Comex Market

15Feb

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

15feb

                                                                                  Comex Gold Signal

15feb2

15feb4

INTERNATIONAL COMEX NEWS

  • Gold prices turned lower on Wednesday, as the release of strong U.S. inflation data sent the greenback broadly higher. Comex gold futures were down 0.50% at $1,323.6 a troy ounce by 08:40 a.m. ET (12:40 GMT), off a one-week high of $1,339.4 hit earlier in the day. The U.S. Commerce Department said consumer prices rose more than expected in January by 0.5%. Year-over-year, consumer prices increased 2.1% last month a year earlier, beating expectations for a gain of 1.9%.
  • Natural gas futures were under pressure again on Wednesday, falling back towards their lowest level in almost two years amid speculation the end of the winter heating season will bring warmer temperatures throughout the U.S. and cut into demand for the fuel. Front-month U.S. natural gas futures slumped 3.2 cents, or around 1.2%, to $2.562 per million British thermal units (btu) by 9:05AM ET (1405GMT).
  • Penguins, Royal Dutch Shell’s (L:RDSa) latest oil and gas development in a remote corner of the British North Sea, epitomizes the new doctrine for deepwater projects — keep it cheap and simple. Shunned during the oil price crash of 2014-2016, deepwater projects are being embraced again, a challenge to the surge in onshore U.S. shale output. Penguins, the first new major deepwater project this year, will rejuvenate the 44-year-old field by drilling 8 new wells 165 meters (541 feet) underwater and connecting them to a new production vessel.

ECONOMY NEWS

  • U.S. House of Representatives Speaker Paul Ryan said on Wednesday his chamber “clearly” must address legislation next month to deal with young, undocumented immigrants who face deportation after President Donald Trump announced an end to a program providing them temporary protections. In remarks to reporters, Ryan said Trump “did a very good job of putting a sincere offer on the table” to broadly change U.S. immigration laws and “that should be a framework” for legislation. That proposal, however, is opposed by many Democrats.
  • A fairly strong inflation report released on Wednesday pushed up market expectations that the Federal Reserve could accelerate plans to remove accommodative monetary policy this year. The consumer price index (CPI) for January increased by 0.5% from the prior month, beating expectations for a gain of just 0.3%. Annual headline inflation held steady at growth of 2.1%, surprising the consensus that had expected a drop to 1.9%.
  • The German chamber of commerce said on Wednesday that U.S. import tariffs on steel could trigger a trade war with major trading partners, which analysts say could cut growth in Europe’s largest economy by up to 1 percentage point. U.S. President Donald Trump said on Tuesday he was considering a range of options to address steel and aluminum imports that he said were unfairly hurting U.S. producers, including tariffs and quotas. Trump’s comments were the strongest signal in months that he will take at least some action to restrict imports of the two metals, delivering on his election pledge to put America first and protect U.S. workers from increased foreign competition.

15feb3

 

13Feb

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

13feb

13feb1

13feb3

INTERNATIONAL COMEX NEWS

  • Crude oil prices continued to climb on Monday, as the market continued to recover from the previous week’s steep losses and investors turned their attention to the upcoming U.S. supply data. The U.S. West Texas Intermediate crude March contract was up 81 cents or about 1.37% at $60.01 a barrel by 04:00 a.m. ET (08:00 GMT), off Friday’s one-and-a-half month low of $59.20.
  • Natural gas futures started the week off in negative territory on Monday, falling to its lowest level in almost two years amid speculation the end of the winter heating season will bring warmer temperatures throughout the U.S. and cut into demand for the fuel. Front-month U.S. natural gas futures slumped 3.0 cents, or around 1.2%, to $2.554 per million British thermal units (btu) by 9:05AM ET (1405GMT).
  • Gold prices pared gains on Monday, but the precious metal remained supported as sentiment on the greenback became more vulnerable ahead of this week’s highly-anticipated U.S. inflation data. Comex gold futures were up 0.42% at $1,321.1 a troy ounce by 08:15 a.m. ET (12:15 GMT), after climbing to $1,328.8 earlier in the day. Market participants were eyeing this week’s U.S. inflation data for further clues on how fast the Federal Reserve will raise interest rates this year.

