Comex Market

16Jul

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

Comex Gold Signal

                                                                      TODAY’S COMEX GOLD SIGNAL

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Gold prices hovered above fresh seven-month lows Friday, as a weaker dollar failed to lift sentiment, while other metals steadied as trade war concerns eased. Gold futures for August delivery on the Comex division of the New York Mercantile Exchange fell by $5.30, or 0.43%, to $1,241.30 a troy ounce. Gold prices resumed their decline and remained on track for their lowest settlement in nearly two weeks as easing trade-war concerns offset the dollar’s retreat against its rivals from a two-week high.
  • WTI crude oil prices settled higher Friday, but posted steep losses for the week, as traders eased bets on a global supply shortage in the wake of resuming crude flows from Libya and expectations the decline in Iranian exports would be less severe than anticipated. On the New York Mercantile Exchange crude futures for August delivery rose 1.00% to settle at $71.01 a barrel, while on London’s Intercontinental Exchange, Brent rose 1.5% to trade at $75.56 a barrel.
  • The brewing trade war between China and the U.S. is claiming commodity markets as one of its first victims. The Bloomberg Commodities Index, a measure of 26 raw materials, lost 3 percent this week, the most since February. The losses stand out in a week when other risk assets, like emerging-market stocks, were in the green. Soybeans have been hardest hit, with pricing falling to the lowest in a decade as China’s duties on U.S. supplies took effect.

Comex Gold Signal

ECONOMY NEWS

  •  The U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE Corp (HK:0763), allowing China’s second-largest telecommunications equipment maker to resume business. The Commerce Department removed the ban shortly after ZTE deposited $400 million in a U.S. bank escrow account as part of a settlement reached last month. The settlement also included a $1 billion penalty that ZTE paid to the U.S. Treasury in June.
  • While investors say they are wary of the broader real estate industry in a rising interest rate environment, some are still bullish on sectors such as self storage and manufactured homes. Real Estate Investment Trusts (REITs) are typically seen as a defensive investment bet as their large dividend payouts offset slow but predictable growth. The S&P 500 real estate index <.SPLRCR> has outperformed in the last six months with a 5.8 percent climb compared with the broader S&P 500’s (SPX) 0.4 percent advance.
  • The Federal Reserve on Friday pointed to “solid” U.S. economic growth during the first half of the year in its semiannual report to Congress, where it also reiterated that it expected to continue to raise interest rates gradually. It is the Fed’s second submission to lawmakers since Chairman Jerome Powell took the helm of the Fed in early February. He is scheduled to answer questions on it before lawmakers on Tuesday and Wednesday.

Comex Gold Signal

13Jul

COMEX MARKET IN SINGAPORE| GOLD TRADING FORECAST TODAY

Gold Trading Forecast Today

                                                                        Gold Trading Forecast Today

Gold Trading Forecast Today

Gold Trading Forecast Today

INTERNATIONAL COMEX NEWS

  • Gold prices edged higher nearing midday trade on Thursday, snapping a two-day losing streak, amid continuing concerns over trade and mixed economic data. At 11:31 AM ET (15:31GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained $3.40, or 0.3%, to $1,247.80 a troy ounce. Traders commented that gold was getting a lift from some of the trade tensions as market participants looked for a safe-haven investment.
  • A rise in oil prices caused by the United States’ sanctions policies will hurt economic growth in China, Europe and other consumers, much like President Donald Trump’s trade measures, a top Iranian official said on Thursday. Iran’s OPEC governor also told Reuters the rise in oil output by OPEC and its allies, after pressure by Trump to do so, was only 170,000 barrels per day (bpd) in June and would not grow much in 2019, also weighing on economic growth.
  • Natural gas futures stayed lower on Thursday, despite data showing that supplies in storage rose less than forecast last week. Front-month U.S. natural gas futures inched down 1.4 cents, or around 0.5%, to $2.816 per million British thermal units (btu) by 10:33AM ET. Futures were at around $2.824 prior to the release of the supply data. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 51 billion cubic feet (bcf) in the week ended July 6, below forecasts for a gain of 55 bcf.

