Comex Commodity Trading Signals and Market News – 30 September 2014


Gold prices dipped in Asia on Tuesday with civil unrest in Hong Kong a continued focus as is data from China on manufacturing. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,215.90 a troy ounce, down 0.04%, after hitting an overnight session low of $1,215.90 and off a high of $1,223.90.In China, HSBC/Market is due to release the final reading of their September PMI at 0945 local (0145 GMT). The flash reading, released last week, showed a surprise uptick to 50.5 from August’s final 50.2, helping lift sentiment. Overnight, gold futures came off earlier highs in trading after the dollar recovered from mixed U.S. Data.

• Better-than-expected U.S. personal spending data coupled with news of refinery closures sent oil prices trading near session highs on Monday. In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded up 1.15% at $94.62 a barrel during U.S. trading. New York-traded oil futures hit a session low of $92.75 a barrel and a high of $94.63 a barrel.The November contract settled up 1.09% at $93.54 a barrel on Friday. Nymex oil futures were likely to find support at $90.41 a barrel, last Monday’s low, and resistance at $95.91 a barrel, the high from Sept. 2.

Natural gas prices rose on Monday after updated weather-forecasting models pointed to falling temperatures across the U.S., which should drive demand for heating in the country’s homes and businesses. On the New York Mercantile Exchange, natural gas futures for delivery in November were up 1.68% at $4.097 per million British thermal units during U.S. trading. The commodity hit a session low of $4.012, and a high of $4.098.The November contract settled up 0.37% on Friday to end at $4.029 per million British thermal units. Natural gas futures were likely to find support at $3.845 per million British thermal units, last Tuesday’s low, and resistance at $4.100, the high from Sept. 17.

Silver for December delivery rose 1.07% to $17.625 an ounce on Friday, paring the week’s losses to 0.83%. Silver prices hit lows of $17.27 an ounce on Thursday, their weakest since June 2010. Comex copper for December delivery eased up 0.27% to end at $3.038 a pound .Elsewhere in metals trading, NYMEX platinum futures for October delivery dropped 1.01% to $1,300.9 an ounce on Friday, the lowest level since October 2009.


  • BUY GOLD ABOVE 1220 TGT 1224,129 SL 1215
  • SELL GOLD BELOW 1213 TGT 1209,1204 SL 1218.20

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