INTERNATIONAL COMMODITY NEWS :
Gold prices fell in Asia Wednesday as investors sold early on gains overnight and kept an eye on the dollar for renewed strength. On the Comex division of the New York Mercantile Exchange, goldfutures for December delivery traded at $1,281.50 a troy ounce, down 0.29%, after hitting an overnight session low of $1,276.20 and off a high of $1,291.70. Overnight, gold prices rose after the U.S. dollar, which trades inversely with the yellow metal, cooled its advance in a bout of profit taking and against mixed U.S. data. Orders for durable goods in June were revised up to a 2.7% gain from a previously reported increase of 1.7%.
TRADING STRATEGY :
- BUY GOLD ABOVE 1288 TGT 1292,1297 SL 1283
- SELL GOLD BELOW 1282 TGT 1278,1273 SL 1287
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