INTERNATIONAL COMMODITY NEWS :
COMEX Gold futures slipped under $1200 per ounce amid massive strength in US dollar. The metal dropped after hitting its two week highs above $1220 per ounce as the dollar hit near 12 year high of 1.1000 against the Euro. Gold corrected after Federal Reserve ChairJanet Yellen said that the central bank could raise interest rates before inflation pick sup as long as it foresees price increases accelerating and the job market continues to advance. However, MCX Gold edged up after India’s Union Budget 2015-16 announced some-key measures to monetize domestic gold holdings. This boosted sentiments in world markets too before the awesome rally in US dollar pulled brakes on the yellow metal. Gold had dropped to a six week low of $1190 per ounce in the last week of February before recovering. MCX Gold futures edged up above Rs 26700 per 10 grams mark after the budget but pared back soon amid losses in global prices.
TRADING STRATEGY :
BUY GOLD ABOVE 1172 TARGET 1177 1183 SL 1166
SELL GOLD BELOW 1160 TARGET 1155 1149 SL 1166
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COMEX Gold futures slipped under $1200 per ounce amid massive strength in US dollar. The metal dropped after hitting its two week highs above $1220 per ounce as the dollar hit near 12 year high of 1.1000 against the Euro. Gold corrected after Federal Reserve ChairJanet Yellen said that the central bank could raise interest rates before inflation pick sup as long as it foresees price increases accelerating and the job market continues to advance. However, MCX Gold edged up after India’s Union Budget 2015-16 announced some-key measures to monetize domestic gold holdings. This boosted sentiments in world markets too before the awesome rally in US dollar pulled brakes on the yellow metal. Gold had dropped to a six week low of $1190 per ounce in the last week of February before recovering. MCX Gold futures edged up above Rs 26700 per 10 grams mark after the budget but pared back soon amid losses in global prices.
TRADING STRATEGY :
BUY GOLD ABOVE 1172 TARGET 1177 1183 SL 1166
SELL GOLD BELOW 1160 TARGET 1155 1149 SL 1166
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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