INTERNATIONAL COMMODITY NEWS :
- Oil prices fell on Thursday after weak Japanese data sounded alarm bells over the prospects for global growth, outweighing the bullish impact of a bigger-than-expected decline in U.S.crude oil stocks.
- Gold prices were trading close to their highest level in a week on Thursday as weak U.S. inflation data weighed on the dollar and raised hopes that the Federal Reserve would hold off hiking interest rates.
- Crude oil gained on Thursday with investors looking ahead to the Federal Reserve’s view on interest rates and noting lower stocks in the U.S. On the New York Mercantile Exchange, WTI crude for October delivery rose 0.19% to $47.24 a barrel.
ECONOMY NEWS :
- WASHINGTON (Reuters) – U.S. President Barack Obama urged Congress on Wednesday to avoid shutting down the government starting on Oct. 1, as Republicans in the House of Representatives struggled to get enough votes to pass a bill to fund it.
- Greece’s leftist Syriza party has a 0.6 percentage point lead over the conservative New Democracy party, a Kapa Research poll for To Vima newspaper showed on Thursday.
- European unease that Greece may falter on its bailout promises after elections on Sunday looks misplaced, at least initially, as its pressing need for money means that whoever wins is likely to toe the line.
TRADING STRATEGY :
- BUY GOLD ABOVE 1130 TARGET 1135 1141 SL 1124
- SELL GOLD ABOVE 1126 TARGET 1121 1115 SL 1131