INTERNATIONAL COMMODITY NEWS :
Gold staged a mild comeback in early Asia on Thursday as normal demand flows in China and India for physical gold were eyed after recent sharp dips. Gold prices for April delivery on the Comex division of the New York Mercantile Exchange rebounded 0.35% to $1,154.50 a troy ounce in Asia. Gold future prices fell for the eighth consecutive day on Wednesday as prices neared a one-year low amid continuing fears of an interest-rate hike by the U.S. Federal Reserve. Gold has been in free fall since last Friday when prices declined more than $30 an ounce, following stronger than expected U.S. employment data in the February jobs report. The creation of 295,000 new U.S. jobs, as well as a 5.5% unemployment rate has heightened concerns that the Fed could raise interest rates by June.
TRADING STRATEGY :
BUY GOLD ABOVE 1159 TARGET 1164 1170 SL 1153
SELL GOLD BELOW 1147 TARGET 1142 1136 SL 1153
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Gold staged a mild comeback in early Asia on Thursday as normal demand flows in China and India for physical gold were eyed after recent sharp dips. Gold prices for April delivery on the Comex division of the New York Mercantile Exchange rebounded 0.35% to $1,154.50 a troy ounce in Asia. Gold future prices fell for the eighth consecutive day on Wednesday as prices neared a one-year low amid continuing fears of an interest-rate hike by the U.S. Federal Reserve. Gold has been in free fall since last Friday when prices declined more than $30 an ounce, following stronger than expected U.S. employment data in the February jobs report. The creation of 295,000 new U.S. jobs, as well as a 5.5% unemployment rate has heightened concerns that the Fed could raise interest rates by June.
TRADING STRATEGY :
BUY GOLD ABOVE 1159 TARGET 1164 1170 SL 1153
SELL GOLD BELOW 1147 TARGET 1142 1136 SL 1153
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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