Daily Archives: February 14, 2018

14Feb

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

14feb1

14feb2

14feb4

INTERNATIONAL COMEX NEWS

  • Gold prices rose on Tuesday, as caution ahead of this week’s U.S. inflation data weighed on demand for the dollar. Comex gold futures were up 0.31% at $1,330.5 a troy ounce by 08:00 a.m. ET (12:00 GMT), the highest since February 7. Market participants were eyeing this week’s U.S. consumer price inflation data due on Wednesday and producer price inflation data on Thursday for further clues on how fast the Federal Reserve will raise interest rates this year
  • Norway’s finance ministry asked the central bank on Tuesday to explain what impact a potential listing of state oil giant Saudi Aramco would have on the benchmark equity index of the country’s $1 trillion sovereign wealth fund. The request was made as part of public consultations on Norges Bank’s proposal to drop the oil and gas sector from the fund’s investments in order to reduce the risk of oil-price fluctuations.
  • Crude oil prices slumped into correction — a 10% drop from their January highs — amid the turmoil that hit stocks over the past two weeks. But according to commodity strategists at RBC Capital Markets, investors would be wise not to ignore several risks that may drive prices even lower. Short of sounding “alarm bells” in their note on Tuesday, the strategists led by Michael Tran said pockets of the market are getting oversupplied again.

ECONOMY NEWS

  • Republicans in Congress are on a tear during the Donald Trump administration, ushering in big-spending and deficitballooning advancements in direct contrast to the Tea Party wave that reshaped the modern GOP. During the budget negotiations that resulted in brief shutdown last week, enraged conservatives blasted Republican leaders for championing a massive spending deal. “When Republicans, given power, are consistently growing government and adding to the debt, it’s time to stop saying they’re abandoning limited government principles,” wrote Philip Klein in the Washington Examiner. “The reality is, they do not actually have any limited government principles. Their priorities are lower taxes and higher military spending, and they are willing to accede to growth in entitlements and other government programs if that is what it takes to secure their first two goals.”
  • Federal Reserve Chair Jerome Powell, at a ceremonial swearing-in as head of the central bank, said on Tuesday the Fed would keep watching for financial stability risks and preserve “essential” improvements in financial regulation since the 2007-2009 crisis. Powell, speaking on the heels of a market rout that shaved 10 percent from the value of major U.S. stock indexes, said the Fed would “preserve the essential gains in financial regulation while seeking to ensure that our policies are as efficient as possible. We will remain alert to any developing risks to financial stability.”

14feb3

 

 

© Copyright 2013, All Rights Reserved, Epic Research Pvt. Ltd.