27Nov

Comex Trading Signals and Market News – 27 November 2015

INTERNATIONAL COMMODITY NEWS :

  • Copper prices surged on Thursday, along with other base metals such asnickel and zinc, as China regulators were said to consider a probe into metal short-selling in the local market.Copper for March delivery on the Comex division of the New York Mercantile Exchange rallied 5.3 cents, or 2.59%, to trade at $2.102 a pound during morning hours in London.
  • Gold struggled near six-year lows in holiday-thinned trade on Thursday, after a recent batch of upbeat U.S. economic data reinforced expectations for a Fed rate hike next month.Gold for December delivery on the Comex division of the New York Mercantile Exchange tacked on $1.20, or 0.11%, to trade at $1,071.20 a troy ounce during European morning hours
  • Oil fell on Thursday as fears of escalating violence causing supply disruption in the Middle East faded and focus returned to a persistent market glut and increased global output.Brent was down 46 cents to $45.71 a barrel at 0859 GMT.West Texas Intermediate (WTI) futures were down 21 cents at $42.83 per barrel after the U.S. crude rose to $43.30 earlier the session.

ECONOMY NEWS :

  • Eurozone broad monetary aggregate M3 increased 5.3 percent, faster than the 4.9 percent growth registered in September, the European Central Bank reported Thursday. The growth averaged 5.1 percent in three months to October. At the same time, the narrower aggregate M1, which includes currency in circulation and overnight deposits, climbed 11.8 percent annually after rising 11.7 percent in September.
  • Japan’s biggest business lobby forecast on Thursday that capital spending could grow 14 percent over the next three years if the government adopts sweeping reforms, including a swift cut in the corporate tax rate. The ambitious projection – for capital spending to hit 81.7 trillion yen (441 billion pounds) in the fiscal year that starts from April 2018 – was presented by Keidanren during a meeting between cabinet ministers and business leaders.
  • A proposed new Indian sales tax should be set at a rate of less than 20 percent, the opposition Congress party said on Thursday, signalling willingness to compromise as long as the government takes into account its concerns. The comments by senior Congress leader Anand Sharma came as parliament opened its winter session, with a proposed goods and services tax (GST) topping the to-do list of Prime Minister Narendra Modi’s nationalist government.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1075 TARGET 1080 1086 SL 1069
  • SELL GOLD BELOW 1066 TARGET 1061 1055 SL 1072

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH SINGAPORE.

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.