8Sep

Comex Commodity Trading Signals and Market News – 08 September 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices gain in Asia on Monday, underpinned by physical demand ahead of the main gold buying season in India. On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,268.80 a troy ounce, up 0.12%, after gaining 0.06% to settle at $1,267.30 a troy ounce by close of trade on Friday. The Indian festival of lights, Diwali, lies ahead as well as a traditional time for wedding celebrations with gold a common gift on both occasions. the Department of Labor said that the U.S. economy added 142,000 jobs in August, the lowest amount in eight months and less than the expected increase of 225,000. Despite Friday’s modest gains, Comex gold prices lost 1.56%, or $20.10, on the week, as the U.S. dollar rose to a 13-month peak against a basket of currencies.

• U.S. natural gas futures ended Friday’s session close to a three-week low as concerns over a slowdown in demand weighed. On the New York Mercantile Exchange, natural gas for delivery in October shed 0.68%, or 2.6 cents, to settle at $3.793 per million British thermal units by close of trade on Friday. Prices fell to $3.781 earlier in the session, the lowest since August 18. Futures were likely to find support at $3.760 per million British thermal units, the low from August 18 and resistance at $3.917, the high from September 3. On the week, Nymex natural gas prices lost 6.69%, or 27.2 cents.

Crude oil futures declined on Friday, following the release of disappointing U.S. employment data and as Ukraine and pro-Russian separatists agreed to a ceasefire. On the New York Mercantile Exchange, crude oil for delivery in October tumbled 1.23%, or $1.09, to end the week at $93.29 a barrel by close of trade on Friday. Nymex oil futures were likely to find support at $92.68 a barrel, the low from September 2, and resistance at $95.39 a barrel, the high from September 4.For the week, New York-traded oil futures lost 2.78%, or $2.67, the ninth weekly decline over the past 11 weeks. In a report, the Department of Labor said that the U.S. economy added 142,000 jobs in August, the lowest amount in eight months and less than the expected increase of 225,000.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1272 TGT 1276,1281 SL 1267
  • SELL GOLD BELOW 1265 TGT 1269,1274 SL 1261

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

Share this Story

About epicsingapore

Leave a Reply

Your email address will not be published. Required fields are marked *

*

© Copyright 2013, All Rights Reserved, Epic Research Pvt. Ltd.