Gold Trading Forecast Today

ECONOMY NEWS

  • European Union finance ministers are set to agree on Friday a joint position before a meeting with their counterparts at the G20 next week, in which they criticize “unilateral” U.S. trade measures and back a firm response. EU ministers will also call for more global action on tax transparency and against money laundering, and will push for an international digital tax reform by 2020, according to a draft text that will form their mandate at the G20 meeting of finance ministers in Buenos Aires on July 19-22.
  • Luxembourg Finance Minister Pierre Gramegna said on Thursday that the European Union should offer enhanced access for financial services firms from third countries, something Britain is seeking for its banks after it leaves the bloc. The EU has “equivalence” regimes which provide limited access for some of non-EU partners to some areas of EU financial services markets.
  •  Under the leadership of former chair Janet Yellen, the Federal Reserve successfully identified 2017’s slowdown in inflation as transitory. Now with tariffs threatening to accelerate inflation, the Fed faces the opposite question: Is faster inflation just another transitory phenomenon? If Yellen’s successor, Jerome Powell, can’t repeat her ability to distinguish between persistent and temporary inflationary forces, then expect the ride to get much bumpier, ending with either a recession or high inflation — or a combination of both.

Gold Trading Forecast Today

12Jul

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

Comex Gold Signal

                                                                                       Comex Gold Signal

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • OPEC expects supplies from its rivals to increase by the most in five years in 2019, with extra oil from the U.S. alone sufficient to meet the growth in global demand. In its first detailed outlook for 2019, the Organization of Petroleum Exporting Countries indicated that the North American oil boom means OPEC members are already producing enough crude to cover what will be needed from them.
  • Copper prices fell sharply on Wednesday, hitting one-year lows amid a wider selloff in industrial metals sparked by fears that a second round of U.S. tariffs on Chinese imports could hit demand for metals, particularly if Chinese growth is affected. Copper futures for September delivery were down 2.98% to $2.753 a pound by 04:51 AM ET (08:51 AM GMT) after falling as low as $2.717 overnight, the weakest since July 19, 2017.
  • West Texas Intermediate oil extended losses in North American trade on Wednesday, as data showed that oil supplies in the U.S. fell more than expected. Crude oil for August delivery on the New York Mercantile Exchange fell 1.16% to trade at $73.25 a barrel by 10:50 AM ET (2:50GMT) compared to $73.22 ahead of the report. The U.S. Energy Information Administration said in its weekly report that crude oil inventories fell by 12.633 million barrels in the week ended July 6.

12July4

ECONOMY NEWS

  • China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods. China’s commerce ministry said on Wednesday it was “shocked” and would complain to the World Trade Organisation, but did not immediately say how it would retaliate. In a statement, it called the U.S. actions “completely unacceptable”.
  • The tit-for-tat tariffs imposed by Canada and the United States will trim Canadian exports and imports by 0.6 percent and boost inflation by about 0.1 percentage point, the Bank of Canada said on Wednesday. The tariffs, along with related uncertainty about U.S. trade policy that hangs over Canada’s export-driven economy, will subtract about 2/3 percent from GDP by the end of 2020, the central bank said in its quarterly monetary policy report.
  • British trade minister Liam Fox said on Wednesday he did not believe that Britain’s new Brexit strategy would inhibit its ability to agree trade deals with countries around the world, after two cabinet colleagues resigned over the policy. Former Foreign Secretary Boris Johnson and Brexit minister David Davis quit at the start of this week in protest over the strategy. Johnson said the plan would make it much more difficult to do trade deals.

12july5

11Jul

COMMODITY MARKET IN SINGAPORE| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices were under pressure on Tuesday as a stronger dollar pushed the precious metal back towards 7-month lows hit a week earlier. At 10:55AM ET (14:55GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained $4.90, or 0.4%, to $1,254.70 a troy ounce. Meanwhile, the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, gained 0.22% to 94.01.
  •  Iranian vice president Eshaq Jahangiri acknowledged on Tuesday that U.S. sanctions would hurt the economy but promised to “sell as much oil as we can” and protect its banking system. Jahangiri said Washington was trying to stop Iran’s petrochemical, steel and copperexports, and to disrupt its ports and shipping services. “America seeks to reduce Iran’s oil sales, our vital source of income, to zero,” he said, according to Fars news agency.
  • Crude oil prices rose on Tuesday amid supply shortages, as Iran vowed to sell as much oil as it could. West Texas Crude oil futures rose 0.84% to $74.47 a barrel as of 10:00 AM ET (14:00 GMT). Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., rose 1.65% to $79.36. Iran’s vice president, Eshaq Jahangiri, said that the U.S.’s attempts to stop oil exports would have an impact but the country would still “sell as much oil as we can.”

