Comex Market

19Jan

Comex Trading Signals and Market News – 19 January 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices struggled for direction in quiet trade on Monday, as market players continued to monitor movements in the U.S. dollar and global stock markets.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.1% to 99.08.Meanwhile, global equity markets were lower as oil prices fell below the $28-level to hit a fresh 13-year low, adding to fears over the outlook for global growth.
  • Copper prices bounced back from a new seven-year low in Europe trade on Monday, but gains remained limited amid ongoing concerns over the health of the global economy. The red metal is sensitive to the economic growth outlook because of its widespread uses across industries.
  • Brent oil futures fell below the $28-level to hit a fresh 13-year low on Monday, as international sanctions against Iran’s nuclear program were lifted over the weekend, opening the door to a wave of new oil and adding to concerns that a global glut will linger.Analysts say the country could quickly ramp up exports by around 500,000 barrels.

ECONOMY NEWS :

  • The Bank of Japan expressed disappointment at how slowly companies are raising pay despite a tightening job market, suggesting its readiness to expand stimulus if the recent market turmoil further delays wage hikes. But BOJ Governor Haruhiko Kuroda maintained his upbeat view on the economy and offered no clear signs that additional stimulus may be forthcoming this month.
  • Politicians and business leaders gathering in the Swiss Alps this week face an increasingly divided world, with the poor falling further behind the super-rich and political fissures in the United States, Europe and the Middle East running deeper than at any time in decades.Just 62 people, 53 of them men, own as much wealth as the poorest half of the entire world population and the richest 1 percent own more than the other 99 percent put together, anti-poverty charity Oxfam said on Monday.
  • India’s exports declined 14.75 percent in December from a year ago to $22.29 billion, data released by the Ministry of Commerce and Industry showed Monday. Exports decreased for a 13th consecutive month in December. At the same time, imports dropped 3.88 percent to $33.96 billion. Consequently, the trade deficit widened unexpectedly to $11.66 billion from $9.8 billion in November. During April to December, exports plunged 18.06 percent and imports by 15.87 percent, taking the trade shortfall to $99.2 billion.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1095 TARGET 1100 1106 SL 1089
  • SELL GOLD BELOW 1085 TARGET 1080 1074 SL 1091

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

18Jan

Comex Trading Signals and Market News – 18 January 2016

INTERNATIONAL COMMODITY NEWS :

  • Natural Gas futures plunged by more than 5 per cent in the domestic market on Thursday as investors and speculators shunned the energy commodity tracking a bearish trend in the overseas market as a smaller-than-expected storage withdrawal signaled weak demand for the heating fuel in the world’s biggest economy even amidst the peak winter season fueling concerns over high storage levels.
  • Copper prices fell by 0.54 per cent on Friday after the number of people who filed for unemployment assistance in the US rose unexpectedly last week signaling weak labor market in US world’s largest economy which reduced the demand for the metal. The US Department of Labor said the number of individuals filing for initial jobless benefits in the week ending January 8 increased by 7000 to a seasonally adjusted 284000 from the previous week’s total of   277000.
  • Gold surged on Friday enjoying its strongest one-day move in six weeks, as a batch of soft U.S. economic data and further signals of weakness in China sent investors scurrying toward the safe-haven asset.On the Comex division of the New York Mercantile Exchange, gold for February delivery traded in a broad range between $1,076.00 and $1,097.20 an ounce before settling at $1,090.00, up 15.80 or 1.47% on the session.

ECONOMY NEWS :

  • The Federal Reserve was worried that leaks of its confidential discussions in 2010 exposed it to charges of insider trading and raised questions over its credibility, according to transcripts of meetings released on Friday.The transcripts showed that members of the Federal Open Market Committee discussed the implications of a 2010 Reuters story, which reported that an advisory firm headed by former Fed Governor Larry Meyer sent a note on Aug. 19, 2010 to clients with a breakdown of a policy-setting meeting held nine days earlier.
  • Bank of England Governor Mark Carney is unlikely to make many predictions for the coming year when he delivers  his first keynote speech of 2016 on Tuesday.Since taking over the central bank nearly three years ago, Carney has been wrong-footed on a number of occasions by the British economy’s twists and turns after the financial crisis.This may prompt him to tread carefully when he speaks at the University of London.
  • India’s market regulator raised gross open position limit amount for bank stock brokers in USD/INR derivative contracts to $1 billion from $100 million, an official release said on Friday.The limit stands at 15 percent of the total open interest or $1 billion, or whichever is higher, stated the Securities and Exchange Board of India (SEBI). “To maintain orderly conditions in the domestic foreign exchange market, and based on RBI’s recommendation, it has been decided to enhance the gross open position limits for bank stock brokers,” SEBI added.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1092 TARGET 1097 1103 SL 1086
  • SELL GOLD BELOW 1084 TARGET 1079 1073 SL 1090

