INTERNATIONAL COMMODITY NEWS :
Crude oil prices fell in Asia on Tuesday as a key HSBC gauge of manufacturing in China declined into contraction. The HSBC China flash PMI fell to 49.9 in December from 50.0 in November. On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in February traded down at $56.04 a barrel, off 0.39%, after hitting an overnight session low of $56.25 a barrel and off a high of $59.00 a barrel. Brent crude, the global benchmark, slid 1.3% to $61.06 a barrel, the lowest level since July 2009, on ICE Futures Europe on Monday. Overnight, oil prices tumbled on Monday after a key OPEC country said the oil cartel won’t trim output to shore up prices, which fueled ongoing concerns that supply far outstrips demand.
TRADING STRATEGY :
BUY GOLD ABOVE 1208 TARGET 1218 SL 1198
SELL GOLD BELOW 1190 TARGET 1180 SL 1200
Crude oil prices fell in Asia on Tuesday as a key HSBC gauge of manufacturing in China declined into contraction. The HSBC China flash PMI fell to 49.9 in December from 50.0 in November. On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in February traded down at $56.04 a barrel, off 0.39%, after hitting an overnight session low of $56.25 a barrel and off a high of $59.00 a barrel. Brent crude, the global benchmark, slid 1.3% to $61.06 a barrel, the lowest level since July 2009, on ICE Futures Europe on Monday. Overnight, oil prices tumbled on Monday after a key OPEC country said the oil cartel won’t trim output to shore up prices, which fueled ongoing concerns that supply far outstrips demand.
TRADING STRATEGY :
BUY GOLD ABOVE 1208 TARGET 1218 SL 1198
SELL GOLD BELOW 1190 TARGET 1180 SL 1200
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