INTERNATIONAL COMMODITY NEWS :
Gold futures edged higher on Tuesday, but remained below the key $1,300-level, as prospects of an interest rate hike in the U.S. held gains in check. On the Comex division of the New York Mercantile Exchange, gold for December delivery tacked on 0.29%, or $3.80, to trade at $1,292.70 a troy ounce during European morning hours. Prices held in a narrow range between $1,288.30 and $1,293.50. Gold ended Monday’s session down 0.46%, or $5.90, to settle at $1,288.90 an ounce. Futures were likely to find support at $1,281.00, the low from August 1 and resistance at $1,314.60, the high from July 29.
BUY GOLD COMEX ABOVE 1321 TG 1327 1337 SL 1311
SELL GOLD COMEX BELOW 1311 TG 1305,1295 SL 1221
Gold futures edged higher on Tuesday, but remained below the key $1,300-level, as prospects of an interest rate hike in the U.S. held gains in check. On the Comex division of the New York Mercantile Exchange, gold for December delivery tacked on 0.29%, or $3.80, to trade at $1,292.70 a troy ounce during European morning hours. Prices held in a narrow range between $1,288.30 and $1,293.50. Gold ended Monday’s session down 0.46%, or $5.90, to settle at $1,288.90 an ounce. Futures were likely to find support at $1,281.00, the low from August 1 and resistance at $1,314.60, the high from July 29.
TRADING STRATEGY :
SELL GOLD COMEX BELOW 1311 TG 1305,1295 SL 1221
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