Daily Archives: July 2, 2018
GOLD TRADING FORECAST TODAY
INTERNATIONAL COMEX NEWS
- Gold prices traded higher Friday on a weaker dollar, but remained on track to post their biggest monthly slump since September after suffering heavy losses this month. Gold futures for August delivery on the Comex division of the New York Mercantile Exchange rose by $4.90 or 0.39%, to $1,255.90 a troy ounce.
- Oil prices added to strong weekly gains on Friday as market participants placed bets that supply concerns would outweigh an attempt by producers to increase production. New York-traded West Texas Intermediate crude futures gained 77 cents, or about 1.1%, to $74.22 a barrel by 10:55AM ET (14:55GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., traded up $1.42, or 1.8%, to $79.03.
- Oil prices slid on Friday, with concerns about escalating trade tension between the U.S. and its major trade partners being cited as catalyst for the selling. Crude Oil WTI Futures for August delivery were trading at $73.17 a barrel at 1:20AM ET (05:20 GMT), down 0.40%. Brent Oil Futures for September delivery, traded in London, were also down 0.2% at $77.45 per barrel. Meanwhile, Shanghai Crude Oil WTI Futures for September delivery climbed 0.6% at 494.80 yuan per barrel on Friday.
- Mexican assets are poised to strengthen even if leftist front-runner Andres Manuel Lopez Obrador wins Sunday’s presidential election, analysts say, on expectations he will govern from the center and as the uncertainty stemming from the race fades. Lopez Obrador, a former Mexico City mayor, holds a roughly 20-point lead over his nearest rival ahead of the July 1 vote, according to the latest polls, putting him on track to become the first leftist Mexican president since the 1930s.
- The U.S. Commerce Department said on Friday it has begun a review of export controls that will be aligned with new legislation to strengthen national security reviews of foreign acquisitions of American firms, rather than China-specific curbs. In a statement to Reuters, the department said the review would establish changes to the controls “based on risks associated with particular technologies, destinations and end-uses among other relevant factors.”
- Ahead of Brazil’s wildly unpredictable elections, one of the wealthiest and most powerful men in the country is expanding yet further the frontiers of his media and religious empire. “Nothing to Lose,” the rags-to-riches biopic of billionaire evangelical bishop Edir Macedo, debuted on Netflix (NASDAQ:NFLX) Friday just months after its cinema release drew millions of Brazilians to the Universal Church’s latest marketing tool. It was the most successful film in the history of Brazilian cinema, according to TV Record, the television station controlled by Macedo
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