Comex Market

10Oct

Comex Commodity Trading Signals and Market News – 10 October 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices held nearly steady in Asia on Friday as investors weighed the prospects for a Federal Reserve rate hike in the coming year. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,224.40a troy ounce, down 0.02%, after hitting an overnight session low of $1,219.40 and off a high of $1,233.70. Gold prices firmed on the news, as the yellow metal has taken a pounding in recent sessions on speculation that interest rates were to set to rise sooner rather than later in 2015.

Natural gas prices edged lower on Thursday after weather-forecasting models called for seasonably mild temperatures to hold across much of the U.S., which should curb demand for both air conditioning and heating. On the New York Mercantile Exchange, natural gas futures for delivery in November were down 0.56% at $3.834 per million British thermal units during U.S. trading. The commodity hit a session low of $3.816, and a high of $3.940. The November contract settled down 2.58% on Wednesday to end at $3.855 per million British thermal units. Natural gas futures were likely to find support at $3.786 per million British thermal units, the low from Sept. 12, and resistance at $4.184, the high from Oct. 1.

Crude oil prices eased in early Asia on Friday as investors awaited fresh cues on demand prospects. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded at $84.69 a barrel, down 0.08%, after hitting an overnight session low of $86.25 a barrel and a high of $87.94 a barrel. Overnight, better-than-expected weekly U.S. claims numbers weakened oil prices on Thursday by strengthening the dollar. The U.S. Department of Labor reported earlier that the number of individuals filing for initial jobless benefits in the week ending Oct. 4 fell by 1,000 to 287,000 from the previous week’s revised total of 288,000.

Copper futures edged lower during European morning trade on Wednesday, as worries about the strength of global growth drove down prices. On the Comex division of the New York Mercantile Exchange, copper for December delivery traded at $3.025 a pound during European morning hours, down 1.4 cents, or 0.45%. A day earlier, copper prices tacked on 0.3 cents, or 0.12%, to settle at $3.039. Futures were likely to find support at $2.991, the low from October 6, and resistance at $3.049, the high from October 1.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1225 TGT 1229,1235 SL 1220
  • SELL GOLD BELOW 1217 TGT 1213,1208 SL 1222

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

9Oct

Comex Commodity Trading Signals and Market News – 09 October 2014

INTERNATIONAL COMMODITY NEWS :

Crude oil rices rebounded in early Asia on Thursday with investors buying off recent sharp dips even as the growth outlook and demand remains uncertain. On the New York Mercantile Exchange, crude oil for delivery in November traded at $87.77 a barrel, up 0.22%. Overnight, U.S. oil futures dropped to the lowest level since April 2013 after data showed that U.S. stockpiles rose far more than expected last week. Brent oil settled down 0.8% at $91.38 a barrel on ICE Futures Europe Wednesday, the lowest settlement price since June 28, 2012. The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories increased by 5 million barrels in the week ending October 3, compared to expectations for a gain of 1.6 million barrels. The report also showed that gasoline stockpiles rose by 1.2 million barrels, confounding expectations for a drop of 1.0 million barrels.

Gold prices eased in early Asia on Thursday as investors noted a weaker growth outlook and took profits from earlier in the U.S. session. On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,220.30 a troy ounce, down 0.16%. Overnight, gold futures rose for the third consecutive session as investors digested the Federal Reserve minutes. The Federal Reserve’s debate on its interest rate guidance heated up last month, with several officials showing concern about misleading investors and pushing for a more data-dependent approach, according to minutes from its last policy meeting.

• U.S. natural gas futures were under pressure during early U.S. trade on Wednesday, as market players monitored near-term weather forecasts to gauge the strength of demand for the fuel ahead of Thursday’s closely-watched supply report. On the New York Mercantile Exchange, natural gas for delivery in November traded at $3.896 per million British thermal units during U.S. morning hours, down 6.1 cents, or 1.55%. Natural gas prices fell to a two- week low of $3.866 on Tuesday, before turning higher to settle $3.957, up 5.9 cents, or 1.51%.

