•  Gold prices edged higher on Tuesday, as the dollar dipped ahead of the two-day Federal Reserve meeting beginning later in the day, at which it was widely expected to deliver its third rate hike this year. December gold futures edged up 0.12% to $1,205.70 by 08:05 AM ET (12:05 GMT) on the Comex division of the New York Mercantile Exchange. Gold pushed higher as the dollar slid, with the U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, down 0.21% to 93.66.
  • Iran’s oil tankers are starting to disappear from global satellite tracking systems with just under six weeks to go until U.S. sanctions are due to hit the country’s exports, making it harder to keep track of the nation’s sales. No signals have been received by shore stations or satellites from 10 of the Persian Gulf nation’s crude oil supertankers for at least a week, according to tanker tracking data compiled by Bloomberg.
  • Oil prices were trading within reach of four year highs on Tuesday amid fears over a looming supply crunch after global producers decided against any increase in production despite calls from U.S. President Donald Trump for action to cool prices. Global benchmark Brent crude futures were up 0.72% at $81.08 a barrel by 08:44 AM ET (12:44 GMT). Prices hit a high of $81.48 on Monday, the most since November 2014.

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  • The United States imposed new sanctions on Venezuelan President Nicolas Maduro’s wife and key members of his government, including the vice president and defense minister, accusing them of plundering the country’s wealth and helping Maduro maintain his grip on power. Venezuelan Vice President Delcy Rodriguez and Defense Minister Vladimir Padrino were among the six people targeted, according to a statement on Tuesday from the U.S. Treasury Department. Three entities and an aircraft were also listed.
  • U.S. sanctions will weigh on Russia’s economic growth but are unlikely to imminently deprive Moscow of its investment -grade rating, the head of Fitch Ratings Sovereigns group said on Tuesday. Concerns about more U.S. sanctions against Russia have intensified in the past few months, even though risks of sanctions that could target new Russian government debt have been in place for around a year. A year ago, Fitch said Russia’s sovereign rating would be one notch higher than its current BBB- level were it not for the latest round of U.S. sanctions. One year on, that is still the case.
  • Talk of a return to $100 oil has the central bank chief of western Europe’s largest petroleum producer worried. A recovery in the oil price to $80 a barrel has been a boon for the Norwegian economy, helping to narrow a widening budget gap and fueling activity. It even this month triggered the first rate increase in seven years. But the nation’s central bank governor is now warning that too high an oil price could again release undue euphoria in the petroleum industry.

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