Comex Market

6Sep

Comex Trading Signals and Market News –6 September 2016

INTERNATIONAL COMMODITY NEWS

  • Gold gained in Asia on Tuesday as investors continued to mull the chances of a Fed rate hike this month in the wake of weaker than expected U.S. jobs data at the end of last week.Gold for December delivery on the Comex division of the New York Mercantile Exchange rose 0.31% to $1,330.85 a troy ounce.
  • Crude gained further in Asia on Tuesday as investors reassessed a new twist in proposals to freeze output by major producers and sent futures sharply higher.Crude oil for October delivery on the New York Mercantile Exchange jumped  2.12% to $45.38 a barrel. On the ICE Futures Exchange in London, Brent oil for November delivery gained 0.29% to $47.77 a barrel.
  •  U.S. natural gas futures fell to the lowest level in nearly two weeks on Monday, as traders reacted to the reality that higher summer demand for the commodity is coming to an end. Demand for natural gas tends to rise in the summer  months as warmer temperatures increase the need for gas-fired electricity to power air conditioning.

ECONOMY NEWS

  • Venezuelan President Nicolas Maduro has enlisted a Spanish academic he has hailed as the “Jesus Christ of economics” to help the South American country manage chronic product shortages.Alfredo Serrano is the only foreigner to form part of the Superior Organ of the Grand Mission of Sovereign Supply, a group of civilians and military officers tapped by socialist President Nicolas Maduro in response to the country’s economic crisis.
  •  More than a third of Arab banks have seen their business links with foreign banks shrink over the past four years because of pressures such as economic sanctions and concern about money laundering, according to a study published  on Monday. “The inability of banks in some Arab countries to enter into correspondent relationships with foreign banks could have a deleterious impact on trade and remittances and ultimately on real economic activity,” the Arab Monetary Fund said in the study.
  • The world’s biggest hedge fund firm thinks that China is preparing for a bust.Ray Dalio’s Bridgewater says that China  has experienced an “unsustainable buildup of credit,” which is “typical of debt boom and busts,” according to a private  note to investors viewed by Business Insider.”This rapid expansion in credit looks like it has created significant vulner abilities in the Chinese financial system at a time when the economy is still near the front end of a material loss cycle,” the note added.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1330 TARGET 1335 1341 SL 1325.
  • SELL GOLD BELOW 1321 TARGET 1316 1310 SL 1326.

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

5Sep

Comex Trading Signals and Market News –5 September 2016

INTERNATIONAL COMMODITY NEWS

  • Gold prices slipped lower on Friday, as markets turned their attention to the upcoming report on U.S. nonfarm payrolls for further hints on whether or not the Federal Reserve will raise interest rates later this year. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.24% at $1,314.05, just off the four-day high of 1,319.45 hit overnight. The December contract ended Thursday’s session 0.43% higher at $1,317.10 an ounce. Futures were likely to find support at $1,301.50, Thursday’s low and a more than two-month low and resistance at $1,340.50, the high from August 26.Gold prices strengthed briefly  thanks to a weaker U.S. dollar after the Institute for Supply Management said on Thursday that its manufacturing activity index dropped to 49.4 last month from July’s reading of 52.6. It was the worst reading since January and missed expectations for a slight drop to 52.0.  The report came shortly after data showed that U.S. initial jobless claims increased by 2,000 to 263,000 last week, compared to expectations for a 4,000 rise to 265,000.

 

  • U.S. oil futures bounced off three-week lows on Friday, helped by fresh hopes of a production freeze, although gains were limited by  investors’ cautious stance before a U.S. employment report due later in the day. U.S. Crude futures for October delivery were up 1.07% at $43.64 a barrel, off Thursday’s three-week lows of 48.00. On the ICE Futures Exchange in London, the November Brent contract rallied  1.21% to $46.00 a barrel, easing off the previous session’s three-week through of 45.32. Oil prices strengthened after Russian President  Vladimir Putin said in an interview with Bloomberg that an agreement between oil exporters to freeze output would be the right decision   to support the market. OPEC members are set to discuss a potential production cap at a meeting in Algeria later in September. Crude also benefited from a brief decline in the U.S. dollar after the Institute for Supply Management said on Thursday that its manufacturing  activity index dropped to 49.4 last month from July’s reading of 52.6. It was the worst reading since January and missed expectations for a slight drop to 52.0.