• U.S. oil futures droppes to the lowest level since April 2013 on Wednesday, after data showed that U.S. stockpiles rose far more than expected last week. On the New York Mercantile Exchange, crude oil for delivery in November hit a session low of $86.86 a barrel, a level not seen since April 18, 2013.Prices recovered to last trade at $87.09 a barrel during U.S. morning hours, down $1.78, or 1.98%. A day earlier, Nymex oil futures lost $1.49, or 1.65%, to settle at $88.85, as worries about the strength of global growth drove prices lower.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1225 TGT 1229,1235 SL 1220
  • SELL GOLD BELOW 1220 TGT 1216,1211 SL 1225

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

8Oct

Comex Commodity Trading Signals and Market News – 08 October 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices rose slightly in Asia on Wednesday in a rebound from overnight and expected demand as holidays ramp up demand and China markets re-opening after a week-long holiday. On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,210.20, up 0.03%. Overnight, gold futures swung between small gains and losses. Market players also looked ahead to the release of minutes from the Fed’s September meeting on Wednesday, after upbeat U.S. employment data last week underlined optimism over the strength of the economy and fueled expectations that the central bank will begin to raise rates sooner and faster than previously thought. Expectations of higher borrowing rates going forward is considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise.

• U.S. natural gas futures traded near a two-week low during U.S. morning trade on Tuesday, as investors monitored near-term weather forecasts to gauge the strength of demand for the fuel. On the New York Mercantile Exchange, natural gas for delivery in November fell to a session low of $3.869 per million British thermal units, a level not seen since September 24.Prices recovered to last trade at $3.911 during U.S. morning hours, up 1.3 cents, or 0.32%.A day earlier, natural gas prices plunged 14.1 cents, or 3.49%, to settle at $3.898.

Crude oil futures extended losses during U.S. morning hours on Tuesday, after the International Monetary Fund cut its forecast for global economic growth this year. On the ICE Futures Exchange in London, Brent oil for November delivery shed 49 cents, or 0.53%, to trade at $92.30 a barrel. London-traded Brent futures fell to $91.25 on Monday, the lowest since June 2012, amid speculation rising global supplies will be more than enough to meet slowing demand. The IMF downgraded its global growth forecast for both this year and next, due to stagnation in Europe and a weaker-than-forecast recovery in Japan. The agency now sees 2014 global growth of 3.3% and 2015 growth of 3.8%, a decline of 0.1% for 2014 and 0.2% for 2015 from forecasts made in July. Elsewhere, on the New York Mercantile Exchange, crude oil for delivery in November traded at $90.20 a barrel, down 14 cents, or 0.15%. Market players awaited the release of fresh weekly information on U.S. stockpiles of crude and refined products to gauge the strength of demand in the world’s largest oil consumer.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1215 TGT 1219,1223 SL 1210
  • SELL GOLD BELOW 1210 TGT 1206,1201 SL 1215

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

7Oct

Comex Commodity Trading Signals and Market News – 07 October 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices eased in Asia on Tuesday, continuing a weak trend as expectations grow for a rate hike by the Federal Reserve next year. On the Comex division of the New York Mercantile Exchange, Gold for December delivery traded at $1,206.70, down 0.10%. Overnight, gold futures inched higher, but held below the key $1,200-level as upbeat U.S. employment data underlined optimism over the strength of the economy and fueled expectations that the Federal Reserve will begin to raise rates sooner than previously thought.

Brent oil futures fell to a 27-month low during U.S. morning trade on Monday, amid ongoing speculation rising global supplies will be more than enough to meet slowing demand. On the ICE Futures Exchange in London, Brent oil for November delivery hit a session low of $91.27 a barrel, a level not seen since June 2012.Prices recovered to last trade at $91.44 during U.S. morning hours, down 88 cents, or 0.95%, from Friday’s closing price of $92.31.

• U.S. natural gas futures gave back all of the previous session’s strong gains during U.S. morning trade on Monday, as market players positioned themselves for a bearish weekly storage report later in the week. On the New York Mercantile Exchange, natural gas for delivery in November traded at $3.921 per million British thermal units during U.S. morning hours, down 11.8 cents, or 2.92%. Natural gas prices hit a session low of $3.900 earlier in the day, a level not seen since September 25.U.S. gas futures surged 10.7 cents, or 2.72%, on Friday to settle at $4.039 as market players wagered that cold weather across the U.S. will boost demand for heating.

Copper futures edged higher during European morning trade on Monday, as the greenback took a breather from its recent rally against a basket of other major currencies sparked by upbeat U.S. employment data. On the Comex division of the New York Mercantile Exchange, copper for December delivery traded at $3.015 a pound during European morning hours, up 1.6 cents, or 0.54%, from a closing price of $2.998 on Friday.Futures were likely to find support at $2.985, the low from October 2, and resistance at $3.039, the high from October 2.

