Comex Market

12Sep

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 were driven lower on Tuesday as the U.S. dollar rallied amid Sino-U.S. trade tensions. Comex gold futures for December delivery fell 0.23% to $1,197.10 a troy ounce as of 10:25 AM ET (14:25 GMT). U.S. President Donald Trump threatened on Friday to impose tariffs on almost all Chinese imports, or about $467 billion in goods. Meanwhile, China is planning to ask the WTO for permission to impose sanctions on the U.S., according to a WTO meeting agenda.
  • Oil prices rose on Tuesday as U.S. sanctions squeezed Iranian crude exports, tightening global supply despite efforts by Washington to get other producers to increase output. Benchmark Brent crude oil (LCOc1) was up 40 cents at $77.77 a barrel by 0950 GMT. U.S. light crude (CLc1) was up 5 cents at $67.59. “The path of least resistance for oil prices, given the supply fundamentals, remains up,” Harry Tchilinguirian, oil strategist at BNP Paribas (PA:BNPP), told Reuters Global Oil Forum.
  • “Push the steel mills out of the city center and turn it into a modern, habitable place to live in,” reads a banner hung across the boarded-up offices of Guofeng Iron and Steel Co in the center of Tangshan, China’s top steelmaking city. Behind the gates of the factory, surrounded by a hospital, a shopping mall and high-rise apartment blocks, workers and bulldozers were busy on a recent visit tearing down furnaces as part of a 38 billion yuan ($5.5 billion) plan to move to a new industrial park 60 kilometers (37 miles) away.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • The wrong Brexit deal could cost tens of thousands of jobs, the boss of Britain’s biggest carmaker Jaguar Land Rover warned on Tuesday, saying he had no idea whether his plants would be able to operate after Britain leaves the European Union next year. Ralf Speth also said that the company would not be able to build cars if customs checks meant that the motorway to and from the southern English port of Dover, which is used to transport components, becomes a “car park” due to snarl-ups.
  • It is an image that became a symbol of the global financial crisis — about 20 bankers, their backs turned to the window, attending an emergency meeting at the London office of Lehman Brothers as the firm slid toward collapse. Gwion Moore, one of those pictured in the Reuters photograph taken on Sept. 11, 2008, recalled how the growing sense of panic in financial markets contrasted with the mood inside the building at the time. “
  • A whistleblower fighting extradition to Switzerland for leaking details of thousands of clients of HSBC’s (L:HSBA) private bank there said on Tuesday his actions had played a key role in helping other European countries uncover tax frauds. Spain’s High Court is considering Switzerland’s second extradition request against Herve Falciani, a French citizen who worked for HSBC, over alleged industrial sabotage in 2008.

GOLD TRADING FORECAST TODAY

11Sep

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

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INTERNATIONAL COMEX NEWS

  • Gold prices were flat on Monday amid expectations of a Federal Reserve rate hike and trade war tensions lowered investor sentiment. Comex gold futures for December delivery fell 0.08% to $1,199.40 a troy ounce as of 4:43 AM ET (8:43 GMT). The price of gold was flat as Friday’s upbeat jobs repor increased expectations of a Fed rate hike in September. Expectations of higher interest rates tend to boost the dollar by making the currency more attractive to yieldseeking investors.
  • Oil prices rose on Monday as U.S. drilling stalled and as investors anticipated lower supply once new U.S. sanctions against Iran’s crude exports kick in from November. Benchmark Brent crude oil rose $1.09 a barrel, or 1.4 percent, to a high of $77.92 and was trading at $77.85 by 0900 GMT. U.S. light crude was 70 cents higher at $68.45.
  • Plans for a deal under which Russia and Kazakhstan are to supply wheat to Iran have stalled as “no progress” has been made in its financing, the secretary general of the Iran Federation of Food Industry Associations said. Talks on the deal began six months ago. It would see Russia and Kazakhstan supplying wheat to Iranian flour millers, who in turn would supply flour to Iraq — a market dominated by Turkey.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • European Union trade chief Cecilia Malmstrom met her U.S. counterpart for the first time on Monday since President Donald Trump dropped his threat to impose tariffs on EU cars, saying they had discussed how to achieve concrete results soon. Malmstrom hosted United States Trade Representative Robert Lighthizer in Brussels on Monday. The two are set to meet again at the end of September.
  • Economists say the country is close to full employment, but pay gains for American workers have been flat since 2015. Even last week’s upward blip in wage growth could be wiped out by inflation. Yet Americans haven’t been this optimistic about future pay raises since the century began, according to the Conference Board’s monthly surveys.
  • Turkish economic growth slowed to 5.2 percent year-on-year in the second quarter, data showed on Monday, in what officials described as an “economic rebalancing” before an expected second-half slowdown as Turkey grapples with a currency crisis. President Tayyip Erdogan has overseen strong growth during his 15 years in power but the economy is now facing challenges after a sharp decline in the lira, triggered partly by concerns about his influence over monetary policy.

