INTERNATIONAL COMMODITY NEWS :
Gold rallied more than $20 on Friday, after data showed the U.S. economy grew less than expected in the fourth quarter.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery jumped $23.30, or 1.86%, to settle at $1,279.20 a troy ounce by close of trade on Friday.Futures were likely to find support at $1,252.10, the low from January 29, and resistance at $1,300.20, the high from January 26.The Commerce Department said in a report that the economy expanded 2.6% in the final three months of 2014, below expectations for a 3.0% gain and slowing sharply from growth of 5.0% in the three months to September.The U.S. dollar index, which measures the greenback’s strength against a trade weighted basket of six major currencies, ended at 95.00 by late-Friday, down 0.01% for the day and 0.33% lower on the week
TRADING STRATEGY :
BUY GOLD ABOVE 1288 TARGET 1293 1299 SL 1282
SELL GOLD BELOW 1272 TARGET 1267 1261 SL 1279
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
Gold rallied more than $20 on Friday, after data showed the U.S. economy grew less than expected in the fourth quarter.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery jumped $23.30, or 1.86%, to settle at $1,279.20 a troy ounce by close of trade on Friday.Futures were likely to find support at $1,252.10, the low from January 29, and resistance at $1,300.20, the high from January 26.The Commerce Department said in a report that the economy expanded 2.6% in the final three months of 2014, below expectations for a 3.0% gain and slowing sharply from growth of 5.0% in the three months to September.The U.S. dollar index, which measures the greenback’s strength against a trade weighted basket of six major currencies, ended at 95.00 by late-Friday, down 0.01% for the day and 0.33% lower on the week
TRADING STRATEGY :
BUY GOLD ABOVE 1288 TARGET 1293 1299 SL 1282
SELL GOLD BELOW 1272 TARGET 1267 1261 SL 1279
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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