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Daily Comex Commodity Report of 29 January 2018 by Epic Research



INTERNATIONAL COMMODITY NEWS

Gold prices eased from 17-month highs after the dollar moved off session lows as Treasury Secretary Steven Mnuchin attempted to resolve uncertainty surrounding his comments earlier this week on dollar. Gold futures for February delivery on the Comex division of the New York Mercantile Exchange fell by $13.30, or 0.98%, to $1,349.60 a troy ounce. “Well, I think you know, people have misinterpreted some of my comments about the dollar this week,” Mnuchin told Yahoo Finance. “I was very clear I’m not making comments about where the dollar is in the short term. I’m not going to make comments about where the stock market would be. But I respect what the president said.” That comes a day after President Donald Trump had said that dollar "will get stronger and stronger.“ The dollar remained on track to post weekly loess, however, amid data showing durable goods and US economic growth undershot economists’ forecasts.

The Syrian opposition will not attend a peace conference Russia is hosting next week, a spokesman said on Saturday, dismissing the meeting as an attempt by the Syrian government's close ally to "sideline" the current United Nations peace process. He was speaking at the end of two days of U.N.-brokered talks between the Syrian government and opposition, after which the host said the United Nations had not decided whether to attend the conference in the Black Sea resort of Sochi. Western powers and some Arab states believe Sochi is an attempt to create a separate peace process that would undermine the United Nations' efforts while laying the groundwork for a solution more suitable to Assad and his allies Russia and Iran. "This whole round in Vienna was supposed to be a crucial one, a test for commitment. And we didn't see this commitment.

Copper mining deals are off to the best start in at least 12 years -- and more money could be pouring into the sector this year. More than $500 million in transactions are pending or were completed so far this month, the most recorded for January in Bloomberg data going back 12 years. Merger interest is picking up after years of under-investment limited mining companies’ capacity to meet rising demand for the metal, Stephen Gill, a managing partner at Pala Investments, said by phone. “We see the large mining companies indicating their need to buy growth,” said Gill, whose mining and metalsfocused investment company is the biggest shareholder in Nevada Copper Corp. “Due to years of under-investment, their project pipelines are now empty and can only be replenished through acquisition as it takes years to develop, permit and build a new copper mine.”

TRADING STRATEGY :

BUY GOLD ABOVE 1360 TGT 1365 1375 SL BELOW 1350
SELL GOLD BELOW 1345 TGT 1340 1330 SL ABOVE 1355

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News Release: Daily Comex Commodity Report of 29 January 2018 by Epic Research
Submitted on: January 29, 2018 04:12:49 AM
Submitted by: EpicResearch
On behalf of: www.epicresearch.co/
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