Comex Commodity Trading Signals and Market News – 28th April 2014

Gold futures were higher on Friday, supported by renewed tensions between Russia and Ukraine, while markets awaited the release of U.S. consumer sentiment data later in the trading session. On the Comex division of the New York Mercantile Exchange, gold futures for  June delivery traded at $1,300.20 a troy ounce during European afternoon trade, up 0.76%. The June contract settled 0.47% higher on  Thursday to end at $1,290.6 a troy ounce.

Silver comex for May delivery dipped 0.03% to trade at $19.682 a troy ounce, while copper for May delivery edged down 0.09% to trade at $3.118 a pound.

Crude futures fell on Friday after investors sold the commodity for profits, keeping a wary eye on escalating tensions in Ukraine on concerns the standoff could affect shipments from energy-rich Russia. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in June traded at $100.75 a barrel during U.S. trading, down 1.17%. New York-traded oil futures hit a session low of $100.51 a barrel and a high of $102.05 a barrel. The June contract settled up 0.49% at $101.94 a barrel on Thursday.

The ICE Futures Exchange in London, Brent oil futures for June delivery were down 0.57%, trading at US$109.71 a barrel, while the spread between the Brent and U.S. crude contracts stood at US$8.96 a barrel.

A bearish weekly stockpile report revealing a larger-than-expected inventory build in the U.S. sent natural gas prices falling on Friday, as markets priced in a late-season cool snap and avoided the commodity. On the New York Mercantile Exchange, natural gas futures for delivery in June traded at $4.669 per million British thermal units during U.S. trading, down 1.14%. The commodity hit session high of $4.739 and a low of $4.646. The June contract settled down 0.51% on Thursday to end at $4.723 per million British thermal units.

Base metals slipped into the minus column during Friday’s LME premarket session, pulled back by a retracement in the copper market, where prices were unable to extend beyond early six-week highs. In the metals, copper touched $6,780 initially, its best since March 7, but then tracked back to $6,740 per tonne, a $13 loss from Thursday’s kerb. Nickel was consolidating below the previous day’s 14-month high of $18,600, trading at $18,300, a $50 loss. Stocks rose 678 tonnes to 277,734 tonnes.Tin also held under its six-month high of $23,849 yesterday, with business at $23,600, down $125 – there was a five-tonne increase in stocks to 9,450 tonnes. Aluminium has become sidelined below $1,900 in recent sessions – it was recently trading at $1,873, a $4 loss. Stocks jumped 11,875 tonnes to a two-week high of 5,339,325 tonnes due to a 19,125-tonne warranting in Vlissingen. Zinc at $2,059 was $13 lower but stocks dropped 3,100 tonnes to 786,475 tonnes. Lead business at $2,164 was down $4, with inventories falling 1,500 tonnes to 193,275 tonnes, the lowest again since mid-September.


BRENTCRUDEOIL-NYMEX has closed @ 109.49. If it breaks the level of 109.33, it can touch the level of 108.93 & 108.30 respectively. If it sustain above the level of 110.57, it can touch the level of 110.97 & 111.62 respectively.
SELL BRENTCRUDEOIL-NYMEX BELOW 109.33 TGTS 108.93, 108.30 SL 109.93.
BUY BRENTCRUDEOIL-NYMEX ABOVE 110.57 TGTS 110.97, 111.62 SL 109.97

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