Gold: Weekly strategy

Gold futures, December contract reached almost $1800.00 and made a session's high@1797.35 range today after US open. After released US CPI data, Gold prices zoomed and made a last 15 days high.

People believes in safe heaven demands as Gold and Silver at this type of financial and inflation related situations.

Last week's US non farm payrolls and Fed's taper timeline once again in action that's why Gold prices was raised.

Expectations of some profit booking in this week at higher levels in Hedge funds like Gold and Silver.

INTRADAY AND WEEKLY TRADING STRATEGY FOR GOLD.....

Sell Gold $1797.00-$1800.00 range(December-Future)

SL $1810.60(14 Sep high)

Tgt1 $1777.00
Tgt2 $1767.00
Tgt3 $1757.00(Today's low)