 

  • Natural gas futures were trading on a positive note during noon trade in the domestic market on Friday as investors and speculators shrugged off a bigger-than-expected rise in US gas supplies last week. The EIA said that US natural gas storage rose 51 billion cubic feet to 3.401 trillion cubic feet in the week ended August 26 against an expected rise of 41 billion cubic feet addition of 11 billion cubic feet in the prior week 96 billion cubic feet a year earlier and a five-year average of 67 billion cubic feet.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1317 TARGET 1322 1328 SL BELOW 1312.
  • SELL GOLD BELOW 1308 TARGET 1303 1297 SL ABOVE 1313.

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

 

2Sep

Comex Trading Signals and Market News –2 September 2016

INTERNATIONAL COMMODITY NEWS

  • Oil prices steadied on Thursday after Saudi Arabia said OPEC was moving toward a common position on oil production
    that some investors think could support prices.Brent crude futures for November were down 5 cents at $46.84 a barrel
    by 1055 GMT after settling $1.84 lower at Wednesday’s close.U.S. crude futures were unchanged at $44.70 a barrel,
    after falling $1.65 in the previous session.
  • Gold prices steadied above the prior session’s two-month low during European hours on Thursday, as investors looked
    ahead to data on U.S. nonfarm payrolls on Friday to give the market direction.The consensus forecast is that the data
    will show jobs growth of 180,000 in August, following an increase of 255,000 in the preceding month.
  •  Nickel futures were trading higher during the evening trade in the domestic market on Thursday as speculators widened their bets on uptick in demand from alloy-makers at the domestic spot market and a firming trend overseas.Further fresh positions created by traders led by pick-up in demand from alloy-makers at the spot market and a better trend in metals at the LME after China’s official factory gauge unexpectedly rose last month to the highest level in almost 2 years signaling an improved demand outlook in the world’s top metal user supported the uptrend in nickel prices at futures trade.

ECONOMY NEWS

  • The party looked to be waning for some popular investments in the latest week, with investors trimming exposure to U.S.-based funds invested in developing-market bonds, utilities stocks and gold, Lipper data showed on Thursday.Investors’ repositioning in the week through Aug. 31 came as remarks by some monetary policymakers seemed to suggest a U.S. interest rate hike might soon be in the cards.
  •  It’s been two years since India emerged as the world’s fastest-growing major economy, but the rapid expansion has done little to improve the lot of Ashok Kumar.Parked up and sitting on the kerb, the 25-year-old truck driver is going nowhere fast. He is the sole breadwinner for the 13 people in his extended family and his monthly salary is stuck at $150.
  •  Even if a report due Friday shows U.S. companies kept up their rapid pace of hiring in August, there is still enough resis-
    tance among policymakers at the Federal Reserve to delay an interest-rate hike at the bank’s September meeting.Reuters polling forecasts that 180,000 jobs were added last month, well above the 100,000 Fed Chair Janet Yellen says is needed to absorb newcomers to the labor market. At that rate, 2016 would be on pace for more than 2 million new jobs.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1310 TARGET 1315 1321 SL BELOW 1305.
  • SELL GOLD BELOW 1302 TARGET 1297 1291 SL ABOVE 1307.

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

 

1Sep

Comex Trading Signals and Market News –1 September 2016

INTERNATIONAL COMMODITY NEWS

  • Gold prices fell back towards a two-month low during North American hours on Wednesday, after upbeat U.S. employ-
    ment data added to speculation that the Federal Reserve is gearing up to hike interest rates as soon as next month.Payroll processing firm ADP said that non-farm private employment rose by 177,000 in August, surpassing expectations for an increase of 175,000.
  • Crude oil prices slid on Wednesday, pressured by a strong U.S. dollar and high stocks of physical oil, though prices remained on track for a monthly gain of more than 10 percent.Brent crude oil futures (LCOc1) were trading at $48 per  barrel at 0829 GMT (0429 ET), down 37 cents from the previous close, while U.S. West Texas Intermediate (WTI) crude futures (CLc1) were down 21 cents at $46.14.Oil prices had rallied by more than 20 percent from the beginning of August on hopes that producers were reviving talks on a possible output freeze, setting prices on course for their largest monthly gains since April.
  •  Natural Gas tanked more than 1.5 per cent during evening trade in the domestic market on Monday as investors and speculators exit positions in the energy commodity tracking weakness globally where prices fell on profit taking
    after a stellar rally on a smaller-than-expected US stockpile rise.

