INTERNATIONAL COMMODITY NEWS :
Gold prices rebounded mildly in Asia on Tuesday, but with a weak tone as investors eyed the dollar. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,236.10 a troy ounce, up 0.06%, after hitting an overnight session low of $1,223.60 and off a high of $1,238.00.Overnight, gold futures moved higher after a key Federal Reserve official suggested rate hikes in the U.S. may come later than once anticipated, which softened the dollar. Gold and the dollar tend to trade inversely with one another.
TRADING STRATEGY :
BUY GOLD ABOVE 1236 TGT 1240,1245 SL 1231
SELL GOLD BELOW 1228 TGT 1224,1219 SL 1233
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Gold prices rebounded mildly in Asia on Tuesday, but with a weak tone as investors eyed the dollar. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,236.10 a troy ounce, up 0.06%, after hitting an overnight session low of $1,223.60 and off a high of $1,238.00.Overnight, gold futures moved higher after a key Federal Reserve official suggested rate hikes in the U.S. may come later than once anticipated, which softened the dollar. Gold and the dollar tend to trade inversely with one another.
TRADING STRATEGY :
BUY GOLD ABOVE 1236 TGT 1240,1245 SL 1231
SELL GOLD BELOW 1228 TGT 1224,1219 SL 1233
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