INTERNATIONAL COMMODITY NEWS :
Gold prices held steady to weaker in early Asia on Tuesday as investors focus on U.S. monetary policy prospects that seem favorable for eventual higher interest rates. Investors are watching an annual meeting of top central bank officials and economists in Jackson Hole, Wyoming from August 21 to 23. Gold traders will also pay close attention to the minutes of the Fed’s July policy meeting due to be published on Wednesday for further clues about the timing of future interest rate hikes On the Comex division of the New York Mercantile Exchange, goldfutures for December delivery traded at $1,299.00 a troy ounce, down 0.02%, after hitting an overnight session low of $1,296.70 and off a high of $1,304.80.
Gold prices held steady to weaker in early Asia on Tuesday as investors focus on U.S. monetary policy prospects that seem favorable for eventual higher interest rates. Investors are watching an annual meeting of top central bank officials and economists in Jackson Hole, Wyoming from August 21 to 23. Gold traders will also pay close attention to the minutes of the Fed’s July policy meeting due to be published on Wednesday for further clues about the timing of future interest rate hikes On the Comex division of the New York Mercantile Exchange, goldfutures for December delivery traded at $1,299.00 a troy ounce, down 0.02%, after hitting an overnight session low of $1,296.70 and off a high of $1,304.80.
TRADING STRATEGY :
SELL GOLD COMEX BELOW 1300 TG 1294,1284 SL 1310
BUY GOLD COMEX ABOVE 1302 TGT 1306,1311 SL 1296
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