Crude oil futures edged higher during European morning trade on Monday, but gains were limit amid speculation rising global supplies will be more than enough to meet slowing demand.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1208 TGT 1212,1217 SL 1203
  • SELL GOLD BELOW 1203 TGT 1199,1193 SL 1208

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

1Oct

Comex Commodity Trading Signals and Market News – 01 October 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices eased in Asia on Wednesday as investors continued to watch the dollar, which traded largely flat .On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,209.70 a troy ounce, up 0.09%, after hitting $1,210.30 a troy ounce during U.S. trading, down 0.70%. It hit a session low of $1,205.00 and off a high of $1,220.50. Overnight gold futures edged lower and threatened to post their first quarterly this year after soft European inflation data sparked demand for the U.S. dollar, which trades inversely with the yellow metal. Eurostat, the statistics arm of the European Union, reported earlier that the euro area’s annual inflation rate fell to a five-year low of 0.3% in September from 0.4% in August. Core inflation, which strips out food, energy, alcohol and tobacco costs, came in at 0.7%, down from 0.9% in August.

Natural gas prices fell on Tuesday after updated weather-forecasting models called for mild temperatures in the U.S. to offset the bullish pressures seen coming from a cool snap affecting portions of the central and northeastern reaches of the country . On the New York Mercantile Exchange, natural gas futures for delivery in November were down 0.77% at $4.122 per million British thermal units during U.S. trading. The commodity hit a session low of $4.100, and a high of $4.174.The November contract settled up 3.10% on Monday to end at $4.154 per million British thermal units. Natural gas futures were likely to find support at $4.011 per million British thermal units, Monday’s low, and resistance at $4.174, the session high.

Copper futures edged lower on Tuesday, as weaker than expected Chinese manufacturing data added to concerns over the health of the world’s second largest economy. On the Comex division of the New York Mercantile Exchange, copper or December delivery traded at $3.044 a pound during European morning hours, down 1.2 cents from $3.056 on Monday. Futures were likely to find support at $3.012, the low from September 29 and resistance at $3.067, the high from September 29.

Crude oil prices eased in Asia on Tuesday with investors looking ahead to weekly industry and government reports on U.S. crude oil stockpiles expected to be bearish. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded at $94.31 a barrel, down 0.21%, after hitting an overnight session low of $92.75 a barrel and a high of $94.63 a bar.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1210 TGT 1214,1219 SL 1205
  • SELL GOLD BELOW 1203 TGT 1199,1194 SL 1208

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

30Sep

Comex Commodity Trading Signals and Market News – 30 September 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices dipped in Asia on Tuesday with civil unrest in Hong Kong a continued focus as is data from China on manufacturing. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,215.90 a troy ounce, down 0.04%, after hitting an overnight session low of $1,215.90 and off a high of $1,223.90.In China, HSBC/Market is due to release the final reading of their September PMI at 0945 local (0145 GMT). The flash reading, released last week, showed a surprise uptick to 50.5 from August’s final 50.2, helping lift sentiment. Overnight, gold futures came off earlier highs in trading after the dollar recovered from mixed U.S. Data.

• Better-than-expected U.S. personal spending data coupled with news of refinery closures sent oil prices trading near session highs on Monday. In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded up 1.15% at $94.62 a barrel during U.S. trading. New York-traded oil futures hit a session low of $92.75 a barrel and a high of $94.63 a barrel.The November contract settled up 1.09% at $93.54 a barrel on Friday. Nymex oil futures were likely to find support at $90.41 a barrel, last Monday’s low, and resistance at $95.91 a barrel, the high from Sept. 2.

Natural gas prices rose on Monday after updated weather-forecasting models pointed to falling temperatures across the U.S., which should drive demand for heating in the country’s homes and businesses. On the New York Mercantile Exchange, natural gas futures for delivery in November were up 1.68% at $4.097 per million British thermal units during U.S. trading. The commodity hit a session low of $4.012, and a high of $4.098.The November contract settled up 0.37% on Friday to end at $4.029 per million British thermal units. Natural gas futures were likely to find support at $3.845 per million British thermal units, last Tuesday’s low, and resistance at $4.100, the high from Sept. 17.

Silver for December delivery rose 1.07% to $17.625 an ounce on Friday, paring the week’s losses to 0.83%. Silver prices hit lows of $17.27 an ounce on Thursday, their weakest since June 2010. Comex copper for December delivery eased up 0.27% to end at $3.038 a pound .Elsewhere in metals trading, NYMEX platinum futures for October delivery dropped 1.01% to $1,300.9 an ounce on Friday, the lowest level since October 2009.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1220 TGT 1224,129 SL 1215
  • SELL GOLD BELOW 1213 TGT 1209,1204 SL 1218.20

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

29Sep

Comex Commodity Trading Signals and Market News – 29 September 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices eased further in Asia on Monday as investors expect continued dollar strength on an expected Federal Reserve rate hike sometime next year. On the Comex, gold futures for December delivery traded at $1,217.80 a troy ounce, down 0.08%.Last week, gold futures ended close to their lowest levels of the year as the U.S. dollar notched up its eleventh consecutive week of gains, hitting investor demand for the precious metal. A stronger U.S. dollar usually weighs on gold, as it dampens the metal’s appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies.

