Comex Commodity Trading Signals and Market News – 25 September 2014


Gold futures fell on Wednesday after the greenback advanced on news that far more new homes were sold in the U.S. last month than expected. Gold and the greenback tend to trade inversely with one another. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,217.60 a troy ounce during U.S. trading, down 0.36%, up from a session low of $1,216.30 and off a high of $1,226.70.The December contract settled up 0.34% at $1,222.20 on Tuesday. The Census Bureau reported earlier that U.S. new home sales data rose 18.0% last month to 504,000 units, far surpassing expectations for a 4.4% gain to 430,000 units.

Natural gas prices rose on Wednesday after updated weather-forecasting models called for warm weather in the near term and potentially chilly temperatures in October. On the New York Mercantile Exchange, natural gas futures for delivery in November were up 1.63% at $3.932 per million British thermal units during U.S. trading. The commodity hit a session low of $3.846, and a high of $3.936.The November contract settled down 1.00% on Tuesday to end at $3.869 per million British thermal units. Natural gas futures were likely to find support at $3.846 per million British thermal units, the session low, and resistance at $3.959, Tuesday’s high.

Crude prices edged higher on Wednesday on the coattails of upbeat U.S. inventory data, though concerns the world is awash in oil at a time when global demand remains soft sent futures dipping into negative territory at times. In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded up 0.22% at $91.76 a barrel during U.S. trading. New York-traded oil futures hit a session low of $91.13 a barrel and a high of $92.11 a barrel. The November contract settled up 0.76% at $91.56 a barrel on Tuesday.

Crude oil futures edged higher on Wednesday, but gains were expected to remain limited as ample supplies and weak economic data from the euro zone overshadowed geopolitical tensions in the Middle East. On the New York Mercantile Exchange, crude oil for delivery in November traded at $91.66 a barrel during European morning trade, up 0.10%.Prices gained 0.76% on Tuesday to settle at $91.56. Iraq and Nigeria are reportedly stepping up exports, adding more oil to the market, while output at Libya has rebounded as well.


  • BUY GOLD ABOVE 1217 TGT 1221,1225 SL 1212
  • SELL GOLD BELOW 1210 TGT 1214,1218 SL 1205

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