6May

Comex Commodity Trading Signals and Market News – 06th May 2014

INTERNATIONAL COMMODITY NEWS

Gold prices edged higher in Asia on Tuesday underscored by tension in the Ukraine and demand from China.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery traded at $1,311.80 a troy ounce, up 0.19%, after hitting an overnight session low of $1,299.70 and off a high of $1,315.70. Gold prices rose earlier after a final reading of China’s HSBC manufacturing purchasing managers’ index came in at 48.1 April, down from a preliminary estimate of 48.3 and missing forecasts for an uptick to 48.4. A reading below 50 indicates a contraction.

Silver comex for July delivery rose 0.14% at $19.598 a troy ounce. copper futures for July delivery were down 0.07% at $3.056 a pound.

Crude oil prices were flat to slightly weaker in Asia on Tuesday ahead of industry data on U.S. stocks and bearish sentiment on China demand. Last week, crude stocks gained by 3 million barrels , according to the American Petroleum Institute. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in June traded at $99.46 a barrel, down 0.03%, after hitting an overnight session low of $98.97 a barrel and a high of $100.43 a barrel.

Natural gas prices rose on Monday after bottom fishers snapped up nicely-priced positions in the commodity and erased losses stemming from last week’s bearish supply report. On the New York Mercantile Exchange, natural gas futures for delivery in June traded at $4.703 per million British thermal units during U.S. trading, up 0.61%. The commodity hit session high of $4.765 and a low of $4.652. The June contract settled down 0.95% on Friday to end at $4.674 per million British thermal units.

The ICE Brent oil futures contract fell 87 cents, or 0.8%, to $107.72 a barrel, the lowest settlement since April 11,on the ICE Futures Europe exchange.

TRADING STRATEGY :

SILVER-COMEX has closed @ 19.59. If it sustain above the level of 19.60, it can touch the level of 19.75 & 19.91 respectively. If it breaks the level of 19.29, it can touch the level of 19.14, 18.98 respectively.

• BUY SILVER-COMEX ABOVE 19.60 TGTS 19.75, 19.91 SL 19.35.
• SELL SILVER-COMEX BELOW 19.29 TGTS 19.14, 18.98 SL 19.54.

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED

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