ECONOMY NEWS

  • President Donald Trump will unveil his second budget on Monday, seeking to make good on his promise to bolster military spending and requesting funds for infrastructure, construction of a wall along the border with Mexico and opioid treatment programs. The budget plan, which is viewed largely as suggestions by Congress, which has the constitutional authority to decide spending levels, will likely draw criticism from conservatives who worry that Republicans are embracing deficit spending.
  • Saudi Arabia has ordered an inventory of all delayed payments to the private sector, state news agency SPA said on Monday, citing a royal decree. The decree urged a quick resolution of outstanding payments. It will also establish a committee headed by the trade and investment minister in charge of gathering data on payment delays to private sector contractors. The committee will look into reasons for the delays and come up with solutions for speedy repayment
  • The European Union will have to cut spending in nearly all areas to deal with the gap that net contributor Britain leaves after its departure, Budget Commissioner Guenther Oettinger said on Monday. Britain’s exit in March next year will deprive Brussels of some 12 billion euros from an annual budget running around 140 billion euros. “Brexit will lead to a smaller budget. That is why we have to reduce spending moderately but notably at almost all our programs,” Oettinger told a news conference in Vienna.

13feb2

 

9Feb

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

Comex Gold Signal

Comex Gold Signal

9feb2

9feb4

INTERNATIONAL COMEX NEWS

  • Gold prices bounced off a one-month low on Thursday, as the U.S. dollar retreated despite the release of upbeat jobless claims data and news the U.S. government averted a shutdown. Comex gold futures were up 0.17% at $1,316.70 a troy ounce by 08:55 a.m. ET (12:55 GMT), off a one-month trough of $1,309.20 hit earlier in the day. The U.S. Department of Labor reported on Thursday that the number of Americans filing for unemployment benefits unexpectedly fell last week, dropping to its lowest level in nearly 45 years.
  • Environmental activists in California on Thursday plan to protest a Trump Administration proposal to vastly increase offshore oil drilling in the United States. The protest was planned to immediately precede a public meeting by the U.S. Interior Department’s Bureau of Ocean Energy Management in Sacramento, where officials will be available to talk with members of the public about the proposed drilling expansion and help them submit public comments.
  • The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. fell by 119 billion cubic feet in the week ended February 2, while analysts had forecast a decline of 116 billion. That compared with a draw of 99 billion cubic feet (bcf) in the preceding week and represented a decline of 503 billion from a year earlier and was also 393 bcf below the five-year average. Total U.S.

ECONOMY NEWS

  • Minneapolis Federal Reserve Bank President Neel Kashkari told a town hall in Pierre, South Dakota that he does not think the Federal Reserve should raise interest rates unless wages and inflation start to take off, and that the U.S. economy is a “long way” from that. With wage growth slow and inflation below the Fed’s 2-percent target, “Why cool the economy down?” asked Kashkari on Thursday.
  • The U.S. Senate and House of Representatives were expected to vote on a proposed budget deal on Thursday that would avert another government shutdown but that has angered fiscal conservatives who complain it would lead to a $1 trillion deficit. The plan to keep the government operating and to increase spending over the next two years faced resistance from the right wing of the Republican Party, which favors less spending on government. At the same time, many liberal Democrats wanted to withhold their support as leverage to win concessions on immigration policy.
  • In the not-so-olden days of a few years ago, relatives might have sifted through stacks of documents to sort out your affairs after you died. These days, much of your presence in this world is floating around in the cloud: email, online drives, social media. Even your financial accounts are probably paperless at this point. To give your family access to your accounts after you die, you need to do some work in advance, leaving instructions in your will for everything from access to your Face book (NASDAQ:FB) page to how to redeem your Cryptocurrency.

9feb3

7Dec

Today’s Comex news

Today’s Comex news and gold candlestick chart

  • Gold prices remained lower on Tuesday, as the recent approval of a major U.S. tax reform bill continued to lend broad support to the greenback. Comex gold futures was down $2.70 or about 0.21% at $1,275.10 a troy ounce by 08:40 a.m. ET (12:40 GMT). The greenback strengthened after the U.S. Senate passed a tax overhaul package over the weekend amid expectations that tax cuts for corporations will stimulate the U.S. economy.
  • Crude oil prices were mixed on Tuesday, as the decision last week by global oil producers to continuu limiting production lent support to the commodity, while sustained worries over U.S. production levels weighed. The U.S. West Texas Intermediate crude January contract was little changed at $57.44 a barrel by 09:50 a.m. ET (13:50 GMT). Elsewhere, Brent oil for February delivery on the ICE Futures Exchange in London was up 12 cents or about 0.19% at $62.56 a barrel.
  • Natural gas futures extended their decline into a second session on Tuesday, as updated weather forecasts showed a return to mild weather after a cold spell in the eastern U.S. U.S. natural gas futures sank 5.5 cents, or around 1.8%, to $2.930 per million British thermal units by 8:15AM ET (1315GMT), after plunging 7.6 cents, or 2.5%, a day earlier. Monday’s plunge came as weather models predicted mild weather across most parts of the continental United States starting from Dec. 15.

