INTERNATIONAL COMMODITY NEWS :
Gold prices eased in Asia on Thursday led by profit-taking after gains overnight on bearish U.S> retail sales data. On the Comex division of the New York Mercantile Exchange,gold futures for December delivery traded at $1,313.00 a troy ounce,down 0.11%, after hitting an overnight session low of $1,306.10 and off a high of $1,316.20. Overnight, gold prices spiked after U.S. retail sales figures disappointed markets, which reminded investors the Federal Reserve won’t rush to tighten monetary policy. Core retail sales, which exclude auto sales, rose just 0.1% in July, below expectations for a 0.4% gain.
Gold prices eased in Asia on Thursday led by profit-taking after gains overnight on bearish U.S> retail sales data. On the Comex division of the New York Mercantile Exchange,gold futures for December delivery traded at $1,313.00 a troy ounce,down 0.11%, after hitting an overnight session low of $1,306.10 and off a high of $1,316.20. Overnight, gold prices spiked after U.S. retail sales figures disappointed markets, which reminded investors the Federal Reserve won’t rush to tighten monetary policy. Core retail sales, which exclude auto sales, rose just 0.1% in July, below expectations for a 0.4% gain.
TRADING STRATEGY :
BUY GOLD ABOVE 1318 TG 1326,1336 SL 1308
SELL GOLD BELOW 1308 TG 1302,1292 SL 1318
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