28Jun

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices were lower on Wednesday as the dollar strengthened and trade tensions eased. Comex gold futures for August delivery fell 0.20% to $1,257.40 a troy ounce as of 10:45 AM ET (14:45 GMT). Trade war worry eased after news that the White House administration is taking a less harsh approach to foreign investment restrictions.
  • U.S. crude stocks fell by nearly 10 million barrels last week as refineries hiked output, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 9.9 million barrels in the last week, compared with analysts’ expectations for a decrease of 2.6 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 2.7 million barrels, EIA said. Refinery crude runs rose by 115,000 barrels per day, EIA data showed.
  • At least some buyers of Iranian supplies in the world’s biggest oil market are considering acquiescing to U.S. President Donald Trump’s demands. As the American administration piles pressure on its allies to entirely halt purchases of Iranian supplies, Japan’s Fuji Oil Co. and Taiwan’s Formosa Petrochemical Corp. are considering ending imports from the OPEC member — though they are yet to make a final decision. South Korea has already put some imports on hold while Emirates National Oil Co.

ECONOMY NEWS

  • President Donald Trump announced the details of a plan to crack down on Chinese investment in US technology companies, but the final results were weaker than expected. After fears that Trump would introduce harsh measures to curb Chinese investment in US-based technology companies, the US president decided to use less stringent methods to curb the practice, including the expanded use of the Committee on Foreign Investment in the United States, or CFIUS.
  • A government think-tank report that appeared briefly online said that China should be wary of any financial panic stemming from uncertainties, such as bond defaults, tight liquidity and trade frictions with the United States. The comments were made in a report by the National Institution for Finance & Development (NIFD) that Bloomberg said was leaked briefly on the Internet on Monday and was removed. Reuters also saw the report, which was not available on the think-tank’s website on Wednesday.
  • The White House opted to take a less confrontational approach toward Chinese investments in the U.S. as it pushes Congress to strengthen an existing review process rather than invoke a little-used law reserved for economic emergencies. President Donald Trump wants Congress to pass legislation to bolster the Committee on Foreign Investment in the U.S., or CFIUS, so it can prevent companies from violating intellectual-property rights of American companies, two administration officials said Wednesday, speaking to reporters on the condition of anonymity.

 Gold Trading Forecast Today

 Gold Trading Forecast Today

 

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