20Nov

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 slipped on Monday, while the dollar was subdued against its rivals after Federal Reserve officials cautioned on the global economy. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange edged down 0.3% to $1,219.1 a troy ounce by 1:20 AM ET (06:20 GMT). The U.S. dollar index that tracks the greenback against a basket of other currencies edged up 0.08% to 96.4.
  • Oil steadied on Monday, having gained in the previous three sessions from the prospect that top exporter Saudi Arabia will push OPEC and maybe Russia to cut supply towards the year-end. Brent crude futures were down 6 cents at $66.70 a barrel by 1243 GMT, while U.S. futures were up 3 cents at $56.49. The Organization of the Petroleum Exporting Countries, led by Saudi Arabia, is pushing for the group and its partners to reduce output by 1 million to 1.4 million barrels per day to prevent a build-up of unused fuel.
  • A Southeast Asian nation that was a bit player in the biofuel market is suddenly buying and selling unprecedented supplies. The U.S.-China trade war may have something to do with it. Malaysia has emerged to displace the U.S. as the biggest supplier of ethanol to China in just two months. It’s also the first time the Southeast Asian country is selling such significant volumes to the world’s top consumer.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • India’s central bank concluded a critical day-long board meeting, said a source familiar with the situation. It wasn’t immediately clear whether it had come to any conclusions in a dispute with the government over easing liquidity for the financial sector and increasing credit to small businesses. The government has been pressing the RBI to reduce capital ratios for banks, which would speed up loans to small businesses in remote parts of the country, a crucial vote bank for Prime Minister Narendra Modi. There are five key state elections in the next few weeks and a general election due by May.
  • Macedonia should seize on the prospect of faster EU integration to push ahead with reforms that will enable stronger economic growth, the International Monetary Fund said on Monday. Skopje’s agreement with Athens to change the country’s name to the Republic of North Macedonia is set to unblock its NATO and EU membership bids.
  • A potentially huge shift is underway in the U.S. bond market, underscored by a historic swing in hedge fund positions: investors are beginning to think the U.S. economy is close to peaking and the Fed is near the end of its rate-raising cycle. Speculators on U.S. futures markets slashed their bearish bets on 10-year Treasuries last week by the largest amount since April 2017, and the third largest since the Commodity Futures Trading Commission began compiling data in 1995.

COMEX GOLD SIGNAL

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