INTERNATIONAL COMMODITY NEWS :
Gold prices posted a moderate gain in early Asia on Friday as investors continued to ponder Federal Reserve tea leaves on the prospects of a rate hike by June. On the Comex division of the New York Mercantile Exchange, gold futures for April deliveries rose 0.16% to $1,170.90 a troy ounce. Overnight, gold prices soared for the second consecutive session, one day after somewhat dovish comments from Federal Reserve chair Janet Yellen regarding a potential interest rate hike helped the precious metal rebound from an extended slump. Although the Federal Open Market Committee removed a reference to remaining patient from its minutes on Wednesday, Yellen insisted that it does not mean that the Fed will raise interest rates by June at the earliest. On the contrary, Yellen asserted that the timing of the decision will be “data dependent,” as the Fed considers indicators such as GDP growth, wage increases and inflation.
TRADING STRATEGY :
BUY GOLD ABOVE 1174 TARGET 1179 1185 SL 1168
SELL GOLD BELOW 1166 TARGET 1161 1155 SL 1172
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Gold prices posted a moderate gain in early Asia on Friday as investors continued to ponder Federal Reserve tea leaves on the prospects of a rate hike by June. On the Comex division of the New York Mercantile Exchange, gold futures for April deliveries rose 0.16% to $1,170.90 a troy ounce. Overnight, gold prices soared for the second consecutive session, one day after somewhat dovish comments from Federal Reserve chair Janet Yellen regarding a potential interest rate hike helped the precious metal rebound from an extended slump. Although the Federal Open Market Committee removed a reference to remaining patient from its minutes on Wednesday, Yellen insisted that it does not mean that the Fed will raise interest rates by June at the earliest. On the contrary, Yellen asserted that the timing of the decision will be “data dependent,” as the Fed considers indicators such as GDP growth, wage increases and inflation.
TRADING STRATEGY :
BUY GOLD ABOVE 1174 TARGET 1179 1185 SL 1168
SELL GOLD BELOW 1166 TARGET 1161 1155 SL 1172
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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