INTERNATIONAL COMMODITY NEWS :
Crude oil prices fell in early Asia on Wednesday in holiday-thinned trade for the Lunar New Year and as closely watched data on U.S. supplies may be further delayed. On the New York Mercantile Exchange, crude oil for delivery in April fell 0.20% to trade at $53.87 a barrel. A snow storm closed U.S. Federal government offices in Washington on Tuesday. That may further delay data from industry group, the American Petroleum Institute, on U.S. supplies of crude and refined products that is normally released on Tuesday. As well, more closely watched data from the U.S. Department of Energy has also been delayed from its normal Wednesday release. Industry research group Baker Hughes (NYSE:BHI) said that the number of rigs drilling for oil in the U.S. fell by 84 last week to 1,056, the lowest since August 2011.
TRADING STRATEGY :
BUY GOLD ABOVE 1210 TARGET 1215 1221 SL 1204
SELL GOLD BELOW 1203 TARGET 1198 1192 SL 1209
Crude oil prices fell in early Asia on Wednesday in holiday-thinned trade for the Lunar New Year and as closely watched data on U.S. supplies may be further delayed. On the New York Mercantile Exchange, crude oil for delivery in April fell 0.20% to trade at $53.87 a barrel. A snow storm closed U.S. Federal government offices in Washington on Tuesday. That may further delay data from industry group, the American Petroleum Institute, on U.S. supplies of crude and refined products that is normally released on Tuesday. As well, more closely watched data from the U.S. Department of Energy has also been delayed from its normal Wednesday release. Industry research group Baker Hughes (NYSE:BHI) said that the number of rigs drilling for oil in the U.S. fell by 84 last week to 1,056, the lowest since August 2011.
TRADING STRATEGY :
BUY GOLD ABOVE 1210 TARGET 1215 1221 SL 1204
SELL GOLD BELOW 1203 TARGET 1198 1192 SL 1209
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