8 January 2014

KEYS TO TRADE IN COMMODITY 08 JAN 2014

"Buy gold  feb @ 29000  tgt  28650/28550 sl 29295"
Gold eased for a second session on Wednesday as equities inched higher on optimism over US economic growth, curbing bullion's safe-haven appeal.
old settled down -0.63% at 28974 given up all it's morning gain as trader booked profit on higher side while Comex Gold settled at 1237.94 near a three-week high as weaker equities and robust physical demand in China supported prices, while U.S. gold futures also steadied after unusually sharp movements the session before. Long-term concerns that the Fed remains on track to continue scaling back monthly bond purchases that have supported the yellow metal since September of 2012 pressured prices lower. 

Gold                     1,226                  down                   3


Oil                         93                     up                    0.27