Crude oil prices fell in ASia on Monday with the supply outlook prompting profit taking after last week’s gains on solid U.S. GDP data. Crude oil for delivery in November traded at $93.07 a barrel, down 0.34%, as investors took profits on last week’s gain. Last week, U.S. crude oil futures rose, boosted by expectations that accelerating economic growth would support demand, while Brent oil futures ended flat, narrowing the gap between the two contracts to the smallest in nearly a year. Brent oil for November delivery ended last week almost unchanged at $97.02 a barrel on the ICE Futures Exchange in London and ended the week down 1.07%.

Natural gas prices moved up and down on Friday after updated weather forecasting models called for mild temperatures in the coming days, which should curb demand for both air conditioning and heating. Trading was choppy, however, as longer-term models predicted significant cooling in the eastern U.S. later in October. On the New York Mercantile Exchange, natural gas futures for delivery in November were up 0.39% at $4.030 per million British thermal units during U.S. trading. The commodity hit a session low of $3.970, and a high of $4.034.The November contract settled up 1.24% on Thursday to end at $4.014 per million British thermal units.

Gold and the greenback tend to trade inversely with one another. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,224.00 a troy ounce during U.S. trading, up 0.37%, up from a session low of $1,207.40 and off a high of $1,225.10.The December contract settled down 0.20% at $1,219.50 on Wednesday.

RECOMMENDATION :

  • BUY GOLD ABOVE 1215 TGT 1211,1207 SL 1220
  • SELL GOLD BELOW 1222 TGT 1226,1231 SL 1207

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

26Sep

Comex Commodity Trading Signals and Market News – 26 September 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices rose in Asia on Friday in continued gains from overnight on political and economic uncertainty. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,222.80 a troy ounce, up 0.12% after hitting an overnight session low of $1,207.40 and off a high of $1,225.10.Overnight, gold futures rose as investors sought safety in the precious metal amid a global stock market meltdown, though prices moved in a whipsaw fashion thanks to hawkish comments out of the Federal Reserve that strengthened the dollar. Stock markets plunged on Thursday on news Russia may consider a proposal allowing Moscow to seize foreign assets, which spooked investors across the globe. A draft law, a response to Western sanctions slapped on the country for its alleged meddling in the Ukraine conflict, was sent to the Russian parliament Wednesday.

Crude oil prices rose in early Asia trade on Friday as political and economic uncertainty kept the commodity well bid. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded at $92.59 a barrel, up 0.06%, after hitting an overnight session low of $92.11 a barrel and a high of $93.54 a barrel. Brent oil rose 0.1% to $97 a barrel on ICE Futures Europe Thursday. Overnight, crude prices traded near session lows despite relatively solid U.S. data, as concerns the global economy is awash in oil watered down demand for the commodity. News Russia may consider a proposal allowing Moscow to seize foreign assets spooked investors across the globe.

Natural gas prices carried Wednesday’s gains into Thursday after updated weather-forecasting models continued to call for cooler temperatures to trek across the U.S. in October On the New York Mercantile Exchange, natural gas futures for delivery in November were up 0.32% at $3.978 per million British thermal units during U.S. trading. The commodity hit a session low of $3.886, and a high of $3.995.The November contract settled up 2.48% on Wednesday to end at $3.965 per million British thermal units. Natural gas futures were likely to find support at $3.845 per million British thermal units, Tuesday’s low, and resistance at $4.100, the high from Sept. 17.

Crude prices edged higher on Wednesday on the coattails of upbeat U.S. inventory data, though concerns the world is awash in oil at a time when global demand remains soft sent futures dipping into negative territory at times. In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded up 0.22% at $91.76 a barrel during U.S. trading. New York-traded oil futures hit a session low of $91.13 a barrel and a high of $92.11 a barrel.

RECOMMENDATION :

  • BUY GOLD ABOVE 1227 TGT 1231,1236 SL 1222
  • SELL GOLD BELOW 1220 TGT 1216,1211 SL 1225

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

25Sep

Comex Commodity Trading Signals and Market News – 25 September 2014

INTERNATIONAL COMMODITY NEWS :

Gold futures fell on Wednesday after the greenback advanced on news that far more new homes were sold in the U.S. last month than expected. Gold and the greenback tend to trade inversely with one another. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,217.60 a troy ounce during U.S. trading, down 0.36%, up from a session low of $1,216.30 and off a high of $1,226.70.The December contract settled up 0.34% at $1,222.20 on Tuesday. The Census Bureau reported earlier that U.S. new home sales data rose 18.0% last month to 504,000 units, far surpassing expectations for a 4.4% gain to 430,000 units.