COMEX GOLD SIGNAL

10Sep

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 headed lower on Friday as the U.S. jobs report showed that wage inflation accelerated to its fastest pace since April 2009, increasing the odds that the Federal Reserve will follow through on two more interest rate hikes this year. At 10:48 AM ET (14:48 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange slipped $1.10, or 0.09%, to $1,203.20 a troy ounce, compared to $1,206.70 ahead of the release.
  • Oil prices fell on Friday, as U.S. crude inventories fell to their lowest levels since 2015 and investors looked ahead to weekly rig numbers. West Texas crude oil futures slumped 0.60% to $67.36 a barrel as of 11:24 AM ET (15:24 GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., decreased 0.41% to $76.19. The U.S. Energy Information Administration said in its weekly report that crude oil inventories fell by 4.302 million barrels in the week ended Aug. 31.
  • China’s crude oil imports rose 6 percent in August from a month earlier to their highest since May, boosted by a rebound in demand from smaller, independent refiners, according to Reuters calculations based on official data on Saturday. Arrivals last month were 38.17 million tonnes, or 8.99 million barrels per day (bpd), according to Reuters calculations based on official data.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • China’s trade surplus with the United States widened to a record in August even as the country’s export growth slowed slightly, an outcome that could push President Donald Trump to turn up the heat on Beijing in their cantankerous trade dispute. The politically sensitive surplus hit $31.05 billion in August, up from $28.09 billion in July and surpassing the previous record set in June.
  • Continued job growth and the fastest wage increases in nearly a decade leave the Federal Reserve’s current plans for interest rate increases intact, with no sign the economy is yet overheating, Cleveland Fed President Loretta Mester said on Friday. Mester, a current voter on rate policy who has been among the most concerned about inflation and financial stability risks, said that the U.S. employment report for August released earlier on Friday was “strong” and a sign that pay increases have spread across industries and to weaker parts of the country.
  • The Federal Reserve should keep raising U.S. interest rates until mid-2019, and only then needs to take a decision on when it ought to stop, Dallas Fed President Robert Kaplan suggested on Friday. Kaplan has previously said he thinks the Fed should raise rates three or four more times over the next nine to 12 months to lift interest rates to the 2.5 percent to 2.75 percent range he views as neutral, a view he reiterated on Friday at a conference at his bank’s headquarters.

