INTERNATIONAL COMMODITY NEWS :
Gold prices gained in Asia on Friday as investors eyed demand from the upcoming Chinese New Year holidays next week. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 0.25% to trade at $1,223.80 a troy ounce. Overnight, gold extended gains on Thursday, after weaker than expected U.S. retail sales and jobless claims data dampened optimism over the strength of the economic recovery. The U.S. Commerce Department said that retail sales declined by 0.8% last month, worse than expectations for a drop of 0.5%.
TRADING STRATEGY :
BUY GOLD ABOVE 1228.25 TARGET 1233.25 1239.25 SL 1222.25
SELL GOLD BELOW 1218 TARGET 1213 1207 SL 1224
Gold prices gained in Asia on Friday as investors eyed demand from the upcoming Chinese New Year holidays next week. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 0.25% to trade at $1,223.80 a troy ounce. Overnight, gold extended gains on Thursday, after weaker than expected U.S. retail sales and jobless claims data dampened optimism over the strength of the economic recovery. The U.S. Commerce Department said that retail sales declined by 0.8% last month, worse than expectations for a drop of 0.5%.
TRADING STRATEGY :
BUY GOLD ABOVE 1228.25 TARGET 1233.25 1239.25 SL 1222.25
SELL GOLD BELOW 1218 TARGET 1213 1207 SL 1224
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