Natural gas prices rose on Wednesday after updated weather-forecasting models called for warm weather in the near term and potentially chilly temperatures in October. On the New York Mercantile Exchange, natural gas futures for delivery in November were up 1.63% at $3.932 per million British thermal units during U.S. trading. The commodity hit a session low of $3.846, and a high of $3.936.The November contract settled down 1.00% on Tuesday to end at $3.869 per million British thermal units. Natural gas futures were likely to find support at $3.846 per million British thermal units, the session low, and resistance at $3.959, Tuesday’s high.

Crude prices edged higher on Wednesday on the coattails of upbeat U.S. inventory data, though concerns the world is awash in oil at a time when global demand remains soft sent futures dipping into negative territory at times. In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded up 0.22% at $91.76 a barrel during U.S. trading. New York-traded oil futures hit a session low of $91.13 a barrel and a high of $92.11 a barrel. The November contract settled up 0.76% at $91.56 a barrel on Tuesday.

Crude oil futures edged higher on Wednesday, but gains were expected to remain limited as ample supplies and weak economic data from the euro zone overshadowed geopolitical tensions in the Middle East. On the New York Mercantile Exchange, crude oil for delivery in November traded at $91.66 a barrel during European morning trade, up 0.10%.Prices gained 0.76% on Tuesday to settle at $91.56. Iraq and Nigeria are reportedly stepping up exports, adding more oil to the market, while output at Libya has rebounded as well.

RECOMMENDATION :

  • BUY GOLD ABOVE 1217 TGT 1221,1225 SL 1212
  • SELL GOLD BELOW 1210 TGT 1214,1218 SL 1205

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

24Sep

Comex Commodity Trading Signals and Market News – 24 September 2014

INTERNATIONAL COMMODITY NEWS :

Natural gas prices fell on Tuesday after updated weather-forecasting models scaled back on calls for colder temperatures dipping across the U.S., with milder temperatures seen reducing the need for air conditioning or heating. On the New York Mercantile Exchange, natural gas futures for delivery in November were down 0.87% at $3.874 per million British thermal units during U.S. trading. The commodity hit a session low of $3.866, and a high of $3.959.The November contract settled up 0.13% on Monday to end at $3.908 per million British thermal units.Natural gas futures were likely to find support at $3.864 per million British thermal units, Monday’s low, and resistance at $3.958, the session high.

Crude oil prices gained slightly in Asia on Wednesday after bullish industry data on U.S. stocks.The American Petroleum Institute showed a 6.5-million-barrel drop in crude stocks in the past week. The API also said gasoline supplies rose by 91,000 barrels, while distillate inventories rose by 3 million barrels.On the New York Mercantile Exchange, West Texas Intermediate Crude Oil for delivery in November traded at $91.64 a barrel, up 0.09%, after hitting an overnight session low of $90.66 a barrel and a high of $91.89 a barrel.Brent oil fell 12 cents, or 0.1%, to $96.85 a barrel on ICE Futures Europe on Monday. Overnight, crude prices jumped after data revealed Chinese factories have been busier this month than markets were expecting.China’s HSBC manufacturing index for September came in at 50.5, ahead of expectations for 50.0 and up from the final reading of 50.2 in August.

Gold prices fell in Asia on Wednesday on profit taking after solid overnight gains on a mix of a weaker dollar and geopolitical tension. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,222.90 a troy ounce, down 0.16%, after hitting an overnight session low of $1,214.70 and off a high of $1,235.60. Overnight, gold futures rose as investors sold the dollar for profits, while U.S.-led air strikes in Syria fueled safe-haven demand for the precious metal.Profit taking sent the dollar edging lower on Monday, wiping out a rally stemming from expectations for U.S. monetary policy to grow less accommodative at a time when European and Japanese monetary authorities take steps to loosen.Markit Economics reported earlier that its preliminary U.S.manufacturing purchasing managers’ index came in at 57.9 in September, unchanged from August and the highest since April 2010 though shy of market calls for a 58.0 reading, which allowed the dollar to take a break from its rally.

RECOMMENDATION :

  • BUY GOLD ABOVE 1225 TGT 1229,1233 SL 1220
  • SELL GOLD BELOW 1219 TGT 1215,1210 SL 1224

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

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