7dec

 

Economy News

  • Just hours after a Brexit deal crumbled, British Prime Minister Theresa May came under pressure on Tuesday from opposition parties and even some allies to soften the EU divorce by keeping Britain in the single market and customs union after Brexit. May’s ministers said they were confident they would soon secure an exit deal, though opponents scolded May for a chaotic day in Brussels which saw a choreographed attempt to showcase the progress of Brexit talks collapse at the last minute.
  •  A Mexican presidential hopeful and governor of a wealthy border state said he would cut taxes to compete with lower rates in the United States if President Donald Trump’s fiscal reform passes Congress, hinting at a broader potential response in Mexico. Jaime Rodriguez, the governor of Nuevo Leon who is seeking to become the first independent to take the presidency, said he would lower “many taxes” if successful.
  • European Union finance ministers adopted on Tuesday a blacklist of tax havens which includes 17 extra-EU jurisdictions seen as not cooperative on tax matters, French Finance Minister Bruno Le Maire said. American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea, Macau, Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad and Tobago, Tunisia and United Arab Emirates are the countries listed, officials said.
9Oct

Daily Comex news and gold signal

Today’s Gold signal

9 octber gold

Today’s News

1. Gold prices rose on Friday supported by a dip in the dollar following a nonfarm payrolls report that undershot forecasts but gains were capped as bullish wage growth lifted expectations for higher inflation. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose $3.64, or 0.29%, to $1,276.76. a troy ounce.

2. President Donald Trump will announce new U.S. responses to Iran’s missile tests, support for “terrorism” and cyber operations as part of his new Iran strategy, the White House said on Friday. “The president isn’t looking at one piece of this. He’s looking at all of the bad behavior of Iran,” Sarah Huckabee Sanders, the White House press secretary, told reporters.

3. Crude oil prices settled lower on Friday as investor attention shifted to a potential disruption to energy infrastructure in the Gulf of Mexico as Tropical Storm Nate bears down on the region amid renewed oversupply concerns. On the New York Mercantile Exchange crude futures for November delivery fell 2.95% to settle at $49.29 a barrel, while on London’s Intercontinental Exchange, Brent 2.23% to trade at $55.70 a barrel.

4. Tokyo Governor Yuriko Koike does not expect her new conservative party to pick a candidate for prime minister during the campaign for the Oct. 22 election, leaving the door open to eventually backing a lawmaker from Prime Minister Shinzo Abe’s party. Koike’s new Party of Hope has emerged as a serious challenge to Abe’s Liberal Democratic Party supporter base, but she has said she would not personally contest the election. Abe called the snap election last month in hopes his ruling bloc would keep its majority in parliament’s lower house, where it now has a two-thirds “super” majority.

5. Puerto Rico needs to accelerate the timetable for restoring its power grid or else residents will flee for the mainland rather than live without electricity for months, the chairman of the territory’s largest bank said on Friday. In an interview with Reuters on Friday, Banco Popular Chairman Richard Carrion said prolonged outages could shrink the U.S. territory’s economy and hurt its banking system. More than two weeks after Hurricane Maria hit the island, most of Puerto Rico is still without electricity. With about $40 billion in assets, Banco Popular is Puerto Rico’s biggest financial institution. Carrion said 85 of the bank’s 169 branches were open, and that only about 40 percent of its cash machines were operating.

9oct

17Aug

Oil prices edged high today but stays near 3-week lows as U.S. crude output rises

Oil prices edged higher on Thursday, however remained close to their most minimal level in three weeks as worry over rising production in the U.S. furthermore, somewhere else hosed estimation.

