Comex Trading Signals and Market News – 15 April 2016


  • Copper prices rose by 3.97 per cent on Wednesday after China’s exports in March returned to growth for the first time in nine months adding to further signs of stabilization in the world’s second-largest economy that cheered regional investors which raised the demand outlook for the metal. March exports rose a blistering 11.5 percent from a year earlier the first increase since June and the largest percentage rise since February 2015.
  • Gold prices fell by 0.62 per cent on Wednesday with trade data out of China showing a mixed picture after exports unexpectedly soared. In China March trade data showed a trade balance surplus of $29.86 billion narrower than the $30.85 billion seen. Exports however jumped 11.5 per cent handily beating the 2.5 per cent year-on-year gain seen while imports fell 13.8 per cent more than the 10.2 per cent decline expected.
  • Crude oil prices fell by 1.11 per cent on Wednesday after US API weekly crude stocks rose more-than-expected last week indicating that the demand for the commodity in US world’s largest consumer of crude oil is weak. In a report American Petroleum Institute said that US API Weekly Crude Stock rose to 6.200M from -4.300M in the preceding week. Analysts had expected US API Weekly Crude Stock to rise 1.000M last week.


  • India’s growth rate is set to remain one of the fastest in the world this year with inflation running just slightly above 5 percent, leaving the Reserve Bank of India on the sidelines for at least another six months, a Reuters poll showed on Thursday. The RBI is forecast to cut the repo rate to 6.25 percent in the last three months of the year, according to poll of more than 40 economists taken April 6-13, but much will depend on the inflation outlook.
  • Prime Minister David Cameron’s ratings have fallen 8 percentage points as he battles to keep Britain in the European Union ahead of a June referendum, according to a YouGov poll for The Times newspaper on Thursday. The survey showed that 39 percent of voters backed Britain staying in the 28-member bloc level pegging with the support for withdrawal. Five percent said they would not vote while 17 percent were undecided, the online poll of 1,693 people carried out on April 11-12 found.
  • Central bankers usually worry about when to remove the punch bowl of cheap finance but when they gather in Washington, D.C. this week they will face a different problem: how to force the world to drink.Amid a flood of cheap money and a historic experiment with negative interest rates, households, corporations and banks in the developed world have turned their backs on borrowing. Credit growth has flat-lined and an array of metrics indicate the world has become a more cautious place, potentially upending whatever bang for the buck central banks might expect.


  • BUY GOLD ABOVE 1245 TGT 1250 1256 SL BELOW 1239
  • SELL GOLD BELOW 1235 TGT 1230 1224 SL ABOVE 1241

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