INTERNATIONAL COMMODITY NEWS :
Gold prices eased in Asia on Friday, driven by shifting sentiment on the dollar and the timing for a rate hike as widely expected by the Federal Reserve later this year.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery fell 0.20% to $1,262.30 a troy ounce.Also on the Comex, silver futures for March delivery eased 0.18% to trade at $17.072 a troy ounce. Elsewhere in metals trading, copper for March slumped 1.33% to trade at $2.544 a pound.A day earlier, copper hit $2.423, a level not seen since June 2009, before settling at $2.505, down 13.8 cents, or 5.24%, as concerns over the global economic outlook and the impact on future demand prospects dampened the appeal of the commodity. The U.S. Department of Labor said the number of individuals filing for initial jobless benefits increased by 19,000 last week to 316,000, the highest in almost four months. Analysts had expected initial jobless claims to decline by 6,000 to 291,000 last week from 297,000 in the preceding week.
TRADING STRATEGY :
SELL GOLD BELOW 1255 TARGET 1250 1244 SL 1261
BUY GOLD ABOVE 1264 TARGET 1269 1275 SL 1258
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Gold prices eased in Asia on Friday, driven by shifting sentiment on the dollar and the timing for a rate hike as widely expected by the Federal Reserve later this year.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery fell 0.20% to $1,262.30 a troy ounce.Also on the Comex, silver futures for March delivery eased 0.18% to trade at $17.072 a troy ounce. Elsewhere in metals trading, copper for March slumped 1.33% to trade at $2.544 a pound.A day earlier, copper hit $2.423, a level not seen since June 2009, before settling at $2.505, down 13.8 cents, or 5.24%, as concerns over the global economic outlook and the impact on future demand prospects dampened the appeal of the commodity. The U.S. Department of Labor said the number of individuals filing for initial jobless benefits increased by 19,000 last week to 316,000, the highest in almost four months. Analysts had expected initial jobless claims to decline by 6,000 to 291,000 last week from 297,000 in the preceding week.
TRADING STRATEGY :
SELL GOLD BELOW 1255 TARGET 1250 1244 SL 1261
BUY GOLD ABOVE 1264 TARGET 1269 1275 SL 1258
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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