 

US-Oil-Production-1

The U.S. West Texas Intermediate crude September contract was at $46.87 a barrel by 3:35AM ET (0735GMT), up 9 pennies, or around 0.2%. It drooped to its most minimal since July 25 at $46.67 a day sooner.Somewhere else, Brent oil for October conveyance on the ICE Futures Exchange in London attached on 18 pennies, or around 0.4%, to $50.45 a barrel, not a long way from a three-week low of $50.02 addressed Tuesday.Oil finished over 1% bring down on Wednesday after U.S. government information uncovered a week by week move in household creation to the most abnormal amount in more than two years.Information from the U.S. Vitality Information Administration demonstrated that aggregate residential crude production edged up by 79,000 barrels a day to 9.5 million barrels a day a week ago, its most elevated amount since July 2015.

crude petroleum inventories fell by 8.9 million barrels, as per the EIA figures, the seventh week after week decrease in succession.

Oil prices have been under pressure as of late as worry over rising U.S. shale yield counterbalanced creation cuts by OPEC and non-OPEC individuals.OPEC and 10 makers outside the cartel, including Russia, concurred since the begin of the year to cut 1.8 million barrels for every day in supply until March 2018 keeping in mind the end goal to diminish a worldwide supply excess and rebalance the market.Be that as it may, up until this point, the arrangement has had little effect on worldwide stock levels because of rising supply from makers not partaking in the understanding, for example, Libya and Nigeria, and a determined increment in U.S. shale yield.Somewhere else on Nymex, gas fates for September ticked up a large portion of a penny, or around 0.3%, to $1.569 a gallon, while September warming oil rose 0.2 pennies, or 0.1%, to $1.577 a gallon.

Flammable gas prospects for September conveyance ticked up 0.3 pennies, or 0.1%, to $2.893 per million British thermal units, as merchants looked forward to week after week stockpiling information due later in the worldwide day.

3Aug

Worldwide demand for gold drops 14 percent in first half of 2017

Worldwide demand for gold fell 14 percent in the primary portion of this current year due for the most part to a sharp decrease in buys by trade exchanged assets, the World Gold Council said in a report Thursday.

100281353-gold_bars_piles_gettyP.530x298

National bank purchasing additionally fell somewhat in the primary half however buys of bars, coins and gems developed on account of solid demand in India and Turkey, the industry-supported WGC said in its most recent Gold Demand Trends report.Gold-sponsored ETFs saw record inflows a year ago to coordinate a 30 percent rise in gold costs amongst January and June. Yet, with costs rising just around 8 percent in a similar period this year, stores included just 56 tons in the second quarter, down 76 percent from a year ago, bringing first half inflows to 167.9 tons. European ETFs represented 76 percent of first half inflows taking their property to a record 978 tons.

“This year request is somewhat more adjusted,” said Alistair Hewitt, the WGC’s head of market knowledge. “While we saw tremendous inflows into ETFs a year ago, the physical markets of gems, bars and coins drooped to multi-year lows.”

Add up to worldwide demand for gold added up to 2,004 tons in January-June, down from 2,318.7 tons in a similar period a year ago. For the second quarter alone, request was 953 tons, the least quarterly aggregate in two years. Adornments buys rose 8 percent over April-June helped by a bounce back in purchasing in India in front of another business assess and in Turkey because of a more steady economy, however first half purchasing stayed beneath 1,000 tons for just the fourth time since 2000. Buys of gold bars and coins were up 13 percent in the second quarter and 11 percent in the primary half as Chinese, Indian and Turkish request expanded.

National banks purchased 94.5 tons of gold in the second quarter as Turkey joined Russia and Kazakhstan in extending its stores, however first half buys were down 3 percent at 176.7 tons.Hewitt said he anticipated that national banks would purchase 350-450 tons of gold over the entire year and for add up to yearly request to be around 4,200-4,300 tons. That would be somewhat beneath a year ago’s 4,337.5 tons, the most astounding yearly level since 2013.

21Apr

West Asia geopolitical hazard High oil prices are still stresses over inflation

Inflation rate took off 5.1% in March, again beneath the new record level of eight years, examiners trust that this level of swelling has topped, yet the modified yearly inflation rate figure to a most extreme of 4%, and cautioned In the West Asian geopolitical hazard, oil prices are as yet a noteworthy swelling stresses.

