INTERNATIONAL COMMODITY NEWS :
Gold prices eased in Asia on Monday in light trade as sentiment on the timing of a widely expected Federal Reserve rate hike guides investors. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.24% to 1,181.70 a troy ounce. Gold rallied to a two-week high on Friday, as the U.S. dollar sold off after the Federal Reserve projected a slower pace of rate hikes following its policy meeting earlier in the week. Dollar weakness usually benefits gold, as it boosts the metal’s appeal as an alternative asset and makes dollar- priced commodities cheaper for holders of other currencies. The dollar’s losses came after the Federal Reserve downgraded its forecasts for growth and inflation and lowered its interest rate projections, prompting investors to push back expectations on the timing and pace of future rate increases.
TRADING STRATEGY :
BUY GOLD ABOVE 1188 TARGET 1193 1199 SL 1182
SELL GOLD BELOW 1178 TARGET 1173 1167 SL 1184
Gold prices eased in Asia on Monday in light trade as sentiment on the timing of a widely expected Federal Reserve rate hike guides investors. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.24% to 1,181.70 a troy ounce. Gold rallied to a two-week high on Friday, as the U.S. dollar sold off after the Federal Reserve projected a slower pace of rate hikes following its policy meeting earlier in the week. Dollar weakness usually benefits gold, as it boosts the metal’s appeal as an alternative asset and makes dollar- priced commodities cheaper for holders of other currencies. The dollar’s losses came after the Federal Reserve downgraded its forecasts for growth and inflation and lowered its interest rate projections, prompting investors to push back expectations on the timing and pace of future rate increases.
TRADING STRATEGY :
BUY GOLD ABOVE 1188 TARGET 1193 1199 SL 1182
SELL GOLD BELOW 1178 TARGET 1173 1167 SL 1184
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