Comex Trading Signals and Market News – 18 April 2016


  • Gold prices regained some ground in European morning hours on Friday, after hitting one-week lows in the previous session due to a stronger U.S. dollar, as the release of upbeat data Chinese economic growth boosted demand for the precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were up 0.38% at $1,231.10.
  • Crude oil prices gained in Asia on Friday as China GDP data met expectations, though clocked the weakest annual pace since 2009. On the New York Mercantile Exchange, WTI crude for May delivery rose 0.19% to $41.58 a barrel. Brent crude was up 0.09% to $43.89 a barrel.
  • 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.


  • It is lackluster demand that is holding back the euro zone economy, not availability of credit, an overwhelming majority of forecasters polled by Reuters said, adding that the European Central Bank won’t cut negative deposit rate any further.The latest survey results underscored the view that there are limits to how much more monetary policy can do after the ECB surprised in March with a volley of interest rate cuts, additional monthly bond purchases and more cheap loans for banks designed as an incentive for them to lend more.
  • China posted its slowest economic growth since 2009 but a surge of new debt appears to be fueling a recovery in factory activity, investment and household spending in the world’s second largest economy. That’s good news in the near-term, economists say, but many worry it marks a return to the old playbook used during the financial crisis, when Beijing hand-cranked its economy out of a slowdown through massive stimulus, rather than structural reform.
  • Australia’s financial system is in good shape overall though risks have grown in the apartment, commercial and recource sectors that bear close watching, the country’s central bank said on Friday.In a 62-page semi-annual report on the health of the banking sector, the Reserve Bank of Australia (RBA) highlighted pockets of domestic and foreign risks.


  • BUY GOLD ABOVE 1232 TGT 1237 1243 SL BELOW 1226
  • SELL GOLD BELOW 1225 TGT 1220 1214 SL ABOVE 1231

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