Daily Comex Commodity Report of 25 September 2017 by Epic Research

INTERNATIONAL COMMODITY NEWS

Gold prices rose on Friday amid an uptick in safe-haven demand as North Korean leader Kim Jong Un vowed to make a "mentally deranged" Trump pay dearly for an earlier threat to “totally destroy” North Korea if threatened. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose by $5.95, or 0.46%, to $1,300.75 a troy ounce. U.S. – North Korea relations further strained on Friday, fueling demand for safe-haven gold after North Korea said it might test a hydrogen bomb over the Pacific Ocean. The prospect of North Korea carrying out yet another act of provocation comes amid Kim Jong Un’s brazen pledge to make a "mentally deranged" Trump pay dearly for an earlier threat to “totally destroy” North Korea if it threatened America or its allies.

Crude oil prices settled higher on Friday as investors shrugged off the outcome of an Opec-led meeting in which oil producers failed to reach a decision to extend the production-cut agreement. On the New York Mercantile Exchange crude futures for November delivery rose 11 cents to settle at $50.66 a barrel, while on London's Intercontinental Exchange, Brent gained 27 cents to trade at $56.70 a barrel. As was widely expected, members of the Organization of the Petroleum Exporting Countries (Opec) and other major producers failed to reach a decision to extend output cuts beyond March 2018. Russia’s energy minister suggested that January is the earliest date that an extension to the global accord can be considered, as it allows ample time to assess the state of the market.

U.S. natural gas futures initially extended losses in North American trade on Thursday, after data showed that natural gas supplies in storage in the U.S. rose more than expected last week. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 97 billion cubic feet in the week ended September 15, while analysts had forecast an increase of just 91 billion. Natural gas for delivery in October on the New York Mercantile Exchange lost 10.9 cents, or about 3.5%, to trade at $2.985 per million British thermal units by 10:32AM ET (14:32GMT). Futures had been falling 6.6 cents, or around 2.1%, at $3.029 prior to the release of the supply data. That compared with a build of 91 billion cubic feet (bcf) in the preceding week and represented a decline of 136 billion from a year earlier but was 67 bcf above the five-year average.

TRADING STRATEGY :

BUY GOLD ABOVE 1300 TGT 1305 1315 SL BELOW 1290
SELL GOLD BELOW 1280 TGT 1275 1265 SL ABOVE 1290

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