INTERNATIONAL COMMODITY NEWS :
- Gold prices rallied sharply on Monday, as markets reopened following a series of suicide bombings and shootings in Paris on Friday night that left more than 130 people dead.The attacks led France to launch air strikes in Syria against the Islamic State (ISIS), which claimed responsibility for the attacks.
- Oil prices pushed higher on Monday, as France launched air strikes in Syriaagainst the Islamic State (ISIS) following a series of coordinated attacks in Paris on Friday that killed more than 130 people.Later Monday, political leaders were expected to discuss ways to escalate the war against terrorism and deal with the migration crisis at the annual summit of the Group of 20 nations (G20) in Turkey.
- Copper prices fell to the lowest level since July 2009 on Monday, as appetite for riskier assets took a hit following the weekend attacks in Paris that left 132 dead. Copper for December delivery on the Comex division of the New York Mercantile Exchange shed 2.0 cents, or 0.93%, to trade at $2.148 a pound during morning hours in London.
ECONOMY NEWS :
- Japan entered a recession in the third quarter largely due to weak corporate investment. Gross domestic product contracted by an annualized 0.8% in the third quarter, data published by the Cabinet Office revealed today means economy face recession which is defined as two consecutive quarters of contraction in GDP.
- India’s economic growth was expected to exceed 7.3 percent in the current fiscal year and go higher still in the next one, the country’s finance minister said on Monday.”(The) Indian economy is expected to grow better than 7.3 percent – the level achieved last fiscal year – and at an even higher level next year,” Arun Jaitley told an investment forum in Dubai.
- UK construction output declined 0.2 percent from August, when it tumbled 3.4 percent, revised from a 4.3 percent fall reported earlier, data from the Office for National Statistics Construction output decreased for a third straight month. Year-on-year, construction output decreased for a second straight month, down 1.6 percent in September, after a 0.6 percent fall in the previous month that was revised from a 1.3 percent decline.
TRADING STRATEGY :
- BUY GOLD ABOVE 1098 TAGRET 1107 1114 SL 1088
- SELL GOLD BELOW 1088 TAGRET 1080 1070 SL 1099