Comex Signals

23Sep
gold-bars

Comex Trading Signals and Market News – 23 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Gold futures struggled for direction in subdued trade on Tuesday, as expectations for a Federal Reserve rate hike later this year weighed.Gold for December delivery on the Comex division of the New York Mercantile Exchange inched up $1.40, or 0.12%, to trade at $1,134.20 a troy ounce during European morning hours.
  • Copper futures re-approached a two-week low on Tuesday, as investors looked ahead to key Chinese manufacturing data later in the week for a fresh indication on the strength of the world’s second largest economy. A day earlier, copper fell to $2.362, the lowest level since September 8, before turning higher to end up 0.2 cents, or 0.1%, at $2.388.
  • U.S. natural gas prices struggled near the lowest level in almost five months on Tuesday, as forecasts for warm weather across key consumption regions of the U.S. in the week ahead dampened demand expectations for the fuel. Natural gas for delivery in October on the New York Mercantile Exchange inched up 0.7 cents, or 0.29%, to trade at $2.580 per million British thermal units during U.S. morning hours.

ECONOMY NEWS :

  • Upper middle-class shoppers spooked by a whipsawing stock market and shoppers waiting till the last minute for the best deals could result in the weakest U.S. holiday sales season for retailers since the recession, AlixPartners said. “A lot of the ingredients that drive retail revenue…aren’t there,” he said pointing to slow U.S. economic growth, low inflation and population growth.
  • Greek Prime Minister Alexis Tsipras appointed two respected bailout negotiators to head his economic team on Tuesday, moving to assure wary European partners that the new government will not backtrack on its cash-for-reform deal.
  • Bond fund giant Pacific Investment Management Co said on Tuesday the pace of Federal Reserve interest-rate increases is likely to be even more gradual than the firm expected in March and that the U.S. central bank may find it impossible to escape the effective lower bound of policy rates.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1126 TARGET 1131 1137 SL 1120
  • SELL GOLD BELOW 1120 TARGET 1115 1109 SL 1126

For more information about Commodity Market Trading or Commodity Trading Signals, Please visit- EPIC RESEARCH MALAYSIA.

22Sep
gold-bars

Comex Trading Signals and Market News – 22 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Gold futures traded near the highest level in nearly three weeks on Monday, as the Federal Reserve’s decision not to hike interest rates boosted demand for the precious metal.Gold for December delivery on the Comex division of the New York Mercantile Exchange inched up $1.10, or 0.1%, to trade at $1,138.90 a troy ounce during European morning hours.
  • Copper futures edged higher on Monday, as investors turned their attention to an index of manufacturing activity from China due later in the week for a fresh indication on the strength of the global economy.
  • Oil rose by more than 1 percent on Monday after data showed U.S. drilling slowed and a report said $1.5 trillion worth of planned production was uneconomic at current prices.Crude has halved in value over the last year as soaring global production overwhelmed slowing demand and the much lower prices have now begun to hit drilling, particularly in the United States.

ECONOMY NEWS :

  • Greece’s Alexis Tsipras said his left-wing Syriza party now has a “clear mandate” after a winning a sweeping re-election victory on Sunday, for the second time in less than nine months. The previous Syriza-led coalition government was elected in January on an anti-austerity mandate, but was forced to accept tough conditions for Greece’s third international bailout.
  • The former owner of a peanut company in Georgia was sentenced to 28 years in prison on Monday for his role in a salmonella outbreak that killed nine people and sickened hundreds, a rare instance of jail time in a food contamination case.
  • The U.S. business lobby expressed disappointment on Monday at the pace of negotiations on a bilateral investment treaty with China and said it was important that President Xi Jinping address the growing concerns of U.S. firms when he visits the United States this week.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1136 TARGET 1141 1147 SL 1130
  • SELL GOLD BELOW 1130 TARGET 1125 1119 SL 1136

For more information about Commodity Market Trading or Commodity Trading Signals, Please visit- EPIC RESEARCH MALAYSIA.

