19Oct

COMEX MARKET IN MALAYSIA| 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 were flat on Thursday as investors paused to digest the latest meeting minutes from the Federal Reserve. Comex gold futures for December delivery inched up 0.06% to $1,228.10 a troy ounce as of 8:02 AM ET (12:02 GMT). The hawkish Fed minutes showed that while the central bank had some doubts about the economy, it still planned to gradually increase interest rates in December and beyond
  • Turkey’s top refiner, Tupras, is in talks with U.S. officials to obtain a waiver allowing it to keep buying Iranian oil after Washington reinstates sanctions on the Islamic Republic’s energy sector in November, industry sources said. The United States is preparing to impose the new sanctions on Iran’s oil industry after Washington withdrew from a nuclear deal between Tehran and other global powers earlier this year, but is also considering offering waivers to some allies that rely on Iranian supplies.
  • Oil prices continued the downward trend for a second session on Thursday after data released a day earlier showed an unexpectedly strong build in U.S. crude stockpiles, while geopolitical tensions, the upcoming deadline for U.S. sanctions on Iran and continuing concern over production have all been factors involved in recent market volatility.

19oct4

ECONOMY NEWS

  • Italy’s Prime Minister defended the country’s “beautiful” 2019 budget on Thursday, saying he had expected Brussels to criticize it as European authorities stepped up pressure for changes to a draft that breaches the bloc’s fiscal rules. Giuseppe Conte also denied a rift over the fiscal plan within his governing coalition, after reports of a spat over tax revenues. The draft, signed off by Italy’s cabinet on Monday, will hike the deficit at a time when under EU regulations it should be narrowing, as well as boosting welfare spending and cutting the retirement age.
  • Italy’s successful bond exchange gives it some breathing room. The deal will cut the amount of debt the country needs to refinance in 2020 and give it more time to repay its borrowings. On Thursday, the Treasury switched a larger-than expected 3.8 billion euros ($4.4 billion) of inflation-linked paper maturing in April 2020 for five longer-dated bonds with maturities of roughly seven, 10 and 28 years.
  •  The European Central Bank could start raising interest rates about a year from now if the euro-area economy develops as policy makers currently expect, Governing Council member Olli Rehn said on Thursday. Speaking a week before the next policy meeting, Rehn told a Finnish radio station that financial markets seem well-aligned with the central bank’s guidance, which foresees borrowing costs staying at record low levels through the summer of 2019.

GOLD TRADING FORECAST TODAY

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18Oct

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 largely unchanged on Wednesday, as investors looked ahead to minutes from the Federal Reserve’s latest policy meeting for fresh clues into the outlook for monetary policy in the months ahead. Comex gold futures were up 50 cents, or less than 0.1%, at $1,231.30 a troy ounce by 9:05 AM ET (1305GMT), holding within sight of a two-and-a-half-month high of $1,236.90 hit on Monday.
  • Statements by the United States that it would reduce Iran’s oil exports to zero are a “political bluff”, the head of staterun National Iranian Oil Company (NIOC) said, according to a report published by Tasnim news agency on Wednesday. Iran’s Foreign Ministry also criticized U.S. sanctions imposed on Tuesday on several Iranian banks and other companies, saying they were part of Washington’s psychological war, state-run IRNA news agency reported.
  • U.S. crude oil inventories rose more than expected last week, the Energy Information Administration said in its weekly report on Wednesday. The EIA data showed that crude oil inventories rose by 6.5 million barrels in the week to October 12. That was compared to forecasts for a stockpile build of 1.6 million barrels, after a build of almost 6 million barrels in the previous week.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • The U.S. Treasury Department is poised to release its much-awaited foreign-exchange policy report to Congress on Wednesday afternoon, according to an administration official. The semi-annual review of currency regimes of the U.S.’s 12 major trade partners and Switzerland will be released on Treasury’s website late in the day in Washington, the official said, declining to provide timing. The person spoke on the condition of anonymity.
  • German Chancellor Angela Merkel said there was still a chance of concluding an agreement for an orderly exit for Britain from the European Union, but Berlin was preparing for all options, including the possibility of a no-deal departure. Addressing the German parliament ahead of a Wednesday evening European summit on issues including Brexit, Merkel said agreement had yet to be reached on arrangements for the border between the north and south of Ireland.
  • The EU’s Trade Commissioner said on Wednesday that the bloc was open to talks with the United States on industrial goods tariffs but that Washington had not yet shown any serious interest. Commissioner Cecilia Malmstrom said she welcomed U.S. Trade Representative’s office statement on Tuesday that Washington intends to open trade talks with the European Union and the United Kingdom.