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

15Jan

Comex Trading Signals and Market News – 15 January 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices pushed higher for the second straight session on Thursday, as market players sought refuge amid steep declines in global stock markets.Global stock markets plunged as Brent oil prices fell to fresh 12-year lows, adding to fears over the outlook for global growth.Gold for February delivery on the Comex division of the New York Mercantile Exchange tacked on $5.10, or 0.47%, to trade at $1,092.20 a troy ounce by 09:55GMT, or 4:55AM ET.
  • Brent oil futures fell further below the $30-level to hit a fresh 12-year low on Thursday, amid ongoing concerns over a global supply glut.Oversupply issue will be exacerbated further once Iran returns to the global oil market after western-imposed sanctions are lifted. Analysts say the country could quickly ramp up production by around 500,000 barrels, adding to the glut of oil that has sent prices tumbling.
  • Natural gas futures ended lower in the domestic market on Wednesday as market participants turned cautious ahead of the weekly US storage numbers due on Thursday which may signal the strength of the demand for the fuel in the world’s biggest fuel consuming nation.The EIA may show a dip of 170 billion cubic feet in US gas supplies in the week ended January 8 2016 after a 113 billion cubic feet withdrawal in the prior week and a five-year average decline of 178 billion cubic feet.

ECONOMY NEWS :

  • India Wholesale price inflation (WPI) measured a rate of -0.73% in December–retreating from -1.99% recorded in the previous month but still remaining in the negative zone for 14 months in a row, showed the official data released on Thursday. Food inflation in the wholesale price index (WPI) edged up for a fourth straight month to touch 8.17% in December, compared with 5.20% in November.
  • The Reserve Bank of India likely sold dollars through state-owned banks to stem the rupee’s fall after it plunged to a month low on Thursday, three FX traders told Reuters.At 0357 GMT, the Indian rupee INR=D2 was trading at 67.0950/1050 to the dollar, a level last seen on Dec. 15.The rupee was down tracking dollar strength against most Asian currencies after a rout in oil and commodity prices hit risk sentiment and heightened fears about the global economy. EMRG/FRX
  • The Bank of England looks likely to signal another delay in raising interest rates on Thursday thanks to a renewed oil price slump,sputtering wage growth and the approach of an unsettling vote on Britain’s European Unionmembership. Amid signs of a weakening in Britain’s economic recovery and doubts about how hard China’s slowdown will hit the world economy, some economists are pushing their forecasts for a first BoE rate hike to as far back as November.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1095 TARGET 1100 1106 SL 1089
  • SELL GOLD BELOW 1089 TARGET 1084 1078 SL 1095

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

14Jan

Comex Trading Signals and Market News – 14 January 2016

INTERNATIONAL COMMODITY NEWS :

  • Copper prices bounced back from six-and-a-half year lows on Wednesday, as the latest trade figures out of China eased some concerns over the health of the world’s second-biggest economy, while also pointing to strong demand for the red metal.
  • West Texas Intermediate oil futures recovered from 12 year lows on Wednesday, amid speculation weekly supply data due later in the session will show U.S. crude inventories fell last week. The U.S. Energy Information Administration will release its weekly report on oil supplies at 15:30GMT, or 10:30AM ET, Wednesday. After markets closed Tuesday, the American Petroleum Institute, an industry group, surprised market participants and said that U.S. oil inventories declined by 3.9 million barrelsin the week ended January 8, compared to expectations for an increase of 2.0 million barrels.
  • Natural Gas futures plummeted by almost 4 per cent in the domestic market on Tuesday as investors and speculators exited positions in the energy commodity as forecasts for a return of milder weather across parts of the US threatened to curb the demand for the heating fuel in the world’s biggest economy.

