Gold futures were hovering near more than one-month lows on Friday, still weighed by Thursday’s report showing that the number of people who filed for unemployment assistance in the U.S. last week fell to the lowest level since February 2006. On the Comex division of the NewYork Mercantile Exchange, gold for August delivery traded at $1,293.20 a troy ounce during European afternoon trade, adding 0.19%.The August contract settled 1.07% lower on Thursday to end at $1,290.8 a troy ounce.Gold futures were likely to find support at $1,376.20 an ounce, the low from June 19 and resistance at $1,311.80, the high from July 23.
TRADING STRATEGY :
BUY GOLD COMEX ABOVE 1314 TG 1320,1330 SL 1308
SELL GOLD COMEX BELOW 1308 TG 1302,1292 SL 1314
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