INTERNATIONAL COMMODITY NEWS :
Gold prices fell in Asia on Thursday after trhe Federal Reserve signaled it remained on track to raise interest rates this year, though the timing remains uncertain.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.11% to trade at $1,285.80 a troy ounce in Asia, while silver futures eased 0.56% to $17.987 a troy ounce.Gold edged lower in quiet trade on Wednesday as the Federal Reserve said the U.S. economy was expanding “at a solid pace” as it largely looked through weakness overseas in a signal that it remains on track to raise interest rates later this year.The U.S. central bank repeated it would be “patient” in deciding when to raise benchmark borrowing costs from zero, where they have been stuck since late-2008.
TRADING STRATEGY :
BUY GOLD ABOVE 1286 TARGET 1291 1297 SL 1280
SELL GOLD BELOW 1271 TARGET 1266 1260 SL 1277
Gold prices fell in Asia on Thursday after trhe Federal Reserve signaled it remained on track to raise interest rates this year, though the timing remains uncertain.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.11% to trade at $1,285.80 a troy ounce in Asia, while silver futures eased 0.56% to $17.987 a troy ounce.Gold edged lower in quiet trade on Wednesday as the Federal Reserve said the U.S. economy was expanding “at a solid pace” as it largely looked through weakness overseas in a signal that it remains on track to raise interest rates later this year.The U.S. central bank repeated it would be “patient” in deciding when to raise benchmark borrowing costs from zero, where they have been stuck since late-2008.
TRADING STRATEGY :
BUY GOLD ABOVE 1286 TARGET 1291 1297 SL 1280
SELL GOLD BELOW 1271 TARGET 1266 1260 SL 1277
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