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • European Affairs Minister Paolo Savona said on Tuesday that Italy had to be ready for “all eventualities” regarding its membership of the euro zone, which might depend on factors outside its control. Italy’s anti-establishment League/5- Star Movement coalition had nominated Savona to be its first economy minister last month, but President Sergio Mattarella vetoed the appointment because of Savona’s scepticism about euro zone membership. The academic who was eventually named economy minister, Giovanni Tria, has committed Italy to keeping the euro.
  • S&P Global is watching Turkey closely, the rating agency said on Tuesday, and it warned that President Tayyip Erdogan’s move to install his son-in-law as finance minister showed power in the country was now increasingly centralized. S&P rates Turkey at BB-, lower than rivals Moody’s and Fitch following a downgrade in May, but one of its senior sovereign analysts, Frank Gill, told Reuters the country’s political changes were keeping it in focus.
  • Turkish President Recep Tayyip Erdogan unfortunately is a man of his word. He promised to take greater control of monetary policy during the election campaign, and he has wasted no time in doing so. He has snipped the last threads in Turkey’s safety net – and he has made his nation all but uninvestable. Deputy Prime Minister Mehmet Simsek, and Finance Minister Naci Agbal have both departed. They were the kinds of officials global investors like to see – committed to sound financial management and standard economic principles. They did a lot to soothe investors’ nervousness as Erdogan tightened his grip on the country. There seems to be no one left to fulfill that role.

GOLD TRADING FORECAST TODAY

10Jul

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices gained on Monday on a softer dollar and threat of a full-blown trade war after US tariffs on $34 billion worth of Chinese goods took effect on Friday, while China’s commerce ministry retaliated with 25% tariffs on $34 billion worth of US imports. Gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained 0.32% to $1,259.80 a troy ounce by 1:30AM ET (05:30 GMT).
  • Saudi Aramco is more resilient to oil price slumps than its biggest listed rivals, its 2016 accounts indicate, giving a rare insight into the state energy giant’s finances ahead of a proposed flotation. The full-year accounts, not publicly available but seen by Reuters, show Aramco’s net income fell by about 21 percent to $13.3 billion in 2016 – when oil prices collapsed to a 12-year low of $27.10 a barrel due to a global glut of crude.
  • Oil prices rose on Monday after data last week showed U.S. crude inventories fell to their lowest in three years. Trade dispute between the U.S. and China remained in focus. Crude Oil WTI Futures for August delivery were trading at $74.08 a barrel at 12:02AM ET (04:02 GMT), up 0.38%. Brent Oil Futures for September delivery, traded in London, were also up 0.47% at $77.48 per barrel. Official data showed on Thursday that inventories at Cushing, the delivery point for U.S. crude futures, fell to their lowest in 3-1/2 years.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Canadian, Mexican and U.S. auto trade associations on Monday urged a “renewed focus” in talks to reshape the North American Free Trade Agreement, saying all parties should return to the negotiating table now for a “cohesive threecountry” deal. “It is in the best interest of all three countries to refocus on establishing a new NAFTA agreement that will allow the North American auto industry to remain globally competitive,” said the statement, released jointly by auto parts and car manufacturing associations from the three nations.
  •  Indonesia’s central bank governor said on Monday assessments of the domestic economy and global indicators would determine whether monetary policy needed to be tightened further, after three rate increases in two months to defend the currency. In an interview, Bank Indonesia (BI) Governor Perry Warjiyo said rate rises had made returns on assets in Southeast Asia’s biggest economy more attractive, noting that investors had started to re-enter the government bond market.
  • European Central Bank President Mario Draghi renewed on Monday his call for a common bank deposit insurance scheme for the euro area after it was kicked into the long grass by the bloc’s leaders. The ECB sees a European Deposit Insurance Scheme as crucial to underpinning depositor confidence in their bank across the currency bloc.

