Elsewhere in the metals complex, silver for March delivery SIH5, +1.73% jumped 31 cents, or 1.9%, to $16.08 an ounce. Platinum for April delivery PLJ5, +0.77% rallied $14.10, or almost 1.2%, to $1,218.00 an ounce.
Palladium for March delivery PAH5, +0.63% added $8.55, or almost 1.1%, to $803.40 an ounce. High-grade copper for March delivery HGH5, -0.39% lost 2 cents to $2.80 a pound.
Gold continued its winning ways in the new year, gaining ground on Monday ahead of a busy week of economic data that will be capped by the key December jobs report.
Gold for February delivery GCG5, +0.64% rose $11.10, or 0.9%, to $1,197.20 an ounce, with volume looking to pick up after a holiday pause.
INTERNATIONAL COMMODITY NEWS :
Gold prices rose on Monday in early Asia with the focus on safe haven demand.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery added 0.18% to $1,188.30 a troy ounce. Last week, gold futures ended slightly higher on Friday, as investors returned to the market to seek cheap valuations after prices hit a one-month low earlier in the session.Despite Friday’s modest gains, gold declined $8.70, or 0.76%, on the week, the third consecutive weekly loss.
TRADING STRATEGY :
BUY GOLD ABOVE 1196 TARGET 1201 1207 SL 1190
SELL GOLD BELOW 1189 TARGET 1184 1178 SL 11955
