COMEX GOLD SIGNAL
INTERNATIONAL COMEX NEWS
- Gold’s flirt with $1,300 may have been a little too brief, but the yellow metal should be reunited with its desired price target soon as the rally in equities stalls and global macro and political risks rise to the fore, analysts say. Gold futures for February delivery on the Comex division of the New York Mercantile Exchange settled up $2.10, or 0.2%, at $1,289.50 a troy ounce.
- The United States is not looking to grant more waivers for Iranian oil imports after the reimposition of U.S. sanctions, the U.S. special representative for Iran said on Saturday, underlining Washington’s push to choke off Tehran’s income. “We are not looking to grant any waivers or exemptions to the import of Iranian crude,” Brian Hook told a industry conference in the United Arab Emirates capital Abu Dhabi.
- Sales of British malting barley to European Union brewers and malt producers for delivery after Brexit have come to a virtual stop because of uncertainty about future trading relations. The standstill in so-called forward export sales for delivery in coming months means UK farmers are not able to take advantage of current attractive prices and are losing business to other EU suppliers, traders said.
- Uncertainty over Brexit and the economy have led demand for Britain’s financial services to shrink for the first time in five years, with no immediate sign of an improvement, a survey by business group CBI and PwC showed. And profitability in the sector which raises most tax in Britain was flat for the third quarter in a row in the three months to December 2018, the survey released on Monday said.
- A Republican senator close to President Donald Trump on Sunday backed a temporary re-opening of the federal government, in the 23rd day of the longest shutdown ever, to allow for talks on a spending agreement that could satisfy Trump’s border security demands. Democrats in Congress rejected Trump’s request that legislation to fund the government include $5.7 billion of taxpayer money for a wall on the U.S. border with Mexico. They have refused further negotiations until the government is reopened after being partially shut down since Dec. 22.
- Italy’s Treasury Minister said on Sunday he did not see a recession on the horizon but acknowledged there could be a period of stagnation. The Italian economy has been slowing for the last year and gross domestic product declined by 0.1 percent in the third quarter, the weakest result since 2014. On Friday industrial output for November came in much weaker than expected, increasing the risk of recession for the euro zone’s third largest economy.
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