Comex Trading Signals and Market News – 27 July 2016


  • Silver futures were trading tad higher during noon trade in the domestic market on Tuesday with all eyes focused on the US Federal Reserve which today begins a two-day monetary policy meet.The world’s biggest central bank is likely to keep interest rates unchanged but could offer some cues over the timing of its next interest rate hike.
  • Gold prices extended losses from the prior session in European trade on Tuesday, falling towards a one-month low, as investors readjusted positions ahead of the Federal Reserve’s two-day monetary policy meeting due to begin later in the day. The Fed is not expected to take action on interest rates at the conclusion of its meeting on Wednesday, but market players will scrutinize its policy statement for fresh hints on the timing of interest rate hikes over the next several months.
  • Oil on Tuesday hit its lowest since May, falling towards $44 a barrel, pressured by concerns that a long-awaited rebalancing of the market would be delayed due to excess supply.Brent crude is still up more than 60 percent from a 12-year low near $27 in January, but the rally has petered out on signs that the supply glut will persist and as economic jitters raised concern about the strength of oil demand.


  • Australian consumer prices rose at the slowest annual pace since 1999 last quarter while core inflation remained at a record low, setting the stage for a cut in interest rates as early as next week.The headline CPI index rose just 1.0 percent in the year to June, while key measures of underlying inflation held at 1.5 percent, all well below the Reserve Bank of Australia’s (RBA) target band of 2 to 3 percent.
  • Energisa SA priced an offering of new stock near the upper end of a suggested range on Tuesday, signaling an upbeat industry outlook and strong investor demand bolstered plans by Brazil’s No. 6 power distributor to cut debt. According to data obtained from securities industry watchdog CVM, Energisa sold 61.5 million units, and placed 22.52 million units in supplementary and additional allotments at 18.50 reais. Energisa sought to price the units, comprised of one common share and four preferred shares, between 16 reais and 20 reais.
  • The yen fell in early Asian trade on Wednesday on expectations of significant monetary stimulus by the Bank of Japan later in the week, a day after it had posted its biggest gains in a month on disappointment at the scale of the government’s fiscal stimulus plan.The yen fell about 0.4 percent in early trade to 105.06 per dollar, retreating from Tuesday’s high of 103.995 per dollar. On Tuesday it rose 1.1 percent, its biggest daily gain since June 24.


  • BUY GOLD ABOVE 1325 TARGET 1330 1336 SL BELOW 1320
  • SELL GOLD BELOW 1317 TARGET 1312 1306 SL ABOVE 1322

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