INTERNATIONAL COMMODITY NEWS :
Gold prices edged higher in Asia on Wednesday as investors tread carefully ahead of a Federal Reserve review of monetary policy that may signal a rate rise ahead. On the Comex division of the New York Mercantile Exchange, gold prices for April delivery edged up 0.07% to $1,149.00 a troy ounce. Overnight, gold plummeted to $1,141.60 early in U.S. morning trading, its lowest level since early-November, before moving up to near $1,160 in less than an hour. Prices for gold futures plunged to a four-month low, ending a three-day winning streak, as investors unloaded their holdings of the precious metal in advance of Wednesday’s critical Federal Open Market Committee meeting. The Federal Reserve could remove a reference to remaining patient from its minutes, which would provide an indication that the U.S. central bank is ready to raise interest rates at some point this year.
TRADING STRATEGY :
BUY GOLD ABOVE 1157 TARGET 1162 1168 SL 1151
SELL GOLD BELOW 1146.50 TARGET 1141.50 1135.50 SL 1152.50
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Gold prices edged higher in Asia on Wednesday as investors tread carefully ahead of a Federal Reserve review of monetary policy that may signal a rate rise ahead. On the Comex division of the New York Mercantile Exchange, gold prices for April delivery edged up 0.07% to $1,149.00 a troy ounce. Overnight, gold plummeted to $1,141.60 early in U.S. morning trading, its lowest level since early-November, before moving up to near $1,160 in less than an hour. Prices for gold futures plunged to a four-month low, ending a three-day winning streak, as investors unloaded their holdings of the precious metal in advance of Wednesday’s critical Federal Open Market Committee meeting. The Federal Reserve could remove a reference to remaining patient from its minutes, which would provide an indication that the U.S. central bank is ready to raise interest rates at some point this year.
TRADING STRATEGY :
BUY GOLD ABOVE 1157 TARGET 1162 1168 SL 1151
SELL GOLD BELOW 1146.50 TARGET 1141.50 1135.50 SL 1152.50
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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