Comex Gold Signal
INTERNATIONAL COMEX NEWS
- Gold prices extended gains on Tuesday, as the U.S. dollar pushed lower amid growing uncertainty over potential U.S. tariffs on steel and aluminum imports. Comex gold futures were up 0.81% at $1,333.6 a troy ounce by 08:30 a.m. ET (12:30 GMT). Investors remained cautious as U.S. President Donald Trump faced growing pressure to pull back from proposed steel and aluminium tariffs.
- Crude oil prices rebounded on Tuesday, supported by news global oil demand should outpace production and as traders awaited this week’s U.S. supply data. The U.S. West Texas Intermediate crude April contract was up 20 cents or about 0.30% at $62.76 a barrel by 10:00 a.m. ET , the highest since February 28. Elsewhere, Brent oil for May delivery on the ICE Futures Exchange in London gained 25 cents or about 0.40% to $65.80 a barrel, also the highest since February 28.
- Natural gas futures climbed to their highest level in around four weeks on Tuesday, boosted by forecasts for a bump in late-winter heating demand. Front-month U.S. natural gas futures tacked on 2.4 cents, or around 0.9%, to $2.728 per million British thermal units (btu) by 8:20AM ET (1320GMT). It rose to its best level since Feb. 7 at $2.735 earlier in the session. The commodity notched a small gain of around 0.3% on Monday, as updated weather forecasting models showed colder weather lingering over the eastern U.S. through mid-March.
- The Russian central bank will spend 56.9 billion rubles ($1 billion) on boosting financial strength of B&N Bank, a troubled lender it had to rescue last year, the central bank said on Tuesday. Banks’ financial health is on the radar as the central bank proceeds with its clean-up program. The central bank took over three major private lenders, Otkritie, B&N Bank and Promsvyazbank (PSB), in the space of a few months in 2017.
- Hundreds of taxi drivers marched in central Athens on Tuesday to protest at what they called an “invasion” by Uber, and attacked passing cars they thought were being used by the ride-hailing service. The drivers say the services are taking their business. They have also accused the Greek government of holding up legislation to regulate booking apps such as Uber and the locally-developed app Beat. “We will not co-exist with them,” said Yorgos Souitsmes, one of the protesting drivers. “It’s a multinational that wants to steal the bread of Greeks
- Mexico’s Economy Minister Ildefonso Guajardo on Tuesday ruled out talk of a bilateral trade treaty with the United States, saying the North American Free Trade Agreement, which is currently being renegotiated, must remain a threecountry accord. Guajardo also said in a local TV interview that if the U.S. government were to push ahead with metals tariffs that included Mexico, the country would be forced to respond with politically targeted tit-for-tat responses.