GOLD TRADING FORECAST TODAY

7Sep

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

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INTERNATIONAL COMEX NEWS

  • Gold prices edged up on Thursday morning in Asia after hitting an 11-day low on Tuesday, as the U.S. dollar traded lower. Gold futures for December delivery rose 0.31% to $1,205 at 11:30PM ET (03:30 GMT) on the Comex division of the New York Mercantile Exchange. The U.S. dollar index, which tracks the greenback to a basket of other currencies, fell by 0.11% to 94.97, as British pound and the Euro rose on breakthrough from Brexit talks.
  • Oil prices dipped on Thursday as emerging market turbulence weighed on sentiment, while a deadline neared for a potential new round of U.S. tariffs on another $200 billion of Chinese goods. U.S. sanctions against Iran, however, prevented prices from falling further as they are expected to tighten the market after being implemented from November, traders said.
  • U.S. oil producer ConocoPhillips (N:COP) is still awaiting payment from Venezuela on a $2 billion arbitration settlement reached last month with the country’s state-run PDVSA, Chief Executive Ryan Lance said on Wednesday. Conoco last month suspended legal attachments efforts that had cut Venezuela’s oil exports from several Caribbean facilities following a deal that allowed the country 90 days to make an initial $500 million payment.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Top U.S. and Canadian trade negotiators were set for a second day of talks on Thursday over a revised North American Free Trade Agreement after their subordinates worked late into the night to flesh out opportunities for a compromise deal. Canadian Foreign Minister Chrystia Freeland sounded sanguine on Wednesday as she emerged from negotiations with top U.S. trade negotiator Robert Lighthizer, although she cautioned that no trade deal was done until the last issue was nailed down.
  • A Brazilian Supreme Court justice on Thursday rejected the latest appeal by jailed former president, Luiz Inacio Lula da Silva, that he be allowed to run in next month’s election. Justice Edson Fachin, in a decision posted on the court’s website, ruled against the request from Lula’s legal team, which argued that Brazil was required to follow the recommendation of the United Nations Human Rights Committee and allow Lula to run for office from jail.
  • China will study how to lower the social security tax rate to ensure the tax burden for all companies – including venture capital firms – does not increase, the state cabinet was cited by state radio as saying on Thursday. China’s tax bureau will take over social security collection from the Social Security Bureau in 2019, a move seen enforcing greater compliance by companies as the government frets over an aging population and rising pension deficit.

7sept5

6Sep

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 rose on Wednesday morning in Asia, driven by the ongoing currency crisis in Argentina, which economists expect could lead to a recession, a weaker peso and higher inflation. Gold futures for December delivery went up 0.06% to $1,199.7 at 10:47PM ET (02:47 GMT) on the Comex division of the New York Mercantile Exchange. A monthly survey by Bloomberg on Tuesday showed that Argentina’s inflation is expected to hit 40.3% at the end of the year, higher than the 31.8% forecasted in July.
  • Oil fell toward $77 a barrel on Wednesday as a tropical storm hitting the U.S. Gulf coast weakened and moved away from oil-producing areas, easing supply concerns. Crude had jumped the previous day as oil companies shut dozens of offshore platforms in anticipation of damage from tropical storm Gordon. But by Wednesday the storm was weakening, reducing its threat to oil producers.
  • U.S. oil producer ConocoPhillips (N:COP) is still awaiting payment from Venezuela on a $2 billion arbitration settlement reached last month with the country’s state-run PDVSA, Chief Executive Ryan Lance said on Wednesday. Conoco last month suspended legal attachments efforts that had cut Venezuela’s oil exports from several Caribbean facilities following a deal that allowed the country 90 days to make an initial $500 million payment.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Argentina’s peso lost nearly 1 percent against the U.S. dollar early on Wednesday as government officials met with the International Monetary Fund in Washington to try to secure early cash disbursements under an emergency financing deal. The peso opened down 0.89 percent at 39.4 to the dollar despite Economy Minister Nicolas Dujovne saying in Washington on Tuesday evening that he hoped to clinch a deal with the IMF within a month.
  •  Italy is unlikely to get one of its own appointed as the next head of Europe’s banking watchdog, sources say, diminishing Rome’s chances of retaining its influence over the European Central Bank once ECB chief Mario Draghi steps down next year. The ECB is looking to replace Daniele Nouy, a French national, as the head of the Single Supervisory Mechanism (SSM) — the first of four top jobs at the central bank coming up for grabs in the next 15 months.
  • The U.S. Federal Reserve should hold off on further interest rate rises because the stance of monetary policy is already at neutral or possibly restrictive, St. Louis Federal Reserve Bank President James Bullard said on Wednesday. Bullard has repeatedly raised the alarm over the central bank’s plan to keep raising its benchmark lending rate and pointed to financial market signals as the best indicator of how policymakers should proceed.

