INTERNATIONAL COMMODITY NEWS :
Gold and copper prices were mostly steady on Friday in Asia after Japan reported solid industrial output, but downbeat data on jobs, inflation and retail sales National core CPI in Japan rose 2.2%, below the 2.3% year-on-year for January expected. The unemployment rate in January ticked up to 3.6%, compared to an expected steady rate of 3.4%. Household spending fell 5.1% in January year-on-year. Industrial production month-on-month jumped 4.0%, well above an expected gain of 2.7% and retail sales fell 2.0%, compared to a forecast of down 1.3% year-on-year.
TRADING STRATEGY :
BUY GOLD ABOVE 1211.75 TARGET 1216.75 1222.75 SL 1205.75
SELL GOLD BELOW 1205.5 TARGET 1200.5 1194.5 SL 1211.5
Gold and copper prices were mostly steady on Friday in Asia after Japan reported solid industrial output, but downbeat data on jobs, inflation and retail sales National core CPI in Japan rose 2.2%, below the 2.3% year-on-year for January expected. The unemployment rate in January ticked up to 3.6%, compared to an expected steady rate of 3.4%. Household spending fell 5.1% in January year-on-year. Industrial production month-on-month jumped 4.0%, well above an expected gain of 2.7% and retail sales fell 2.0%, compared to a forecast of down 1.3% year-on-year.
TRADING STRATEGY :
BUY GOLD ABOVE 1211.75 TARGET 1216.75 1222.75 SL 1205.75
SELL GOLD BELOW 1205.5 TARGET 1200.5 1194.5 SL 1211.5
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