INTERNATIONAL COMMODITY NEWS

Gold prices moved higher on Friday, as sentiment on the U.S. dollar remained vulnerable ahead of a key U.S. employment report due to be released later in the day. Comex gold futures were up 0.28% at $1,351.60 a troy ounce by 03:00 a.m. ET (07:00 GMT). Market participants were looking ahead to the U.S. nonfarm payrolls report due later Friday, for further indications on the strength of the job market. The greenback briefly rebounded after the Fed, at the conclusion of its policy meeting on Wednesday, signaled its confidence about inflation and growth in the U.S. The Fed said that inflation is likely to rise this year, boosting expectations for further interest rate hikes under incoming central bank head Jerome Powell. The Fed left rates unchanged on Wednesday, in widely expected move. The meeting was current Fed chair Janet Yellen's last. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was little changed at 88.53.

Surging shale oil production in Texas and North Dakota is being felt on trading desks in Chicago, Houston and New York, where a brisk business in West Texas Intermediate crude futures is far outpacing contracts for London-basedBrent crude. As the United States approaches a record 10.04 million barrels of daily production, trading volumes of so-called "WTI" futures exceeded volumes of Brent crude in 2017 by the largest margin in at least seven years. A decade ago, falling domestic production and a U.S. ban on exports meant that WTI served mostly as a proxy for U.S. inventory levels. "There was a time when the U.S. was disconnected from the global market," said Greg Sharenow, portfolio manager at PIMCO, who comanages more than $15 billion in commodity assets. Two changes drove the resurgence of the U.S. benchmark.

Natural gas futures declined on Thursday, falling to the lowest levels of the session after data showed that domestic supplies in storage fell less than forecast last week. Front-month U.S. natural gas futures sank 14.2 cents, or around 4.7%, to $2.853 per million British thermal units (btu) by 10:32AM ET (1532GMT), the weakest level since Jan. 9. Futures were at around $2.888 prior to the release of the supply data. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. fell by 99 billion cubic feet (bcf) in the week ended Jan. 26, below forecasts for a withdrawal of 104 bcf. That compared with a decline of 288 bcf in the preceding week, a fall of 87 bcf a year earlier and a five-year average drop of 160 bcf. Total natural gas in storage currently stands at 2.197 trillion cubic feet (tcf), according to the U.S. Energy Information Administration.


The Grs Solution Is a leading financial advisory services provider firm .We have designed services for different investors as per their needs like equity tips, comex tips, stock tips, commodity 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 The Grs family. Happy trading.

https://www.thegrssolution.com/freetrial
or

Also you can Whatsapp us at :7581936107