ECONOMY NEWS :

  • China’s total trade volume slipped 7% year-on-year to 24.59 trillion yuan in 2015, Customs said Wednesday. The figure marks the fourth year in a row that external commerce had missed its goal. China’s imports slumped 13.2%on the previous year to 10.45 trillion yuan, while exports were down 1.8% to 14.14 trillion yuan. Imports have been hit by low prices for commodities such as oil and iron ore and the slowdown in China’s infrastructure boom, while exports have had to struggle with weakness in world economy.
  • Companies from airlines to retailers in more than 100 countries will have to swell their balance sheets with trillions of dollars under a new accounting rule for leases that should shine a clearer light on debt.Leases allow a company to use an asset in return for regular payments, and are mostly held off balance sheet, making it hard for investors to get a full picture of liabilities without delving into the depths of annual reports.
  • Further interest rate hikes by the U.S Federal Reserve should be based on “clear evidence” of higher wages and prices, International Monetary Fund chief Christine Lagarde said on Tuesday.Speaking at a central banking conference in Paris at the Bank of France, Ms. Lagarde said the Fed’s first interest rate increase in a decade, which was made in December, had gone smoothly.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1085 TARGET 1090 1096 SL 1079
  • SELL GOLD BELOW 1078 TARGET 1073 1067 SL 1084

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

13Jan

Comex Trading Signals and Market News – 13 January 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices inched lower on Tuesday, as steep declines in other metal commodities, like copper, platinum and palladium, weighed. Gold for February delivery on the Comex division of the New York Mercantile Exchange shed $1.30, or 0.12%, to trade at $1,094.90 a troy ounce as of 09:45 GMT, or 4:45AM ET. A day earlier, prices dipped $1.70, or 0.15%.
  • Crude oil fell 3 percent on Tuesday, heading toward $30 per barrel and levels not seen in over a decade, with analysts scrambling to cut their price forecasts and traders betting on further declines.Prices are down around 20 percent since the start of the year, dragged lower by soaring oversupply, China’s weakening economy and stock market turmoil, as well as the strong dollar, which makes it more expensive for countries using other currencies to buy oil.
  • Copper prices fell to a new six-year low on Tuesday, as investors continued to cut holdings of the red metal amid persistent worries about future demand from top consumer China.Copper for March delivery on the Comex division of the New York Mercantile Exchange shed 1.7 cents, or 0.86%, to trade at $1.957 a pound by 08:00 GMT, or 3:00AM ET.

ECONOMY NEWS :

  • China’s cabinet is taking a key first step towards tighter control of its financial regulatory apparatus, a source told Reuters, after repeated regulatory missteps have dented confidence as the world’s second-largest economy struggles. A source close to the leadership said the State Council has set up a working group to upgrade the cabinet’s financial department to bureau level to serve as an interim manager of the process until a “super regulator” structure can be put into place.
  • Austria will take tougher action at its borders to turn away “economic migrants” in order to reduce overall immigration, Chancellor Werner Faymann said, striking a harsher tone on asylum seekers.Hundreds of thousands of people fleeing conflict and poverty in the Middle East, Afghanistan and elsewhere have entered Austria, many en route to Germany, in the past year.
  • Germany probably achieved a double-digit budget surplus last year, beating its forecast for a surplus of 6.1 billion euros (4.57 billion pound), two sources in Germany’s ruling coalition told Reuters on Tuesday. One source said the surplus would be in the double digits while a second source said it would probably be between 11 and 12 billion euros. The surplus is due to be made available for spending on refugees.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1095 TARGET 1100 1106 SL 1089
  • SELL GOLD BELOW 1090 TARGET 1085 1079 SL 1096

