INTERNATIONAL COMMODITY NEWS :
Gold prices fell on Friday due to weak demand in Asia, though escalating tensions in Ukraine brought the yellow metal off session lows. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,304.70 a troy ounce during U.S. trading, down 0.84%, up from a session low of $1,293.80 and off a high of $1,316.40. Futures were likely to find support at $1,283.30 a troy ounce, the low from Aug. 5, and resistance at $1,321.80, Thursday’s high. Gold has served as a hedge to geopolitical pressures in recent sessions, though weak Asian demand kept the precious metal in negative territory despite soft data in the U.S., which normally supports the asset.
TRADING STRATEGY :
SELL GOLD BELOW 1300 TG 1294,1284 SL 1310
BUY GOLD 1311 TG 1317,1327 SL 1301
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
Gold prices fell on Friday due to weak demand in Asia, though escalating tensions in Ukraine brought the yellow metal off session lows. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,304.70 a troy ounce during U.S. trading, down 0.84%, up from a session low of $1,293.80 and off a high of $1,316.40. Futures were likely to find support at $1,283.30 a troy ounce, the low from Aug. 5, and resistance at $1,321.80, Thursday’s high. Gold has served as a hedge to geopolitical pressures in recent sessions, though weak Asian demand kept the precious metal in negative territory despite soft data in the U.S., which normally supports the asset.
TRADING STRATEGY :
SELL GOLD BELOW 1300 TG 1294,1284 SL 1310
BUY GOLD 1311 TG 1317,1327 SL 1301
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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