INTERNATIONAL COMMODITY NEWS :
Gold prices edged higher in European morning hours on Friday, helped by a softer U.S. dollar, but the precious metal remained close to a three-week low amid fresh indications the Federal Reserve could raise interest rates before the end of the year.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were up 0.17% at $1,149.40. The December contract ended Thursday’s session 2.45% lower at $1,147.30 an ounce.Futures were likely to find support at $1,138.70, the low from October 8 and resistance at $1,162.00, Thursday’s high. The dollar came under pressure after the Commerce Department reported on Thursday that U.S. gross domestic product grew at an annual rate of 1.5% in the three months to September, missing expectations for growth of 1.6%.
TRADING STRATEGY :
BUY GOLD ABOVE 1150 TARGET 1155 1161 SL 1144
SELL GOLD BELOW 1142 TARGET 1137 1131 SL 1147
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Gold prices edged higher in European morning hours on Friday, helped by a softer U.S. dollar, but the precious metal remained close to a three-week low amid fresh indications the Federal Reserve could raise interest rates before the end of the year.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were up 0.17% at $1,149.40. The December contract ended Thursday’s session 2.45% lower at $1,147.30 an ounce.Futures were likely to find support at $1,138.70, the low from October 8 and resistance at $1,162.00, Thursday’s high. The dollar came under pressure after the Commerce Department reported on Thursday that U.S. gross domestic product grew at an annual rate of 1.5% in the three months to September, missing expectations for growth of 1.6%.
TRADING STRATEGY :
BUY GOLD ABOVE 1150 TARGET 1155 1161 SL 1144
SELL GOLD BELOW 1142 TARGET 1137 1131 SL 1147
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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