Gold prices held steady to weaker early Thursday in Asia as investors took note of the Federal Reserve’s confidence on economic growth in the United States. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.09% at $1,210.80 a troy ounce. The Federal Reserve on Wednesday ended its monthly bond purchase program and dropped a characterization of U.S. labor market slack as “significant” in a show of confidence in the economy’s prospects.
TRADING STRATEGY :
BUY GOLD ABOVE 1215 TGT 1219,1223 SL 1210
SELL GOLD BELOW 1209 TGT 1205,1200 SL 1214
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