COMEX GOLD SIGNAL

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18Oct

FBM KLCI Index Gained 3.75 Points

The FBM KLCI index gained 3.75 points or 0.22% on Wednesday. The Finance Index fell 0.08% to 17575.66 points, the Properties Index up 0.27% to 890.26 points and the Plantation Index rose 0.34% to 7426 points. The market traded within a range of 5.51 points between an intra-day high of 1742.80 and a low of 1737.29 during the session.

Actively traded stocks include MRCB, TIGER, BORNOIL, HIBISCS, BARAKAH, NGGB-WA, PWORTH, HIBISCS-WC, VS-WA and NGGB. Trading volume increased to 2025.48 mil shares worth RM2080.06 mil as compared to Tuesday’s 1526.79 mil shares worth RM1615.81 mil.

18 Oct 2018

Leading Movers were GENM (+13 sen to RM4.51), DIGI (+6 sen to RM4.46), IOICORP (+5 sen to RM4.58), PMETAL (+5 sen to RM4.83) and SIMEPLT (+3 sen to RM5.23). Lagging Movers were HLBANK (-26 sen to RM20.68), HLFG (-22 sen to RM18.78), TM (-2 sen to RM2.56), RHBBANK (-4 sen to RM5.29) and MISC (-3 sen to RM5.65). Market breadth was positive with 538 gainers as compared to 275 losers.

 


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17Oct

COMEX MARKET IN MALAYSIA| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • The United States still aims to cut Iran’s oil sales to zero and does not expect restored oil sanctions against Tehran to have a negative impact on a market that is well-supplied and balanced, a senior U.S. official said on Monday. U.S. special envoy for Iran Brian Hook was talking to reporters after a visit to India, a major importer of Iranian oil, and talks with officials from France, Britain and Germany before the start of a new round of U.S. sanctions on Nov. 4 targeting Iran’s energy sector and financial transactions.
  • Oil prices steadied on Monday as tension over the disappearance of a prominent Saudi journalist stoked supply worries, balancing concerns over the long-term demand outlook. Benchmark Brent crude oil jumped by $1.49 a barrel to a high of $81.92 before giving up its gains to trade around $80.38, down 5 cents, by 1345 GMT. U.S. crude was down 5 cents at $71.29.
  • Gold prices surged around 1% on Monday to reach the highest level in three months as a combination of concerns over rising U.S. yields and the impact of trade conflict, along with geopolitical risks and a weaker dollar, underpinned demand for the precious metal. December gold futures were up $13.00 or 1.06% to $1,234.90 by 08:36 AM ET (12:36 GMT) on the Comex division of the New York Mercantile Exchange after rising as high as $1,236.90 earlier, the most since mid-July.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • When people over the age of 50 get divorced, retirement accounts become a key asset, even more so sometimes than the house or alimony. Lawyers and feuding couples are bracing for big changes at the end of 2018 for how these assets get split up. While most of the tax law changes that were signed at the end of 2017 are in effect for the current tax year, the divorce disruption does not kick in until Jan. 1, 2019.
  • North and South Korea agreed on Monday to begin reconnecting rail and road links, another step in an improving relationship that has raised U.S. concern about the possible undermining of its bid to press the North to give up its nuclear program. The agreement on transport links came during talks in the border village of Panmunjom aimed at following up on the third summit this year between South Korea’s President Moon Jae-in and North Korean leader Kim Jong Un, last month.
  • Labor unrest is on the rise at two centers in India where motorcycles and components are manufactured, underlining the problems Prime Minister Narendra Modi’s government faces in creating new manufacturing jobs that are sustainable and pay attractive wages. Motorbike makers, such as Japan’s Yamaha (T:7272), and India’s Eicher Motors(NS:EICH) – maker of the iconic Royal Enfield motorcycles – have been hit hard by walkouts, although major carmakers have been largely unscathed.