ECONOMY NEWS

  • Brazil’s newly confirmed President Michel Temer submitted to Congress a 2017 national budget that limits spending as promised but steers clear of tax hikes that analysts say are needed to quickly rebalance the country’s depleted fiscal
    accounts.In the budget, his government raised its estimate for tax revenues by 26 billion reais ($8.06 billion) and its estimate for revenues from concessions and privatizations by 18.4 billion reais, in order to close a financing gap.
  •  The United States has accused the European Union of grabbing revenue intended for U.S. coffers when it ordered Apple Inc (O:AAPL) to pay up to $14.5 billion in back taxes, a decision that could cause friction at an international summit
    in China next week.The EU executive this week retroactively scrapped a tax deal Apple had with Ireland, arguing the
    technology giant was effectively paying a tax rate of a fraction of 1 percent on its profits.
  • The International Monetary Fund said on Wednesday that it would “be in a position” to lift its censure on Argentina later this year after recent changes the country has made to the way it reports official economic data.Since taking office in December, President Mauricio Macri has overhauled Indec, the national statistics agency that was widely accused of publishing inaccurate data under former leader Cristina Fernandez.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1317 TARGET 1322 1328 SL BELOW 1312.
  • SELL GOLD BELOW 1308 TARGET 1303 1297 SL ABOVE 1313.

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

31Aug

Comex Trading Signals and Market News –31 August 2016

INTERNATIONAL COMMODITY NEWS

  • Oil futures rose on Tuesday supported by production suspensions in the U.S. Gulf due to an expected tropical storm
    and speculation that producers meeting in Algeria next month will act to prop up prices.Brent crude futures (LCOc1) were trading at $49.73 per barrel at 0924 GMT, up 47 cents from the previous close.U.S. West Texas Intermediate (WTI) crude (CLc1) was up 45 cents at $47.43 a barrel.
  •  Gold prices struggled near a five-week low during European hours on Tuesday, as investors looked ahead to upcoming
    U.S. data to gauge if the world’s largest economy is strong enough to withstand a rise in borrowing costs in the coming  months.The Conference Board is scheduled to release a report on U.S. consumer confidence for August at 10:00AM ET
    (14:00GMT).
  •  Natural Gas tanked more than 1.5 per cent during evening trade in the domestic market on Monday as investors and  speculators exit positions in the energy commodity tracking weakness globally where prices fell on profit taking after a  stellar rally on a smaller-than-expected US stockpile rise.

ECONOMY NEWS

  • Bank of Japan board member Yukitoshi Funo said on Wednesday the central bank will make full use of its existing policy tools to ensure the country’s households and companies eradicate their deflationary mindset.”Japan needs to shift
    away from a deflationary mindset that became entrenched due to a prolonged period of deflation. We’re still halfway in achieving our price target,” Funo said in a speech to business leaders in Niigata, northern Japan.
  •  Some U.S. private equity firms are courting their biggest and savviest investors with privileged access to special fee saving deals without telling other investors, according to people involved in buyout firms’ fundraising.The U.S. Securities and Exchange Commission (SEC) has signalled its interest in overseeing such deals after fining several private equity firms in recent months for improper disclosure of fees.
  • The International Monetary Fund (IMF) is very close to releasing a tranche of aid that would unlock around $2 billion in  extra money, Finance Minister Oleksandr Danylyuk said on Tuesday.A $17.5 billion bailout program has helped Ukraine
    pull itself out of two years of economic recession caused by a separatist conflict in its industrial east. But a third tranche has been delayed since last October due to political upheaval and patchy reform progress.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1321.5 TARGET 1326.5 1332.5 SL BELOW 1316.5.
  • SELL GOLD BELOW 1318 TARGET 1313 1307 SL ABOVE 1323.