GOLD TRADING FORECAST TODAY

4Sep

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

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INTERNATIONAL COMEX NEWS

  • Gold prices fell Monday morning in Asia, a day after Chinese President Xi Jinping gave a speech about his government’s determination to engage in economic reforms amid an escalating trade war between Beijing and Washington. Gold futures for December delivery were down by 0.15% to $1,204.90 per troy ounce at 1:20AM ET (05:20 GMT) on the Comex division of the New York Mercantile Exchange.
  • OPEC crude production rose in August to the highest level this year as a recovery in Libyan output helped to offset a cut in Iranian exports due to U.S. sanctions. The group’s 15 members, which now include the Republic of Congo, collectively produced 32.74 million barrels a day last month, an increase of 420,000 barrels a day from July, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data.
  • Oil prices rose on Monday, supported by concerns that falling Iranian output will tighten markets once U.S. sanctions bite from November, but gains were limited by higher supply from OPEC and the United States. Brent crude oil (LCOc1) was up 50 cents at $78.14 a barrel by 1215 GMT. U.S. crude (CLc1) was 10 cents higher at $69.90. The two benchmarks have risen strongly over the last two weeks with Brent gaining more than 10 percent on expectations that global supply will tighten later this year.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Britain’s finance ministry is in talks with the Bank of England over whether Governor Mark Carney is willing to stay beyond his planned departure date of June 30 next year, amid difficulties finding a successor, the BBC reported on Monday. Carney originally planned to serve just five years of a maximum eight-year term as governor, but in October 2016 he agreed to stay an extra year, until mid 2019, to see Britain past its expected departure from the European Union.
  • The European Commission proposed on Monday opening formal talks with the United States to address U.S. concerns that its farmers do not get a fair share of the Europe’s beef market. The move is not part of the agreement struck between the Commission President Jean-Claude Juncker and U.S. President Donald Trump in July, but could serve to ease mounting trade tensions between the transatlantic partners.
  • The leaders of the parties in Italy’s coalition government have signaled they will seek leeway for deficit spending next year, putting it on a collision course with the European Commission and investors. After Fitch cut the outlook on Italy’s debt rating on Friday, neither Matteo Salvini nor Luigi Di Maio – the heads of the League and 5-Star Movement respectively – backed away from campaign promises to cut taxes and boost welfare spending.

COMEX GOLD SIGNAL

3Sep

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 gained on Friday as reports that U.S. President Donald Trump was considering plans to impose tariffs on $200 billion in Chinese imports as soon as next week weighed on market sentiment. Gold futures for December delivery was at a trading price of $1,211.5 per troy ounce, up by 0.6%, at 1:10AM ET (05:10 GMT) on the Comex division of the New York Mercantile Exchange. The precious metal remained on track to record their longest monthly losing streak since 2013 despite today’s gains.
  • Oil prices slipped on Friday as concerns over the impact of a global trade war depressed sentiment, although impending U.S. sanctions on Iran and falling Venezuelan output limited losses. Benchmark Brent crude oil (LCOc1) was down 40 cents at $77.37 a barrel by 1310 GMT. U.S. light crude (CLc1) was 30 cents lower at $69.95.
  • OPEC oil output has risen this month to a 2018 high as Libyan production recovered and Iraq’s southern exports hit a record, a Reuters survey found, although a cut in Iranian shipments due to U.S. sanctions limited the increase. The 15- member Organization of the Petroleum Exporting Countries has pumped 32.79 million barrels per day in August, the survey on Friday found, up 220,000 bpd from July’s revised level and the highest this year.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • The Russian central bank will need to postpone a plan to cut rates due to new U.S. sanctions against Moscow seen taking toll on inflation and the rouble, a monthly Reuters poll of 20 analysts and economists showed on Friday. Russia’s economic outlook deteriorated after the rouble hit more than two-year lows against the dollar in August following Washington’s move to apply fresh sanctions against Moscow and a warning that it could extend them in the future.
  • The Brazilian economy accelerated slightly in the second quarter despite a nationwide truckers’ strike, as a slow and uneven recovery rumbled on ahead of presidential elections in October. Brazil’s gross domestic product (GDP) grew 0.2 percent from the first quarter and 1.0 percent from a year before, government statistics agency IBGE said on Friday. That compares with economists’ consensus forecasts of 0.1 percent and 1.1 percent, respectively.
  • The European Commission confirmed on Friday that trade measures restricting the sale of solar panels from China would end at the start of next week. The Commission, which coordinates EU trade policy, said in a statement that the measures would expire at midnight on Monday September 3. The European Union first imposed anti-dumping and anti -subsidy measures for Chinese solar panels, wafers and cells in 2013 and extended them in March 2017 by 18 months, signaling that they should then end.

