INTERNATIONAL COMMODITY NEWS :
Gold prices eased on Wednesday with investors looking ahead to comments from the Federal Reserve on the prospects for a rate hike this year.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery eased 0.05% to trade at $1,292.30 a troy ounce.Overnight, gold erased losses to hit the highest levels of the session on Tuesday, after data showed that U.S. durable goods orders fell unexpectedly in December, fuelling concerns over the strength of the economy. In a report, the U.S. Commerce Department said that total durable goods orders, which include transportation items, fell by 3.4% last month, compared to expectations for a gain of 0.5%.Core durable goods orders, excluding volatile transportation items, declined by 0.8% in December, disappointing forecasts for a 0.6% gain.
TRADING STRATEGY :
BUY GOLD ABOVE 1298 TARGET 1303 1309 SL 1292
SELL GOLD BELOW 1283 TARGET 1278 1272 SL 1289
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Gold prices eased on Wednesday with investors looking ahead to comments from the Federal Reserve on the prospects for a rate hike this year.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery eased 0.05% to trade at $1,292.30 a troy ounce.Overnight, gold erased losses to hit the highest levels of the session on Tuesday, after data showed that U.S. durable goods orders fell unexpectedly in December, fuelling concerns over the strength of the economy. In a report, the U.S. Commerce Department said that total durable goods orders, which include transportation items, fell by 3.4% last month, compared to expectations for a gain of 0.5%.Core durable goods orders, excluding volatile transportation items, declined by 0.8% in December, disappointing forecasts for a 0.6% gain.
TRADING STRATEGY :
BUY GOLD ABOVE 1298 TARGET 1303 1309 SL 1292
SELL GOLD BELOW 1283 TARGET 1278 1272 SL 1289
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