openPR Logo
Press release

Daily Comex Commodity Report of 18 August 2017 by Epic Research

08-18-2017 08:32 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Epic Research

INTERNATIONAL COMMODITY NEWS

Gold prices pared gains on Thursday, as demand for the greenback grew stronger after the release of upbeat U.S. jobless claims and manufacturing activity data. Comex gold futures were still up around $6.84, or about 0.54%, to $1,289.94 a troy ounce by 8:50AM ET (1250GMT), pulling away from a two-month high of $1,298.10 touched late last week. Gold prices weakened after data showed that the number of people who filed for unemployment assistance in the U.S. last week fell more than expected. A separate report showed that manufacturing activity in the Philadelphia region declined less than expected this month. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.50% at 93.87, close to the previous session’s nearly three-week high of 94.06. Gold prices finished higher on Wednesday as news that two White House business advisory groups have disbanded prompted a latesession turn higher for the yellow metal.

Oil prices turned lower after a brief rebound on Thursday, to trade at a more than three-week trough after strong U.S. data boosted demand for the greenback and as concerns over rising U.S. production continued to weigh. The U.S. West Texas Intermediate crude September contract was at $46.61 a barrel by 9:00AM ET (1300GMT), down 19 cents, or around 0.41%, at its lowest level since July 25. Elsewhere, Brent oil for October delivery on the ICE Futures Exchange in London lost 15 cents, or about 0.3%, to $50.12 a barrel, not far from a three-week low of $50.02 hit on Tuesday. The U.S. dollar strengthened broadly after data showed that the number of people who filed for unemployment assistance in the U.S. last week fell more than expected. A separate report showed that manufacturing activity in the Philadelphia region declined less than expected this month.

Australian thermal coal prices for spot cargoes above $100 a tonne, lifted by reports of strikes and strong Chinese demand, are providing a boost in earnings and share prices for miners like Glencore and Whitehaven Coal. A crackdown on illegal mining and pollution in China has curbed domestic supplies, just as a heat wave and lower hydro power output have boosted demand for coal for power generation, forcing up prices. A similar squeeze in 2016 pushed prices to $114 a tonne and miners are again eyeing windfall profits, despite warning that the market is volatile. "Coal demand remains strong, especially in Asia," said Paul Flynn, managing director of Whitehaven Coal (AX:WHC).

TRADING STRATEGY :

BUY GOLD ABOVE 1290 TGT 1295 1305 SL BELOW 1280
SELL GOLD BELOW 1279 TGT 1274 1264 SL ABOVE 1289

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 Indore

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 18 August 2017 by Epic Research here

News-ID: 673360 • 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 Gold

Gold Mining Market - Key Players & Qualitative Insights 2025 | Gold Corp, Barric …
Global Gold Mining Market: Overview A variety of techniques are typically used to obtain gold from gold ores in the ground. They are: placer mining, sluicing, gold panning, dredging, hard-rock mining, rocker box, and by product mining. Gold mining has been carried out since ages and is a flourishing market even today. The high demand for gold as a potential mode of investment and the use of gold for making jewelry
Global Gold Mining Market to 2025: Newmont Mining, Gold Reserve, Royal Gold, Hom …
Researchmoz added Most up-to-date research on "Global Gold Mining Market Insights, Forecast to 2025" to its huge collection of research reports. This report researches the worldwide Gold Mining market size (value, capacity, production and consumption) in key regions like North America, Europe, Asia Pacific (China, Japan) and other regions. This study categorizes the global Gold Mining breakdown data by manufacturers, region, type and application, also analyzes the market status, market share, growth
Gold Metals Market Demands with Major Quality Things: Pure Gold, Mixed Color Gol …
Gold Metals Market By Product (Pure Gold, Mixed Color Gold, Color Gold and Other Products) and Application (Luxury Goods, Automotive, Electronics and Other Applications) - Global Industry Analysis And Forecast To 2025. Industry Outlook: The gold is an element having the symbol Au (from the Latin name: aurum) and the atomic number been 79, making it the element with higher atomic number that happen normally. In the most pure form, it is
Gold Mining Market Highlights On Product Demand 2025 | Gold Corp, Barrick Gold
Global Gold Mining Market: Overview A variety of techniques are typically used to obtain gold from gold ores in the ground. They are: placer mining, sluicing, gold panning, dredging, hard-rock mining, rocker box, and by product mining. Gold mining has been carried out since ages and is a flourishing market even today. The high demand for gold as a potential mode of investment and the use of gold for making jewelry
Gold Mining Market - Heightened demand 2025 | Gold Corp, Barrick Gold
Global Gold Mining Market: Overview A variety of techniques are typically used to obtain gold from gold ores in the ground. They are: placer mining, sluicing, gold panning, dredging, hard-rock mining, rocker box, and by product mining. Gold mining has been carried out since ages and is a flourishing market even today. The high demand for gold as a potential mode of investment and the use of gold for making jewelry
Gold on Gold: Double Olympic Gold Medalist, Pete Reed MBE, visits Grays of Westm …
The Olympic champion and dedicated Nikon user, Pete Reed, visits Grays of Westminster - something he has wanted to do for a long time. London - Double Olympic Gold Medalist (in the Coxless Four - Rowing) from Beijing 2008 and London 2012 and keen Nikon user, Pete Reed, recently visited Grays of Westminster, the award-winning Nikon-only dealer in London. Grays of Westminster founder, Gray Levett said, "We were very honoured to be