INTERNATIONAL COMMODITY NEWS :
Gold prices edged lower in listless trading on Wednesday ahead of a flurry of economic indicators due for release on Thursday. On the Comex division of the New York Mercantile Exchange, goldfutures for December delivery traded at 1,284.00 a troy ounce during U.S. trading, down 0.09%, up from a session low of $1,281.10 and off a high of $1,288.30.The December contract settled up 0.49% at $1,285.20 on Tuesday. Futures were likely to find support at $1,273.40 a troy ounce, Thursday’s low, and resistance at $1,291.90, Tuesday’s high.Gold has come under pressure recently on sentiments that the Federal Reserve remains on track to close up stimulus programs around October and begin raising interest rates in 2015.
TRADING STRATEGY :
- BUY GOLD ABOVE 1287 TGT 1291,1296 SL 1282
- SELL GOLD BELOW 1280 TGT 1276,1271 SL 1285
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