INTERNATIONAL COMMODITY NEWS :
Gold prices gained in Asia on Monday after data from around the region since the weekend that investors noted mostly favored a low- interest rate environment, but also showed upbeat trends. The HSBC China final manufacturing index for February rose to 50.7 into the expansion zone and above the flash reading of 50.1.The People’s Bank of China cut its benchmark interest rate by a quarter percentage point to 5.35%.Also at the weekend, the February China Federation of Logistics and Purchasing (CFLP) manufacturing PMI improved for the first time in seven months, despite the Chinese New Year holiday, but remained just below the 50 mark, indicating that the sector contracted for a second straight month. The index rose to 49.9 in February from 49.8 in January.
TRADING STRATEGY :
BUY GOLD ABOVE 1223.75 TARGET 1228.75 1234.75 SL 1217.75
SELL GOLD BELOW 1216 TARGET 1211 1205 SL 1222
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Gold prices gained in Asia on Monday after data from around the region since the weekend that investors noted mostly favored a low- interest rate environment, but also showed upbeat trends. The HSBC China final manufacturing index for February rose to 50.7 into the expansion zone and above the flash reading of 50.1.The People’s Bank of China cut its benchmark interest rate by a quarter percentage point to 5.35%.Also at the weekend, the February China Federation of Logistics and Purchasing (CFLP) manufacturing PMI improved for the first time in seven months, despite the Chinese New Year holiday, but remained just below the 50 mark, indicating that the sector contracted for a second straight month. The index rose to 49.9 in February from 49.8 in January.
TRADING STRATEGY :
BUY GOLD ABOVE 1223.75 TARGET 1228.75 1234.75 SL 1217.75
SELL GOLD BELOW 1216 TARGET 1211 1205 SL 1222
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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