INTERNATIONAL COMMODITY NEWS :
Gold prices dipped in Asia on Wednesday though physical demand prospects offered some support in India and China as weaker prices attracted jewelry makers..On the Comex division of the New York Mercantile Exchange, gold futures for February delivery fell 0.64% to $1,226.50 a troy ounce.Overnight, gold rose to a 12-week high on Tuesday, before trimming some of those gains as the U.S. dollar strengthened and stock markets rebounded from the previous day’s losses. Gold remained supported after the latest U.S. jobs report last week showed a surprise drop in hourly wages, suggesting that the Federal Reserve could keep rates on hold for longer. The precious metal lost nearly 2% in 2014 amid indications a strengthening U.S. economic recovery will force the Fed to start raising interest rates sooner and faster than previously thought.A delay in raising interest rates would be seen as bullish for gold, as it decreases the relative cost of holding on to the metal, which doesn’t offer investors any similar guaranteed payout.
TRADING STRATEGY :
SELL GOLD BELOW 1224 TARGET 1219 1213 SL 1230
BUY GOLD ABOVE 1240 TARGET 1245 1251 SL 1234
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Gold prices dipped in Asia on Wednesday though physical demand prospects offered some support in India and China as weaker prices attracted jewelry makers..On the Comex division of the New York Mercantile Exchange, gold futures for February delivery fell 0.64% to $1,226.50 a troy ounce.Overnight, gold rose to a 12-week high on Tuesday, before trimming some of those gains as the U.S. dollar strengthened and stock markets rebounded from the previous day’s losses. Gold remained supported after the latest U.S. jobs report last week showed a surprise drop in hourly wages, suggesting that the Federal Reserve could keep rates on hold for longer. The precious metal lost nearly 2% in 2014 amid indications a strengthening U.S. economic recovery will force the Fed to start raising interest rates sooner and faster than previously thought.A delay in raising interest rates would be seen as bullish for gold, as it decreases the relative cost of holding on to the metal, which doesn’t offer investors any similar guaranteed payout.
TRADING STRATEGY :
SELL GOLD BELOW 1224 TARGET 1219 1213 SL 1230
BUY GOLD ABOVE 1240 TARGET 1245 1251 SL 1234
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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