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

12Jan

Comex Trading Signals and Market News – 12 January 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices held near the prior session’s nine-week high on Monday, as market players sought refuge amid heightened volatility in global stock markets. Chinese stocks markets plunged again on Monday, with the Shanghai Composite Index and the CSI300 Index both closing down more than 5% despite efforts by Beijing to stabilize the market.
  • Oil prices held near the lowest levels in more than a decade on Monday, as further turmoil in the Chinese stock market added to concerns over the Asian nation’s economy. The Shanghai Composite Index closed down 5.3%, the smaller Shenzhen Composite Index sank 6.6% and the CSI300 Index lost 5%, despite efforts by Beijing to stabilize the market.
  • Copper prices tumbled to the lowest level since April 2009 on Monday, as steep declines on Chinese stock markets dampened appetite for the red metal.Copper for March delivery on the Comex division of the New York Mercantile Exchange plunged 4.6 cents, or 2.28%, to trade at $1.970 a pound as of 08:00 GMT, or 3:00AM ET. It earlier fell to $1.966, a level not seen in more than six years.Meanwhile, three-month copper on the London Metal Exchange slumped 2.26% to $4391.25 a metric ton, the lowest since May 2009.

ECONOMY NEWS :

  • China will face great difficulty in achieving economic growth above 6.5 percent over the 2016-2020 period due to slowing global demand and rising labour costs at home, the China Securities Journal quotes a top state adviser as saying. Li Wei, president of the State Council’s Development Research Centre, made the comments at a conference over the weekend, the newspaper reported on Monday.
  • German industrial production dropped in November, indicating that the largest economy in Eurozone is still witnessing a patchy recovery. Industrial production, adjusted for inflation and seasonal swings, fell 0.3% in November from the previous month, the Federal Statistical Office said Friday. Another data showed that Germany’s adjusted trade surplus dropped to 19.7 billion euros in November from 20.6 billion in October. Exports contracted 0.4% on the month, though 1.6% jump in imports reflected steady domestic demand.
  • Consumer confidence in India slipped for the fourth consecutive month in December tothe lowest on record, as consumers reported a further deterioration in their personal finances and revised down their assessment of the business environment. Respondents sawlittle hope of a turn around either, with expectations for the future falling sharply. The MNI India Consumer Sentiment Indicator fell 4.6% to 108.5 in December from113.7 in November. The decline was broad-based with all five components of the Consumer Indicator down on the month.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1104 TARGET 1109 1115 SL 1098
  • SELL GOLD BELOW 1097 TARGET 1092 1086 SL 1103

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

11Jan

Comex Trading Signals and Market News – 11 January 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices slid lower in European morning hours on Friday, pulling away from a two-month peak as the U.S. dollar regained some ground after the People’s Bank of China set a higher yuan guidance rate for the first time in nine days. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were down 0.71% at $1,099.90.The February contract ended Thursday’s session 1.46% higher at $1,049.60 an ounce.
  • Copper futures advanced during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as China’s decision to refrain from further weakening of the Yuan eased concerns over the health of the world’s second biggest economy lifting the demand outlook for industrial metals. China is the world’s biggest metals consumer making up for more than 40 per cent of global copper consumption.
  • Natural Gas futures soared in the domestic and overseas market on Thursday as investors and speculators booked fresh positions in the energy commodity as a bigger than expected dip in US storage levels last week signaled a pickup in heating demand for the fuel as cold weather resulted in higher consumption of gas-fired electricity at offices and homes in the world’s biggest economy.

ECONOMY NEWS :

  • China’s major stock indexes rose strongly on Friday after Beijing ditched a circuit breaker mechanism that halted trading twice this week and had been blamed for exacerbating the market sell-offs it was designed to limit. The People’s Bank of China also raised its guidance rate for the yuan for the first time in nine trading days, having allowed the currency’s biggest fall in five months on Thursday, sending shivers through regional currencies and global stock markets as investors feared it would trigger competitive devaluations.
  • Consumer confidence in India slipped for the fourth consecutive month in December tothe lowest on record, as consumers reported a further deterioration in their personalfinances and revised down their assessment of the business  environment. Respondents sawlittle hope of a turnaround either, with expectations for the future falling sharply. The MNI India Consumer Sentiment Indicator fell 4.6% to 108.5 in December from113.7 in November. The decline was broad-based with all five components of the ConsumerIndicator down on the month.
  • Japan’s leading index, which measures the future economic activity, fell to 103.9 in November from 104.2 in the previous month, preliminary figures from the Cabinet Office showed Friday. In September, the score was 102.4. The coincident index that indicates the current economic activity also dropped to 111.6 in November, in line with expectations, from 113.3 in October. The latest reading was the lowest since March 2015, when it marked 111.1. The lagging index that reflects the past economic activity, came in at 115.0 in November, down from 115.4 in the preceding month.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1105 TARGET 1110 1116 SL 1098
  • SELL GOLD BELOW 1096 TARGET 1091 1085 SL 1102