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

30Aug

Comex Trading Signals and Market News –30 August 2016

INTERNATIONAL COMMODITY NEWS

  • Oil fell towards $49 a barrel on Monday, pressured by high output from Middle East OPEC members and as a stronger
    U.S. dollar weighed on commodities.Iraq, which has exported more crude from its southern ports in August, will continue ramping up output, its oil minister said on Saturday. Top exporter Saudi Arabia has kept output at around record levels this month.
  •  Gold prices were under pressure during European hours on Monday, slumping to a five-week low amid indications the  Federal Reserve is gearing up to hike interest rates as early as next month.Gold for December delivery on the Come  division of the New York Mercantile Exchange touched an intraday low of $1,317.20 a troy ounce, a level not seen since July 26. It was last at $1,320.95 by 3:02AM ET (07:02GMT), down $4.95, or 0.37%
  • Silver futures fell during evening trade in the domestic market on Monday as investors and speculators exit positions in the precious metal tracking weakness overseas as a stronger dollar curbed the lure for the bullion as an alternative asset.Stronger greenback makes gold more expensive for those holding other currencies thus dimming demand.

ECONOMY NEWS

  • South Korea’s extra budget may not be passed by parliament on Tuesday as ruling and opposition lawmakers are at odds over spending details, a senior finance ministry official told Reuters.Ruling and opposition lawmakers had agreed last week to pass the supplementary budget on Aug. 30, but the main opposition Minjoo Party has been arguing for more spending for young children’s education in the plan, which the ruling party is against.
  • In the last financial year before Britain voted to leave the European Union, the country gained more foreign investment projects than ever before, the government said on Tuesday.Some 2,213 investments were made in the year ending in March, up 11 percent from the previous year, the government said. That resulted in the creation or “safeguarding” of 116,000 jobs, it said.
  •  The European Union’s executive said on Monday it had a unanimous mandate from the bloc’s 28 members to finalize negotiations on a free trade deal with the United States, a day after Germany’s economy minister said the talks had “defacto failed”.Sigmar Gabriel of Germany, the EU’s biggest economy, said on Sunday that negotiations over the Transatlantic Trade and Investment Partnership (TTIP) had failed because Europe rejected some U.S. demands.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1321 TARGET 1326 1332 SL BELOW 1316.
  • SELL GOLD BELOW 1316.2 TARGET 1311.2 1305.2 SL ABOVE 1321.2.

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

29Aug

Comex Trading Signals and Market News – 29 August 2016

INTERNATIONAL COMMODITY NEWS

  • Oil prices rose on Friday following reports that missiles from Yemen had struck oil facilities in Saudi Arabia and as the dollar weakened following remarks by Federal Reserve Chair Janet Yellen.Crude oil for October delivery on the New York Mercantile Exchange rose 50 cents, or 1.06%, to trade at $47.83 a barrel by 1113 ET.
  • Gold prices ticked higher on Friday as the dollar dipped following a slight downward revision to U.S. second quarter economic growth, but investors remained wary ahead of a key speech by Federal Reserve Chair Janet Yellen later in the day.U.S. gold futures for December delivery were up 0.79% at $1,335.3 an ounce by 0858 ET from around $1,331.45 earlier.
  • Copper futures were trading higher during the evening trade in the domestic market on Friday as participants widened their bets in the industrial metal amid a pickup in physical demand for copper from the domestic spot market.Further  upbeat US economic data bolstered the demand outlook for the metal as jobless claims fell to a five-week low down by 1000 to 261000 last week and orders for business equipment in July climbed the most since January up 1.6 per cent from June.

