Gold prices held nearly steady in Asia on Friday as investors weighed the prospects for a Federal Reserve rate hike in the coming year. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,224.40a troy ounce, down 0.02%, after hitting an overnight session low of $1,219.40 and off a high of $1,233.70. Gold prices firmed on the news, as the yellow metal has taken a pounding in recent sessions on speculation that interest rates were to set to rise sooner rather than later in 2015.
TRADING STRATEGY :
BUY GOLD ABOVE 1225 TGT 1229,1235 SL 1220
SELL GOLD BELOW 1217 TGT 1213,1208 SL 1222
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