Press release
Daily Comex Commodity Report of 9th January 2018 by Epic Research
INTERNATIONAL COMMODITY NEWSGold prices remained lower on Monday, as expectations for upcoming U.S. rate hikes lent support to the dollar despite last Friday's disappointing U.S. employment data. Comex gold futures were down 0.12% at $1,320.60 a troy ounce by 08:25 a.m. ET (12:25 GMT), still within close distance of last week's four-month peak of $1,327.30. The greenback found support after San Francisco Fed President John Williams said on Saturday that the Fed should raise interest rates three times this year given that economy will benefit from tax cuts. The comments came a day after Cleveland Fed President Loretta Mester said she expects about four interest rate hikes this year, thanks to solid U.S. economic growth and low unemployment. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.32% at 92.04, the highest since December 29. Gold is sensitive to moves in the dollar. A stronger dollar makes gold more expensive for holders of foreign currency.
Crude oil prices continued to trade near recent multi-year highs on Monday, helped by news of a decline in U.S. oil rigs, although ongoing concerns over rising U.S. production were expected to limit gains. The U.S. West Texas Intermediate crude February contract was up 5 cents or about 0.08% at $61.51 a barrel by 04:00 a.m. ET (08:00 GMT), not far from last week's two-and-a-half year high of $62.21. Elsewhere, Brent oil for March delivery on the ICE Futures Exchange in London held steady at $67.59 a barrel, still close to the previous session's nearly three-year peak of $68.27. Oil prices remained supported after Baker Hughes on Friday reported a decline by five to 742 in the number of U.S. rigs in the week to January 5. However, optimism was limited by news U.S. production is expected to exceed 10 million barrels per day (bpd) very soon, mainly due to increasing output from shale drillers.
President Donald Trump's administration has proposed opening up nearly all of America's offshore waters to oil and gas drilling, but the industry says it is mainly interested in one part of it, now cordoned off by the Pentagon: the eastern Gulf of Mexico. The industry's focus on an area located near a sprawling network of existing platforms, pipes and ports could ease the path to new reserves, and assuage the drilling opponents near other places offered under the Interior Department's proposed drilling plan issued last week, like California's Pacific, the Atlantic and Arctic. But accessing it would likely require the consent of the U.S. military. The eastern Gulf has been formally off-limits to drilling since 2006 due mainly to the Defense Department's concerns oil development interfere with extensive military testing and training exercises in the area.
TRADING STRATEGY :
BUY GOLD ABOVE 1325 TGT 1330 1340 SL BELOW 1315
SELL GOLD BELOW 1315 TGT 1310 1300 SL ABOVE 1325
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/
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, 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
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 9th January 2018 by Epic Research here
News-ID: 890445 • 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…
More Releases for Fed
Grass Fed Meat Market Consumption Status and Prospects Professional Grass Fed Me …
Global “Grass Fed Meat Market" size to grow with an impressive CAGR over the forecast period from 2021-2028. The report on the Grass Fed Meat industry provides the clients with a comprehensive analysis of crucial driving factors, consumer behavior, growth trends, product utilization, key player analysis, brand positioning, and price patterns. The information on pricing patterns is obtained by analyzing product prices of key players as well as emerging industry…
Global Direct-Fed Microbials Market
Microbes are microscopic living organisms that can exist as single celled organisms or colonies of cells in nature. Some microorganisms are hazardous to both human and animal health, while others are extremely beneficial to both. As a result, direct-fed microorganisms are bacteria that are supplemented orally to provide benefits in animals.
Get sample copy of this report @
https://www.infinitybusinessinsights.com/request_sample.php?id=536263
Increasing demand for…
Global Air-Fed Suits Market Analysis by 2020-2025
Global Info Research offers a latest published report on Air-Fed Suits Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. This report focuses on the key global Air-Fed Suits Concentrate players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
Click to view the full report TOC, figure and tables:
https://www.globalinforesearch.com/Global-Air-Fed-Suits_p510313.html
Market…
Grass Fed Beef Market By Type (Fresh grass-fed beef, Processed grass-fed beef), …
Industry Insights
The grass-fed beef market size is valued at USD 9.55 billion during 2018. Grass-Fed Beef simply means that the cattle were allowed to forage and graze for their own fresh food. They may be given close substitutes like alfalfa during the winter, but unlike grain-fed animals, the emphasis is still on providing the closest thing to a natural diet as possible. Grains are higher in calories and encourage the…
Roll Fed Labels Market Lucrative Opportunities By 2024
Labelling is one of the most important and direct way to communicate between buyers and sellers about product information. As the label industry has shown growth after the downturn and inflation in the price of material, the financial feasibility of both material suppliers and film converters has become a crucial question.
In-spite of the challenges, opportunities and scope for innovation continue to drive the label market. The roll fed labeling…
Fed Microbial Market
Persistence Market Research presents a detailed forecast of the global fed microbial market in a new publication titled “Fed Microbial Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025).” In this report, Persistence Market Research tracks the performance of the global fed microbial market across five key geographies and highlights the segmental performance of the global market based on a detailed market taxonomy. According to the forecast,…