ECONOMY NEWS

  • German Economy Minister Sigmar Gabriel said on Sunday that if Britain’s exit from the European Union was badly handled and other member countries followed its lead, Europe would go “down the drain”.”Brexit is bad but it won’t hurt us as much economically as some fear – it’s more of a psychological problem and it’s a huge problem politically,”Gabriel, the deputy to Chancellor Angela Merkel in Germany’s governing coalition, told a news conference.
  • Central bankers in charge of the vast bulk of the world’s economy delved deep into the weeds of money markets and interest rates over a three-day conference here, and emerged with a common plea to their colleagues in the rest of  government: please help.Mired in a world of low growth, low inflation and low interest rates, officials from the Federal Reserve, Bank of Japan and the European Central Bank said their efforts to bolster the economy through monetary policy may falter unless elected leaders stepped forward with bold measures. These would range from immigration reform in Japan to structural changes to boost productivity and growth in the U.S. and Europe.
  •  The Obama administration on Thursday issued rules aimed at helping states that set up retirement savings programs  for workers by clarifying that the plans are not preempted by federal law.Under the new rules finalized by the Labor Department, state retirement programs are not preempted by the Employee Retirement Income Security Act (ERISA) as long as they meet certain criteria, the White House said in a statement.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1321 TARGET 1326 1332 SL BELOW 1316
  • SELL GOLD BELOW 1317 TARGET 1312 1306 SL ABOVE 1322

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

26Aug

Comex Trading Signals and Market News – 26 August 2016

INTERNATIONAL COMMODITY NEWS

  • Gold prices drifted lower in early Asia on Thursday in cautious trade as investors await views from the U.S. Fed chief at the end of the week to set the tone on chances of a rate hike this year.Gold for December delivery on the Comex division of the New York Mercantile Exchange eased 0.06% to $1,328.95 a troy ounce, while silver futures fell 0.13% to $18.532 a troy ounce. Copper futures for September delivery on the Comex eased 0.05% to $2.079 a pound.
  • Oil prices slipped on Thursday as the market focused on oversupply and fading hopes of a production freeze.Global crude oil benchmark Brent (LCOc1) was down 15 cents at $48.90 a barrel by 1043 GMT, having closed down 1.8 per cent on Wednesday. U.S. light crude oil (CLc1) was down 5 cents at $46.72 a barrel, after dropping 2.8 percent on  Wednesday.
  •  Copper futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators build up fresh positions amid a rise in demand for industrial metal from major consuming industries.Also  the China leading index rose 0.7 per cent in July from June when it advanced 0.5 per cent.

ECONOMY NEWS

  • An unusually large group of Federal Reserve policymakers appeared before activists on Thursday and defended their plans to raise interest rates to keep the U.S. economy from eventually overheating.Several policymakers said raising interest rates gradually would allow them to stimulate the economy for longer, but that an overheating economy couldend in a recession.
  • A senior executive of South Korea’s Lotte Group has died, an official at the country’s fifth-largest family-run conglomerate told Reuters on Friday, amid a sweeping criminal probe into the business.The official, who declined to be named as he was not authorized to speak publicly on the matter, said a police investigation into the death of Lee In-won, a Lotte Group Vice Chairman, was underway. He did not elaborate.
  •  Investors trimmed risk assets before a gathering of central bankers on Friday, pulling $6.4 billion from U.S.-based stock  funds in a course-reversal during the week ended Aug. 24, data from Lipper showed on Thursday.The outflows, which  came a week after cash poured into stock funds for the first time in five weeks, are the last data showing U.S. fund investors’ behavior before Federal Reserve Chair Janet Yellen speaks at an annual central bankers’ conference in Jackson Hole, Wyoming.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1324 TARGET 1329 1335 SL BELOW 1319.
  • SELL GOLD BELOW 1321 TARGET 1316 1310 SL ABOVE 1326.

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

25Aug

Comex Trading Signals and Market News – 25 August 2016

INTERNATIONAL COMMODITY NEWS

  • Oil prices fell on Wednesday on an unexpected increase in U.S. crude stocks that revived worries about the supply glut that has capped prices for the past two years.Global benchmark Brent crude (LCOc1) was down 52 cents, or one percent, at $49.44 a barrel at 1010 GMT, after touching an intraday low of $49.07.U.S. West Texas Intermediate (WTI) crude (CLc1) was down 80 cents, or 1.7 percent, at $47.30 a barrel.
  • Gold prices edged lower in European hours on Wednesday, holding in a familiar range with traders hesitant to make
    big bets ahead of a highly anticipated speech fromFederal Reserve Chair Janet Yellen later this week.Gold for December delivery on the Comex division of the New York Mercantile Exchange dipped $5.65, or 0.42%, to trade at $1,340.45
    a troy ounce by 2:47AM ET (06:47GMT).
  • Copper futures were trading lower during the evening trade in the domestic market on Wednesday as investors cast  aside improved China data which showed a pickup in the world’s biggest economy.The China leading index rose 0.7 percent in July from June when it advanced 0.5 per cent.

