25May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

Comex Gold Signal

                                                                                      Comex Gold Signal

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Gold prices extended gains in midmorning trade on Thursday as U.S. President Donald Trump dashed hopes for a summit with North Korea leader Kim Jong Un At 10:40AM ET (14:40GMT), gold futures for June delivery on the Comex division of the New York Mercantile Exchange was up $16.30, or around 0.6%, to $1,305.90 a troy ounce. That was close to an intraday high of $1,306.30, its highest level since May 14. Both leaders were set to meet in Singapore on June 12 to discuss the possibility of denuclearization.
  • Oil prices continued to fall on Thursday amid concern global supply and future output from the Organization of Petroleum Exporting Countries. Brent crude futures, the benchmark for oil prices outside the U.S., slumped 1.05% to $79.96 a barrel as of 10:27 AM ET (14:27 GMT). Meanwhile Crude Oil WTI Futures decreased 1.20% to $70.98 a barrel. Prices were pushed lower this week after an unexpected increase in weekly U.S. crude supplies.
  • The U.S. Energy Information Administration said in its weekly report thatnatural gas storage in the U.S. increased by 91 billion cubic feet in the week ended May 18, compared to forecasts for a build of 92 billion. Thursday’s data compared with a gain of 106 billion cubic feet (bcf) in the preceding week and represented a decline of 804 billion from a year earlier and was also 499 bcf below the five-year average.

ECONOMY NEWS

  • Italy is responsible for the economic health of the whole euro zone because it is part of it, Finnish Finance Minister Petteri Orpo said on Thursday, adding he was a bit worried by the economic plans of the new Italian government coalition. “We look very carefully at what is happening in Italy and of course I am a little bit worried by that,” Orpo told reporters on entering talks of euro zone finance ministers in Brussels.
  • Goldman Sachs (NYSE:GS) said on Thursday that any systemic spillovers from Italian political risks into peripheral Europe could push the euro down against the dollar by “around five big figures.” The prospect of a coalition government between the anti-establishment 5-Star Movement and far-right League, bent on big spending plans that would put Italy on a collision course with the European Union, have rattled markets in the past week.
  • National home values have increased 8.7 percent since last April to a median value of $215,600, according to Zillow. The pace of appreciation is the fastest since June 2006, when home values were rising nine percent annually. San Jose home values appreciated 26 percent year-over-year. Las Vegas, Seattle, Dallas-Fort Worth, San Francisco, Tampa, Atlanta, Charlotte and Orlando all saw double digit a growth.

Comex Gold Signal

Comex Gold signal

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