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INTERNATIONAL COMMODITY NEWS :
Gold price rose slightly in early Asia on Friday on hopes for physical demand as the end of year holiday season approaches. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,161.50 a troy ounce, up 0.05%, after hitting an overnight session low of $1,153.40 and off a high of $1,167.30.
TRADING STRATEGY :
BUY GOLD ABOVE 1162 TGT 1166,1171 SL 1157SELL GOLD BELOW 1155 TGT 1151,1147 SL 1160
The pound continued to move lower against the dollar during the North American trading day Thursday, reaching its lowest level since Sept. 9, 2014, as speculation mounts that it could fall all the way to $1.50 in the coming months.
The pound traded GBPUSD, -0.31% at $1.5710 Thursday evening, compared to $1.5775 Wednesday.
The euro EURGBP, +0.02% also moved higher against the pound, rising to £0.79441, its highest level since Oct. 16. It traded at £0.7884 late Wednesday.
The dollar JPYUSD, -0.42% traded at 115.80 yen, compared to ¥115.47 late Wednesday.
The euro EURUSD, -0.30% moved higher against the dollar Thursday afternoon, trading at $1.2475, compared to $1.2437 Wednesday.
The ICE U.S. Dollar Index DXY, +0.31% a measure of the greenback’s strength against a basket of six currencies, fell 0.08% on the day to 87.8220.
December Natural gas NGZ14, -0.10% declined 21 cents, or 5%, to finish at $3.9770 per million British thermal units. Futures extended their losing streak, now the longest since late October, to a fourth straight session.
Gasoline for December RBZ4, +0.29% fell 10 cents, or 5%, to $2.0016 a gallon on Nymex, its lowest settlement in four years.
December heating oil HOZ4, +0.18% declined 8 cents, or 3.5%, to $2.3621 a gallon also on Nymex, also its lowest since September 2010.
Saudi Arabia’s oil minister left oil markets confused about what direction, if any, the kingdom and OPEC will take to stop oil prices’ free fall, and oil futures traded at fresh multiyear lows on Thursday.
sweet crude futures for delivery in December CLZ4, -0.44% fell $2.97, or 3.9%, to $74.21 a barrel. Futures had settled Wednesday at a three-year low.
December Brent crude LCOZ4, -3.17% on London’s ICE Futures exchange fell $2.46, or 3.1%, to finish at $77.92 a barrel. That was Brent’s lowest settlement since Sept. 9, 2010.
