INTERNATIONAL COMMODITY NEWS :
Gold prices erased gains on Monday, as a short-covering rally that boosted futures to a two-week high earlier in the session lost momentum. Elsewhere, news that Japan has entered a recession fueled demand for the dollar, which pressured gold prices lower. Gold and the dollar tend to trade inversely with one another. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.08% at $1,184.60, up from a session low of $1,181.10 and off a high of $1,193.60. The December contract settled up 2.07% at $1,185.60 on Friday.
TRADING STRATEGY :
BUY GOLD ABOVE 1187 TGT 1192,1197 SL 1182
SELL GOLD BELOW 1182 TGT 1178,1173 SL 1187
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