MTECHTIPS:- Gold to trade positive


MTECHTIPS:-  Gold to trade positive

MTECHTIPS-Gold rose to the highest in nearly 10 months on Friday after U.S. job growth slowed more than expected in August, but pared gains when investors judged that the figures were unlikely to change the outlook for U.S. interest rate rises. Data  showed  U.S.  job growth slowed  more than expected, but the pace of  gains  should  be more than enough for the Federal Reserve to announce a  plan to  start trimming a massive bond portfolio accumulated. We expect gold prices to trade positive on the back of US non – farm  payroll employment data

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MTECHTIPS:- Gold to trade positive


MTECHTIPS:-  Gold to trade positive

MTECHTIPS-Gold rose to the highest in nearly 10 months on Friday after U.S. job growth slowed more than expected in August, but pared gains when investors judged that the figures were unlikely to change the outlook for U.S. interest rate rises. Data  showed  U.S.  job growth slowed  more than expected, but the pace of  gains  should  be more than enough for the Federal Reserve to announce a  plan to  start trimming a massive bond portfolio accumulated. We expect gold prices to trade positive on the back of US non – farm  payroll employment data

MTECHTIPS:- Oil struggles, gasoline pulls back as refineries restart after Harvey


MTECHTIPS:- Oil struggles, gasoline pulls back as refineries restart after Harvey

MTECHTIPS-Oil prices struggled on Monday, while gasoline futures slumped on signs that the damage from storm system Harvey to the Gulf coast energy infrastructure was not as bad as initially feared. Aside from supply and demand, investors also closely followed developments in the U.S.-North Korea standoff. The U.S. West Texas Intermediate crude October contract was at $47.31 a barrel by 3:15 AM ET (0715 GMT), little changed on the day. U.S. crude futures slipped to their fifth-straight weekly loss last week, ending down 58 cents, or nearly 1.2%. Meanwhile, Brent oil for November delivery on the ICE Futures Exchange in London declined 37 cents, or 0.7%, to $52.38 a barrel. Elsewhere, gasoline futures for October sank 5.3 cents, or roughly 3%, to $1.690 a gallon. It rallied to a two-year high of $2.139 last Thursday on fears of supply shortages. About 5.5% of the U.S. Gulf of Mexico’s oil production, or 96,000 barrels of daily output, remained shut on Sunday after storm system Harvey made landfall in Texas more than a week ago, the federal Bureau of Safety and Environmental Enforcement said. Affected output is down significantly from the peak of around 25%, or 428,568 bpd, on Aug. 26 as evacuated workers returned and activity resumed.

MTECHTIPS:- Oil struggles, gasoline pulls back as refineries restart after Harvey


MTECHTIPS:- Oil struggles, gasoline pulls back as refineries restart after Harvey

MTECHTIPS-Oil prices struggled on Monday, while gasoline futures slumped on signs that the damage from storm system Harvey to the Gulf coast energy infrastructure was not as bad as initially feared. Aside from supply and demand, investors also closely followed developments in the U.S.-North Korea standoff. The U.S. West Texas Intermediate crude October contract was at $47.31 a barrel by 3:15 AM ET (0715 GMT), little changed on the day. U.S. crude futures slipped to their fifth-straight weekly loss last week, ending down 58 cents, or nearly 1.2%. Meanwhile, Brent oil for November delivery on the ICE Futures Exchange in London declined 37 cents, or 0.7%, to $52.38 a barrel. Elsewhere, gasoline futures for October sank 5.3 cents, or roughly 3%, to $1.690 a gallon. It rallied to a two-year high of $2.139 last Thursday on fears of supply shortages. About 5.5% of the U.S. Gulf of Mexico’s oil production, or 96,000 barrels of daily output, remained shut on Sunday after storm system Harvey made landfall in Texas more than a week ago, the federal Bureau of Safety and Environmental Enforcement said. Affected output is down significantly from the peak of around 25%, or 428,568 bpd, on Aug. 26 as evacuated workers returned and activity resumed.

MTECHTIPS:- Gold jumps to 12-month high after latest North Korea missile test


MTECHTIPS:- Gold jumps to 12-month high after latest North Korea missile test

MTECHTIPS – Gold prices rallied to their highest level in around twelve months on Monday, as investors piled into safe-haven assets after North Korea said it tested a hydrogen bomb over the weekend. Geopolitical risks tend to boost demand for safe-haven assets such as gold, which is considered a good store of value during volatility in other markets. Comex gold futures jumped $11.90, or around 0.9%, to $1,342.30 a troy ounce by 2:45 AM ET (0645 GMT), after touching its best level since September 27, 2016 at $1,343.50 earlier. Gold climbed on Friday, tallying a weekly gain of more than 2%. Elsewhere on the Comex, silver futures climbed 12.3 cents, or around 0.7%, to $17.93 a troy ounce, the strongest level since April 25. North Korea conducted its sixth and most powerful nuclear test to date on Sunday, which it said was a successful detonation of an advanced hydrogen bomb, in a dramatic escalation of the isolated state’s stand-off with the U.S. and its allies

MTECHTIPS:- Gold jumps to 12-month high after latest North Korea missile test


MTECHTIPS:- Gold jumps to 12-month high after latest North Korea missile test

MTECHTIPS – Gold prices rallied to their highest level in around twelve months on Monday, as investors piled into safe-haven assets after North Korea said it tested a hydrogen bomb over the weekend. Geopolitical risks tend to boost demand for safe-haven assets such as gold, which is considered a good store of value during volatility in other markets. Comex gold futures jumped $11.90, or around 0.9%, to $1,342.30 a troy ounce by 2:45 AM ET (0645 GMT), after touching its best level since September 27, 2016 at $1,343.50 earlier. Gold climbed on Friday, tallying a weekly gain of more than 2%. Elsewhere on the Comex, silver futures climbed 12.3 cents, or around 0.7%, to $17.93 a troy ounce, the strongest level since April 25. North Korea conducted its sixth and most powerful nuclear test to date on Sunday, which it said was a successful detonation of an advanced hydrogen bomb, in a dramatic escalation of the isolated state’s stand-off with the U.S. and its allies