ECONOMY NEWS

  • China’s central bank has urged banks to spread out the tenors of their loans, hinting at its displeasure with a recent trend of banks focusing on overnight lending, banking sources told Reuters on Thursday.The People’s Bank of China (PBOC) met with major banks on Wednesday to discuss management of liquidity in Chinese markets amid rising speculation over whether Beijing would continue its monetary policy easing or not, the sources said.
  •  South Korea’s finance minister said on Thursday the introduction of an anti-graft law and sluggish exports will constrain the economic recovery over the second half of this year.Speaking at a policy meeting in Seoul, the nation’s finance
    chief Yoo Il-ho said downside risks are growing for the economy, and added that the government will try to ease household debt by encouraging homebuyers to take amortized, fixed-rate loans.
  •  The dollar bobbed higher in Asian on Thursday but major currencies continued to tread water ahead of the global central bankers’ gathering in Jackson Hole, Wyoming, at which Federal Reserve Chair Janet Yellen may offer new clues on
    U.S. monetary policy.Futures markets on Wednesday were indicating an 18 percent chance the U.S. central bank would
    hike rates at its policy meeting next month, and roughly 50 percent odds of a rate increase in December, according to CME Group’s FedWatch tool.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1335 TARGET 1340 1346 SL BELOW 1330.
  • SELL GOLD BELOW 1332 TARGET 1327 1321 SL ABOVE 1337.

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

24Aug

Comex Trading Signals and Market News – 24 August 2016

INTERNATIONAL COMMODITY NEWS

  • Nickel futures were trading lower during the evening trade in the domestic market on Tuesday as speculators cut down their bets led by fall in demand from alloy-makers at the domestic spot market amid tracking weak trend overseas.Further a drop in domestic demand for nickel was mainly in-line with a weak trend overseas as most industrial metals retreated following comments from a US Federal Reserve official which bolstered speculation that US borrowing costs will rise this year.
  •  Oil fell below $49 a barrel on Tuesday, giving up part of August’s strong rally, as signs of rising supply outweighed  hopes that producing nations will agree steps to support prices.A Nigerian militant group, which has claimed a wave of attacks on oil facilities, said at the weekend it was ready for a ceasefire and Iraq resumed pumping through a northern pipeline halted earlier this year.
  •  Gold prices struggled for direction in European trade on Tuesday, pausing after two days of declines, as markets looked ahead to a speech by Federal Reserve Chair Janet Yellen later this week that could shed light on the timing of a U.S interest rate hike.Gold for December delivery on the Comex division of the New York Mercantile Exchange dipped 25 cents, or 0.02%, to trade at $1,343.15 a troy ounce by 2:52AM ET (06:52GMT).

ECONOMY NEWS

  • Making money amid Mongolia’s deepening economic crisis, currency dealers thronging the black markets of Ulaanbaatar wave wads of American dollars and Chinese yuan, warning desperate customers that foreign banknotes are becoming scarcer by the day.The Naiman Sharga market, close to the Mongolian capital’s cluttered and impoverished “ger” or tent districts, has become a daily destination for residents panicked by a precipitous decline in the currency,the tugrik.
  •  World Bank President Jim Yong Kim on Tuesday formally launched a bid for a second five-year term as head of the multilateral development lender, whose board pledged an “open, merit-based, and transparent” selection process.Kim,a global public health expert and former Dartmouth College president, notified the board of his intention to continue in the bank’s top job after his current term ends on June 30, 2017, the bank said.
  •  The U.S. budget deficit is expected to grow to $590 billion in fiscal year 2016 due to slower than expected growth in revenues and higher spending for programs including Social Security and Medicare, the Congressional Budget Office said on Tuesday.The estimate, which is $56 billion larger than CBO’s forecast in March, shows the deficit increasing in relation to economic output for the first time since 2009. CBO said the deficit is expected to be $152 billion higher than
    in 2015 and will equal 3.2 percent of economic output.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1343 TARGET 1348 1354 SL BELOW 1338.
  • SELL GOLD BELOW 1338 TARGET 1333 1327 SL ABOVE 1343.

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

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