INTERNATIONAL COMMODITY NEWS :
Gold futures are trading with mild gains in Asia today. The commodity witnessed massive losses post non farm payrolls on Friday. Gold futures for April delivery tumbled around 3% to close at their four month low, erasing all the gains in the current year. Crude oil futures also fell sharply, breaking under $50 per barrel, as the US dollar strengthened broadly following the release of upbeat US employment data. The dollar index,which measures the greenback’s strength against a trade-weighted basket of six major currencies, jumped near 98 on Friday, the highest since September 2003. COMEX Gold futures broke under $1200 per ounce amid massive strength in US dollar. The dollar is quoting around 1.0800 mark against the Euro right now. COMEX Gold is quoting at $1171.60 per ounce, up $7.30 per ounce on the day. MCX Gold futures are trading at Rs 26067 per 10grams, up Rs 55 per 10 grams on the day.
TRADING STRATEGY :
BUY GOLD ABOVE 1170 TARGET 1175 1181 SL 1164
SELL GOLD BELOW 1161 TARGET 1156 1150 SL 1167
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Gold futures are trading with mild gains in Asia today. The commodity witnessed massive losses post non farm payrolls on Friday. Gold futures for April delivery tumbled around 3% to close at their four month low, erasing all the gains in the current year. Crude oil futures also fell sharply, breaking under $50 per barrel, as the US dollar strengthened broadly following the release of upbeat US employment data. The dollar index,which measures the greenback’s strength against a trade-weighted basket of six major currencies, jumped near 98 on Friday, the highest since September 2003. COMEX Gold futures broke under $1200 per ounce amid massive strength in US dollar. The dollar is quoting around 1.0800 mark against the Euro right now. COMEX Gold is quoting at $1171.60 per ounce, up $7.30 per ounce on the day. MCX Gold futures are trading at Rs 26067 per 10grams, up Rs 55 per 10 grams on the day.
TRADING STRATEGY :
BUY GOLD ABOVE 1170 TARGET 1175 1181 SL 1164
SELL GOLD BELOW 1161 TARGET 1156 1150 SL 1167
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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