Gold Trading Advisory Update for Jan 01st

Gold still looks bullish. Finally hit the target of 1295.00 from my gold trade signal alert from Dec 20th.  This information is provided for informational and educational purposes only and is not a recommendation to buy or sell any gold contract. Here’s the chart which is provided by Barchart.com

Gold Trading News For Today

Gold soared above $1300 per ounce on good bargain buying. The metal gained around 6% last year – recording its best annual performance in seven years. MCX Gold futures moved in a tight range today amid thin trades and currently trade at Rs 29120 per 10 grams, down marginally on the day. Large metals speculators added to their bullish net positions in the Gold futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 113,795 contracts in the data reported through Tuesday December 26th. This was a weekly gain of 6,727 contracts from the previous week. Powered by Commodity Insights

Good Trading!

Guy

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