GOLD TRADING FORECAST TODAY

9Jul

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices held steady on Thursday as traders awaited minutes from the U.S. Federal Reserve’s June policy meeting later in the day. Gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained 0.14% to $1,255.30 a troy ounce by 1:30AM ET (05:30 GMT). “There’s not much incentive to move the market, it is very quiet this morning after the July 4 holiday. I don’t expect too much movement until the Fed minutes,” said Yuichi Ikemizu, Tokyo branch manager at ICBC Standard Bank.
  • World powers and Iran appeared to make no concrete breakthrough on Friday in talks to provide Tehran with an economic package to compensate for U.S. sanctions that begin taking effect in August. Ministers from Britain, China, France, Germany and Russia met their Iranian counterpart in Vienna for the first time since U.S. President Donald Trump left a nuclear accord in May, but diplomats had seen limited scope for salvaging it.
  • Oil slipped below $77 a barrel on Friday, under pressure from higher Saudi production and trade tensions between the United States and China, despite support from oil supply disruptions. Top exporter Saudi Arabia told OPEC it raised oil output by almost 500,000 barrels per day last month, OPEC sources said, a sign Riyadh wants to make up for shortages elsewhere and dampen prices. Brent crude (LCOc1), the global benchmark, was down 76 cents at $76.63 a barrel by 1313 GMT. U.S. crude (CLc1) slipped 65 cents to $72.29.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • U.S. job growth increased more than expected in June as manufacturers stepped up hiring, but steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases. Nonfarm payrolls rose by 213,000 jobs last month, the Labor Department said on Friday. Data for April and May was revised to show 37,000 more jobs created than previously reported. The economy needs to create roughly 120,000 jobs per month to keep up with growth in the working-age population.
  •  The United States and China slapped tit-for-tat duties on $34 billion worth of each other’s imports on Friday, with Beijing accusing Washington of triggering the “largest-scale trade war” as the world’s two biggest economies sharply escalated their conflict. Hours before Washington’s deadline for the tariffs to take effect, U.S. President Donald Trump upped the ante, warning that the United States may ultimately target over $500 billion worth of Chinese goods, or roughly the total amount of U.S. imports from China last year.
  • German Finance Minister Olaf Scholz on Friday defended his balanced budget plan for this year, saying that fiscal policy should be planned while bearing in mind that restrictive trade policies could hit tax revenues. “If we look at the trade development, it is justifiable to be careful in budget planning,” Scholz said during a news conference. Scholz also said that an escalating trade dispute between the United States and its partners would hit the world’s largest economy.

GOLD TRADING FORECAST TODAY

6Jul

GOLD TRADING FORECAST TODAY | COMMODITY MARKET IN SINGAPORE

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices held steady on Thursday as traders awaited minutes from the U.S. Federal Reserve’s June policy meeting later in the day. Gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained 0.14% to $1,255.30 a troy ounce by 1:30AM ET (05:30 GMT). “There’s not much incentive to move the market, it is very quiet this morning after the July 4 holiday. I don’t expect too much movement until the Fed minutes,” said Yuichi Ikemizu, Tokyo branch manager at ICBC Standard Bank.
  • Oil prices fell on Thursday after U.S. President Donald Trump sent a strident tweet demanding that OPEC cut prices for crude. The escalating trade row between Washington and Beijing, which triggered another sell-off in Asian stocks on Thursday, was also felt in oil markets, with China warning it could introduce duties on U.S. crude imports at an as yet unspecified date.
  • A growing fleet of ships is scanning oceans in search of new oil and gas fields as energy companies, now with more cash thanks to stronger crude prices, gradually resume spending on seismic services after a four-year downturn. A doubling in the area contracted for seismic work in the first quarter this year from the last three months of 2017 has injected optimism into surveillance firms, with a global fleet of about 24 vessels, most of whom struggled to survive in the past years.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • The British government and the European Union must avoid a no-deal Brexit “at all costs” as this would clog up food supplies, raise prices and throw retailers out of business, the UK retail industry’s lobby group said on Thursday. The warning from the British Retail Consortium (BRC) came a day before British Prime Minister Theresa May hosts ministers at her country residence to try to reach agreement on how to push on with the all-but-stalled Brexit talks.
  • German Chancellor Angela Merkel said on Thursday she would back a lowering of EU tariffs on U.S. car imports, responding to an offer from Washington to abandon threats to impose levies on European cars in return for concessions. Merkel said any such measures would require the European Union to also lower tariffs on cars imported from countries other than the United States, otherwise the plan would not be conform to World Trade Organization rules.
  • British lawmakers will debate the government’s proposed legislation on post-Brexit customs arrangements and trade on July 16 and 17, creating another potential flashpoint between Prime Minister Theresa May and pro-European Union lawmakers. The debates will be a chance for lawmakers in May’s Conservative Party to make the case for Britain to remain in a customs union with the EU – something May has ruled out despite being unable to find an alternative that is acceptable to her cabinet and Brussels.

