23Aug

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Gold prices were higher on Wednesday, as political uncertainty weighed on the U.S. dollar and investors looked ahead to meeting minutes from the Federal Reserve. Comex gold futures for December delivery rose 0.20% to a one-week high of $1,202.40 a troy ounce as of 10:25 AM ET (14:25 GMT). The minutes from the Fed’s latest policy meeting come out at 2:00 PM ET (18:00 GMT), which investors will look to for clues on future monetary policy.
  • After a knee-jerk reaction to the downside, West Texas Intermediate oil held onto solid gains in North American trade on Wednesday, as weekly data showed that oil supplies in the U.S. registered a much larger-than-expected draw, although gasoline stockpiles unexpectedly increased and distillate inventories rose more than expected. Crude oil for October delivery on the New York Mercantile Exchange rose $1.63, or 2.48%, to trade at $67.47 a barrel by 10:45 AM ET (15:45 GMT) compared to $67.27 ahead of the report.
  • China’s copper producers and traders are riding an unexpected surge of business that has pushed physical prices to their highest in nearly two years as fabricators rush to buy refined metal to avoid import tariffs on scrap that kick in on Thursday. The buying spree took off after Beijing announced two weeks ago it would hit $16 billion worth of U.S. imports, including scrap metal, with duties of 25 percent from Aug.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Agreement between Mexico and the United States on outstanding bilateral issues in the renegotiation of the North American Free Trade Agreement could be just a few hours away, Mexican officials said on Wednesday. “We hope that we’ll have a solution in the next couple of hours, or the next couple of days,” Mexican Economy Minister Ildefonso Guajardo told reporters before entering the offices of U.S. Trade Representative Robert Lighthizer for NAFTA talks.
  • Israel’s central bank on Wednesday criticized a government plan to sharply boost defense spending, saying it would come at the expense of civilian spending and probably increase the budget deficit and state’s debt burden. Prime Minister Benjamin Netanyahu told ministers last week that to meet expected threats in the coming decade, he intends to increase defense spending by 0.2 to 0.3 percent of gross domestic product under the “2030 Security Concept”.
  • The natural state of a capitalist economy is expansion. Recessions occur when “something breaks” rather than an expansion simply dying of old age. Unfortunately, central banks have a history of pumping the brakes for too long and too hard when attempting to contain growth and inflation and are often the cause of a recession.

COMEX GOLD SIGNAL

22Aug

Singapore’s crypto wallet firm X Infinity brings $20.5m up in private deal

Singapore’s Crypto: Singapore-based fintech organization X Infinity has brought $20.5 million up in a private deal round, surpassing its $18 million focus, to make a digital money wallet for taking care of exchanges universally, the organization reported. The organization is getting ready to dispatch a physical charge card by the final quarter of 2018, which will supplement the exchanges. The card will have the capacity to execute at all major worldwide ATMs and outlets. With more than 800 digital forms of money in the market, X Infinity tries to set up a stage where blockchain resources can be executed in a safe, constant way.

The preparing time on the X Infinity wallet is just about a second, far swifter than alternate models, for example, bitcoin which typically takes 78 minutes while Ethereum takes seven minutes, said X Infinity CEO Eddie Chong, in an announcement. On August 8, X Infinity additionally propelled its underlying coin offering with plans to utilize the returns for creating innovation and for business development. The organization has beforehand raised a blessed messenger round of $6 million. Going ahead, X Infinity intends to get recorded on no less than three noteworthy cryptographic money trades.

