Daily Comex Commodity Report of 11 July 2017 by Epic Research

INTERNATIONAL COMMODITY NEWS

• Gold prices fell to a fresh four-month low in European trade on Monday, as investors looked ahead to comments from key Fed officials and a raft of U.S. economic data for further signs of the central bank's likely rate hike trajectory through the end of the year. Comex gold futures were at $1,205.63 a troy ounce by 3:15AM ET (0715GMT), down $4.20, or around 0.4%. It touched it its lowest since March 15 at $1,204.00 earlier. Gold fell sharply on Friday to notch its fifth weekly loss in a row as upbeat monthly data on U.S. Jobs supported expectations for at least one more rate hike from the Federal Reserve this year. The U.S. economy added 222,000 jobs last month the Labor Department reported, more than the 179,000 new jobs expected by economists. Figures for April and May were also revised to show that 47,000 more jobs were created than previously reported. But while the employment headline number was strong, inflation pressure was still tame. Average hourly earnings increased just 0.2% in June, falling short of the estimated 0.3% increase. The rapid pace of jobs growth reassured investors that the economy is on a strong enough footing to justify the Fed’s plans to raise interest rates once more this year. The Fed hiked rates at its June meeting and stuck to its forecast for one more rate hike this year, but the subdued inflation outlook has since raised doubts over whether the U.S.

• Crude rebounded mildly in Asia on Monday with an OPEC and allies meeting later this month on the state-of-play for production cuts coming into sharper focus. The U.S. West Texas Intermediate crude August contract rose 0.23% to $44.33 a barrel by mid-afternoon in Asia. Elsewhere, on the ICE Futures Exchange in London, Brent oil for September delivery was last quoted up 0.24% to $46.82 a barrel. Fresh weekly information on U.S. stockpiles of crude and refined products on Tuesday and Wednesday to gauge the strength of demand in the worldís largest oil consumer. Meanwhile, investors will keep an eye out for monthly reports from the Organization of Petroleum Exporting Counties and the International Energy Agency to assess global supply and demand levels.

• Gold prices fell to a fresh four-month low in European trade on Monday, as investors looked ahead to comments from key Fed officials and a raft of U.S. economic data for further signs of the central bank's likely rate hike trajectory through the end of the year. Comex gold futures were at $1,205.63 a troy ounce by 3:15AM ET (0715GMT), down $4.20, or around 0.4%. It touched it its lowest since March 15 at $1,204.00 earlier. Gold fell sharply on friday to notch its fifth weekly loss in a row as upbeat monthly data on U.S jobs supported expectations for at least one more rate hike from the Federal Reserve this year.The U.S. economy added 222,000 jobs last month the Labor Department reported, more than the 179,000 new jobs expected by economists.

TRADING STRATEGY :

BUY GOLD ABOVE 1215 TGT 1220 1230 SL BELOW 1205
SELL GOLD BELOW 1205 TGT 1200 1190 SL ABOVE 1215

Epic Research Limited is a leading 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.

Epic Research Limited is a leading 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.

411 Milinda Manor (Suites 409 - 425) 2 RNT Marg

This release was published on openPR.