21Sep
gold-bars

Comex Trading Signals and Market News – 21 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Oil prices dipped early on Friday on fresh signs the Middle East will continue to prioritise market share over prices, while the United States kept interest rates at historic lows on worries over the health of the global economy.
  • Gold jumped in Asia on Friday after a tepid start as the Federal Reserve kept its benchmark interest rate steady in the face of global economic volatility.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery rose 1.20% to $1,130.40 a troy ounce.
  • U.S. crude futures fell sharply on Friday erasing massive gains from earlier in the week, even as oil rig totals nationwide extended a streak of minor declines. Dollar-denominated commodities such as crude become more expensive for foreign purchasers when the dollar appreciates.

ECONOMY NEWS :

  • The U.S. Federal Reserve kept interest rates unchanged on Thursday in a bow to worries about the global economy, financial market volatility and sluggish inflation at home, but left open the possibility of a modest policy tightening later this year.
  • Wall Street stocks closed lower on Friday in heavy trading as the Federal Reserve’s decision to keep interest rates near zero fueled concerns about the potential impact of continuing weak global growth on U.S. corporate earnings.
  • The U.S. Federal Reserve’s decision not to raise interest rates on Thursday is giving investors a green light to buy bonds on the view that the central bank won’t move for some time.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1139 TARGET 1144 1150 SL 1133
  • SELL GOLD ABOVE 1136 TARGET 1131 1125 SL 1142

For more information about Commodity Market Trading or Commodity Trading Signals, Please visit- EPIC RESEARCH MALAYSIA.

18Sep
comex

Comex Trading Signals and Market News – 18 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Oil prices fell on Thursday after weak Japanese data sounded alarm bells over the prospects for global growth, outweighing the bullish impact of a bigger-than-expected decline in U.S.crude oil stocks.
  • Gold prices were trading close to their highest level in a week on Thursday as weak U.S. inflation data weighed on the dollar and raised hopes that the Federal Reserve would hold off hiking interest rates.
  • Crude oil gained on Thursday with investors looking ahead to the Federal Reserve’s view on interest rates and noting lower stocks in the U.S. On the New York Mercantile Exchange, WTI crude for October delivery rose 0.19% to $47.24 a barrel.

ECONOMY NEWS :

  • WASHINGTON (Reuters) – U.S. President Barack Obama urged Congress on Wednesday to avoid shutting down the government starting on Oct. 1, as Republicans in the House of Representatives struggled to get enough votes to pass a bill to fund it.
  • Greece’s leftist Syriza party has a 0.6 percentage point lead over the conservative New Democracy party, a Kapa Research poll for To Vima newspaper showed on Thursday.
  • European unease that Greece may falter on its bailout promises after elections on Sunday looks misplaced, at least initially, as its pressing need for money means that whoever wins is likely to toe the line.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1130 TARGET 1135 1141 SL 1124
  • SELL GOLD ABOVE 1126 TARGET 1121 1115 SL 1131

For more information about Commodity Market Trading or Commodity Trading Signals, Please visit- EPIC RESEARCH MALAYSIA.

17Sep
comex1

Comex Trading Signals and Market News – 17 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Oil prices extended gains in early trading in Asia on Wednesday after U.S. prices were boosted by a stockpile draw, while a warning by OPEC producer Iraq that it may slow spending on new fields pushed up international crude contracts.
  • Gold struggled to break out of a tight range near its one-month low on Wednesday, as investors waited to hear on the outlook of U.S. interest rates from a Federal Reserve policy meet that kicks off later in the session.
  • Crude supplies fell 3.1 million barrels in the U.S. last week, according to the American Petroleum Institute late Tuesday, signalling that refineries are ramping up for winterheating oil demand. Data for refined products was not immediately available.

ECONOMY NEWS :

  • Organisation for Economic Co-operation and Development (OECD) updates key macroeconomic forecasts for major economies – 0900 GMT. SINGAPORE – Asian Development Bank President Take  hiko Nakao speaks on Asian economic outlook and role of ADB – 0130 GMT. Nakao will also be attending the inaugural international conference on Evolving Finance, Trade and Investment in Asia .
  • Emerging market currencies have tumbled, equities have fallen and bond yields have risen steadily since the middle of the year, when Fed officials flagged the possibility that they could lift their near zero rates in the second half for the first time in nine years.
  • World share markets rose on Wednesday and short-term U.S. bond yields held near 4 1/2-year highs as investors braced for the possibility of the first interest rate hike in the United States in almost a decade.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1125 TARGET 1130 1136 SL 1119
  • SELL GOLD BELOW 1118 TARGET 1113 1107 SL 1124

For more information about Commodity Market Trading or Commodity Trading Signals, Please visit- EPIC RESEARCH MALAYSIA.

