Comex Trading Signals and Market News –31 August 2016


  • Oil futures rose on Tuesday supported by production suspensions in the U.S. Gulf due to an expected tropical storm
    and speculation that producers meeting in Algeria next month will act to prop up prices.Brent crude futures (LCOc1) were trading at $49.73 per barrel at 0924 GMT, up 47 cents from the previous close.U.S. West Texas Intermediate (WTI) crude (CLc1) was up 45 cents at $47.43 a barrel.
  •  Gold prices struggled near a five-week low during European hours on Tuesday, as investors looked ahead to upcoming
    U.S. data to gauge if the world’s largest economy is strong enough to withstand a rise in borrowing costs in the coming  months.The Conference Board is scheduled to release a report on U.S. consumer confidence for August at 10:00AM ET
  •  Natural Gas tanked more than 1.5 per cent during evening trade in the domestic market on Monday as investors and  speculators exit positions in the energy commodity tracking weakness globally where prices fell on profit taking after a  stellar rally on a smaller-than-expected US stockpile rise.


  • Bank of Japan board member Yukitoshi Funo said on Wednesday the central bank will make full use of its existing policy tools to ensure the country’s households and companies eradicate their deflationary mindset.”Japan needs to shift
    away from a deflationary mindset that became entrenched due to a prolonged period of deflation. We’re still halfway in achieving our price target,” Funo said in a speech to business leaders in Niigata, northern Japan.
  •  Some U.S. private equity firms are courting their biggest and savviest investors with privileged access to special fee saving deals without telling other investors, according to people involved in buyout firms’ fundraising.The U.S. Securities and Exchange Commission (SEC) has signalled its interest in overseeing such deals after fining several private equity firms in recent months for improper disclosure of fees.
  • The International Monetary Fund (IMF) is very close to releasing a tranche of aid that would unlock around $2 billion in  extra money, Finance Minister Oleksandr Danylyuk said on Tuesday.A $17.5 billion bailout program has helped Ukraine
    pull itself out of two years of economic recession caused by a separatist conflict in its industrial east. But a third tranche has been delayed since last October due to political upheaval and patchy reform progress.


  • BUY GOLD ABOVE 1321.5 TARGET 1326.5 1332.5 SL BELOW 1316.5.
  • SELL GOLD BELOW 1318 TARGET 1313 1307 SL ABOVE 1323.

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