Complete investigation of various reports, business analysts by and large in the first between 3% to 3.5% of the yearly figure, expanded to 3.5% to 4%. Kenner Securities trusts that 5.1% swelling in March is the most astounding in the year, however China’s higher inflation rate because of fuel costs, because of the geopolitical danger of West Asia and some rising propensity.The bank predicts that in any event in the fleeting Brent oil costs will stroll between $ 50 and $ 55 a barrel (around 220 to 242 ringgit), which implies that our swelling rate will proceed at the present level.Close to the fasting month and after that climbBank of silver speculation assesses that the following two years the worldwide oil costs will balance out at 55 US dollars a barrel (around 242 ringgit).Consider the principal quarter of this current year, expansion rate of 4.3%, combined with the universal unique items, particularly oil and crude material costs rehashed, and also residential gas and sustenance costs, the bank raised the current year’s yearly swelling gauge to 3.5% to 4%.To mirror the current year’s higher base and figure universal oil costs and ringgit will balance out against the dollar, the bank to 2018 expansion conjecture, from the first 3%, down to between 2% to 2.5%.As per a report in the report, merchants caution that in spite of the fact that costs are normally practiced in the initial 10 days of Eid al-Fitr, the cost of meat and vegetables will be higher before that, amid the fasting month (May to June).

1215-oil-cover-regular

What’s more, the sustenance and drink swelling rate eased back to 4.1% in March, contrasted and 4.3% in February, on the grounds that the cost of basic needs in nourishment after the Chinese Lunar New Year has come back to typical, crisp meat step by step 3.7% (up 5% ), Eggs fell 0. 9% (0.6% in February), vegetables rose 8.8% (February rose 9.5%).Notwithstanding, CICB called attention to that the cost of outer nourishment kept on expanding, in March recorded an expansion of 4.4% year on year, contrasted with 4.1% in February.Week after week conformity instrument oil costs changeMama Bank to study silver, the legislature has recently executed the week by week change of fuel and diesel value component, with the goal that oil costs more unpredictable, additionally to foresee the pattern of expansion pattern troublesome.

“The effect of changes in oil costs on the cost of different merchandise and enterprises has likewise turned out to be more averse to be resolved.”

Regardless, the bank to keep up the present view that the present swelling is the “taken a toll driven” results, and will slowly debilitate, and there is no “request draw” and “wage-pull” inflationary weights exist, the center expansion rate is exceptionally steady At 2.5%, in spite of the fact that the unemployment rate went from 3.4% to 3.5% in December 2015.

April oil prices did not fall

CIMB trusts that activity swelling rose 23% yoy (up 17.9% yoy) in March, supported by fuel costs, up 42.1% in March and 31.3% in February. In any case, in March, Diesel costs rose 2.3%, RON95 and RON97 did not change.The bank called attention to that the pinnacle cost of oil and diesel has fallen in the vicinity of 3.8% and 5.6% since April, after the presentation of a week after week gas value modification instrument.

Despite the fact that the oil filling industry can lessen the retail cost of gas to enhance the upper hand, however more often than not to take a sit back and watch state of mind, is normal during the time movement swelling will start to back off from April.Fringe Risk Variables MultinationalsKeep up Interest RateExperts by and large trust that the National Bank to keep up supported and stable monetary development will keep up the yearly overnight authority loan cost (OPR) at 3%, for the most part because of the worldwide economy, exchange and money related markets, US exchange strategy position, US President Trump’s financial jolt Measures, the Fed rate climb, the European political dangers, including the British off Europe and the principle general decision and geopolitical pressures are brimming with numerous instabilities.Express Bank’s next meeting of the Monetary Policy Committee (MPC) will fall on May twelfth, which will be the third meeting of loan fees this year.Be that as it may, the Bank of Malaysia’s review contends that high expansion in addition to overnight authority loan costs at 3% will prompt a negative ongoing financing cost return in the year, so the Bank of China still has a 30% rate climb in the last quarter; The normal dollar ran from 4.44 to 4.48.

Bank of Thailand cast silver research estimate, the chances against the dollar this year, a normal of 4.41, one year from now to go to 4.35.

