skip to main |
skip to sidebar
INTERNATIONAL COMMODITY NEWS :
Prices for gold futures fell precipitously on Tuesday, as the U.S. Dollar Index reached its highest level in more than 11 years. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell $5.00 or 0.41% to $1,203.20 a troy ounce, as future prices wavered on a see-saw day of trading. Prices fell below a seven-week low of $1,195 an ounce during European trading, before rebounding to near $1,215 during early trading on U.S. markets. Gold prices then plunged shortly ahead of Benjamin Netanyahu’s address in front of Congress, before remaining steady during the Israeli prime minister’s speech.
TRADING STRATEGY
BUY GOLD ABOVE 1208 TARGET 1213 1219 SL 1202
SELL GOLD BELOW 1201 TARGET 1196 1190 SL 1207
Gold futures rang up a consecutive loss on Tuesday as investors digested a spate of economic reports from a busy week of economic indicators, which culminates with the Friday jobs report.
Gold for April delivery GCJ5, +0.24% fell by $3.80, or 0.3%, to settle at $1,204.40 an ounce on Comex, while May silver SIK5, +0.09% settled down 15.5 cents, or 0.9%, to $16.296 an ounce after a 0.7% loss a day earlier.
INTERNATIONAL COMMODITY NEWS :
Gold prices held steady to lower in early Asia on Tuesday as investors eyed easy monetary policy in China and continued import restriction in India On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.02% to $1,206.40 a troy ounce. Overnight, gold prices slipped on Monday afternoon, after reaching a two-week high, amid conflicting reports about demand from the world’s two largest purchasers of the precious metal. Gold initially rose in morning trading following the release of a spate of economic data in China. For the month of February, the HSBC China Manufacturing PMI rose to 50.7 — up a point from 49.7 in January. China also cut its benchmark interest rate for the second time in less than four months, as a number of economists expect more easing measures to follow throughout the remainder of the year.
TRADING STRATEGY :
BUY GOLD ABOVE 1212 TARGET 1217 1223 SL 1206
SELL GOLD BELOW 1203 TARGET 1197 1191 SL 1209
Gold prices settled lower on Monday, for the first time in four trading sessions, as strength in the U.S. stock market lured investors away from the yellow metal.
Gold for April delivery GCJ5, -0.01% fell $4.90, or 0.4%, to settle at $1,208.20 an ounce on Comex after tallying a gain of roughly 1.3% over the past three trading sessions.
Don’t expect to see much of a climb in gold prices this year, but a spike to $1,700 an ounce or more could come as early as the summer of 2016.
Gold futures prices on Comex closed at $1,210.10 an ounce on Thursday, with the metal stuck in a range of just over $114 an ounce year to date, based on the most-active contracts.
INTERNATIONAL COMMODITY NEWS :
Gold and copper prices were mostly steady on Friday in Asia after Japan reported solid industrial output, but downbeat data on jobs, inflation and retail sales National core CPI in Japan rose 2.2%, below the 2.3% year-on-year for January expected. The unemployment rate in January ticked up to 3.6%, compared to an expected steady rate of 3.4%. Household spending fell 5.1% in January year-on-year. Industrial production month-on-month jumped 4.0%, well above an expected gain of 2.7% and retail sales fell 2.0%, compared to a forecast of down 1.3% year-on-year.
TRADING STRATEGY :
BUY GOLD ABOVE 1211.75 TARGET 1216.75 1222.75 SL 1205.75
SELL GOLD BELOW 1205.5 TARGET 1200.5 1194.5 SL 1211.5
Futures prices for gold rallied for a second straight session on Thursday to mark their highest settlement in more than a week.
Gold for April delivery GCJ5, -0.10% rose $8.60,or 0.7%, to settle at $1,210.10 an ounce on Comex. That was the highest settlement for a most-active contract since Feb. 18.