16Sep
gold-bars

Comex Trading Signals and Market News – 16 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Oil edged further above $46 a barrel on Tuesday, supported by the prospect of lower U.S. inventories and production although concern about weaker Asian demand kept prices in check.While analysts expect reports this week to show no change in U.S.
  • Gold prices held steady in European morning hours on Tuesday, as markets were jittery ahead of the Federal Reserve’s policy statement this week amid growing uncertainty over a potential rate hike
  • Crude oil gained in early Asia on Tuesday with investors focused on U.S. stockpile estimates from the American Petroleum Institute later in the day.

ECONOMY NEWS :

  • On the New York Mercantile Exchange, WTI crude for October delivery rose 0.17% to $44.16 a barrel.A rise in market expectations for U.S. interest rates as the Federal Reserve starts to normalize policy could cut capital inflows to emerging markets by as much as 45 percent, World Bank economists said in a paper published on Tuesday.
  • Savun Sim looked dejected as a large plastic vacuum hose sucked 2,600 pounds of wild Gulf of Mexico shrimp from his trawler’s ice hold.
  • For the nation’s largest banks, it’s a $10 billion question: Will the U.S. Federal Reserve bump up interest rates in its upcoming meeting, or keep them scraping zero? If the Fed’s decision-makers opt to raise rates in the near term, it will be lucrative for banks’ central business of taking deposits and making loans.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1106 TARGET 1111 1117 SL 1101
  • SELL GOLD BELOW 1102 TARGET 1097 1091 SL 1108

For more information about Commodity Market Trading or Commodity Trading Signals, Please visit- EPIC RESEARCH MALAYSIA.

15Sep
gold-bars

Comex Trading Signals and Market News – 15 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Brent crude oil fell on Monday as weaker-than-expected Chinese data weighed on markets, adding to concerns that declining global demand would exacerbate a surplus of crude.
  • Gold prices rose in European morning hours on Monday, but they remained within close distance of Friday’s one-month lows as markets were jittery ahead of the Federal Reserve’s policy statement this week.
  • Use of natural gas has two seasonal peaks, with consumption patterns predominantly driven by weather. The largest peak occurs during the winter, when cold weather increases the demand for natural gas space heating in the residential and commercial sectors, according to EIA.

ECONOMY NEWS :

  • Vaccine billionaire Cyrus Poonawalla has bought a former maharaja’s mansion in Mumbai from the U.S. government for around 7.5 billion rupees ($113 million), newspapers reported, making it the most expensive ever residential purchase in the country.
  • TAIPEI – Central Bank of the Republic of China (Taiwan) announces rate decision – 0900 GMT. PRAGUE – Czech National Bank holds monetary policy meeting to announce interest rates – 1100 GMT. JERUSALEM – Bank of Israel announces rate decision – 1300 GMT .
  • President Barack Obama will announce steps to bolster access to financial aid for students as part of efforts to make college more affordable, the White House said on Sunday. Students also will be able to electronically retrieve tax information filed for a previous year rather than waiting until tax season to finish their applications.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1110 TARGET 1115 1121 SL 1104
  • SELL GOLD BELOW 1106 TARGET 1101 1095 SL 1112

For more information about Commodity Market Trading or Commodity Trading Signals, Please visit- EPIC RESEARCH MALAYSIA.

14Sep
gold-bars

Comex Trading Signals and Market News – 14 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Oil prices fell on Friday after Saudi Arabia dismissed the idea of an oil producer summit and as Gold- man Sachs (NYSE:GS) cut its crude forecasts.October Brent, the global oil benchmark, fell 65 cents to $48.24 a barrel by 0745 GMT after it settled up $1.31, or 2.8 percent, on Thursday.
  • Gold prices gained mildly in Asia on Friday with weekend data in China in focus and next week’s Federal Reserve meeting on interest rates.China will release retail sales and industrial production figures at the weekend.
  • Crude oil prices fell in Asia on Friday as investors looked ahead to weekend data from China on retail sales and industrial output and took gains from overnight.On the New York Mercantile Exchange, WTI crude for October delivery fell 0.65% to $45.62 a barrel.

