wednesday before the Fed remarks. Expectations of higher borrowing rates going forward is considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise. Federal Reserve chair Janet Yellen said while the Fed has not decided on the timing of a rate hike, it is possible it could come at any Federal Open Market Committee meeting this year after the FOMC concludes its next meeting in April.
TRADING STRATEGY :
BUY GOLD ABOVE 1178 TARGET 1183 1189 SL 1172
SELL GOLD BELOW 1165 TARGET 1160 1154 SL 1171
INTERNATIONAL COMMODITY NEWS :
Gold prices edged higher in Asia on Wednesday as investors tread carefully ahead of a Federal Reserve review of monetary policy that may signal a rate rise ahead. On the Comex division of the New York Mercantile Exchange, gold prices for April delivery edged up 0.07% to $1,149.00 a troy ounce. Overnight, gold plummeted to $1,141.60 early in U.S. morning trading, its lowest level since early-November, before moving up to near $1,160 in less than an hour. Prices for gold futures plunged to a four-month low, ending a three-day winning streak, as investors unloaded their holdings of the precious metal in advance of Wednesday’s critical Federal Open Market Committee meeting. The Federal Reserve could remove a reference to remaining patient from its minutes, which would provide an indication that the U.S. central bank is ready to raise interest rates at some point this year.
TRADING STRATEGY :
BUY GOLD ABOVE 1157 TARGET 1162 1168 SL 1151
SELL GOLD BELOW 1146.50 TARGET 1141.50 1135.50 SL 1152.50
INTERNATIONAL COMMODITY NEWS :
Gold prices were higher to steady in early Asia on Tuesday with the focus on this week’s Federal Reserve meeting and overall prospects for physical demand from China and India. On the Comex division of the New York Mercantile Exchange, gold prices for April delivery rose 0.09% to $1,154.20 per troy ounce. Overnight, gold future prices remained relatively stable on Monday, amid a slight rally by the euro after the currency hit record-lows last week at week’s end as metal traders await the Federal Open Market Committee’s (FOMC) meeting on Wednesday. The Fed could provide details on when it plans to raise interest rates. The U.S. central bank can remove a reference to remaining patient, which typically indicates that an interest rate hike could occur within the next two FOMC meetings.
TRADING STRATEGY :
BUY GOLD ABOVE 1159.50 TARGET 1164.50 1170.50 SL 1153.50
SELL GOLD BELOW 1150 TARGET 1145 1139 SL 1156
INTERNATIONAL COMMODITY NEWS :
Gold prices edged forward on Friday, as the euro resumed its slide and weaker than expected U.S. data curbed investor expectations of short-term economic growth. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery inched up 1.40 or 0.12% to 1,153.20 a troy ounce. Gold futures fell steadily in U.S. afternoon trading after peaking at 1,1680.80 hours earlier on a lightly traded session. After dipping more than $30 last Friday to erase all of its yearly gains for 2015, gold futures still remain above its 52-week low of $1,142.47 reached in mid-November.
TRADING STRATEGY :
BUY GOLD ABOVE 1161.75 TARGET 166.75 1172.75 SL 1155.75
SELL GOLD BELOW 1152 TARGET 1147 1141 SL 1158
INTERNATIONAL COMMODITY NEWS :
Gold futures closed slightly higher on Thursday, following a streak of massive losses in recent days amid mounting concerns of an interest rate hike by the Federal Reserve. On the Comex division of the New York Mercantile Exchange, gold for April delivery closed up 0.07% or 0.80 at $1,151.40 a troy ounce. Gold prices moved above $1,165 in U.S. trading before falling steadily hours later. Metals traders await next week’s Federal Open Market Committee meeting when the Fed could remove its reference to “remaining patient,” in its minutes. The removal is typically an indication that the U.S. central bank is ready to raise interest rates at either of its next two meetings. After next week’s meeting, the FOMC will meet in June and September.
TRADING STRATEGY :
BUY GOLD ABOVE 1162 TARGET 1167 1173 SL 1156
SELL GOLD BELOW 1155 TARGET 1150 1144 SL 1161
INTERNATIONAL COMMODITY NEWS :
Gold staged a mild comeback in early Asia on Thursday as normal demand flows in China and India for physical gold were eyed after recent sharp dips. Gold prices for April delivery on the Comex division of the New York Mercantile Exchange rebounded 0.35% to $1,154.50 a troy ounce in Asia. Gold future prices fell for the eighth consecutive day on Wednesday as prices neared a one-year low amid continuing fears of an interest-rate hike by the U.S. Federal Reserve. Gold has been in free fall since last Friday when prices declined more than $30 an ounce, following stronger than expected U.S. employment data in the February jobs report. The creation of 295,000 new U.S. jobs, as well as a 5.5% unemployment rate has heightened concerns that the Fed could raise interest rates by June.