INTERNATIONAL COMMODITY NEWS :
Gold prices gained on Thursday in Asia as investors eyed physical demand from China. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 0.62% to $1,209.00 a troy ounce. Meanwhile, silver futures for May delivery increased 0.84% t $16.612 a troy ounce. Elsewhere on Comex, copper for May delivery rose 0.33% to $2.654 a pound. Overnight, gold futures reversed most of the gains made in Asia on Wednesday afternoon before settling slightly higher.
TRADING STRATEGY :
BUY GOLD ABOVE 1212 TARGET 1217 1223 SL 1206
SELL GOLD BELOW 1205 TARGET 1200 1194 SL 1211
Gold futures scored their first gain in four sessions on Wednesday, buoyed by comments from Federal Reserve Chairwoman Janet Yellen, a weaker U.S. dollar and signs of rising demand from China.
Gold for April delivery GCJ5, +0.58% rose $4.20, or 0.4%, to settle at $1,201.50 an ounce on Comex. March silver SIH5, +0.70% tacked on 24.2 cents, or 1.5%, to end at $16.43 an ounce.
INTERNATIONAL COMMODITY NEWS :
Gold prices gained in Asia on Wednesday after better than expected HSBC China flash PMI data, but copper lagged as the gains were seen from domestic demand instead of exports. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 1.02% to trade at $1,209.50 a troy ounce. The HSBC China February flash manufacturing PMI jumped to 50.1, well above the expected drop to 49.5 and up from January’s final 49.7.”Domestic demand firmed while new export orders contracted for the first time since April 2014. Both input and output prices remain in contraction,” said Q Hongbin, Chief Economist, China and joint head of Asian economic research at HSBC.”Today’s data point to a marginal improvement in the Chinese manufacturing sector going into the Chinese New Year period in February. However, domestic economic activity is likely to remain sluggish and external demand looks uncertain. We believe more policy easing is still warranted at the current stage to support growth.”
TRADING STRATEGY :
BUY GOLD ABOVE 1211.25 TARGET 1216.25 1222.25 SL 1205.25
SELL GOLD BELOW 1201.25 TARGET 1196.25 1190.25 SL 1207.25
Gold prices on Tuesday edged down but finished off their session low after Federal Reserve Chairwoman Janet Yellen gave testimony to Congress.
Gold for April delivery GCJ5, +0.95% settled down $3.50, or 0.3%, at $1,197.30 an ounce. The contract dropped to an intraday low as Yellen’s prepared remarks hit, but then recovered much of that slide. Still, gold suffered a third straight session of declines, and it finished under the closely watched level of $1,200.
INTERNATIONAL COMMODITY NEWS :
Gold prices rose slightly in early Asia on Tuesday with China markets set to re-open on Wednesday and Greece still to turn over its list of reforms needed to secure further euro zone loans. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 0.14% to trade at $1,203.10. Overnight, Gold futures turned higher on Monday to reclaim the key $1,200-level, after data showed that U.S. existing home sales fell more than expected in January to hit the lowest level in nine months, dampening optimism over the health of the housing market. The National Association of Realtors said earlier that existing home sales decreased 4.9% to 4.82 million units last month from 5.07 million in December. Analysts had expected existing home sales to fall 0.8% to 4.97 million units in January.
TRADING STRATEGY :
BUY GOLD ABOVE 1205 TARGET 1210 1216 SL 1199
SELL GOLD BELOW 1197.50 TARGET 1192.50 1186.50 SL 1203.50
Gold prices settled lower on Monday, but found some support at the key $1,200 level as traders watched developments linked to Greece’s bailout extension.
Gold for April delivery GCJ5, +0.10% fell $4.10, or 0.3%, to settle at $1,200.80 an ounce on Comex. The decline marked a second straight session decline for prices.
Gold prices on Monday showed no signs of bouncing back after last week’s near-2% decline as a flood of economic data and the winding down of earnings season could inject some volatility in metals trading in the coming days.
Gold for April delivery GCJ5, -0.95% gave up $1.90 to drift down to $1,203.90 an ounce.
