Daily Archives: September 7, 2018
COMEX GOLD SIGNAL
INTERNATIONAL COMEX NEWS
- Gold prices edged up on Thursday morning in Asia after hitting an 11-day low on Tuesday, as the U.S. dollar traded lower. Gold futures for December delivery rose 0.31% to $1,205 at 11:30PM ET (03:30 GMT) on the Comex division of the New York Mercantile Exchange. The U.S. dollar index, which tracks the greenback to a basket of other currencies, fell by 0.11% to 94.97, as British pound and the Euro rose on breakthrough from Brexit talks.
- Oil prices dipped on Thursday as emerging market turbulence weighed on sentiment, while a deadline neared for a potential new round of U.S. tariffs on another $200 billion of Chinese goods. U.S. sanctions against Iran, however, prevented prices from falling further as they are expected to tighten the market after being implemented from November, traders said.
- U.S. oil producer ConocoPhillips (N:COP) is still awaiting payment from Venezuela on a $2 billion arbitration settlement reached last month with the country’s state-run PDVSA, Chief Executive Ryan Lance said on Wednesday. Conoco last month suspended legal attachments efforts that had cut Venezuela’s oil exports from several Caribbean facilities following a deal that allowed the country 90 days to make an initial $500 million payment.
- Top U.S. and Canadian trade negotiators were set for a second day of talks on Thursday over a revised North American Free Trade Agreement after their subordinates worked late into the night to flesh out opportunities for a compromise deal. Canadian Foreign Minister Chrystia Freeland sounded sanguine on Wednesday as she emerged from negotiations with top U.S. trade negotiator Robert Lighthizer, although she cautioned that no trade deal was done until the last issue was nailed down.
- A Brazilian Supreme Court justice on Thursday rejected the latest appeal by jailed former president, Luiz Inacio Lula da Silva, that he be allowed to run in next month’s election. Justice Edson Fachin, in a decision posted on the court’s website, ruled against the request from Lula’s legal team, which argued that Brazil was required to follow the recommendation of the United Nations Human Rights Committee and allow Lula to run for office from jail.
- China will study how to lower the social security tax rate to ensure the tax burden for all companies – including venture capital firms – does not increase, the state cabinet was cited by state radio as saying on Thursday. China’s tax bureau will take over social security collection from the Social Security Bureau in 2019, a move seen enforcing greater compliance by companies as the government frets over an aging population and rising pension deficit.
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