INTERNATIONAL COMMODITY NEWS :
Investors boosted gold prices in Asia on Thursday as the Federal Reserve signaled that a widely expected hike in interest rates this year may not come in the first half and that a strong dollar is a crucial element in timing. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 1.69% to trade at $1,170.70 a troy ounce. Overnight, gold held steady near the lowest level in more than four months on Wednesday before the Fed remarks. Expectations of higher borrowing rates going forward is considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise. Federal Reserve chair Janet Yellen said while the Fed has not decided on the timing of a rate hike, it is possible it could come at any Federal Open Market Committee meeting this year after the FOMC concludes its next meeting in April.
TRADING STRATEGY :
BUY GOLD ABOVE 1178 TARGET 1183 1189 SL 1172
SELL GOLD BELOW 1165 TARGET 1160 1154 SL 1171
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Investors boosted gold prices in Asia on Thursday as the Federal Reserve signaled that a widely expected hike in interest rates this year may not come in the first half and that a strong dollar is a crucial element in timing. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 1.69% to trade at $1,170.70 a troy ounce. Overnight, gold held steady near the lowest level in more than four months on Wednesday before the Fed remarks. Expectations of higher borrowing rates going forward is considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise. Federal Reserve chair Janet Yellen said while the Fed has not decided on the timing of a rate hike, it is possible it could come at any Federal Open Market Committee meeting this year after the FOMC concludes its next meeting in April.
TRADING STRATEGY :
BUY GOLD ABOVE 1178 TARGET 1183 1189 SL 1172
SELL GOLD BELOW 1165 TARGET 1160 1154 SL 1171
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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