Gold prices eased in Asia on Wednesday as the market readies for the Federal Reserve announcement on its latest policy stance. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,227.90 a troy ounce, down 0.05%, after hitting an overnight session low of $1,222.40 and off a high of $1,235.20. The Fed is widely seen closing its bond-buying program, though uncertainty as to whether or not the statement will contain dovish or hawkish language surrounding interest rates prompted investors to avoid the yellow metal ahead of time.
TRADING STRATEGY :
BUY GOLD ABOVE 1232 TGT 1236,1241 SL 1227
SELL GOLD BELOW 1227 TGT 1222,1217 SL 1232
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