Daily Comex Commodity Report of 6 September 2017 by Epic Research

INTERNATIONAL COMMODITY NEWS

Gold prices continued to trade near one-year highs on Tuesday, as concerns over fresh military threats by North Korea boosted demand for safe-haven assets. Comex gold futures were up $6.76 cents or around 0.51% at $1,337.08 a troy ounce by 08.35 a.m. ET (12:35 GMT). The precious metal strengthened after North Korea conducted its sixth and largest ever nuclear test on Sunday, prompting U.S. Defense Secretary James Mattis to say that any threat to the U.S. or its allies would be met with a “massive military response”. On Monday, South Korea said its northern neighbor had been observed moving what appeared to be an intercontinental ballistic missile towards its west coast. Meanwhile, the United Nations was said to be considering tougher economic sanctions against North Korea. Elsewhere on the Comex, silver futures gained 0.2 cents or about 1.10% to $18.01 a troy ounce.

U.S. oil prices rose on Tuesday and gasoline fell as the gradual restart of refineries in the Gulf of Mexico that were shut by Hurricane Harvey raised demand for crude and eased fears of a fuel supply crunch. Gasoline futures (RBc1) dropped around 4 percent from their last close, to $1.68 per gallon, down from $2.17 on Aug. 31 and back to levels last seen before Harvey hit the U.S. Gulf Coast and its large refining industry. U.S. West Texas Intermediate crude futures (Clc1) jumped by almost 3 percent to $48.64 per barrel by 1320 GMT, their highest levels in two weeks, up $1.35 cents from their last settlement. "Gasoline fell as refineries in Texas began to reopen," said William O'Loughlin, investment analyst at Rivkin Securities. Texas was edging toward recovery from the devastation of Harvey as shipping channels, oil pipelines and refineries restarted some operations. Eight U.S. oil refineries with 2.1 million barrels per day of refining capacity, or 11.4 percent of the U.S. total, were shut as of Monday afternoon, the Department of Energy said.

Copper continues its record run, extending three-year highs on expectations of further signs of a healthy economic outlook for China. Also, nickel is near yesterday’s 14-month peak on China’s robust industrial outlook, aided by supply-side constraints; China is the world’s top user of both copper and nickel. "From a long-term perspective, it's the same drivers, with China's clean-air policies and a stronger yuan versus the dollar seeing the market taking aim at the $7,250 [LME] resistance level,"says Ole Hansen, head of commodity strategy at Saxo Bank. Copper's rally may be running out of steam, however, as rising long positions leave the metal vulnerable to profit-taking, Société Générale (PA:SOGN) says. Houston and the surrounding area in several feet of water.

TRADING STRATEGY :

BUY GOLD ABOVE 1340 TGT 1345 1355 SL BELOW 1330
SELL GOLD BELOW 1330 TGT 1325 1315 SL ABOVE 1340

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 Milnda Manor. Indore

This release was published on openPR.