INTERNATIONAL COMMODITY NEWS :
Gold prices eased in early Asia on Thursday with events surrounding Greece in sharper focus and the implications for euro zone stability. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery eased 0.08% to trade at $1,219.90 a troy ounce.Prices were supported amid speculation of further monetary easing from the People’s Bank of China following Tuesday’s lower-than-expected inflation data. Investors were also looking at a bump from seasonal physical gold demand ahead of the Chinese New Year holiday and any stockpiling of copper ahead of a week-long break.Overnight, gold inched up modestly in cautious trade on Wednesday, as Greece’s Finance Minister Yanis Varoufakis was to meet with other finance ministers of the euro zone later in the day to discuss a solution to Greece’s bailout program.
TRADING STRATEGY :
BUY GOLD ABOVE 1224 TARGET 1229 1235 SL 1218
SELL GOLD BELOW 1216 TARGET 1211 1205 SL 1222
Gold prices eased in early Asia on Thursday with events surrounding Greece in sharper focus and the implications for euro zone stability. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery eased 0.08% to trade at $1,219.90 a troy ounce.Prices were supported amid speculation of further monetary easing from the People’s Bank of China following Tuesday’s lower-than-expected inflation data. Investors were also looking at a bump from seasonal physical gold demand ahead of the Chinese New Year holiday and any stockpiling of copper ahead of a week-long break.Overnight, gold inched up modestly in cautious trade on Wednesday, as Greece’s Finance Minister Yanis Varoufakis was to meet with other finance ministers of the euro zone later in the day to discuss a solution to Greece’s bailout program.
TRADING STRATEGY :
BUY GOLD ABOVE 1224 TARGET 1229 1235 SL 1218
SELL GOLD BELOW 1216 TARGET 1211 1205 SL 1222
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