13Sep

Comex Trading Signals and Market News –13 September 2016

INTERNATIONAL COMMODITY NEWS

  • Oil fell for a second trading day in a row on Monday, after speculators cut their bullish bets by the most in three months last week and U.S. crude drillers added more rigs for a tenth week running. Brent crude oil futures (LCOc1) fell 53 cents on the day to £47.48 a barrel, by 0830 GMT (04:30 a.m. EDT), while U.S. West Texas Intermediate futures
    (CLc1) fell 66 cents to $45.22 a barrel.
  • Gold prices slipped lower on Friday, following remarks from a Federal Reserve official signaling the possibility for a near   term U.S. rate hike. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery
    were down 0.12% at $1,332.90. The December contract ended Thursday’s session 0.53% lower at $1,334.50 an ounce.
  • Copper futures were trading lower during the evening trade in the domestic market on Monday as investors and speculators exited positions in the industrial metal on fall in demand from consuming industries in the spot market and tracking weak trend in base metals overseas Copper futures were trading lower during the evening trade in the domestic market on Monday as investors and speculators exited positions in the industrial metal on fall in demand from consuming industries in the spot market and tracking weak trend in base metals overseas.

ECONOMY NEWS

  • The Federal Reserve should avoid removing support for the U.S. economy too quickly, Fed Governor Lael Brainard said
    on Monday in comments that solidified the view the central bank would leave interest rates unchanged next week.Brainard said she wanted to see a stronger trend in U.S. consumer spending and evidence of rising inflation before the Fed raises rates, and that the United States still looked vulnerable to economic weakness abroad.
  • California state revenue exceeded official projections in August by 5.2 percent, after four straight months of missed budget projections, thanks to strong personal income tax receipts, the state said on Monday.State Controller Betty Yee  said in a statement that “under our outdated tax structure, revenues fluctuate greatly from month to month.”California’s August revenue of $8.56 billion outpaced expectations by $425.2 million or 5.2 percent.
  • U.S. interest rate futures prices rose on Monday, diminishing the implied probability of a rate hike by the U.S. central  bank next week, after Federal Reserve Governor Lael Brainard warned against a rush to raise interest rates.The comments from Brainard had been highly anticipated through the day as she will be among the last Fed officials to speak before they enter their quiet period ahead of their next policy meeting on Sept 20-21.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1330 TARGET 1335 1341 SL BELOW 1325.
  • SELL GOLD BELOW 1325 TARGET 1320 1314 SL ABOVE 1330.

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

7Sep

Comex Trading Signals and Market News –7 September 2016

INTERNATIONAL COMMODITY NEWS

  • Gold prices held near a more than one-week high during European hours on Tuesday, as investors awaited fresh signals
    about the timing of a possible U.S. interest rate increase this year.The U.S. Institute of Supply Management is to release data on August service sector activity at 10:00AM ET (14:00GMT) on Tuesday.
  • Brent crude prices edged lower during Europe’s session on Tuesday, as optimism surrounding an agreement between Saudi Arabia and Russia to stabilize the oil market began to fade.On the ICE Futures Exchange in London, Brent oil For November delivery declined 35 cents, or 0.7%, to trade at $47.28 a barrel by 4:15AM ET (08:15GMT).
  • Natural gas futures fell during noon trade in the domestic market on Tuesday as investors and speculators exit positions in the energy commodity amid speculation that peak summer demand for the power plant fuel which is used to fire up air conditioners in the US may be coming to an end.

ECONOMY NEWS

  • A top Federal Reserve official on Tuesday repeated his call for gradual interest rate hikes, evidently unfazed by a slow down in U.S. job gains and sluggishness in the services sector that now has traders betting against any rate hike at all this year.It “makes sense to get back to a pace of gradual rate increases, preferably sooner rather than later,” San Francisco Fed President John Williams said in remarks prepared for delivery to the Hayek Group.
  • The yen gained on Wednesday after downbeat U.S. economic data made a U.S. interest rate increase this month unlikely, prompting investors to trim their dollar bets and triggering stop-loss orders in early Asian trade.The dollar was down 0.5 percent at 101.50 yen after dipping as low as 101.245 earlier, its lowest since Aug. 26 and well below last Friday’s high of 104.32 yen. It tumbled more than 1 percent against its Japanese counterpart on Tuesday.
  • Top British bankers will tell finance minister Philip Hammond on Wednesday to give them a clearer idea of what thecountry’s divorce from the European Union will mean for them when they hold their first meeting since the Brexit vote.Hammond is to meet with executives from major banks and insurers, including Barclays(L:BARC), HSBC (L:HSBA), Standard Life (L:SL) Santander UK, the British arm of Spain’sBanco Santander (MC:SAN), according to sources.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1350 TGT 1355 1360 SL 1345.
  • SELL GOLD BELOW 1347 TGT 1342 1337 SL 1352.

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

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