INTERNATIONAL COMMODITY NEWS :
Gold price gained slightly in early Asia on Monday in a light regional data day and the focus on the dollar.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery trade at $1,223.80 a troy ounce, up 0.04%.The US dollar index, which measures the dollar against a basked of six major currencies, fell 0.22% to 91.98.Last week, gold rallied to the highest level in almost four weeks on Friday, after the latest U.S. jobs report showed a surprise drop in hourly wages, suggesting that the Federal Reserve could keep rates on hold for longer.The Labor Department reported that the U.S. economy added 252,000 jobs in December, above expectations for jobs growth of 240,000. The unemployment rate ticked down to a six-and-a-half year low 5.6% from 5.8% in November. Economists had forecast a decline to 5.7%.
TRADING STRATEGY :
BUY GOLD ABOVE 1230 TARGET 1235 1241 SL 1224
SELL GOLD BELOW 1221 TARGET 1216 1210 SL 1227
Gold price gained slightly in early Asia on Monday in a light regional data day and the focus on the dollar.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery trade at $1,223.80 a troy ounce, up 0.04%.The US dollar index, which measures the dollar against a basked of six major currencies, fell 0.22% to 91.98.Last week, gold rallied to the highest level in almost four weeks on Friday, after the latest U.S. jobs report showed a surprise drop in hourly wages, suggesting that the Federal Reserve could keep rates on hold for longer.The Labor Department reported that the U.S. economy added 252,000 jobs in December, above expectations for jobs growth of 240,000. The unemployment rate ticked down to a six-and-a-half year low 5.6% from 5.8% in November. Economists had forecast a decline to 5.7%.
TRADING STRATEGY :
BUY GOLD ABOVE 1230 TARGET 1235 1241 SL 1224
SELL GOLD BELOW 1221 TARGET 1216 1210 SL 1227
No comments:
Post a Comment