Daily Comex Commodity Report of 25 January 2018 by Epic Research

INTERNATIONAL COMMODITY NEWS

Gold prices was hovering at four-month highs on Wednesday, as the U.S. dollar broadly weakened amid mounting concerns regarding the global ramifications of U.S. President Donald Trump's protectionist agenda. Comex gold futures were up 1.14% at $1,352.10 a troy ounce by 08:30 a.m. ET (12:30 GMT), the highest since since September. The greenback came under broad selling pressure after White House officials on Tuesday said that President Trump was planning on using his speech at the World Economic Forum in Davos on Friday to underline his "America First" policies. Such policies include a potential withdrawal from the North American free-trade agreement and disavowing the global climate change accord. The dollar only briefly rebounded after Congress approved a measure on Monday to fund the government for around three weeks and President Donald Trump signed the bill, ending the three-day government shutdown.

Natural gas futures continued higher for the third day in a row on Wednesday, reaching their strongest level in more than a year, boosted by forecasts that call for frigid temperatures again in parts of the U.S. during early February. Frontmonth U.S. natural gas futures surged 13.5 cents, or around 3.9%, to $3.579 per million British thermal units (btu) by 8:40AM ET (1340GMT). It rose to a 13-month high of $3.628 in the prior session. The commodity rallied 6.8% on Tuesday to its highest level since Dec. 30, 2016, as forecasts for frigid temperatures across the U.S. east coast during early February boosted demand expectations. Mild conditions will dominate the southern and eastern U.S. through Feb. 3rd, then become much colder as frigid Arctic air pours into the region, according to updated weather models. Temperatures throughout the central U.S. and Midwest will also fall to below seasonal levels through Feb. 6 as Arctic blasts sweep through.

The first call, from someone claiming to belong to the Michoacan Family drug cartel, came in February 2015. "They said they knew who I was and where I lived," said Alberto Arredondo, who got the call at work as a pump technician at an oil refinery in the central Mexican city of Salamanca. "They wanted information.“ At first, Arredondo hung up. "But they were insistent," he said, calling back and demanding details of when fuels would be pumped and through which pipelines. Over the next two years, Arredondo said, he would be hounded, kidnapped, pistol-whipped and stabbed so severely that surgeons removed his gall bladder. In December 2016, he fled to Canada, where he now seeks asylum from gangs that steal fuel from Salamanca and five other refineries operated by Pemex [PEMX.UL], the state-owned oil company.

TRADING STRATEGY :

BUY GOLD ABOVE 1360 TGT 1365 1375 SL BELOW 1350
SELL GOLD BELOW 1350 TGT 1345 1335 SL ABOVE 1360

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