22Aug

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Gold prices rose on Tuesday as the dollar softens after U.S. President Donald Trump said he is “not thrilled” with the Federal Reserve’s decision to raise interest rates. Gold Futures for December delivery gained 0.6% to $1,201.9 per troy ounce at 1:40AM ET (05:40 GMT) on the Comex division of the New York Mercantile Exchange. Gold futures ended last week down 2.86%, the largest weekly decline since early May 2017, after hitting $1,176.20 last Thursday, the lowest level since early January 2017.
  • Oil prices held firm on Tuesday, with U.S. fuel markets seen to be tightening, although the release of crude from the American strategic reserve somewhat offset an expected supply cut due to upcoming sanctions against Iran. Frontmonth U.S. West Texas Intermediate (WTI) crude futures (CLc1) were up 30 cents, or 0.45 percent, at 0651 GMT, at $66.73 per barrel. The contract expires on Tuesday.
  • Metals prices continued to recover, led by a rise in the Chinese yuan on reports the U.S. and China were looking to resolve their tit-for-tat trade war as soon as November. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose by $10.40, or 0.88%, to $1,194.60 troy ounce. The bright start to the week for gold prices comes as a rising CNY/USD pointed to signs of optimism for positive progress on “low-level” trade talks between the United States and China due this week.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • The Trump administration on Tuesday proposed replacing the Clean Power Plan, the centerpiece of former President Barack Obama’s regulatory efforts to combat climate change. The proposal released by the Environmental Protection Agency is now open for a public comment period. A final EPA rule is expected later this year.
  • Prime Minister Alexis Tsipras hailed the end of a “modern-day Odyssey” on Tuesday after Greece emerged from nine years of bailouts, saying it should never forget the harsh lessons learned under tight financial supervision by its creditors. “This is a day of liberation,” Tsipras declared, standing on a hilltop overlooking a bay on the Ionian island of Ithaca. His decision to give a post-bailout speech on the island was laden with classical symbolism: in Homer’s epic poem The Odyssey, Odysseus, the King of Ithaca, returned home from the Trojan war after a 10-year voyage lost at sea.
  • After lying low on the Riviera through the summer break following a scandal over his bodyguard that has rocked his presidency, Emmanuel Macron embarks this week on the next wave of deep reform to France’s economy and institutions. Lawmakers from the ruling Republic on the Move party promise a resumption of the breakneck pace of legislation that saw Macron’s government rewrite labor laws, overhaul the state-run SNCF railways and revamp the tax code in its first 15 months.

COMEX GOLD SIGNAL

21Aug

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 is hitting new milestones of misery. Exchange-traded funds tracking the metal have bled assets for 13 consecutive weeks, the longest run in five years, investors have placed the biggest gold short on record, and bullion’s chief foe — a strong dollar — is extending its market grip. Gold’s 9 percent tumble this year belies the turmoil in emerging markets and jitters over technology companies, the anchor of the U.S. equity bull market.
  • Base metals rebounded, pushing copper back above $6,000 a metric ton, on easing trade tensions between the U.S. and China, and signs of stronger demand. Copper for three-month delivery rose 1.6 percent to $6,020 per ton as of 10:54 a.m. on the London Metal Exchange. Most other metals were also higher, with aluminum adding 2.3 percent. Copper prices extended gains on Monday after data showed orders to withdraw metal from LME warehouses increased by the most in three years.
  • Brent oil stabilized near $72 per barrel on Monday after several weeks of decline, weighed down by concerns over slowing global economic growth but supported by an expected fall in supply from Iran due to U.S. sanctions. Brent crude futures, a benchmark for international oil prices, were at $72.08 per barrel at 1336 GMT, up 25 cents. U.S. West Texas Intermediate (WTI) crude futures were up 6 cents at $65.96 per barrel.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • A broad cross-section of U.S. businesses has a message for the Trump administration: new tariffs on $200 billion of Chinese imports will force Americans to pay more for items they use throughout their daily lives, from cradles to coffins. Six days of public hearings on the proposed duties of up to 25 percent will start on Monday in Washington as part of President Donald Trump’s and the U.S. Trade Representative’s efforts to pressure Beijing for sweeping changes to its trade and economic policies.
  • Venezuela President Nicolas Maduro carried out one of the greatest currency devaluations in history over the weekend — a 95 percent plunge that will test the capacity of an already beleaguered population to stomach even more pain. One likely outcome is that inflation, which already was forecast to reach 1 million percent this year, will get fresh fuel from the measures. Prices are currently rising at an annualized rate of 108,000 percent, according to Bloomberg’s Café con Leche index.
  • Italian Deputy Prime Minister Matteo Salvini said on Monday the government will stand up any against market attacks or debt downgrades that may come its way. Italian stocks and bonds have repeatedly come under pressure since the anti-establishment coalition of the right-wing League, led by Salvini, and the 5-Star Movement took office in June.

GOLD TRADING FORECAST TODAY

20Aug

Singapore Stock Watch: Singapore VC FengHe Fund backs $4m Series An in child rearing application Bosco

Singapore Stock Watch: Bosco, an AI-controlled child rearing application that predicts and avoids dangers to kids, has brought $4 million up in a Series A financing round co-driven by Singapore-based investment firm FengHe Fund Management and London-based venture firm Arie Capital. Established in 2015, the Israel-based Bosco said its application gathers information from kids’ versatile movement, area, and interpersonal organizations to fabricate a “one of a kind social profile” for every tyke. “Children today get many instant messages and photographs, every day. While the majority of the substance is normally innocuous, it’s that one improper photograph or message that could inconvenience kids or their companions. Also, guardians need to think about it,” the firm said.

