Comex Trading Signals and Market News – 22 April 2016


  • Silver prices rallied to 11-month highs on Thursday and gold rose to one-and-a-half week highs as higher oil prices fed into a stronger tone across commodities.Silver futures for May delivery were at $17.43 an ounce at 1208 GMT after rising to highs of $17.62 earlier, levels not seen since May 2015.Gold futures for June delivery were up 0.65% at $1,262.4 an ounce.
  • Crude prices firmed on Thursday after the International Energy Agency (IEA) said 2016 would see the biggest fall in non-OPEC production in a generation, helping to rebalance a market dogged by oversupply.IEA chief Fatih Birol said low oil prices had cut investment by about 40 percent in the past two years, with sharp falls in the United States, Canada, Latin America and Russia.
  • Gold prices eased in Asia on Thursday with attention on the next Federal Reserve review of rates next week. On the Comex division of the New York Mercantile Exchange, gold for June delivery traded down 0.59% to $1,247.00 a troy ounce.Silver futures for May delivery dropped 0.88% to $16.985 a troy ounce, while copper futuresgained 0.18% to $2.240 a pound.


  • China added 3.18 million new urban jobs in the first quarter and kept unemployment levels broadly stable, Xinhua said on Friday, citing the social security ministry.The urban unemployment rate was 4.04 percent at the end of first quarter, flat from the end of 2015 and slightly lower than the year ago period, Xinhua said. Premier Li Keqiang said at China’s annual parliament in March that China will create 10 million new jobs and hold the urban unemployment rate below 4.5 percent in 2016.
  • Strong market performance failed to wow U.S.-based fund investors, who delivered stock funds another week of multi-billion dollar withdrawals, Lipper data showed on Thursday.Investors pulled $4.5 billion from U.S.-based stock funds during the week that ended April 20, Lipper said, despite the funds’ posting a 1 percent gain in market value over that period.
  • Japan looks increasingly likely to fire both fiscal and monetary barrels in the coming weeks to help recovery and arrest unwelcome gains in the yen, with direct currency intervention off the table after a cool reception from its U.S. ally.After the rising yen helped push exports down for a sixth month in March and deadly earthquakes hit southern Japan last week, the Bank of Japan (BOJ) is facing calls from government aides to promptly expand its money-printing stimulus.


  • BUY GOLD ABOVE 1262 TARGET 1267 1273 SL BELOW 1257
  • SELL GOLD BELOW 1255.5 TARGET 1250.5 1244.5 SL ABOVE 1260.5

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