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Daily Comex Commodity Report of 14 September 2017 by Epic Research

09-14-2017 08:53 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Epic Research

INTERNATIONAL COMMODITY NEWS

Gold prices held onto gains on Wednesday, as caution returned to markets amid lingering fears over tensions between the U.S. and North Korea and as the U.S. dollar moved lower. Comex gold futures was up $4.82 or about 0.36% at $1,337.41 a troy ounce by 08:35 a.m. ET (12:35 GMT). Market sentiment was mildly supported as Hurricane Irma appeared to have caused less damage than feared and in the absence of any new provocations from North Korea. Irma, which had hammered the Caribbean late last week andwas one of the most powerful Atlantic hurricanes, weakened to a tropical depression, easing concerns over the severity of its financial impact. Market participants seemed to shrug off North Korea’s rejection of sanctions imposed by the U.N. Security Council. The Security Council voted unanimously on Monday to step up sanctions on the peninsula, in response to its sixth nuclear test.

Oil prices trimmed gains on Wednesday, after the U.S. Energy Information Administration reported a larger than forecast U.S. oil inventory build last week. U.S. crude oil was up 39 cents or 0.89% at $48.63 a barrel at 10.35 ET from around $48.75 ahead of the report. Global benchmark Brent futures were at $54.38 a barrel, up 11 cents or 0.2% from $54.59 earlier. Crude oil inventories rose by 5.88 million barrels last week, the EIA said. That was compared to forecasts for a stockpile build of 3.2 million barrels after a build of 4.58 million barrels in the previous week. The report also showed that gasoline inventories fell by 8.42 million barrels, compared to expectations for a decline of 2.05 million barrels, while distillate stockpiles dropped by3.21 million barrels, compared to forecasts for a decrease of 1.53 million. The report came after industry group the American Petroleum Institute said that U.S. oil inventories increased by 6.2 million barrels last week.

U.S. natural gas futures extended this week's rally into a third day on Wednesday, hitting their strongest level in around two weeks as investors looked ahead to weekly data from the U.S. on supplies in storage to weigh what the impact of recent storm activity was on supply and demand. U.S. natural gas for October delivery was at $3.056 per million British thermal units by 9:05AM ET (1305GMT), up 5.5 cents, or around 1.9%, after hitting its best level since Sept. 1 at $3.064 earlier. Futures climbed 5.1 cents, or 1.7%, on Tuesday as concerns over the impact of Hurricane Irma faded away. Natural gas prices have gained around 6% so far this week after Hurricane Irma struck the U.S. southeast with less force than once feared, easing worries over a hit to energy demand.

TRADING STRATEGY :

BUY GOLD ABOVE 1330 TGT 1335 1345 SL BELOW 1320
SELL GOLD BELOW 1315 TGT 1310 1300 SL ABOVE 1335

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/

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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

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