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

8Jan

Comex Trading Signals and Market News – 08 January 2016

INTERNATIONAL COMMODITY NEWS :

  • Copper prices tumbled to six-week lows on Thursday, as steep declines on Chinese stock markets and a further depreciation of the yuan dampened appetite for the red metal.Copper for March delivery on the Comex division of the New York Mercantile Exchange plunged 6.0 cents, or 2.86%, to trade at $2.028 a pound as of 07:50 GMT, or 2:50AM ET. It earlier fell to $2.023, the lowest since November 24. On Wednesday, copper shed 0.7 cents, or 0.36%, following the release of disappointing Chinese service sector data.
  • Oil prices extended this week’s rout to hit levels not seen in more than a decade on Thursday, as mounting concerns over China’s economic outlook added to the view that a global supply glut may stick around for longer than anticipated. China is the world’s second largest oil consumer after the U.S. and has been the engine of strengthening demand.Market sentiment was hit after the People’s Bank of China set its official yuan midpoint rate lower compared with Wednesday’s fix.
  • Natural gas futures advanced 2 per cent in the domestic market on Thursday as investors and speculators booked fresh positions in the energy commodity as forecasts for colder than normal weather in the US East Coast in the coming week bolstered the demand outlook for gas-fired heating at offices and homes in the world’s biggest economy.

ECONOMY NEWS :

  • The Indian government said on Thursday it agreed to accept demands set by the opposition Congress party to back a landmark tax reform, raising hopes a political standoff that blocked the measure throughout last year might be resolved. Parliamentary Affairs Minister Venkaiah Naidu also said the government was willing to bring forward the next parliament session to pass the proposed goods and services tax bill (GST) if Congress supports the measure.
  • German manufacturing orders jumped in November as domestic demand supported. The economics ministry said Thursday that total orders for Germany’s important manufacturing sector, adjusted for seasonal swings and calendar effects, increased 1.5% on the month. Domestic orders soared by 2.6% in November from the preceding month. Foreign orders rose 0.6%, held back by weak Eurozone demand.
  • The World Bank forecasts India to grow by a robust 7.8 percent this year and 7.9 percent in the next two years on the back of stronger domestic policy reforms, even as it cut its global economic growth forecast for 2016, citing weak growth among emerging markets. Developing economies are forecast to expand by 4.8 percent in 2016, less
    than expected earlier but up from a post-crisis low of 4.3 percent in the year just ended. Growth is projected to
    slow further in China, while Russia and Brazil are expected to remain in recession in 2016.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1100 TARGET 1105 1111 SL 1094
  • SELL GOLD BELOW 1095 TARGET 1090 1084 SL 1101

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

7Jan

Comex Trading Signals and Market News – 07 January 2016

INTERNATIONAL COMMODITY NEWS :

  • Brent oil prices fell to the lowest level since July 2004 on Wednesday, as worries over the health of the global economy added to the concerns that a global supply glut may stick around for longer than anticipated. On the ICE Futures Exchange in London, Brent oil for February delivery dipped 70 cents, or 1.94%, to trade at $35.72 a barrel as of 08:48 GMT, or 3:48AM ET, after sinking to $35.54, a level not seen in more than a decade.
  • Copper prices edged lower on Wednesday, after data showed that activity in China’s services sector grew at the slowest pace in 17 months in December, the latest indication that the world’s second-largest economy may be losing steam. The Caixin services purchasing managers’ index fell to 50.2 last month from November’s reading of 51.2, disappointing expectations for an uptick to 52.3.
  • Natural Gas futures were trading little changed in the domestic market during noon trade on Wednesday as traders weighed bearish weather forecasts which signaled that the current bout of frigid temperatures in the US East Coast are likely to give way to unusually warm weather by the end of the week while next week’s cold blast coming to the Midwest was looking slightly less severe than expected dimming the demand for gas-fired heating at offices and homes in the world’s biggest economy.