INTERNATIONAL COMMODITY NEWS :
Oil prices dipped in early Asian trade on Monday after much of the region returned from the Lunar New Year holiday, with Brent futures testing support around $60 a barrel and U.S. contracts hovering around $50.50.Following a steep fall from June 2014 to six-year lows, oil prices have recovered around a third of their value since mid-January, with benchmark Brent contracts jumping almost $20 a barrel to $63 a barrel last week as traders closed long-standing short positions in reaction to a falling U.S. rig count.”U.S. crude oil prices slipped, as markets finally digested another rise in U.S. crude inventories, which offset another week of oil rig count declines,” ANZ bank said on Monday. Benchmark Brent crude futures were trading at $60.07. at 0100 GMT, down 10 cents from their last settlement, while U.S. WTI crude was down 20 cents at $50.61 a barrel. Although both U.S. WTI and international Brent prices dipped in the past week, American contracts have fallen more sharply largely in response to the record inventories.
TRADING STRATEGY :
BUY GOLD ABOVE 1205 TARGET 1210 1216 SL 1199
SELL GOLD BELOW 1197 TARGET 1192 1186 SL 1203
Gold futures rose Friday, lifted by anxiety over Greece’s debt standoff with its eurozone partners, but the yellow metal remained on track for a fourth consecutive weekly decline.
Gold for April delivery GCJ5, -0.36% rose $5.10, or 0.4%, to $1,212.70 an ounce on Comex. March silver SIH5, -0.89% advanced nearly 6 cents, or 0.4%, to $16.44 an ounce.
INTERNATIONAL COMMODITY NEWS :
Gold remained in positive territory on Thursday, as concerns over Greece’s debt woes intensified after Germany rejected a proposed bailout extension request from the Athens. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rallied $15.20, or 1.27%, to trade at $1,215.40 a troy ounce during U.S. morning hours after hitting a session high of $1,222.90. A day earlier, gold fell to $1,197.20, the lowest level since January 5, before settling at $1,200.20, down $8.40, or 0.7%. The Greek government submitted a request for an extension of its existing loan agreement with the euro zone, which it differentiates from its bailout, earlier Thursday. But German Finance Minister Wolfgang Schaeuble said it was “not a substantial proposal for a solution” and did not meet the criteria agreed on at the euro group meeting of euro zone finance ministers on Monday. Greece’s current €240 billion bailout will expire on February 28 and the country will run out of money, which could trigger the country’s exit from the euro zone.
TRADING STRATEGY :
BUY GOLD ABOVE 1210 TARGET 1218 SL 1202
SELL GOLD BELOW 1202 TARGET 1195 SL 1210
Gold futures settled higher on Thursday, rebounding from their lowest close in almost seven weeks on signs the Federal Reserve is in no hurry to hike interest rates.
Gold for April delivery GCJ5, +0.02% tacked on $7.40, or 0.5%, to settle at $1,207.60 an ounce on Comex.
Gold futures settled at their lowest level in nearly seven weeks on Wednesday, then clawed their way back up in the immediate wake of minutes from the Federal Reserve’s January meeting.
Gold for April delivery GCJ5, +1.27% settled at $1,200.20 an ounce on Comex, down $8.40, or 0.7%, on Wednesday — their lowest settlement since Jan. 2, based on the most-active contracts.
INTERNATIONAL COMMODITY NEWS :
Crude oil prices fell in early Asia on Wednesday in holiday-thinned trade for the Lunar New Year and as closely watched data on U.S. supplies may be further delayed. On the New York Mercantile Exchange, crude oil for delivery in April fell 0.20% to trade at $53.87 a barrel. A snow storm closed U.S. Federal government offices in Washington on Tuesday. That may further delay data from industry group, the American Petroleum Institute, on U.S. supplies of crude and refined products that is normally released on Tuesday. As well, more closely watched data from the U.S. Department of Energy has also been delayed from its normal Wednesday release. Industry research group Baker Hughes (NYSE:BHI) said that the number of rigs drilling for oil in the U.S. fell by 84 last week to 1,056, the lowest since August 2011.
TRADING STRATEGY :
BUY GOLD ABOVE 1210 TARGET 1215 1221 SL 1204
SELL GOLD BELOW 1203 TARGET 1198 1192 SL 1209
