Comex Report By Epic Research 15 April 2019


 Gold and the dollar are offsetting each other’s strength as neither seem to have an overwhelming edge now. Prices for bullion and gold futures diverged in a rare performance on Friday as investors tried to discern direction for the yellow metal amid conflicting data and fundamentals. Spot gold, reflective of trades in bullion, was down $1.20, or 0.1%, at $1,291.52 an ounce by 1:50 PM ET (17:50 GMT). Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, settled the official session up $1.90, or 0.1%, at $1,295.20 per ounce and finished the week basically flat. The divergence came as the U.S. dollar index, which measures the greenback against six rival currencies, fell 0.23% to 96.58. The yield on the 10-Year Treasury, meanwhile, advanced 4.5 basis points to 2.55%.

 The Trump administration is weighing a plan that could force some of the nation’s biggest oil companies to come clean about their bids to dodge U.S. biofuel mandates. The Environmental Protection Agency said in a notice Friday it was opening a 15-day window for the public to comment on whether it should reveal “basic information” about refineries seeking waivers from annual biofuel quotas, including the names of the companies and facilities seeking the exemptions. For years, the agency has kept those details private, claiming they are confidential business information. A surge in waivers,- including some issued to refineries connected to major oil companies, has spurred complaints from biofuel advocates demanding more transparency. If oil companies “aren’t willing to put their names on waiver requests claiming that they can’t fairly compete in their markets, even as they are reporting record high profitability, then they shouldn’t submit them.” Gene Gebolys, the president of World Energy Alternatives LLC, said in an email.

 The United States approved nearly 40 percent more oil and gas drilling permits on public lands in 2018 than it did the previous year thanks to an automated online system introduced in the waning days of the Obama administration, helping reduce a big backlog of applications. President Donald Trump has made it a priority to speed permitting and reduce regulation as a way to boost production of oil, gas and coal from public lands – an agenda that has pleased the energy and mining industries but outraged environmentalists concerned about pollution and climate change. The Department of Interior’s Bureau of Land Management approved 3,991 drilling permits in fiscal 2018, up from 2,887 in 2017, the agency said, an increase of 38 percent. The average time to process an application to drill with BLM was cut nearly in half to 63 days from 120 days in 2017.


BUY GOLD ABOVE 1295 TGT 1300 1310 SL BELOW 1285

SELL GOLD BELOW 1285 TGT 1280 1270 SL ABOVE 1295

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