GOLD TRADING FORECAST TODAY

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16Oct

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • The United States still aims to cut Iran’s oil sales to zero and does not expect restored oil sanctions against Tehran to have a negative impact on a market that is well-supplied and balanced, a senior U.S. official said on Monday. U.S. special envoy for Iran Brian Hook was talking to reporters after a visit to India, a major importer of Iranian oil, and talks with officials from France, Britain and Germany before the start of a new round of U.S. sanctions on Nov. 4 targeting Iran’s energy sector and financial transactions.
  • Oil prices steadied on Monday as tension over the disappearance of a prominent Saudi journalist stoked supply worries, balancing concerns over the long-term demand outlook. Benchmark Brent crude oil jumped by $1.49 a barrel to a high of $81.92 before giving up its gains to trade around $80.38, down 5 cents, by 1345 GMT. U.S. crude was down 5 cents at $71.29.
  • Gold prices surged around 1% on Monday to reach the highest level in three months as a combination of concerns over rising U.S. yields and the impact of trade conflict, along with geopolitical risks and a weaker dollar, underpinned demand for the precious metal. December gold futures were up $13.00 or 1.06% to $1,234.90 by 08:36 AM ET (12:36 GMT) on the Comex division of the New York Mercantile Exchange after rising as high as $1,236.90 earlier, the most since mid-July.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • When people over the age of 50 get divorced, retirement accounts become a key asset, even more so sometimes than the house or alimony. Lawyers and feuding couples are bracing for big changes at the end of 2018 for how these assets get split up. While most of the tax law changes that were signed at the end of 2017 are in effect for the current tax year, the divorce disruption does not kick in until Jan. 1, 2019.
  • North and South Korea agreed on Monday to begin reconnecting rail and road links, another step in an improving relationship that has raised U.S. concern about the possible undermining of its bid to press the North to give up its nuclear program. The agreement on transport links came during talks in the border village of Panmunjom aimed at following up on the third summit this year between South Korea’s President Moon Jae-in and North Korean leader Kim Jong Un, last month.
  • Labor unrest is on the rise at two centers in India where motorcycles and components are manufactured, underlining the problems Prime Minister Narendra Modi’s government faces in creating new manufacturing jobs that are sustainable and pay attractive wages. Motorbike makers, such as Japan’s Yamaha (T:7272), and India’s Eicher Motors(NS:EICH) – maker of the iconic Royal Enfield motorcycles – have been hit hard by walkouts, although major carmakers have been largely unscathed.

COMEX GOLD SIGNAL

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16Oct

FBM KLCI Index Gained 22.25 Points Last Week

The FBM KLCI index gained 22.25 points or 1.30% on Friday. The Finance Index increased 1.80% to 17528.62 points, the Properties Index dropped 0.18% to 903.89 points and the Plantation Index rose 0.26% to 7411.8 points. The market traded within a range of 28.24 points between an intra-day high of 1732.16 and a low of 1703.92 during the session.

Actively traded stocks include HIBISCS, SAPNRG, BORNOIL, MYEG, GAMUDA, HSI-C3V, VC, A50CHIN-H23, VS-WA and ORION. Trading volume decreased to 2216.97 mil shares worth RM2494.47 mil as compared to Thursday’s 3104.46 mil shares worth RM3703.38 mil.

blog 16th oct

 

Leading Movers were PETGAS (+124 sen to RM18.48), CIMB (+29 sen to RM5.95), IHH (+18 sen to RM5.18), MAYBANK (+30 sen to RM9.58) and TENAGA (+32 sen to RM14.60). Lagging Movers were AXIATA (-10 sen to RM3.91), MISC (-9 sen to RM5.57), TM (-4 sen to RM2.60), GENM (-6 sen to RM4.35) and SIME (-2 sen to RM2.58).

