Daily Comex Report of 13 March 2018 by Epic Research

International Commodity News

Gold prices turned lower on Monday, as market sentiment remained supported by expectations for a less aggressive rate hike policy by the Federal Reserve. Comex gold futures were down 0.52% at $1,317.1 a troy ounce by 08:05 a.m. ET (12:05 GMT). The dollar initially strengthened after the Labor Department reported on Friday that the U.S. economy added 313,000 jobs last month, beating economists’ forecasts of 200,000. It was the largest monthly increase in one-and-ahalf years. However the report also showed that average hourly earnings rose by just 0.1% in February for an annual rate of 2.6%, down from 2.8% in January. The slowdown in wage growth dampened expectations for four rate hikes by the Federal Reserve this year. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 90.13, not far from Friday's one-week highs of 90.36.

Natural gas futures edged higher to start the week on Monday, boosted by forecasts for a bump in late-winter heating demand. Front-month U.S. natural gas futures tacked on 3.0 cents, or around 1.1%, to $2.763 per million British thermal units (btu) by 7:45AM ET (1145GMT). The commodity notched a gain of around 1.4% last week, its third such advance in a row, as weather forecasting models pointed to colder weather over the eastern U.S. through mid-March. Despite recent gains, market experts warned that futures are likely to remain vulnerable in the near-term as the coldest part of the winter has effectively passed. Spring usually sees the weakest demand for natural gas in the U.S, as the absence of extreme temperatures curbs demand for heating and air conditioning. The heating season from November through March is the peak demand period for U.S. gas consumption.

Norwegian employers and labor unions embarked on four weeks' of wage talks on Monday to stave off widespread strikes that risk impacting output in western Europe's biggest crude producer. Unlike most years, in which wages are set on an industry-by-industry basis to reduce complexity, the 2018 round rolls a majority of private sector firms into a single negotiation in a bid to resolve a stand-off over pension reform. "We've understood that there is no real will among employers to compromise from the outset," labor union negotiator Asle Reime, who will represent oil workers, told Reuters ahead of the talks. "Pension rights are important to all workers regardless of which industry they are in, that's why I think there is more weight behind the demands this year and also more willingness to strike," he added.

Trading Strategy:

BUY GOLD ABOVE 1325 TGT 1330 1340 SL BELOW 1315
SELL GOLD BELOW 1310 TGT 1305 1295 SL ABOVE 1320

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Epic Research Limited is a leading financial advisory firm .We have designed services for different investors as per their needs like equity tips, comex tips, stock market tips, commodity tips, intraday 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.

411, Milinda Manor Indore

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