INTERNATIONAL COMMODITY NEWS :
Crude oil prices inched higher in Asia on Thursday, but overall sentiment remains weak on ample global supplies. On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in December traded at $78.91 a barrel, up 0.03%, after hitting an overnight session low of $76.48 a barrel and off a high of $79.34 a barrel.Brent oil futures on the ICE ended at $83.81 a barrel, up 0.52% .The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories rose by 0.5 million barrels in the week ended Oct. 31, well below expectations for a gain of 1.9 million barrels. Total U.S. crude oil inventories stood at 380.2 million barrels as of last week. The report also showed that total motor gasoline inventories decreased by 1.4 million barrels, compared to forecasts for a decline of 1.0 million barrels, while distillate stockpiles fell by 0.7 million barrels.
TRADING STRATEGY :
BUY GOLD ABOVE 1144 TGT 1148,1153 SL 1139
SELL GOLD BELOW 1135 TGT 1131,1125 SL 1140
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Crude oil prices inched higher in Asia on Thursday, but overall sentiment remains weak on ample global supplies. On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in December traded at $78.91 a barrel, up 0.03%, after hitting an overnight session low of $76.48 a barrel and off a high of $79.34 a barrel.Brent oil futures on the ICE ended at $83.81 a barrel, up 0.52% .The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories rose by 0.5 million barrels in the week ended Oct. 31, well below expectations for a gain of 1.9 million barrels. Total U.S. crude oil inventories stood at 380.2 million barrels as of last week. The report also showed that total motor gasoline inventories decreased by 1.4 million barrels, compared to forecasts for a decline of 1.0 million barrels, while distillate stockpiles fell by 0.7 million barrels.
TRADING STRATEGY :
BUY GOLD ABOVE 1144 TGT 1148,1153 SL 1139
SELL GOLD BELOW 1135 TGT 1131,1125 SL 1140
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