INTERNATIONAL COMMODITY NEWS :
- Gold futures struggled near the lowest level in four weeks on Thursday, amid worries the Federal Reserve will increase interest rates when it meets on September 16-17. Gold for December delivery on the Comex division of the New York Mercantile Exchange inched up $4.30, or 0.39%, to trade at $1,106.30 a troy ounce during European morning hours.
- Copper futures held near the prior session’s seven-week high on Thursday, as weak China inflation data reinforced views that Beijing will roll out fresh support measures soon for the world’s second largest economy.
- Oil prices edged higher on Thursday ahead of weekly U.S. stocks data, despite fresh signs of an economic slowdown in China and Japan that fueled concerns growth could be grinding to a halt. Crude prices have fallen more than 3 percent this week on persistent worries over global demand and a supply glut.
ECONOMY NEWS :
- The U.S. Justice Department has issued new guidelines that emphasize prosecuting individual executives in white-collar crime cases, and not just their corporations.
- NEW YORK/SAN JUAN (Reuters) – Puerto Rico’s new plan to haul itself out of a huge financial hole is long on ifs and buts and short on confident predictions.
- Brazil was awarded an investment-grade rating by S&P in April 2008, when the country’s economy was on the rise. However, since then, a plunge in commodity prices — mainly caused by a drop in Chinese demand — coupled with stringent austerity measures implemented by President Dilma Rousseff’s administration, has created a recession in the country.
TRADING STRATEGY :
- BUY GOLD ABOVE 1113 TARGET 1118 1124 SL 1107
- SELL GOLD BELOW 1110 TARGET 1105 1099 SL 1116