The application screens a tyke’s cell phone movement, including connections via web-based networking media, changes in online devotees and companions, changes in the tyke’s every day standard, low battery, hostile message, unseemly substance, obscure guest, and even the kid’s tone amid telephone calls. When it sees indications of misery in view of its checking, the application instantly sends alarms to guardians. “Our capacity computerized reasoning consolidates and breaks down the information, giving guardians brilliant and individual experiences right when they matter most,” Bosco said on its site. In an announcement, the organization said it will utilize the returns from the most recent subsidizing round for innovative work, promoting, and worldwide extension The application’s engineer, Israeli business person Enon Landenberg said the application was named after St. John Bosco, the benefactor holy person of kids. Landenberg is the originator of sFBI, a wander manufacturer that dispatches organizations around human-focused development. He was likewise fellow benefactor and overseeing accomplice of E-Dologic, Israel’s first intelligent publicizing office, which was established in 1999. FengHe Group, the co-drove financial specialist in Bosco’s Series A subsidizing round, has so far made six ventures since 2014. Its portfolio incorporates Luxola, ViSenze, Shenzhen Rui Medical, DaoCloud, and RedDoorz.

20Aug

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Gold prices Friday were set to post their biggest weekly slump since April last year as fears over a slowdown in China and a stronger dollar wreaked havoc in metals earlier this week. Gold futures for August delivery on the Comex division of the New York Mercantile Exchange rose by $0.40, or 0.08%, to $1,184.80 troy ounce. The rise in gold prices Friday arrived as the dollar gave up some of its earlier-week gains to trade roughly flat on the week.
  • WTI crude oil prices ended lower for a third-straight week, despite settling higher Friday amid reports the U.S. and China are mapping out plans to resolve their trade war later this year. On the New York Mercantile Exchange crude futures for September delivery rose 45 cents settle at $65.91 a barrel, while on London’s Intercontinental Exchange, Brent rose 0.63% to trade at $71.88 barrel.
  • The U.S. Trade Representative’s office said on Friday it doubled the length of tariff hearings on the next $200 billion worth of Chinese goods to six days from the previously planned three due to overwhelming demand from companies to testify. The hearings will be held Aug. 20-24 and on Aug. 27, from 9:30 a.m. to 6 p.m. EDT (1330-2200 GMT), the USTR said in a statement.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Mexico’s economy minister Ildefonso Guajardo said on Friday he hopes to conclude by the middle of next week outstanding bilateral issues with the United States surrounding the renegotiation of the North American Free Trade Agreement (NAFTA). “Hopefully we will be able to close up no later than the middle of the week,” Guajardo told reporters outside the U.S.
  • The U.S. and Mexico are resolving their differences on agricultural products covered under Nafta after the Trump administration withdrew some of its sweeping demands, bringing the nations closer to an overall deal, according to five people familiar with the discussions. American negotiators dropped their demand in the last week to erect barriers against seasonal imports of a wide variety of Mexican farm goods, according to the people, who asked not to be named discussing private negotiations.
  • The United Nations Human Rights Committee has asked Brazil to guarantee the political rights of jailed former president Luiz Inacio Lula da Silva, prompting a swift response by Brazil’s foreign ministry pointing out the recommendation had no legal significance. In a statement posted on its website on Friday, the UN Human Rights Committee said it has “requested Brazil to take all necessary measures to ensure that Lula can enjoy and exercise his political rights while in prison, as candidate in the 2018 presidential elections.”

