INTERNATIONAL COMMODITY NEWS :
Gold prices pulled away from a three-week low on Tuesday, but still remained below the $1,200 threshold as the strong U.S. dollar continued to weigh on the precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were up 0.23% to $1,182.50.The February contract ended Monday’s session 1.35% lower at $1,179.80 an ounce.The dollar remained supported after the Federal Reserve signaled last week that it was on track to raise interest rates next year but said it was taking a patient stance.Higher U.S. interest rates would boost the greenback and weigh on gold, which has benefited from central bank liquidity and a low interest rate environment since the 2008 financial crisis.
TRADING STRATEGY :
BUY GOLD ABOVE 1180 TARGET 1185 1191 SL 1174
SELL GOLD BELOW 1172 TARGET 1167 1161 SL 1178
Gold prices pulled away from a three-week low on Tuesday, but still remained below the $1,200 threshold as the strong U.S. dollar continued to weigh on the precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were up 0.23% to $1,182.50.The February contract ended Monday’s session 1.35% lower at $1,179.80 an ounce.The dollar remained supported after the Federal Reserve signaled last week that it was on track to raise interest rates next year but said it was taking a patient stance.Higher U.S. interest rates would boost the greenback and weigh on gold, which has benefited from central bank liquidity and a low interest rate environment since the 2008 financial crisis.
TRADING STRATEGY :
BUY GOLD ABOVE 1180 TARGET 1185 1191 SL 1174
SELL GOLD BELOW 1172 TARGET 1167 1161 SL 1178
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