ECONOMY NEWS :

  • LONDON (Reuters) – Investors pulled another $19 billion from equity funds over the past week as they sought safety in government bond funds, which have enjoyed the longest run of inflows in four years, Bank of America/Merrill Lynch said on Friday.
  • FRANKFURT (Reuters) – Economic growth in the euro zone is still too weak to create a sufficient number of jobs, European Central Bank Executive Board member Benoit Coeure told a French newspaper group EBRA on Friday. “Growth is still not strong enough to create a sufficient number of jobs,” Coeure told the group.
  • The Chinese currency will remain under pressure as long as U.S. interest rates are set to rise, analysts said. U.S. market rates have already risen in anticipation the Federal Reserve will raise its policy rate by the end of this year for the first time since 2006.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1111 TARGET 1116 1122 SL 1105
  • SELL GOLD BELOW 1108 TARGET 1103 1097 SL 1114

For more information about Commodity Market Trading or Commodity Trading Signals, Please visit- EPIC RESEARCH MALAYSIA.

11Sep
gold-bars

Comex Trading Signals and Market News – 11 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Gold futures struggled near the lowest level in four weeks on Thursday, amid worries the Federal Reserve will increase interest rates when it meets on September 16-17. Gold for December delivery on the Comex division of the New York Mercantile Exchange inched up $4.30, or 0.39%, to trade at $1,106.30 a troy ounce during European morning hours.
  • Copper futures held near the prior session’s seven-week high on Thursday, as weak China inflation data reinforced views that Beijing will roll out fresh support measures soon for the world’s second largest economy.
  • Oil prices edged higher on Thursday ahead of weekly U.S. stocks data, despite fresh signs of an economic slowdown in China and Japan that fueled concerns growth could be grinding to a halt. Crude prices have fallen more than 3 percent this week on persistent worries over global demand and a supply glut.

ECONOMY NEWS :

  • The U.S. Justice Department has issued new guidelines that emphasize prosecuting individual executives in white-collar crime cases, and not just their corporations.
  • NEW YORK/SAN JUAN (Reuters) – Puerto Rico’s new plan to haul itself out of a huge financial hole is long on ifs and buts and short on confident predictions.
  • Brazil was awarded an investment-grade rating by S&P in April 2008, when the country’s economy was on the rise. However, since then, a plunge in commodity prices — mainly caused by a drop in Chinese demand — coupled with stringent austerity measures implemented by President Dilma Rousseff’s administration, has created a recession in the country.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1113 TARGET 1118 1124 SL 1107
  • SELL GOLD BELOW 1110 TARGET 1105 1099 SL 1116

For more information about Commodity Market Trading or Commodity Trading Signals, Please visit- EPIC RESEARCH MALAYSIA.

10Sep
gold-bars

Comex Trading Signals and Market News – 10 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Gold futures struggled on Wednesday, as strong gains in global equity markets dampened demand for the yellow metal. Gold prices were also weighed amid ongoing uncertainty about whether the Federal Reserve will increase interest rates later this month when it meets on September 16-17.
  • Copper futures extended strong gains from the prior session on Wednesday to hit the highest level in more than seven weeks as indications of steady demand from China and news of global production cuts boosted prices.
  • Crude oil prices remained steady but at low levels in early Asian trading on Wednesday as concerns remained that high global production was being met by increasingly slowing demand.

ECONOMY NEWS :

  • German Chancellor Angela Merkel said on Wednesday that the euro zone economy was in better shape than a year ago and said reform efforts by countries like Spain and Ireland had paid off. “If we look at the euro zone as a whole, we can say that there is an economic recovery, the situation is better than a year ago,” Merkel told the Bundestag lower house of parliament.
  • China’s economic fundamentals are healthy, the head of the country’s top economic planner said on Wednesday.”China has contributed around 30 percent of the world’s economic growth,” Xu Shaoshi, chairman of the National Development and Reform Commission (NDRC), said at the World Economic Forum (WEF), the Swiss-based corporate think-tank which runs the Davos summit of world leaders.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1109 TARGET 1114 1120 SL 1103
  • SELL GOLD BELOW 1105 TARGET 1100 1094 SL 1111

For more information about Commodity Market Trading or Commodity Trading Signals, Please visit- EPIC RESEARCH MALAYSIA.

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