INTERNATIONAL COMMODITY NEWS :
Gold prices fell further in early Asia on Monday with investors eyeing China manufacturing data. China is to release official data on manufacturing activity in November that came in at 50.8 in October as well as the HSBC manufacturing index expected at 50.0. On the Comex division of the New York Mercantile Exchange , gold future for February delivery traded at $1,153.50 a troy ounce, down 1.06%, after hitting the weakest level Nov. 14, before settling at $1,175.50 by close of trade, down $22.00, or 1.84% on Friday.
TRADING STRATEGY :
BUY GOLD ABOVE 1159 TARGET 1164 1170 SL 1153
SELL GOLD BELOW 1142.5 TARGET 1137.5 1132.5 SL 1148
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Gold prices fell further in early Asia on Monday with investors eyeing China manufacturing data. China is to release official data on manufacturing activity in November that came in at 50.8 in October as well as the HSBC manufacturing index expected at 50.0. On the Comex division of the New York Mercantile Exchange , gold future for February delivery traded at $1,153.50 a troy ounce, down 1.06%, after hitting the weakest level Nov. 14, before settling at $1,175.50 by close of trade, down $22.00, or 1.84% on Friday.
TRADING STRATEGY :
BUY GOLD ABOVE 1159 TARGET 1164 1170 SL 1153
SELL GOLD BELOW 1142.5 TARGET 1137.5 1132.5 SL 1148
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