INTERNATIONAL COMMODITY NEWS :
Gold prices eased in Asia on Wednesday as investors continued to watch the dollar, which traded largely flat .On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,209.70 a troy ounce, up 0.09%, after hitting $1,210.30 a troy ounce during U.S. trading, down 0.70%. It hit a session low of $1,205.00 and off a high of $1,220.50. Overnight gold futures edged lower and threatened to post their first quarterly this year after soft European inflation data sparked demand for the U.S. dollar, which trades inversely with the yellow metal. Eurostat, the statistics arm of the European Union, reported earlier that the euro area’s annual inflation rate fell to a five-year low of 0.3% in September from 0.4% in August. Core inflation, which strips out food, energy, alcohol and tobacco costs, came in at 0.7%, down from 0.9% in August.
TRADING STRATEGY :
BUY GOLD ABOVE 1210 TGT 1214,1219 SL 1205
SELL GOLD BELOW 1203 TGT 1199,1194 SL 1208
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Gold prices eased in Asia on Wednesday as investors continued to watch the dollar, which traded largely flat .On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,209.70 a troy ounce, up 0.09%, after hitting $1,210.30 a troy ounce during U.S. trading, down 0.70%. It hit a session low of $1,205.00 and off a high of $1,220.50. Overnight gold futures edged lower and threatened to post their first quarterly this year after soft European inflation data sparked demand for the U.S. dollar, which trades inversely with the yellow metal. Eurostat, the statistics arm of the European Union, reported earlier that the euro area’s annual inflation rate fell to a five-year low of 0.3% in September from 0.4% in August. Core inflation, which strips out food, energy, alcohol and tobacco costs, came in at 0.7%, down from 0.9% in August.
TRADING STRATEGY :
BUY GOLD ABOVE 1210 TGT 1214,1219 SL 1205
SELL GOLD BELOW 1203 TGT 1199,1194 SL 1208
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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