INTERNATIONAL COMMODITY NEWS :
Gold futures edged up on Friday, but still remained within close distance of six-week lows as Thursday’s data showing that U.S. unemployment benefits remained near a post-recession bottom last week continued to weigh. On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,285.40 a troy ounce during European morning trade, adding 0.20%.The December contract settled 1.09% lower on Thursday to end at $1,282.8 a troy ounce. Gold futures were likely to find support at $1,276.20 an ounce, the low from June 19 and resistance at $1,298.80, Thursday’s high. On Thursday, the U.S. Department of Labor said that the number of individuals filing for initial jobless benefits increased by 23,000 last week to 302,000 from the previous week’s total of 279,000, which was the lowest in 14 years.
TRADING STRATEGY :
BUY GOLD COMEX ABOVE 1298 TG 1304,1314 SL 1288
SELL GOLD COMEX BELOW 1279 TG 1273,1263 SL 1289
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Gold futures edged up on Friday, but still remained within close distance of six-week lows as Thursday’s data showing that U.S. unemployment benefits remained near a post-recession bottom last week continued to weigh. On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,285.40 a troy ounce during European morning trade, adding 0.20%.The December contract settled 1.09% lower on Thursday to end at $1,282.8 a troy ounce. Gold futures were likely to find support at $1,276.20 an ounce, the low from June 19 and resistance at $1,298.80, Thursday’s high. On Thursday, the U.S. Department of Labor said that the number of individuals filing for initial jobless benefits increased by 23,000 last week to 302,000 from the previous week’s total of 279,000, which was the lowest in 14 years.
TRADING STRATEGY :
BUY GOLD COMEX ABOVE 1298 TG 1304,1314 SL 1288
SELL GOLD COMEX BELOW 1279 TG 1273,1263 SL 1289
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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