2Nov

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 rebounded on Thursday from the almost three week lows reached in the previous session as the dollar weakened broadly. December gold futures were up 1.5% to $1,230.60 by 08:58 AM ET (12:58 GMT) on the Comex division of the New York Mercantile Exchange. Gold prices settled at $1,212.30 on Wednesday, which was the lowest close since October 11.
  • Oil prices fell to their lowest level in more than two months on Thursday, as indications of swelling U.S. crude stockpiles weighed. U.S. oil inventories rose by a more-than-expected 3.2 million barrels last week, the U.S. Energy Information Administration said on Wednesday. It was the sixth straight weekly climb that has seen domestic supplies swell by a total of 31.9 million barrels over that period.
  •  A vessel carrying soybeans from the United States to China changed its destination to South Korea on Thursday, shipping data showed, amid a trade war that has decimated U.S. shipments of the commodity to the world’s top oilseed importer. The Star Laura, carrying 36,000 tonnes of American soybeans loaded in Seattle in late September, was due to arrive in the eastern Chinese port of Qingdao on Wednesday, according to shipping data on Refinitiv Eikon.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Chinese President Xi Jinping on Thursday promised support for struggling private firms, pledging more tax cuts and financial aid, underscoring government resolve to support the private sector as growth slows. Xi said the government would reduce corporate burdens including value-added tax cuts and tax exemptions for small businesses and tech startups, according to the official Xinhua news agency, while promising an equal business environment for all firms.
  • Efforts to ease post-crisis banking rules probably will continue even if Democrats triumph in next week’s midterm elections and pressure regulators to reverse course. While Democrats face long odds to flip the Senate, polls show they’re poised to gain at least the 23 seats needed to retake control of the House. That would put them in charge of committees that oversee financial matters, empowering them to summon agency heads and grill them about deregulation efforts championed by President Donald Trump.
  • The European Union on Thursday called for China to take concrete steps to further open its market to foreign firms and provide a level playing field, saying it would not sign up to any political statement at next week’s major import fair in Shanghai. The EU’s statement comes on the eve of a trade expo that Beijing hopes to use to signal its willingness to narrow trade deficits and assuage outside concern about its trade practices.

2nov5

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