Daily Archives: October 31, 2014


Comex Commodity Trading Signals and Market News – 31 October 2014


Gold prices gained slightly on Friday in Asia on a rebound from overnight dips as investors eyed growth demand cues for further direction. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery rose 0.12% to $1,200.00, after hitting an overnight session low of $1,195.70 and off a high of $1,216.50. Overnight, gold prices dropped in the wake of upbeat U.S. growth data and a Federal Reserve decision to close its monthly bond-buying program. Ultra-loose U.S. monetary policies that have supported gold prices since the 2008 financial crisis are on their way out now that the economy is gaining steam.

Crude oil prices fell on Friday in Asia with the focus on demand prospects from major importers like China as the U.S. recovery shows renewed signs of strength. On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in December traded down 0.04% at $80.91 a barrel during U.S. trading, after hitting an overnight session low of $80.81 a barrel and off a high of $82.09 a barrel. Overnight, crude oil futures fell after upbeat U.S. growth data and a Federal Reserve decision to close its monthly bond-buying program bolstered the dollar.

• The global Brent contract ended down 1% at $86.24 a barrel on the ICE Futures Europe exchange Thursday.

• With expectations building for heating demand to rise in the coming days. On the New York Mercantile Exchange, natural gas futures for delivery in December were up 1.03% at $3.827 per million British thermal units during U.S. trading. The commodity hit a session low of $3.771, and a high of $3.834. The December contract settled up 1.53% on Wednesday to end at $3.788 per million British thermal units. Natural gas futures were likely to find support at $3.620 per million British thermal units, Tuesday’s low, and resistance at $3.955, the high from Oct. 14. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. in the week ending Oct. 24 rose by 87 billion cubic feet, above expectations for an increase of 85 billion and compared to a gain of 94 billion in the previous week.


  • BUY GOLD ABOVE 1201 TGT 1205,1210 SL 1196
  • SELL GOLD BELOW 1195 TGT 1191,1186 SL 1200

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IForex Market Trading Signals and News – 31 October 2014


  • Forex-Dollar pares back gains before U.S. GDP report.
  • Forex-Euro off lows vs. dollar after euro zone data.
  • Forex- Dollar index hits 3-1/2 week highs after Fed ends QE

EUR/USD was down 0.41% to 1.2580, off session lows of 1.2555.The single currency found support after official data showed that the number of people unemployed in Germany fell by 22,000 this month, compared to expectations for a gain of 5,000.The country’s unemployment rate was unchanged at 6.7%.The report came after data showing that Spain’s economy grew 0.5% in the three months September, and expanded 1.6% on a year-over- year basis, both in line with forecasts.A separate report showed that the annual rate of inflation in Spain remained below zero this month, falling 0.1% after declining 0.2% in September.

NZD/USD hit 0.7774 during late Asian trade, the pair’s lowest since October 6; the pair subsequently consolidated at 0.7794, easing 0.10%. The pair was likely to find support at 0.7712, the low of October 6 and resistance at 0.7904, the high of October 27.In a widely expected move, the RBNZ held its benchmark interest rate at 3.50% and signaled that borrowing costs should remain on hold for an extended period of time. Commenting on the decision, RBNZ Governor Graeme Wheeler said the New Zealand dollar’s current level “remains unjustified and unsustainable,” adding that he expects “a further significant depreciation.”The U.S. central bank said that althoughthe jobs market is strengthening, there is still room for improvement, but not “significant improvement,” as it has said previously, in the labor market participation rate.


1. Buy EUR/USD Above 1.2619-TG:1.2639/1.2669 SL 1.2589
2. Sell EUR/USD Below 1.2575-TG:1.2555/1.2525 SL 1.2605

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