INTERNATIONAL COMMODITY NEWS :
Oil prices rose on Monday, after dropping for the past two sessions, as escalating clashes in Libya stoked worries about supply from the OPEC member.A fire caused by fighting at one of Libya’s main export terminals has destroyed 800,000 barrels of crude – more than two days of the country’s output, officials said, amid clashes between factions battling for control of the nation..”Libya, and all the other problems, warrants some kind of risk premium,” said Jonathan Barratt, chief investment officer at Sydney’s Ayers Alliance. “Oil is at a level where people are happy to build in a risk premium,”
TRADING STRATEGY :
BUY GOLD ABOVE 1200 TARGET 1205 1211 SL 1194
SELL GOLD BELOW 1192 TARGET 1187 1181 SL 1198
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