TRADING STRATEGY :
BUY GOLD ABOVE 1159 TARGET 1164 1170 SL 1153
SELL GOLD BELOW 1147 TARGET 1142 1136 SL 1153
INTERNATIONAL COMMODITY NEWS :
Gold futures are trading with mild gains in Asia today. The commodity witnessed massive losses post non farm payrolls on Friday. Gold futures for April delivery tumbled around 3% to close at their four month low, erasing all the gains in the current year. Crude oil futures also fell sharply, breaking under $50 per barrel, as the US dollar strengthened broadly following the release of upbeat US employment data. The dollar index,which measures the greenback’s strength against a trade-weighted basket of six major currencies, jumped near 98 on Friday, the highest since September 2003. COMEX Gold futures broke under $1200 per ounce amid massive strength in US dollar. The dollar is quoting around 1.0800 mark against the Euro right now. COMEX Gold is quoting at $1171.60 per ounce, up $7.30 per ounce on the day. MCX Gold futures are trading at Rs 26067 per 10grams, up Rs 55 per 10 grams on the day.
TRADING STRATEGY :
BUY GOLD ABOVE 1165.50 TARGET 1170.50 1176.50 SL 1159.50
SELL GOLD BELOW 1155 TRAGET 1150 1144 SL 1161
INTERNATIONAL COMMODITY NEWS :
Gold futures are trading with mild gains in Asia today. The commodity witnessed massive losses post non farm payrolls on Friday. Gold futures for April delivery tumbled around 3% to close at their four month low, erasing all the gains in the current year. Crude oil futures also fell sharply, breaking under $50 per barrel, as the US dollar strengthened broadly following the release of upbeat US employment data. The dollar index,which measures the greenback’s strength against a trade-weighted basket of six major currencies, jumped near 98 on Friday, the highest since September 2003. COMEX Gold futures broke under $1200 per ounce amid massive strength in US dollar. The dollar is quoting around 1.0800 mark against the Euro right now. COMEX Gold is quoting at $1171.60 per ounce, up $7.30 per ounce on the day. MCX Gold futures are trading at Rs 26067 per 10grams, up Rs 55 per 10 grams on the day.
TRADING STRATEGY :
BUY GOLD ABOVE 1170 TARGET 1175 1181 SL 1164
SELL GOLD BELOW 1161 TARGET 1156 1150 SL 1167
INTERNATIONAL COMMODITY NEWS :
COMEX Gold futures slipped under $1200 per ounce amid massive strength in US dollar. The metal dropped after hitting its two week highs above $1220 per ounce as the dollar hit near 12 year high of 1.1000 against the Euro. Gold corrected after Federal Reserve ChairJanet Yellen said that the central bank could raise interest rates before inflation pick sup as long as it foresees price increases accelerating and the job market continues to advance. However, MCX Gold edged up after India’s Union Budget 2015-16 announced some-key measures to monetize domestic gold holdings. This boosted sentiments in world markets too before the awesome rally in US dollar pulled brakes on the yellow metal. Gold had dropped to a six week low of $1190 per ounce in the last week of February before recovering. MCX Gold futures edged up above Rs 26700 per 10 grams mark after the budget but pared back soon amid losses in global prices.
TRADING STRATEGY :
BUY GOLD ABOVE 1172 TARGET 1177 1183 SL 1166
SELL GOLD BELOW 1160 TARGET 1155 1149 SL 1166
INTERNATIONAL COMMODITY NEWS :
Gold futures showed nervousness ahead of release of a batch of economic data such as ADP employment report, Fed’s Beige book and US ISM non-manufacturing index slated to come out later today. US gold slipped for the straight third session triggered by higher dollar values .The US dollar climbed to its highest level since September 2003 on Wednesday ahead of closely-watched jobs data and the European Central Bank meeting later in the week. COMEX Gold for the April delivery quotes at $1,203.80 an ounce, down $.60 and the Silver May delivery quotes at $16.278, down 1.8 cents an ounce.
TRADING STRATEGY :
BUY GOLD ABOVE 1205.5 TARGET 1210.50 1216.50 SL 1199.50
SELL GOLD BELOW 1199 TARGET 1194 1188 SL 1205
INTERNATIONAL COMMODITY NEWS :
Prices for gold futures fell precipitously on Tuesday, as the U.S. Dollar Index reached its highest level in more than 11 years. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell $5.00 or 0.41% to $1,203.20 a troy ounce, as future prices wavered on a see-saw day of trading. Prices fell below a seven-week low of $1,195 an ounce during European trading, before rebounding to near $1,215 during early trading on U.S. markets. Gold prices then plunged shortly ahead of Benjamin Netanyahu’s address in front of Congress, before remaining steady during the Israeli prime minister’s speech.
TRADING STRATEGY :
BUY GOLD ABOVE 1208 TARGET 1213 1219 SL 1202
SELL GOLD BELOW 1201 TARGET 1196 1190 SL 1207
INTERNATIONAL COMMODITY NEWS :
Gold prices held steady to lower in early Asia on Tuesday as investors eyed easy monetary policy in China and continued import restriction in India On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.02% to $1,206.40 a troy ounce. Overnight, gold prices slipped on Monday afternoon, after reaching a two-week high, amid conflicting reports about demand from the world’s two largest purchasers of the precious metal. Gold initially rose in morning trading following the release of a spate of economic data in China. For the month of February, the HSBC China Manufacturing PMI rose to 50.7 — up a point from 49.7 in January. China also cut its benchmark interest rate for the second time in less than four months, as a number of economists expect more easing measures to follow throughout the remainder of the year.
TRADING STRATEGY :
BUY GOLD ABOVE 1212 TARGET 1217 1223 SL 1206
SELL GOLD BELOW 1203 TARGET 1197 1191 SL 1209