GOLD TRADING FORECAST TODAY

31Aug

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

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INTERNATIONAL COMEX NEWS

  • Gold prices fell on Thursday and were on track to record a fifth straight monthly decline on expectations of a higher interest rates. Gold futures for December delivery was trading at $1,209.5 per troy ounce, down by 0.16% at 12:32AM ET (04:32 GMT) on the Comex division of the New York Mercantile Exchange. Markets widely expect the Federal Reserve to hike interest rates in September and December following last week’s Jackson Hole symposium, where Fed chairman Jerome Powell defended the policy of interest rate hikes, adding that he expected a low but gradual growth of interest rates as inflation is reaching the country’s 2% target.
  • U.S. crude prices rose on Thursday as traders speculated on further tightening of supply, as weekly U.S. inventory data showed diminishing inventories. New York-traded West Texas Intermediate crude futures gained 22 cents, or 0.32%, at $68.69 a barrel by 11:06 AM ET (15:06 GMT), not far from its intraday high of $69.73. Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., rose 26 cents, or 0.34%, to $77.72.
  • The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stockpiles increased by 70 billion cubic feet for the week ending August 24. Analysts were expecting a storage injection of around 65 billion cubic feet. The five-year average for the week is an injection of 59 billion cubic feet, and last year’s storage increase for the week totaled 30 billion cubic feet.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • India’s main opposition Congress party on Thursday lashed out at Prime Minister Narendra Modi after central bank data showed that his shock 2016 move to ban high-value notes failed to meet his key objective of flushing out money hidden from the tax man. Modi withdrew 500 and 1,000 rupee notes from circulation to make hoarded cash, or black money, worthless. It aimed to bring billions of dollars worth of cash in unaccounted wealth into the mainstream economy and to hit the finances of militant groups suspected of using fake 500 rupee notes to fund operations.
  • Turkish central bank Deputy Governor and Monetary Policy Committee member Erkan Kilimci will resign from the role, according to a person familiar with the matter. Kilimci, who was appointed to the job in May 2016, is joining the board of the Development Bank of Turkey, the person said. The lira extended this week’s slump as news emerged of Kilimci’s departure. The currency dropped as much as 5.8 percent to 6.8427 against the dollar in thin trade during a public holiday in Turkey.
  • The European Union’s detente on tariffs with the United States has not put to rest “profound disagreements” on trade policy, the European commissioner in charge of trade said on Thursday. U.S. President Donald Trump agreed in July to refrain from imposing car tariffs while the two sides sought to cut other trade barriers, in a move described then by the European Commission chief as major concession.

COMEX GOLD SIGNAL

30Aug

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

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INTERNATIONAL COMEX NEWS

  • Gold prices were lower on Wednesday as Sino-U.S. trade tensions continued. Comex gold futures for December delivery fell 0.29% to $1,210.90 a troy ounce as of 10:40 AM ET (14:40 GMT). Investors remained cautious ahead of a upcoming deadline in Sino-U.S. trade disputes as a trade deal between the U.S. and Mexico was underway.
  • After years of restraint since crude prices slumped in 2014, oil services companies are now at loggerheads with producers as they battle for what they see as a fair share of the sector recovery. Oil industry suppliers say they have cut costs and prices to the bone and the recent rebound in crude justifies better rewards for anything from rigs to logistics and engineering services.
  • Copper prices have recovered from a recent rout, but the possibility of the trade dispute between the Washington and Beijing escalating and its potential to crimp demand in China, the world’s top consumer, is expected to cap gains. Benchmark copper on the London Metal Exchange at $6,100 has climbed nearly 6 percent since crashing to a 14-month low of $5,773 a ton on Aug. 15

