COMEX MARKET IN SINGAPORE| GOLD TRADING FORECAST TODAY
GOLD TRADING FORECAST TODAY
INTERNATIONAL COMEX NEWS
- Gold prices were lower on Friday after the greenback rallied from an earlier loss. Comex gold futures for December delivery decreased 0.51% to $1,202.00 a troy ounce as of 11:21 AM ET (15:21 GMT). Disappointing data on Thursday and Friday increased concern that the Federal Reserve could ease its stance on monetary policy. U.S. retail sales barely registered any gains in August, while consumer prices rose less than expected.
- Fewer ships from China and the United States could use the Panama Canal if trade tensions escalate between the two economic giants, but the dip could be offset by grain exports from north Brazil, the head of the organization that operates the waterway said. The canal, which cuts through Panama creating an essential shipping route between the Atlantic and Pacific oceans, is a major source of revenue for the central American country.
- California Governor Jerry Brown on Friday pledged to launch a satellite that will track and detect the sources of climate pollutants, his state’s latest effort to challenge the Trump administration’s skepticism about the science of climate change. Brown, who was nicknamed “Governor Moonbeam” during his first stint as governor in the 1970’s in part because of a proposal he made at the time to launch an emergency communications satellite for the state, said California was teaming up with earth imaging company Planet Labs to develop the technology.
- Greece plans to further loosen capital controls soon and is on track to lift all restrictions imposed three years ago, its finance minister said on Saturday. “We will have new easing (of capital controls) very soon,” Euclid Tsakalotos was quoted as saying in an interview with Naftemporiki newspaper, without specifying when.
- Trade and investment ministers from G20 countries meeting in Argentina said there was an “urgent need” to improve the World Trade Organization, a joint statement issued from the summit said on Friday. With U.S. President Donald Trump readying tariffs on another $200 billion in Chinese goods, the ministers said they were “stepping up the dialogue” on international trade disputes, according to the statement. It did not provide any details of possible WTO reforms or how dialogue on trade was being increased.
- U.S. President Donald Trump has directed aides to proceed with tariffs on about another $200 billion of Chinese goods, despite Treasury Secretary Steven Mnuchin’s attempts to restart trade talks with China, a source familiar with the matter said on Friday. The timing for activating the additional tariffs was unclear. The green light for the tariffs, first reported by Bloomberg, initially dragged U.S. stocks lower, fueled drops in the Chinese yuan in offshore trading and gains in the dollar index.
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