 

 

 

Market breadth was positive with 578 gainers as compared to 334 losers. The KLCI halted its losing streak after gained 22.25 points to 1730.74 points despite overnight losses in US markets. The gain in our benchmark index was underpinned by buying in heavyweight counters, led by Petronas Gas.

 


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15Oct

COMEX MARKET IN MALAYSIA| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold eased Friday on light profit-taking, a day after achieving its biggest one-day rally in two years. But support remained solid above the $1,200 level from safe-haven demand triggered by the recent weakness on Wall Street and spike in Treasury yields. “My 35 years on the floor have seen all this before,” George Gero, analyst at the RBC Wealth Management in New York, said, referring to gold’s ability to stay above the $1,200 level despite a series of rate hikes planned by the U.S. Federal Reserve.
  • The winter heating season officially began this month, with U.S. supplies of natural gas roughly 17% below the five-year average for this time of year—sending prices for the commodity to their highest levels since January. That could presage elevated, volatile prices as temperatures begin to fall. Domestic natural-gas supplies in storage stood at 2.956 trillion cubic feet for the week ended Oct. 5, according to the U.S. Energy Information Administration.
  • Oil prices rebounded Friday from the previous day’s rout, but still logged their biggest weekly loss since the second quarter after data showed U.S. drillers ramping up output, even as a second global energy agency said the market was adequately supplied. A weekly reading on the U.S. oil rig count rose by eight, the first such climb in four weeks, which signaled the U.S. shale crude industry was intensifying drilling with prices near four-year highs.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Italian officials must stop questioning the euro and need to “calm down” in their budget debate as they have already caused damage to firms and households, European Central Bank ECB President Mario Draghi said on Saturday. Italy’s government has been locked in a war of words with European officials over Rome’s plans to triple the deficit next year, backtracking on a previous pledge to narrow the budget gap in one of the bloc’s most indebted countries.
  • The International Monetary Fund said on Saturday its members pledged to refrain from competitive currency devaluations and step up dialogue on trade, as escalating trade frictions and higher borrowing costs threatened to knock global growth. The agreement came as U.S. Treasury Secretary Steve Mnuchin reiterated his concern over the yuan’s weakening against the dollar – a drop that Washington suspects may be aimed at giving Chinese exports a trade advantage and offsetting U.S. tariffs.
  • Japan wants to highlight global imbalances as key topics of debate, and take steps to fix them, when it chairs next year’s gatherings of the Group of 20 major economies, government officials said this week. Tokyo hopes other countries would join Japan to counter U.S. President Donald Trump’s focus on narrowing U.S. trade deficits through purely bilateral trade deals, the officials say, rather than the big international agreements now in place.

15oct5

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12Oct

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 more than 1% on Thursday, regaining the psychologically important $1,200 level as a rout in global stock markets spurred by fears over rising bond yields, slowing global growth and trade tensions bolstered safe haven demand. December gold futures were up $13.90 or 1.16% to $1,207.30 by 07:45 AM ET (11:45 GMT) on the Comex division of the New York Mercantile Exchange.
  • OPEC sees the oil market as well supplied and is wary of creating a glut next year, the group’s secretary-general said on Thursday, suggesting producers are in no rush to expand a June agreement that raises output. Oil prices have rallied this year on expectations that U.S. sanctions on Iran will strain supplies by lowering shipments from OPEC’s third largest oil producer.
  • Chinese oil buyers are making a beeline for a bargain across the Pacific. With Canadian oil over 60 percent cheaper than U.S. benchmark West Texas Intermediate and global marker Brent, China’s refiners are being lured to the heavy and sludgy crude. That’s because, apart from being a source of fuel, it’s also rich in bitumen — a black residue used to build everything from roads to runways and roofs.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • U.S. President Donald Trump launched a second day of criticism against the Federal Reserve on Thursday, calling its interest rate increases a “ridiculous” policy that was making it more expensive for his administration to finance its escalating deficits. “I’m paying interest at a high rate because of our Fed. And I’d like our Fed not to be so aggressive because I think they’re making a big mistake,” Trump said in a Thursday morning interview on Fox & Friends.
  • White House economic adviser Larry Kudlow said in an interview with CNBC on Thursday that the Federal Reserve remained independent and U.S. President Donald Trump is not dictating policy to the Fed. His remarks came hours after Trump criticized the Fed for raising interest rates too quickly, in his second attack against the central bank in the past 24 hours.
  • China drew over $17 billion in orders for a sovereign dollar bond sale of $3 billion on Thursday against a backdrop of a global market sell-off and trade war with the United States. The $3 billion deal is only the third U.S.-dollar denominated issuance by China in the last 14 years. It returned to global markets in October last year for the first time since 2004. China is selling five-year, 10-year and 30-year bonds at 30-35, 45-50, 70-75 basis points (bps) over U.S. Treasuries, respectively, according to a term sheet seen by Reuters.

