Daily Archives: December 27, 2018
COMEX GOLD SIGNAL
INTERNATIONAL COMEX NEWS
- Wall Street’s rebound isn’t scaring off gold bugs, who’ve got a host of worries on their side to bolster the precious metal’s standing as a safe haven. The S&P 500 and the Dow jumped more than 4%, percent each while the Nasdaqsurged more than 5% in the first day of trading following the Christmas holiday. To help soothe investors’ nerves, a White House official said the head of the Federal Reserve faced no risk of losing his job and that President Donald Trump was happy with his Treasury Secretary.
- Last July 6, Major General Manuel Quevedo joined his wife, a Catholic priest and a gathering of oil workers in prayer in a conference room at the headquarters of Petroleos de Venezuela SA, or PDVSA. The career military officer, who for the past year has been boss at the troubled state-owned oil company, was at no ordinary mass. The gathering, rather, was a ceremony at which he and other senior oil ministry officials asked God to boost oil output.
- U.S. oil prices on Thursday extended their sharp climb from the session before amid rising stock markets, but worries over a glut in crude supply and concerns over a faltering global economy kept a lid on gains. U.S. West Texas Intermediate (WTI) crude futures, were up 26 cents, or 0.56 percent, at $46.48 per barrel at 0032 GMT. They jumped 8.7 percent to $46.22 per barrel in the previous session.
- The European Union will accept France running a budget deficit higher than the EU’s 3 percent ceiling next year, as long as it is a one-off event, EU Budget Commissioner Guether Oettinger said on Thursday. France said last week that its headline deficit could grow to 3.2 percent of output next year from 2.8 percent initially planned. President Emmanuel Macron is under strong pressure from violent protests at home to ease the impact of fiscal reforms.
- A U.S. trade team will travel to Beijing the week of Jan. 7 to hold talks with Chinese officials, Bloomberg reported on Wednesday, citing two people familiar with the matter. The delegation will be led by Deputy U.S. Trade Representative Jeffrey Gerrish and will include David Malpass, Treasury under secretary for international affairs, Bloomberg said. U.S. and Chinese officials have spoken by phone in recent weeks, but next month’s meeting would be the first in-person talks since President Donald Trump met with his Chinese counterpart, Xi Jinping, in Buenos Aires on Dec. 1.
- JPMorgan Chase & Co (N:JPM) will pay over $135 million to settle charges it mishandled so-called “pre-released” American Depositary Receipts (ADRS), the Securities and Exchange Commission announced on Wednesday. The regulator said the investment bank improperly provided ADRs, which are U.S. securities that represent foreign shares of foreign companies, to brokers even though the brokers and their clients lacked the corresponding foreign shares.
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