INTERNATIONAL COMMODITY NEWS :
• Gold prices fell on Thursday after investors digested the Federal Reserve’s Wednesday statement on interest rates and concluded that tighter monetary policy is drawing closer and usher in a strengthening trend for the dollar. Gold and the greenback tend to trade inversely with one another On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,227.00 a troy ounce during U.S. trading, down 0.72%, up from a session low of $1,216.60 and off a high of $1,228.50.The December contract settled down 0.06% at $1,235.90 on Tuesday.
• Crude oil prices rebounded slightly in Asia on Friday even as storage woes for bulging crude supplies hang over the market as production outpaces demand for now. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded at $92.05 a barrel, up 0.08%, after hitting an overnight session low of $91.84 a barrel and a high of $93.59 a barrel. Brent oil fell 1.3% to $97.70 on ICE Futures Europe Thursday.
• Natural gas prices dropped on Thursday after data showed that U.S. stockpiles surpassed the five-year average last week On the New York Mercantile Exchange, natural gas futures for delivery in October were down 1.76% at $3.943 per million British thermal units during U.S. trading. The commodity hit a session low of $3.905, and a high of $4.027.The October contract settled up 0.45% on Tuesday to end at $4.013 per million British thermal units. Natural gas futures were likely to find support at $3.786 per million British thermal units, last Friday’s low, and resistance at $4.078, the high from Sept. 2.The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. in the week ended Sept. 12 rose by 90 billion cubic feet, broadly in line with market expectations.
• Natural gas futures extended losses on Thursday, after data showed that U.S. natural gas supplies rose more than the five-year average last week. On the New York Mercantile Exchange, natural gas for delivery in October tumbled 7.4 cents, or 1.86%, to trade at $3.942 per million British thermal units during U.S. morning hours. Prices were at $3.980 prior to the release of the supply data. A day earlier, natural gas futures rose to $4.040, the most since September 2, before settling at $4.013, up 1.8 cents, or 0.45%.
- BUY GOLD ABOVE 1230 TGT 1234,1239 SL 1225
- SELL GOLD BELOW 1223 TGT 1219,1214 sl1228