ECONOMY NEWS :

  • Japan services sector continued to expand in December, with a PMI score of 51.5, the latest survey from Nikkei revealed on Wednesday. That’s down marginally from 51.6 in November, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction. The composite index came in with a score of 52.2 in December, down from 52.3 in the previous month.
  • The services sector in China witnessed a mild expansion in December, the latest survey from Caixin showed on Wednesday with a 17-month low PMI score of 50.2. That’s down from 51.2 in November, although it remains barely above the boom-or-bust line of 50 that separates expansion from contraction. The composite index came in with a score of 49.4 in December, down from 50.5 in the previous month while turning to contraction.
  • Standard Chartered (L:STAN) is among three lenders that China’s central bank last week suspended from conducting some foreign exchange business until the end of March, two sources with direct knowledge told Reuters on Wednesday. Reuters reported on Dec. 30 that China’s central bank had suspended Deutsche Bank (DE:DBKGn) and two other lenders from conducting some of their foreign exchange business, China’s latest bid to stem capital fleeing the country in the face of a weakening yuan.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1085 TARGET 1090 1096 SL 1079
  • SELL GOLD BELOW 1078 TARGET 1073 1067 SL 1084

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

6Jan

Comex Trading Signals and Market News – 06 January 2016

INTERNATIONAL COMMODITY NEWS :

  • Copper prices recovered from the prior session’s selloff on Tuesday, as sentiment improved after China’s central bank attempted to buoy markets with a $20 billion cash injection. The People’s Bank of China flooded its banking system with 130 billion yuan, or $19.95 billion, marking the largest cash injection since September.The move comes one day after a 7% plunge in Chinese stock markets, which rocked global financial markets and revived concerns about the country’s economic slowdown.
  • Crude oil prices reversed earlier gains on Tuesday, as gloomy Chinese data dragged on sentiment in a market already weighed down by persistently high production levels.Oil futures initially rose, tracking Asian stocks, but were later pulled down as data showed China’s national rail freight volumes logging their biggest ever annual decline in 2015, raising questions about how sharply the world’s No.2 economy was slowing and what this meant for oil demand.
  • Gold prices held near the prior session’s four-week high on Tuesday, as investors sought refuge amid instability in the Middle East and fresh concerns over global growth.Gold for February delivery on the Comex division of the New York Mercantile Exchange tacked on $3.70, or 0.34%, to trade at $1,078.80 a troy ounce as of 9:45 GMT, or 5:45AM ET. A day earlier, prices rose to a session peak of $1,083.00, the most since December 9, before ending at $1075.20, up $15.00, or 1.41%.

ECONOMY NEWS :

  • India claims to be the world’s fastest-growing major economy, yet the government might break its budget deficit targets to stimulate demand, potentially undermining the central bank’s fight against inflation. Statistically, Asia’s third- largest economy is outpacing China with above 7 percent annual growth. But Prime Minister Narendra Modi’s economic advisers are complaining of a sharp slowdown that threatens their budget calculations.
  • British Prime Minister David Cameron will allow government ministers to campaign to leave the European Union in an upcoming referendum, the BBC reported on Tuesday without citing sources.Cameron is seeking to renegotiate the terms of Britain’s EU membership and says he wants to stay in a reformed EU. However, he says he rules nothing out if he can’t get key changes to Britain’s relationship with the bloc.
  • Eurozone consumer prices advanced 0.2 percent year-on-year in December, the same rate as seen in November, flash data from Eurostat showed Tuesday. Headline inflation has been below the European Central Bank’s target of ‘below, but close to 2 percent’ since early 2013. Excluding energy, food, alcohol and tobacco, core inflation held steady at 0.9 percent in December. Energy prices slid 5.9 percent, but slower than the 7.3 percent decrease seen in November.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1080 TARGET 1085 1091 SL 1074
  • SELL GOLD BELOW 1075 TARGET 1070 1064 SL 1081

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

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