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Daily Comex Commodity Report of 16th November 2017 by Epic Research

11-16-2017 09:36 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Epic Research

INTERNATIONAL COMMODITY NEWS

Gold climbed to one-month highs on Wednesday, as the U.S. dollar remained under broad selling pressure despite the release of positive U.S. inflation and retail sales reports. Comex gold futures were up $5.47 or about 0.42% at $1,288.08 a troy ounce by 08:45 a.m. ET (12:45 GMT). The U.S. Commerce Department said consumer prices rose 0.1% in October, in line with forecasts. A separate report showed that U.S. retail sales increased by 0.2% last month, just above expectations for a more modest gain of 0.1%. On a less positive note however, the New York Federal Reserve reported that its Empire State manufacturing index fell 11 points to 91.4 in November, compared to analysts forecast for a reading of 26.00. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.43% at 93.33, the lowest since October 20.

Russia's Rosneft (MM:ROSN), the world's top listed oil company by output, sees the exit from a global oil productioncutting deal as a serious challenge, a spokesman for the firm said. Russian Energy Minister Alexander Novak met Russian oil company executives in Moscow on Wednesday ahead of talks in Vienna at the end of November between OPEC and nonOPEC producers. The ministry said Russian domestic oil producers are committed to a global deal to cut oil output. It said Novak and the companies would continue consultations on the global oil market situation. Another meeting was scheduled in a week, oil company officials told reporters. "The discussions are continuing," said Alexander Dyukov, the head of Gazprom Neft (MM:SIBN). "The agreement that was signed and has been effective since July ... not so much time has passed since.

Natural gas futures were higher on Wednesday, snapping a two-day losing streak as investors looked ahead to weekly data from the U.S. on supplies in storage to gauge demand for the fuel. U.S. natural gas futures tacked on 2.2 cents, or around 0.7%, to $3.123 per million British thermal units by 8:55AM ET (1355GMT). It reached a more than one-week low of $3.064 in the last session. Futures lost 2% on Tuesday amid forecasts for less heating demand through the end of this month. Gas futures often reach a seasonal low in late October and early November, when mild weather weakens demand, before recovering in the winter, when heating-fuel use peaks. The heating season from November through March is the peak demand period for U.S. gas consumption.

TRADING STRATEGY :

BUY GOLD ABOVE 1285 TGT 1290 1300 SL BELOW 1280
SELL GOLD BELOW 1265 TGT 1260 1250 SL ABOVE 1270

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, commodity 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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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, commodity 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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