TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT
Comex Gold Signal
INTERNATIONAL COMEX NEWS
- Gold prices bounced off a one-month low on Thursday, as the U.S. dollar retreated despite the release of upbeat jobless claims data and news the U.S. government averted a shutdown. Comex gold futures were up 0.17% at $1,316.70 a troy ounce by 08:55 a.m. ET (12:55 GMT), off a one-month trough of $1,309.20 hit earlier in the day. The U.S. Department of Labor reported on Thursday that the number of Americans filing for unemployment benefits unexpectedly fell last week, dropping to its lowest level in nearly 45 years.
- Environmental activists in California on Thursday plan to protest a Trump Administration proposal to vastly increase offshore oil drilling in the United States. The protest was planned to immediately precede a public meeting by the U.S. Interior Department’s Bureau of Ocean Energy Management in Sacramento, where officials will be available to talk with members of the public about the proposed drilling expansion and help them submit public comments.
- The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. fell by 119 billion cubic feet in the week ended February 2, while analysts had forecast a decline of 116 billion. That compared with a draw of 99 billion cubic feet (bcf) in the preceding week and represented a decline of 503 billion from a year earlier and was also 393 bcf below the five-year average. Total U.S.
- Minneapolis Federal Reserve Bank President Neel Kashkari told a town hall in Pierre, South Dakota that he does not think the Federal Reserve should raise interest rates unless wages and inflation start to take off, and that the U.S. economy is a “long way” from that. With wage growth slow and inflation below the Fed’s 2-percent target, “Why cool the economy down?” asked Kashkari on Thursday.
- The U.S. Senate and House of Representatives were expected to vote on a proposed budget deal on Thursday that would avert another government shutdown but that has angered fiscal conservatives who complain it would lead to a $1 trillion deficit. The plan to keep the government operating and to increase spending over the next two years faced resistance from the right wing of the Republican Party, which favors less spending on government. At the same time, many liberal Democrats wanted to withhold their support as leverage to win concessions on immigration policy.
- In the not-so-olden days of a few years ago, relatives might have sifted through stacks of documents to sort out your affairs after you died. These days, much of your presence in this world is floating around in the cloud: email, online drives, social media. Even your financial accounts are probably paperless at this point. To give your family access to your accounts after you die, you need to do some work in advance, leaving instructions in your will for everything from access to your Face book (NASDAQ:FB) page to how to redeem your Cryptocurrency.
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