COMEX GOLD SIGNAL

17Aug

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 dropped on Thursday while the U.S. dollar also slid despite higher demand in safe-haven assets amidst the Turkish lira crisis. Gold Futures for December delivery went down by 0.48% to $1,179.2 per troy ounce at 12:02AM ET (04:02 GMT) on the Comex division of the New York Mercantile Exchange. The U.S. dollar index that tracks the greenback against a basket of six other currencies also pulled back to 96.36, down by 0.24% after hitting a 13-month high in the previous session.
  • U.S. crude prices plunged further on Wednesday, hitting an eight-week low after data showed that U.S. oil stockpiles rose unexpectedly last week. West Texas Intermediate crude was down $1.73, or roughly 2.5%, at $65.36 a barrel on the New York Mercantile Exchange by 10:33AM ET. It was the lowest level since June 21. Prices were at around $65.86 prior to the release of the inventory data.
  • Oil prices were mixed on Thursday as data from the Energy Informational Administration (EIA) showed the U.S. crude inventory level unexpectedly hiked by 6.8 million barrels in the week ending Aug 10. Analysts previously forecasted stockpiles would fall by 2.5 million barrels.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Lebanese banks are pulling out the stops to bring in dollars as the country strives to preserve a two-decade old currency peg, offering high returns to customers willing to change their hard currency into long-term Lebanese pound deposits. It is one sign of Lebanon’s determination to maintain monetary stability as political leaders’ warnings of economic crisis have fueled rumors that have led the central bank to issue repeated assurances about the peg’s soundness.
  • Swept along by super-easy money, investors have debated for years how world markets will react when this central bank largesse inevitably ends. Now the liquidity tide is about to turn, and they have only a few months to adjust. The world’s four biggest central banks – the U.S. Federal Reserve, European Central Bank, Bank of Japan and the Bank of England – have pumped around $13 trillion into the global economy since the crisis year of 2009, sharply expanding their own balance sheets of financial assets.
  • Last year, Abbey Jones’ high school routine had a twist. For 45 minutes each week, she became one of 15 student tellers at the Community Spirit Bank branch at Red Bay High School in Red Bay, Alabama. Her job? To handle her peers’ transactions and market the bank’s student-specific accounts. Community Spirit has used a digital platform to teach Red Bay students financial concepts for roughly five years.

GOLD TRADING FORECAST TODAY

 

16Aug

Singapore Stocks Watch: Singapore shares end bring down on Thursday

Offer costs in the Singapore bourse shut lower on Thursday, with the key Straits Times Index down 22.19 focuses, or 0.7 for each penny, to 3,211.93.

Around 1.52 billion offers worth S$1.05 billion altogether changed hands, which worked out to a normal unit cost of S$0.69 per share. Failures dwarfed gainers 256 to 158.

The most effectively exchanged stock was Oceanus Group, which shut unaltered at 0.5 Singapore penny with 79.4 million offers evolving hands. Different actives included Yangzijiang Shipbuilding and Thai Beverage.

Singapore Stocks Watch: ASL Marine, Aspial, CFM, Heeton, KSH, Vibrant, Stratech

THE accompanying organizations saw new improvements which may influence exchanging of their offers on Thursday:

ASL Marine: The shipbuilder and vessel charterer on Wednesday night said it hopes to report a net misfortune for the final quarter and entire year finished June 30, in results to be discharged on Aug 29. The normal misfortune is principally because of powerless commitment from the shipbuilding section and hindrance misfortunes, it said.

Aspial Corp: The gems and property organization declared on Thursday morning an obligation buyback program to repurchase up to S$10 million of a remarkable S$74 million of 5.5 for every penny notes due in November.

CFM Holdings: The metal-stamping firm hopes to record a net misfortune after expense for its 2018 monetary year due predominantly to arrangement for suit charges and terrible obligations discounted. It expects anyway that net misfortune after expense for 2018 to be essentially lower than the net misfortune after duty for the monetary year finished June 30, 2017.

Heeton Holdings and KSH Holdings: The organizations have together obtained the Smile Hotel Asakusa in Tokyo, Japan, they said on Wednesday night. Heeton will have a 70 for every penny stake and KSH 30 for each penny in the obtaining, which is the couple’s second lodging property in Japan. The obtaining total was not revealed.

Energetic Group: The organization on Wednesday night said an engine vehicle transporting certain bookkeeping records of a unit of backup Blackgold International Holdings burst into flames almost a coal mine in China on Aug 9. The fire is suspected to be a ponder demonstration to wreck records and occurred about multi month after the gathering declared that its evaluators have discovered bookkeeping abnormalities in specific units of Blackgold, said Vibrant.

Stratech: The reconnaissance tech firm on Wednesday said it has consented to put out a possible 58.4 for each penny stake in itself to a private value speculator for US$20 million and to change over about S$8.75 million of credits into shares.

