14May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

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                                                                                      Comex Gold Signal

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INTERNATIONAL COMEX NEWS

  • Gold prices were roughly unchanged on Friday but looked set to post a first weekly gain in four weeks as dollar weakness continued following a recent bout of softer inflation data. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell by $0.80 or 0.06%, to $1,321.40 a troy ounce. Weaker inflation data seen earlier this week continued to drive direction, prompting traders to scale back their expectations for a faster pace of Federal Reserve rate hikes, pressuring both the 10-yield treasury and the dollar, underpinning gold prices.
  • Crude oil prices settled lower on Friday but posted a weekly gain as sentiment remained positive despite signs of an increase in U.S. production as rig counts jumped for the sixth week in a row. On the New York Mercantile Exchange crude futures for June delivery fell 66 cents to settle at $70.70 a barrel, while on London’s Intercontinental Exchange, Brent fell 0.54% to trade at $77.05 a barrel.
  • More destructive lava flows could soon hit Hawaii’s Big Island as the Kilauea volcano erupts, posing a greater threat than oozing magma that has so far destroyed dozens of homes and forced thousands to evacuate, scientists said on Friday. As a lava lake at Kilauea’s summit drains inside the volcano, magma is running underground. It could burst to the surface as large, fast-moving and intensely hot lava flows and produce higher levels of toxic gases, Hawaiian Volcano Observatory scientist-in-charge Tina Neal said.

ECONOMY NEWS

  • Ousted Malaysian Prime Minister Najib Razak said on Saturday that he and his family would respect an immigration department ban on his travel abroad and stay in the country. Najib said earlier on his Facebook (NASDAQ:FB) that he and his family were taking a holiday overseas from Saturday and would return next week. But, moments later, the immigration department said on its official Facebook page that Najib and his wife, Rosmah Mansor, were blacklisted from leaving Malaysia.
  • Malaysian authorities barred ousted Prime Minister Najib Razak and his wife from leaving the country on Saturday, amid reports that the government was reopening investigations into a multi-billion-dollar graft scandal at a state fund he founded. The order by immigration authorities came minutes after Najib said in a Facebook (NASDAQ:FB) post that he and his wife, Rosmah Mansor, were taking a week-long holiday overseas to rest after his thumping defeat in Wednesday’s general election.
  • The new U.S. ambassador to Germany said the row over Washington’s planned imposition of punitive tariffs on European goods would not trigger a trade war, adding that President Donald Trump only wanted “a level playing field”. In an interview with the Funke newspaper group, Richard Grenell insisted that the United States was awaiting proposals on how punitive tariffs could be averted.

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