INTERNATIONAL COMMODITY NEWS :
Gold prices rose in early Asian trade on Friday as markets head into year-end holidays and light data flows.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,196.50 a troy ounce, up 0.14%, after hitting an overnight session low of $1,187.10 and off a high of $1,213.80.Overnight, gold futures came off earlier highs but held steady on Thursday after the Federal Reserve will exercise patience raising interest rates.Gold prices have tumbled in recent months as markets prep for the Fed to raise interest rates, which is widely seen taking place in 2015, as higher borrowing costs chip away at the precious metal’s appeal as a hedge to weaker paper currencies, the product of loose monetary policy.
TRADING STRATEGY :
SELL GOLD BELOW 1192 TARGET 1187 1182 SL 1198
BUY GOLD ABOVE 1202 TARGET 1207 1213 SL 1196
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