COMEX GOLD SIGNAL

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12Oct

The FBM KLCI Index Lost 38.97 Points

The FBM KLCI index lost 38.97 points or 2.20% on Wednesday. The Finance Index fell 1.08% to 17487.66 points, the Properties Index dropped 3.45% to 922.06 points and the Plantation Index down 0.61% to 7449.27 points. The market traded within a range of 49.29 points between an intra-day high of 1781.79 and a low of 1732.50 during the session.

Actively traded stocks include GAMUDA, SAPNRG, HIBISCS, HSI-C3T, BORNOIL, MYEG, ORION, GLOTEC, MRCB and NETX. Trading volume increased to 3024.92 mil shares worth RM2958.59 mil as compared to Tuesday’s 1804.83 mil shares worth RM1526.14 mil.

12 oct 18

 

Leading Movers were MISC (+13 sen to RM5.79), SIME (+3 sen to RM2.63), KLCC (+5 sen to RM7.60), PMETAL (+1 sen to RM4.91) and KLK (+2 sen to RM24.94). Lagging Movers were TM (- 48 sen to RM2.55), AXIATA (-51 sen to RM3.85), GENTING (-46 sen to RM7.30), GENM (-27 sen to RM4.66) and TENAGA (-70 sen to RM14.68).

 

Market breadth was negative with 116 gainers as compared to 994 losers. The KLCI tumbled to 1735.18 points amid overnight mixed performance in US market. The performance of our local bourse was bogged down by selling interest in heavy weight counters such as TM, Axiata and Genting.

12Oct
3

Epic Research| Forex Report

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar holds losses after CPI rises less than forecast
Forex – GBP/USD hits near 3-week tops, around mid-1.3200s
Forex – EUR/USD tests tops near 1.1600 post-US CPI

EUR/USD

Poor results from the US docket have given extra boost to EUR/USD, which managed to clinch fresh tops just below 1.1600 the figure today. Spot keeps the rally well and sound so far on Wednesday, advancing to the boundaries of 1.1600 the figure after US CPI results failed to meet consensus during last month. In fact, headline consumer prices rose at a monthly 0.1% and 2.3% over the last twelve months, coming in below prior surveys. In the same line, prices stripping food and energy costs gained 0.1% inter-month and 2.2% on an annualized basis. The demand for the single currency remains quite solid in the wake of the US data, while the recent publication of the ECB minutes showed the central bank remains in ‘auto-pilot’ for the time being, eyeing the first rate hike at some point in September/October 2019. The pair moved higher to fresh lows around 1.1600 the figure. The greenback tumbles further and challenges the 95.10 area. US CPI rose less than expected during September.

GBP/USD

The GBP/USD pair quickly reversed an early European session dip to a session low level of 1.3182 and refreshed daily tops, around mid-1.3200s post-US CPI. The US Dollar weakened across the board in a knee-jerk reaction to softer-than-expected US consumer inflation figures, showing that the headline CPI rose a modest 0.1% m/m in September. Adding to the disappointment, core CPI, which excludes food and energy prices, also fell short of market expectations and the yearly rate unexpectedly held steady as against a minor uptick anticipated. The greenback was further weighed down by the US President Donald Trump’s criticism over the pace of Fed rate hikes, saying that the Fed is too aggressive and that they are making a big mistake. Against the backdrop of recent Brexit optimism, a fresh wave of USD selling pressure lifted the pair to near three week tops during the early North-American session, marking its fifth session of positive movement in the previous six.

12 fx

 

 

 

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