Gold gained in Asia on Thursday as India moves into the festive season of Diwali and fall weddings with the precious metal a traditional gift. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,249.90 a troy ounce, up 0.37%, after hitting an overnight session low of $1,244.60 and off a high of $1,258.50. Gains were limited, however, as expectations for changing U.S. monetary policy within a year supported the dollar, which trades inversely with gold. The December contract settled down 0.46% at $1,248.50 on Tuesday.
TRADING STRATEGY :
BUY GOLD ABOVE 1252 TGT 1256,1261 SL1247
SELL GOLD BELOW 1245 TGT 1241.1237 SL 1250
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