INTERNATIONAL COMMODITY NEWS :
Crude oil prices dipped sharply in Asia on Friday, extending overnight losses as over-supply worries weighed. On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in January traded at $58.97 a barrel, down 1.64%, after hitting an overnight session low of $60.10 a barrel and off a high of $61.67 a barrel. A stronger greenback tends to make oil a less attractive commodity on dollar-denominated exchanges, especially in the eyes of investors holding other currencies.The U.S. Commerce Department reported earlier that retail sales rose 0.7% last month, beating expectations for a gain of 0.4%
TRADING STRATEGY :
BUY GOLD ABOVE 1226.60 TARGET 1231.60 1237.60 SL 1220.60
SELL GOLD BELOW 1223 TARGET 1218 1212 SL 1229
Crude oil prices dipped sharply in Asia on Friday, extending overnight losses as over-supply worries weighed. On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in January traded at $58.97 a barrel, down 1.64%, after hitting an overnight session low of $60.10 a barrel and off a high of $61.67 a barrel. A stronger greenback tends to make oil a less attractive commodity on dollar-denominated exchanges, especially in the eyes of investors holding other currencies.The U.S. Commerce Department reported earlier that retail sales rose 0.7% last month, beating expectations for a gain of 0.4%
TRADING STRATEGY :
BUY GOLD ABOVE 1226.60 TARGET 1231.60 1237.60 SL 1220.60
SELL GOLD BELOW 1223 TARGET 1218 1212 SL 1229
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