Gold prices were hovering near four-year lows in early European trade on Monday, as Friday’s upbeat U.S. economic reports and the Bank of Japan’s surprise move to add stimulus measures boosted the dollar and dampened demand for the precious metal. On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,171.10 a troy ounce during European morning trade, down 0.04%. The December contract settled 2.25% lower on Friday to end at $1,171.6 a troy ounce.
TRADING STRATEGY :
BUY GOLD ABOVE 1166 TGT 1170,1175 SL 1161
SELL GOLD BELOW 1162 TGT 1158,1153 SL 1167
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