GOLD TRADING FORECAST TODAY

5Jul

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices were at a one-week high on Wednesday as the U.S. dollar weakened. Comex gold futures for August delivery increased 0.36% to $1,258.00 a troy ounce as of 9:55 AM ET (13:55 GMT). Trading volumes are expected to remain thin throughout the day, as U.S. investors celebrate Independence Day. Gold was bolstered by a weaker U.S. dollar. Gold normally rises as the dollar falls, as the precious metal is denominated in the U.S. currency and is sensitive to moves in the dollar.
  • Oil prices registered mixed signs in holiday-thinned trading on Wednesday as market participants kept an on eye on U.S. crude stockpiles. New York-traded West Texas Intermediate crude futures lost 12 cents, or about 0.2%, to $74.02 a barrel by 10:27AM ET (14:27GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., traded up 5 cents or 0.1%, to $77.82. The decline in oil prices occurred despite data released late Tuesday that showed a decline in U.S. oil inventories.
  • A senior Iranian Revolutionary Guards commander said on Wednesday that the Guards were ready to implement a policy preventing regional oil exports if Iranian oil sales were banned by the United States. President Hassan Rouhani appeared on Tuesday to threaten to disrupt oil shipments from neighboring countries if Washington presses ahead with its goal of forcing all countries to stop buying Iranian oil.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • China will “absolutely not” fire the first shot in a trade war with the United States and will not be the first to levy tariffs, its finance ministry said on Wednesday. A person with knowledge of the plan earlier told Reuters China’s threatened tariffs on $34 billion of U.S. goods would take effect from the beginning of the day on Friday. Given the 12-hour time difference, that would have put its implementation ahead of Washington’s.
  • Fast-growing “superstar” tech firms are taking a growing share of national income in many countries, leaving workers’ overall wage growth subdued, the Organization for Economic Cooperation and Development said on Wednesday. Though unemployment in most OECD countries has returned to pre-crisis levels, wage growth has not, even though many labor markets have become the tightest they have ever been, the Paris-based policy forum said in its annual Employment Outlook.
  • China is comfortable with a weakening yuan, intervening only to prevent any rapid and destabilizing declines or to restore market confidence, as the economy loses momentum and faces further risks from a heated trade dispute with the United States, policy insiders said. On Tuesday, as stocks sank and the yuan fell through a key psychological level of 6.7 on the dollar, traders said state-owned banks, which sometimes act on behalf of the central bank, made efforts to prop up the currency. GOLD TRADING FORECAST TODAY
2Jul

