Comex Trading Signals and Market News – 18 February 2016


  • Gold futures edged lower in Europe trade on Wednesday, but held above the $1,200-level as market players looked ahead to minutes of the Federal Reserve’s January policy meeting for fresh indications on whether the U.S. central bank will raise interest rates at all this year.Gold for April delivery on the Comex division of the New York Mercantile Exchange shed $2.90, or 0.24%, to trade at $1,205.30 by 08:55GMT, or 3:55AM ET.
  • Oil prices extended losses from the prior session in Europe trade on Wednesday, as OPEC members travel to Tehran in an attempt to convince Iran to join an oil production freeze deal.Venezuelan Oil Minister Eulogio Del Pino and Iraqi Oil Minister Adel Abdel Mahdi were to travel to Tehran for talks with their Iranian counterpart Bijan Zanganeh scheduled for 10:30GMT, or 5:30AM ET, in a bid to reach a deal to restrain output and prop up sagging prices.
  • Natural Gas futures were trading higher during noon trade in the domestic market on Wednesday as traders took advantage of cheaper valuations amidst the recent drop in prices of the energy commodity.The fuel has been hit by worries that warmer weather across the US in the coming weeks may curb the demand for the heating fuel in the world’s biggest gas consuming nation.


  • Chinese policymakers emerged from the Lunar New Year hiatus with one collective message for nervous investors at home and abroad – Beijing will put a floor under the slowing economy, keep its currency steady and ensure employment remains stable even as bloated industries undergo restructuring.The string of assurances comes ahead of two high-profile political events for China: a meeting of G20 finance chiefs in Shanghai later this month and next month’s annual gathering of China’s legislature – where the next five-year economic development plan will be finalised.
  • India’s top court has asked the central bank to provide the names of corporate loan defaulters with outstanding debt of at least 5 billion rupees ($73.11 million), as well as details of restructured assets.The Reserve Bank of India would need to provide the information within two months, though it could keep details under “sealed cover”, a directive from the Supreme Court said.
  • Financial markets that predicted eight of the last six recessions may be yet be wrong again, but market stress itself is now part of the calculus and leaves the world more open to left-field shocks.Given the violence of this year’s slump in equities, where more than $8 trillion has been wiped off global stock market values, it is remarkable how few economists still see recession as the most likely outcome.


  • BUY GOLD ABOVE 1205 TARGET 1210 1216 SL 1199
  • SELL GOLD BELOW 1098 TAGRET 1093 1087 SL 1104

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