Daily Archives: August 23, 2018

23Aug

Singapore highest inflation at 0.6% in July; core inflation most elevated in four years

SINGAPORE’S feature expansion was unfaltering in July with the purchaser value list (CPI) up 0.6 for every penny year-on-year, in accordance with financial specialists’ desires and unaltered from June, as indicated by a Department of Statistics investigate Thursday.

Center swelling, which strips out the cost of convenience and private street transport, rose 1.9 for each penny year-on-year because of a bigger increment in the cost of power and gas – up from June’s 1.7 for every penny rise and the speediest pace since August 2014, when it climbed 2 for every penny.

In spite of the ascent in center expansion, feature swelling was unaltered because of a decrease in private street transport costs.

The cost of power and gas rose 12.7 for every penny in July, more extreme than the 3.7 for each penny ascend in June, mirroring an upward amendment in power taxes after worldwide oil cost increments in the former quarter.

Sustenance expansion came in at 1.5 for every penny in July, unaltered from June. Administrations swelling was bring down at 1.5 for each penny, contrasted with 1.7 for every penny the prior month, because of littler increments in the cost of instruction, human services administrations, airfares and residential administrations charges.

Both convenience and private street transport saw costs fall. Settlement cost slid 3 for every penny in July, indistinguishable rate of decrease from in June. Private street transport costs fell 0.2 for each penny in July, turning around June’s 0.4 for each penny increment, because of a more extreme year-back fall in auto costs and a decrease in Certificate of Entitlement premiums.

Imported swelling is probably going to rise gently on the back of ascends in worldwide oil costs and sustenance product costs, said the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) on Thursday. Residential wellsprings of swelling are likewise anticipated that would ascend, close by speedier wage development and a get in household request. In any case, the degree of shopper cost increments will remain direct, as retail leases remain moderately curbed and firms’ evaluating force might be obliged by rivalry, said MAS and MTI.

Center swelling is relied upon to rise bit by bit finished the course of 2018, with the entire year figure averaging in the upper portion of the 1 to 2 for every penny estimate run. Feature swelling is correspondingly anticipated to come in inside the upper portion of its zero to 1 for every penny entire year gauge go. Convenience costs are relied upon to fall by a littler degree than in 2017, while private street transport swelling should decrease in 2018 as inflationary impacts from past measures scatter.

23Aug

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Gold prices were higher on Wednesday, as political uncertainty weighed on the U.S. dollar and investors looked ahead to meeting minutes from the Federal Reserve. Comex gold futures for December delivery rose 0.20% to a one-week high of $1,202.40 a troy ounce as of 10:25 AM ET (14:25 GMT). The minutes from the Fed’s latest policy meeting come out at 2:00 PM ET (18:00 GMT), which investors will look to for clues on future monetary policy.
  • After a knee-jerk reaction to the downside, West Texas Intermediate oil held onto solid gains in North American trade on Wednesday, as weekly data showed that oil supplies in the U.S. registered a much larger-than-expected draw, although gasoline stockpiles unexpectedly increased and distillate inventories rose more than expected. Crude oil for October delivery on the New York Mercantile Exchange rose $1.63, or 2.48%, to trade at $67.47 a barrel by 10:45 AM ET (15:45 GMT) compared to $67.27 ahead of the report.
  • China’s copper producers and traders are riding an unexpected surge of business that has pushed physical prices to their highest in nearly two years as fabricators rush to buy refined metal to avoid import tariffs on scrap that kick in on Thursday. The buying spree took off after Beijing announced two weeks ago it would hit $16 billion worth of U.S. imports, including scrap metal, with duties of 25 percent from Aug.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Agreement between Mexico and the United States on outstanding bilateral issues in the renegotiation of the North American Free Trade Agreement could be just a few hours away, Mexican officials said on Wednesday. “We hope that we’ll have a solution in the next couple of hours, or the next couple of days,” Mexican Economy Minister Ildefonso Guajardo told reporters before entering the offices of U.S. Trade Representative Robert Lighthizer for NAFTA talks.
  • Israel’s central bank on Wednesday criticized a government plan to sharply boost defense spending, saying it would come at the expense of civilian spending and probably increase the budget deficit and state’s debt burden. Prime Minister Benjamin Netanyahu told ministers last week that to meet expected threats in the coming decade, he intends to increase defense spending by 0.2 to 0.3 percent of gross domestic product under the “2030 Security Concept”.
  • The natural state of a capitalist economy is expansion. Recessions occur when “something breaks” rather than an expansion simply dying of old age. Unfortunately, central banks have a history of pumping the brakes for too long and too hard when attempting to contain growth and inflation and are often the cause of a recession.

COMEX GOLD SIGNAL

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