GOLD TRADING FORECAST TODAY
INTERNATIONAL COMEX NEWS
- Gold prices were slightly higher on Friday, but still remained near a six-week low as the greenback continued to rally from the Federal Reserve’s interest rate hike and strong economic data. Comex gold futures for December delivery inched up 0.20% to $1,189.80 a troy ounce as of 9:22 AM ET (13:22 GMT), on track for a 1.7% loss for September. Gold suffered after the Fed increased interest rates for the third time on Wednesday, which helped bolster the greenback.
- Mexican Economy Minister Ildefonso Guajardo said on Friday that the United States and Canada are making a serious attempt to reach a deal on the North American Free Trade Agreement, saying that within 48 hours it would become clear if the deal would remain trilateral. “In the next 48 hours we will know if we’re going to go with a trilateral text (that includes Canada) or if we’re going to be forced to publish a text of the bilateral (U.S.-Mexico) deal,” Guajardo told lawmakers.
- Oil prices were higher on Friday as supply concerns weighed and investors looked ahead to weekly rig count data. West Texas crude oil futures for November rose 0.22% to $72.28 a barrel as of 9:54 AM ET (13:54 GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., increased 0.69% to a four-year-high of $81.94. Late on Wednesday, the U.S. said it would not increase supply to offset the decrease in production.
For More information and daily updated SGX stock picks, Comex signals, Forex signals Click here – http://www.epicresearch.sg or Whatsapp us at +917312580605