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Argentina’s peso touched a record low 32 per U.S. dollar on Wednesday after President Mauricio Macri said his government had asked the International Monetary Fund for early release of funds from the country’s $50 billion standby deal. The currency has weakened more than 42 percent in 2018. Investors are concerned that with high inflation, a weak economy and fallout from a global selloff in emerging markets, Argentina may have problems meeting its debt obligation in 2019.
  • Talks to modernize a customs union agreement between Turkey and the European Union, which have been stalled, must start again, Turkish Foreign Minister Mevlut Cavusoglu said on Wednesday. Speaking at a news conference, Cavusoglu also said Turkey did not expect new chapters to be opened regarding its EU accession talks while Austria has the term presidency of the bloc.
  •  Financial centers outside the European Union would be the benefactors if the European Union sought to punish the City of London as Britain leaves the bloc, Brexit minister Dominic Raab said on Wednesday. Raab told a parliamentary committee he did not believe the EU would try to punish the London’s financial sector, but that if they did, “I think the only winners would be the other financial centers in the top 10 like Tokyo and New York.”

COMEX GOLD SIGNAL

 

29Aug

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

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INTERNATIONAL COMEX NEWS

  • Gold prices were lower on Tuesday, despite a weaker dollar, as trade tensions between the U.S. and China lingered. Comex gold futures for December delivery fell 0.16% to $1,214.10 a troy ounce as of 10:33 AM ET (14:33 GMT). The U.S. and Mexico reached a trade deal on Monday that would replace the North American Free Trade Agreement (NAFTA). U.S. Treasury Secretary Steve Mnuchin said on Tuesday he thinks the U.S. will also reach a deal with Canada this week.
  • Current U.S. sanctions on Iran are unlikely to stop Iranian oil exports completely, a long-time adviser at Saudi Arabia’s Energy Ministry said on Tuesday, adding Iran would be unable to close the straits of Hormuz and Bab al-Mandab even partially. Speaking at an oil conference in the Norwegian city of Stavanger, Ibrahim al-Muhanna said Iran would be the first to lose out on a move to block those major shipping routes and that any such action would trigger further sanctions on Iran.
  • When farmer Julimar Pansera purchased land in Brazil’s interior seven years ago, it was blanketed in tiers of fruit trees, twisted shrubs and the occasional palm standing tall in a thicket of undergrowth. He mowed down most of that vegetation, set it ablaze and started planting soybeans. Over the past decade, he and others in the region have deforested an area larger than South Korea.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • France’s top financial markets regulator Robert Ophele has applied to run the European Central Bank’s banking supervisory body, his office said on Tuesday. The ECB advertised last month for a successor to Daniele Nouy, who is French, when her five-year term as head of the Single Supervisory Mechanism (SSM) ends in December. Ophele was appointed head of the French financial markets authority last August after a long career at France’s central bank. When he was deputy governor of the Bank of France he sat on the board of the ECB’s Single Supervisory Mechanism.
  • Goldman Sachs Group Inc (NYSE:GS). is telling traders to be wary of reading Federal Reserve Chairman Jerome Powell’s comments last week as dovish for the path of interest rates. Ten-year Treasury yields fell Friday on Powell’s speech at the Kansas City Fed’s annual policy symposium, when he said “there does not seem to be an elevated risk of overheating.” What’s more, the maturity’s spread over two-year yields is close to the lowest since 2007.
  • Nearly three out of four companies doing business in Germany and the United States doubt that a U.S.-European trade truce reached last month will be followed by a lasting agreement on large-scale tariff cuts, a survey showed on Tuesday. U.S. President Donald Trump agreed during a meeting with European Commission President Jean-Claude Juncker in July to refrain from imposing tariffs on European cars while the two sides negotiate to cut other tariffs.COMEX GOLD SIGNAL
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