openPR Logo
Press release

Daily Comex Commodity Report of 28 June 2017 by Epic Research

06-28-2017 01:34 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Epic Research

Gold prices edged higher in North American trade on Tuesday, bouncing back from sharp losses a day earlier, as investors awaited data and key remarks from leading Federal Reserve members including Chair Janet Yellen.

INTERNATIONAL COMMODITY NEWS

• Gold prices edged higher in North American trade on Tuesday, bouncing back from sharp losses a day earlier, as investors awaited data and key remarks from leading Federal Reserve members including Chair Janet Yellen. Comex gold futures were at $1,250.20 a troy ounce by 8:35AM ET (1235GMT), up $3.80, or around 0.3%. It fell to its lowest since May 17 at $1,236.50 in the prior session. Gold fell sharply Monday, with prices marking their first decline in four sessions, as a large sell order and a stronger dollar hit sentiment. Also on the Comex, silver futures ticked up 6.5 cents, or roughly 0.4%, to $16.63 a troy ounce, recovering from the prior session's seven-week low of $16.22. Fed Chair Janet Yellen is due to speak about global economic issues at the British Academy's 2017 President's Lecture in London at 1:00PM ET (1700GMT). Audience questions are expected. Her comments will be monitored closely for any new insight on policy and the timing of when the Fed will next raise interest rates.

• OPEC will not rush into making a further cut in oil output or end some countries' exemptions to output limits, OPEC delegates said, although a meeting in Russia next month is likely to consider further steps to support the market. OPEC and allied non-OPEC producers agreed on May 25 to extend an existing supply cut into 2018, but oil has fallen sharply then on rising production from the United States and from Nigeria and Libya, two OPEC members exempt from cutting output. [O/R] "I doubt it will be considered soon," said an OPEC delegate, referring to the chance of a larger cut. "They will look at this issue most probably in the upcoming meeting in Russia in July." Oil ministers from five countries monitoring the deal plus Saudi Arabia as OPEC president are scheduled to meet in Russia on July 24. They could make a recommendation to the wider group, which holds its next meeting in November, on adjusting the pact.

• U.S. natural gas futures rose to a more than one-week high on Tuesday, extending gains from the prior session amid bullish weather forecasts that should provide a boost in demand for the fuel. U.S. natural gas for August delivery was at $3.058 per million British thermal units by 9:25AM ET (1325GMT), up 0.9 cents, or around 0.3%. It rose to its highest since June 16 at $3.080 in overnight trade. Natural gas rallied almost 10.0 cents, or roughly 3.3%, on Monday, the biggest one-day gain since late February, as updated weather forecasting models pointed to increased summer demand in the weeks ahead. Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on summer heating demand. Gas use typically hits a seasonal low with spring's mild temperatures, before warmer weather increases demand for gas-fired electricity generation to power air conditioning. Nearly 50% of all U.S. households use gas for heating.

TRADING STRATEGY :

BUY GOLD ABOVE 1260 TGT 1265 1275 SL BELOW 1250
SELL GOLD BELOW 1240 TGT 1235 1225 SL ABOVE 1250

Epic Research Limited is a supreme level financial advisory services provider firm .We have designed services for different investors as per their needs like equity tips, comex tips, stock tips and many more to serve our clients. We offer regular services for investors with less capital and premium services for massive investors looking for higher returns on investments with bigger targets.

Want to take a FREE TRIAL? Visit our site link below and become a part of our Epic family. Happy trading.
http://www.epicresearch.co/

or
mail us @ info@epicresearch.co

Also you can Whatsapp us at :7049084664

Our Office:411 Milinda Manor, 2 RNT Road, Indore 452001.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Daily Comex Commodity Report of 28 June 2017 by Epic Research here

News-ID: 598837 • Views:

More Releases from Epic Research

Epic Research Daily Agri Commodity Report Of 28 August 2018
Multi Commodity Exchange of India Ltd (MCX) has signed a Memorandum of Understanding (MoU) with Indian Cotton Federation (ICF).The MoU with MCXNSE 1.18 % will enable ICF’s members to effectively participate in the exchange’s knowledge-sharing initiatives to understand the benefits, techniques and strategies of risk management using cotton futures contracts. The agreement is further designed to facilitate potential collaboration in areas such as organising awareness events for cotton value chain
Epic Research Daily Agri Commodity Report Of 27 August 2018
Rapid heavy rain and floods in Coffee growing areas in Kerala have worsened the shortage of robusta beans, hitting hard exporters and local producers. The production of robusta, which accounts for majority of Coffee exports from the country and is the chief ingredient for instant Coffee, was last year 10-20% short of the Coffee Board’s projection of 2.21 lakh tonnes. The inclement weather is expected to pull down the crop
Epic Research Daily Agri Commodity Report Of 24 August 2018
The Directorate General of Foreign Trade (DGFT) has allowed import of yellow peas up to 125 tonnes, covering advance payment made early this year to sellers abroad. Importers traditionally make advance payment of up to 10 per cent of the value for contracts to be executed in the future. This got stuck with DGFT suspending all import of yellow peas without a Letter of Credit (LC), by an April 25
Epic Research Daily Agri Commodity Report Of 21 August 2018
India's Palm Oil imports are likely to fall 15% in 2017/18 from the year before to their lowest in six years, hit by a hike in import taxes, a weaker rupee and tighter credit for would-be buyers, industry sources said. Local prices moved up due to higher import tax and depreciation in the rupee. The price rise moderated demand for imports, the Solvent Extractors' Association of India (SEA) said. India

All 5 Releases


More Releases for OPEC

UXO Detection Market Advanced Technologies with Growth Trends by 2027 - Vallon G …
Rise in military technology development to safeguard the lives of troops deployed in active combat zones is significantly driving the growth of the UXO detection market across the world. Technologies such as AI and detection through drones, etc. are being deployed to increase the scanning efficiency of detectors. UXO Detection Market Forecast to 2027 - COVID-19 Impact and Global Analysis By System Type (Hardware, Software) and Geography Get Sample PDF Copy at
An Overview on Global Oil and Gas Market 2019-2025| Prominent Players Exxon Mobi …
The oil and gas sector, which is considered the world's largest sector in terms of dollar value globally, is a global powerhouse that employs hundreds of thousands of workers globally and earns billions of dollars annually worldwide. In regions with major NOCs, these oil and gas companies are so important that they often donate significant amounts to national GDP. Leading Players of Global Oil and Gas Market: • OPEC • Exxon Mobil • Petro China • Chevron • Total • Sinopec • Royal Dutch Shell • Gazprom • Rosneft Request
Oil & Gas Pumps Market - The demand for OPEC crude is projected to increase to n …
Definition Oil & gas pumps are used in process of extracting oil and gas resources, in processing or in delivering as per the requirement. The centrifugal pump is the most common type of pump used in the oil & gas industry. Other types of oil & gas pumps including positive displacement pumps, petrochemical pumps, oil transfer pumps, etc., are also finding large application in the oil and gas industry. About the Report The
Europe’s Markets to Remain under Pressure, As Investors Await the G20 Summit a …
Europe’s investors’ eyes are on the G20 summit to be held from November 30 to December 1 in Argentina. Investors expect that some new arrangements might be worked out by the US and China that would hopefully help to break the trade impasse. The positive expectations are driven by the US President Donald Trump’s saying earlier that he intends to discuss the situation with the Chinese leader on the sidelines. Another
Markets Rally, Oil Stumbles Ahead of OPEC Meeting
14th April 2016 Tain Capital Markets Rally, Oil Stumbles Ahead of OPEC Meeting After a bumper day for most of the major markets, Oil slipped off of its 4mth highs ahead of an OPEC meeting due later this week. Both Brent and US Crude slipped on Wednesday trading as investors looked to the equity markets after positive data out of China. US Crude fell 1% to end the day at $41.76 with Brent fairing worse
BMI: Regaining Momentum - Global Oil Market Review Q310
As with Q2, the third quarter started with encouraging oil market strength, which then dissipated rapidly. If anything, oil market fundamentals improved, with demand assumptions rising. The US driving season was disappointing, but the real damage was done as macroeconomic uncertainty crept back into the market and investors turned their backs on oil. Ongoing eurozone economic woes, fresh China jitters and a general sense of macroeconomic fragility meant that oil