INTERNATIONAL COMMODITY NEWS :
Gold prices dipped slightly in early Asia trade on Tuesday with the focus growing on the Federal Reserve. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,225.80 a troy ounce, down 0.06%, after hitting an overnight session low of $1,227.50 and off a high of $1,232.00. Overnight, gold prices fell earlier as investors avoided the yellow metal and jumped to the sidelines ahead of the Federal Reserve’s statement on monetary policy on Wednesday. The Fed is widely seen closing its bond-buying program, though uncertainty as to whether or not the statement will contain dovish or hawkish language surrounding interest rates prompted investors to avoid the yellow metal ahead of time.
TRADING STRATEGY :
BUY GOLD ABOVE 1230 TGT 1234,1239 SL 1225
SELL GOLD BELOW 1223 TGT 1219,1214 SL 1228
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Gold prices dipped slightly in early Asia trade on Tuesday with the focus growing on the Federal Reserve. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,225.80 a troy ounce, down 0.06%, after hitting an overnight session low of $1,227.50 and off a high of $1,232.00. Overnight, gold prices fell earlier as investors avoided the yellow metal and jumped to the sidelines ahead of the Federal Reserve’s statement on monetary policy on Wednesday. The Fed is widely seen closing its bond-buying program, though uncertainty as to whether or not the statement will contain dovish or hawkish language surrounding interest rates prompted investors to avoid the yellow metal ahead of time.
TRADING STRATEGY :
BUY GOLD ABOVE 1230 TGT 1234,1239 SL 1225
SELL GOLD BELOW 1223 TGT 1219,1214 SL 1228
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