16Aug

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Gold prices recovered from an 18-month low on Tuesday, as the U.S. dollar softened, . Comex gold futures for August delivery rose 0.47% to $1,204.50 a troy ounce as of 10:37 AM ET (14:37 GMT). Gold fell to an 18-month low on Monday, after economic turmoil in Turkey caused the Turkish lira to plunge to an all-time low of 7.1289. The lira recovered on Tuesday, breaking a 5-day losing streak after the country’s central bank pledged to provide liquidity in response to a meltdown that led to a global sell-off in equities.
  • Prices for U.S. farm exports dropped in July by the most in more than six years as a trade war with China heated up, Labor Department figures showed Tuesday. Agricultural export prices fell 5.3 percent from the prior month, the biggest drop since October 2011, as soybean prices plummeted 14.1 percent. Export prices for corn, wheat, fruits and nuts also slumped in July. The overall export price index dropped 0.5 percent, the most since May 2017, the department said.
  • Oil prices rose on Tuesday after reports revealed that top exporter Saudi Arabia cut production one month after it agreed the Organization of the Petroleum Exporting Countries (OPEC) to produce more crude. Meanwhile, OPEC remains positive on overall demand. Brent Oil Futures for October delivery went up 0.30% to $72.83 per barrel at 1:00AM ET (05:00 GMT), while Crude Oil WTI Futures for September delivery also edged upwards by 0.45% to $67.50 per barrel.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • A planned budget for the euro zone could be integrated into the broader spending funds of the European Union, Chancellor Angela Merkel said on Tuesday, adding she sees no immediate need for a finance minister for the currency bloc. Speaking to residents of the eastern city of Jena during a “town hall” meeting, Merkel repeated her support for an agreement reached with France in June to boost investments and strengthen economic convergence in the euro zone.
  • Major Tesla Inc (O:TSLA) shareholder, Fidelity Investments, cut its stake in the electric automaker by 21 percent during the second quarter, before Chief Executive Elon Musk announced his plan to take the company private earlier this month. FMR LLC, the Boston-based manager of the Fidelity funds, sold 3 million shares, or a fifth of its stake, and held under 11.2 million shares by June 30, it said in a filing with the U.S. Securities and Exchange Commission (SEC) late on Friday.
  • The Turkish lira crisis is far from over. The country is potentially heading into a balance-of-payments crisis, according to UBS. President Tayyip Erdogan has made multiple speeches showing that he does not understand basic economics. Without a sharp rise in interest rates, which Erdogan opposes, Turkey may have to restrict cash withdrawals from banks or get a bailout from the IMF.

COMEX GOLD SIGNAL

14Aug

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 traded lower on Monday, with spot prices hitting a 17-month low, as concerns over the crisis in Turkey sent investors flocking to the dollar, dampening demand for the precious metal. At 4:19 AM ET (8:19 GMT), spot gold fell $6.60, or 0.54%, to $1,204.81, just off an intraday low of $1,203.83, its lowest level since March 2017. Meanwhile, gold futures for December delivery on the Comex division of the New York Mercantile Exchange lost $7.00, or 0.57%, to $1,212.00 a troy ounce.
  • A vessel carrying U.S. soybeans was unloading its cargo worth at least $23 million at the Chinese port of Dalian on Monday, becoming one of the first shipments to incur hefty new import duties as the trade row deepens between Beijing and Washington. The docking of the vessel after five weeks anchored off China’s coast ended long-running speculation over the fate of the cargo, which had captured public attention.
  • OPEC on Monday forecast lower demand for its crude next year as rivals pump more and said top oil exporter Saudi Arabia, eager to avoid a return of oversupply, had cut production. In a monthly report, the Organization of the Petroleum Exporting Countries said the world will need 32.05 million barrels per day (bpd) of crude from its 15 members in 2019, down 130,000 bpd from last month’s forecast.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Having sunk to 13-month lows, sterling could fall by up to another 10 percent in the coming months should Britain crash out of the European Union without a deal on future trade ties, luring more speculators to bet against the currency. Sterling lost almost two percent last week just as British holidaymakers were heading off for some overseas sun . The latest move lower was kickstarted by trade minister Liam Fox’s warning that, with Britain less than eight months from its scheduled EU departure date in March, there was a 60 percent chance of leaving without a deal.
  • President Tayyip Erdogan said on Monday he expected attacks on Turkey’s economy to continue but predicted the lira would return to “rational levels” soon, after the Turkish currency hit a record low of more than 7 to the U.S. dollar. Erdogan, who has described the lira’s fall as the consequence of a plot rather than economic fundamentals, also said that spreading false news about the economy was treason and recent U.S. actions were a stab in the back against Ankara.
  • The Kremlin said on Monday that Russia favored bilateral trade with all countries in their national currencies, rather than the dollar, but that the idea needed detailed work before being implemented. Turkish President Tayyip Erdogan said on Saturday Turkey was preparing to conduct trade through national currencies with China, Russia and Ukraine.

GOLD TRADING FORECAST TODAY

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