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices traded higher Friday on a weaker dollar, but remained on track to post their biggest monthly slump since September after suffering heavy losses this month. Gold futures for August delivery on the Comex division of the New York Mercantile Exchange rose by $4.90 or 0.39%, to $1,255.90 a troy ounce.
  • Oil prices added to strong weekly gains on Friday as market participants placed bets that supply concerns would outweigh an attempt by producers to increase production. New York-traded West Texas Intermediate crude futures gained 77 cents, or about 1.1%, to $74.22 a barrel by 10:55AM ET (14:55GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., traded up $1.42, or 1.8%, to $79.03.
  • Oil prices slid on Friday, with concerns about escalating trade tension between the U.S. and its major trade partners being cited as catalyst for the selling. Crude Oil WTI Futures for August delivery were trading at $73.17 a barrel at 1:20AM ET (05:20 GMT), down 0.40%. Brent Oil Futures for September delivery, traded in London, were also down 0.2% at $77.45 per barrel. Meanwhile, Shanghai Crude Oil WTI Futures for September delivery climbed 0.6% at 494.80 yuan per barrel on Friday.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Mexican assets are poised to strengthen even if leftist front-runner Andres Manuel Lopez Obrador wins Sunday’s presidential election, analysts say, on expectations he will govern from the center and as the uncertainty stemming from the race fades. Lopez Obrador, a former Mexico City mayor, holds a roughly 20-point lead over his nearest rival ahead of the July 1 vote, according to the latest polls, putting him on track to become the first leftist Mexican president since the 1930s.
  • The U.S. Commerce Department said on Friday it has begun a review of export controls that will be aligned with new legislation to strengthen national security reviews of foreign acquisitions of American firms, rather than China-specific curbs. In a statement to Reuters, the department said the review would establish changes to the controls “based on risks associated with particular technologies, destinations and end-uses among other relevant factors.”
  • Ahead of Brazil’s wildly unpredictable elections, one of the wealthiest and most powerful men in the country is expanding yet further the frontiers of his media and religious empire. “Nothing to Lose,” the rags-to-riches biopic of billionaire evangelical bishop Edir Macedo, debuted on Netflix (NASDAQ:NFLX) Friday just months after its cinema release drew millions of Brazilians to the Universal Church’s latest marketing tool. It was the most successful film in the history of Brazilian cinema, according to TV Record, the television station controlled by Macedo

GOLD TRADING FORECAST TODAY

28Jun

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices were lower on Wednesday as the dollar strengthened and trade tensions eased. Comex gold futures for August delivery fell 0.20% to $1,257.40 a troy ounce as of 10:45 AM ET (14:45 GMT). Trade war worry eased after news that the White House administration is taking a less harsh approach to foreign investment restrictions.
  • U.S. crude stocks fell by nearly 10 million barrels last week as refineries hiked output, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 9.9 million barrels in the last week, compared with analysts’ expectations for a decrease of 2.6 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 2.7 million barrels, EIA said. Refinery crude runs rose by 115,000 barrels per day, EIA data showed.
  • At least some buyers of Iranian supplies in the world’s biggest oil market are considering acquiescing to U.S. President Donald Trump’s demands. As the American administration piles pressure on its allies to entirely halt purchases of Iranian supplies, Japan’s Fuji Oil Co. and Taiwan’s Formosa Petrochemical Corp. are considering ending imports from the OPEC member — though they are yet to make a final decision. South Korea has already put some imports on hold while Emirates National Oil Co.

ECONOMY NEWS

  • President Donald Trump announced the details of a plan to crack down on Chinese investment in US technology companies, but the final results were weaker than expected. After fears that Trump would introduce harsh measures to curb Chinese investment in US-based technology companies, the US president decided to use less stringent methods to curb the practice, including the expanded use of the Committee on Foreign Investment in the United States, or CFIUS.
  • A government think-tank report that appeared briefly online said that China should be wary of any financial panic stemming from uncertainties, such as bond defaults, tight liquidity and trade frictions with the United States. The comments were made in a report by the National Institution for Finance & Development (NIFD) that Bloomberg said was leaked briefly on the Internet on Monday and was removed. Reuters also saw the report, which was not available on the think-tank’s website on Wednesday.
  • The White House opted to take a less confrontational approach toward Chinese investments in the U.S. as it pushes Congress to strengthen an existing review process rather than invoke a little-used law reserved for economic emergencies. President Donald Trump wants Congress to pass legislation to bolster the Committee on Foreign Investment in the U.S., or CFIUS, so it can prevent companies from violating intellectual-property rights of American companies, two administration officials said Wednesday, speaking to reporters on the condition of anonymity.

 Gold Trading Forecast Today

 Gold Trading Forecast Today

 

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