skip to main |
skip to sidebar
INTERNATIONAL COMMODITY NEWS :
Gold prices held steady in Asia early Wednesday with investors on the sidelines awaiting new demand cues. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,163.70 a troy ounce, down 0.03%, after hitting an overnight session low of $1,145.60 and off a high of $1,165.70. Overnight, gold prices moved higher on Tuesday on a double shot of rising physical demand and a weaker dollar.
TRADING STRATEGY :
BUY GOLD ABOVE 1165 TGT 1169,1174 SL 1160
SELL GOLD BELOW 1160 TGT 1156,1151 SL 1165
U.S. stocks finished Tuesday’s thinly-traded sideways session essentially flat, but still mustered enough forward momentum to post record highs for the fifth straight trading session.
The S&P 500 SPX, +0.07% added 1.42 points to 2,039.68, registering a fresh record. The Dow Jones Industrial Average DJIA, +0.01% ended the day essentially flat at 17,614.90. The Nasdaq Composite COMP, +0.19% rose 8.94 points, or 0.2%, to 4,660.56.
The dollar hit a seven-year high against the yen before retreating somewhat, on a relatively subdued Veterans Day trading session.
After breaking above the 116-yen level in morning trade — the highest point for the dollar/yen trade since Oct. 17, 2007 — the dollar drifted lower. It last traded USDJPY, -0.12% at ¥115.37 Tuesday afternoon, compared to ¥114.94 Monday.
The euro EURUSD, -0.04% traded at $1.2480 Tuesday afternoon, compared to ¥1.2425 late Monday. The ICE U.S. Dollar Index DXY, +0.02% , a measure of the dollar’s strength against a basket of six currencies, was down 0.35% at 87.4990.
The kiwi NZDUSD, +0.27% rose as high as 78.43 cents after the report, before retreating back to 78.03 cents. It traded at 77.52 cents late Monday.
The pound GBPUSD, -0.04% continued to inch higher against the dollar in Tuesday’s session, trading at $1.5920, compared to $1.5845 Monday, ahead of the U.K.’s quarterly inflation report, due at 5:30 a.m. Eastern.
December silver SIZ4, +0.17% settled up less than a penny at just under $15.68 an ounce.
High-grade copper for December delivery HGZ4, -0.16% rose just over a penny to settle at $3.03 a pound.
January platinum PLF5, -0.28% lost 20 cents to settle at $1,206.70 an ounce while December palladium PAZ4, -0.23% rose $6.45, or 0.8%, to settle at $772.70 an ounce.
Nymex reformulated gasoline blendstock for December RBZ4, -0.20% --the benchmark gasoline contract--fell 19 points to $2.0992 a gallon, while December diesel traded at $2.4559, 134 points lower.
ICE gasoil for November changed hands at $732.00 a metric ton, down $10.50 from Monday’s settlement.
