Comex Market

10Jul

Comex Commodity Trading Signals and Market News – 10 July 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices gained in Asia on Thursday as the dollar lost ground on expectations for continued low rates in the U.S. even after the Federal Reserve ends its asset-purchase program. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,327.70 a troy ounce, up 0.26%, after hitting an overnight session low of $1,318.90 and off a high of $1,328.30.

Silver for September delivery was up 0.37% at $21.145 a troy ounce. Copper futures for September delivery were down 0.05% at $3.252 a pound.

Crude oil prices fell in Asia on Thursday as ample global supplies outweighed a sharper that expected drop in U.S. crude stocks. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in August traded at $101.87 a barrel, down 0.42%, after hitting an overnight session low of $102.11 a barrel and a high of $103.59 a barrel.

Brent oil prices fell 66 cents to $108.28 a barrel on the ICE Futures Europe exchange.

Natural gas futures came off session lows in Wednesday trading as investors weighed below-normal temperatures across the eastern U.S. and uncertainty over Thursday’s weekly supply report. On the New York Mercantile Exchange, natural gas futures for delivery in August traded at $4.215 per million British thermal units during U.S. trading, up 0.26%. The commodity hit a session high of $4.229 and a low of $4.168. The August contract settled down 0.50% on Tuesday to end at $4.204 per million British thermal units.

• Fund activity helped to push metal prices higher during Tuesday morning pre-market sessions, with CTA buying propelling nickel, aluminium and zinc, while copper also resumed it’s increase. The copper price at $7,175 was up $19.50 on the previous day’s close, while stocks were down a net 1,300 tonnes to 158,050 tonnes and cancelled warrants fell 1,925 tonnes to 31,075 tonnes. The zinc price remains strong – it last traded at $2,279, an increase of $16 and the highest since August 2011 as it finds ongoing support from fund activity. The lead price at $2,198 was up $6 – although it had earlier peaked at $2,203 – stocks were unchanged again. Tin at $22,674 was down $1, as stocks were up 25 tonnes to 11,850 tonnes. Nickel prices continue to find support from the Indonesian export ban uncertainty. The Indonesian government is set to hold presidential elections tomorrow, which will have ramifications for the ban on ore exports. Last at $19,531 it was up $221 and stocks fell 114 tonnes to 305,280 tonnes.

TRADING STRATEGY :

PLATINUM-COMEX has closed @ 1500.75. If it sustain above the level of 1510, it can touch the level of 1518 & 1529 respectively. If it breaks the level of 1493, it can touch the level of 1485, 1474 respectively.

  • BUY PLATINUM-COMEX ABOVE 1510 TGTS 1518, 1529 SL 1500.
  • SELL PLATINUM-COMEX BELOW 1493 TGTS 1485, 1474 SL 1503.

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

9Jul

Comex Commodity Trading Signals and Market News – 09 July 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices gained in Asia on Wednesday as investors continued to see bargains ahead of U.S. Federal Reserve minutes. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at 1$,320.60 a troy ounce, up 0.31%, after hiting an overnight session low of $1,314.40 and off a high of $1,325.70.

Silver for September delivery was up 0.37% at $21.090 a troy ounce. Copper futures for September delivery were down 0.27% at $3.252 a pound.

Crude prices gained in Asia on Wedneday on bullish weekly industry data on U.S. stockpiles. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in August traded at $103.46 a barrel, up 0.06%, aftr hitting an overnight session low of $103.02 a barrel and a high of $104.13 a barrel.

Brent oil crude on the ICE future exchange fell $1.30, or 1.2%, to settle at $108.94 a barrel on Tuesday.

Natural gas futures fell on Tuesday after updated weather-forecasting models called for a below-normal temperatures over portions of the eastern U.S., which could prompt households to throttle back on their air conditioning. On the New York Mercantile Exchange, natural gas futures for delivery in August traded at $4.139 per million British thermal units during U.S. trading, down 2.05%. The commodity hit a session high of $4.233 and a low of $4.131. The August contract settled down 4.11% on Monday to end at $4.225 per million British thermal units.

• Fund activity helped to push metal prices higher during Tuesday morning pre-market sessions, with CTA buying propelling nickel, aluminium and zinc, while copper also resumed it’s increase. The copper price at $7,175 was up $19.50 on the previous day’s close, while stocks were down a net 1,300 tonnes to 158,050 tonnes and cancelled warrants fell 1,925 tonnes to 31,075 tonnes. The zinc price remains strong – it last traded at $2,279, an increase of $16 and the highest since August 2011 as it finds ongoing support from fund activity. The lead price at $2,198 was up $6 – although it had earlier peaked at $2,203 – stocks were unchanged again. Tin at $22,674 was down $1, as stocks were up 25 tonnes to 11,850 tonnes. Nickel prices continue to find support from the Indonesian export ban uncertainty. The Indonesian government is set to hold presidential elections tomorrow, which will have ramifications for the ban on ore exports. Last at $19,531 it was up $221 and stocks fell 114 tonnes to 305,280 tonnes.

TRADING STRATEGY :

COPPER-COMEX has closed @ 3.2590. If it breaks the level of 3.2480, it can touch the level of 3.2360 & 3.2190 respectively. If it sustain above the level of 3.2830, it can touch the level of 3.2950, 3.3120 respectively.

  • SELL COPPER-COMEX BELOW 3.2480 TGTS 3.2360, 3.2190 SL 3.2610.
  • BUY COPPER-COMEX ABOVE 3.2830 TGTS 3.2950, 3.3120 SL 3.2700.

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

8Jul

Comex Commodity Trading Signals and Market News – 08 July 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices rebounded in Asia on Tuesday as bargain hunters snapped up the yellow metal. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,318.70 a troy ounce, up 0.13%, after hitting an overnight session low of $1,312.50 and off a high of $1,321.70.

Silver for September delivery rose 0.11% at $21.038 a troy ounce. Copper futures for September delivery were down 0.18% at $3.253 a pound.

Crude oil prices eased in Asia on Tuesday as the global supply situation looked ample with events in Libya and Iraq off the boil for now. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in August traded at $103.42 a barrel, down 0.11%, after hitting an overnight session low of $103.21 a barrel and a high of $104.08 a barrel.

Brent oil on the ICE futures exchange fel 0.4%, to $110.24 a barrel on Monday, down for six-straight sessions in the longest losing streak since April 2013.

Natural gas futures fell on Monday on concerns that this week’s supply report will show soft demand for the commodity, while a reprieve from a heat wave also pressured prices lower. On the New York Mercantile Exchange, natural gas futures for delivery in August traded at $4.209 per million British thermal units during U.S. trading, down 3.63%. The commodity hit a session high of $4.355 and a low of $4.201. The August contract settled up 1.12% on Thursday to end at $4.406 per million British thermal units. Markets were closed on Friday for the U.S. Independence Day holiday.

Base metals trading was slow this Tuesday, with the complex mostly in sideways trading on thin volume in the absence of data drivers and cautious on event risks. Copper at $7,117 per tonne is $18 down from Monday’s close. Less than 1,000 contracts have changed hands so far and prices have slid to a low of $7,110 this morning. Aluminium at $1,919 is down $6; stocks declined 10,700 tonnes to 5,038,525 tonnes, the lowest since October 2012, while cancelled warrants fell 9,175 tonnes to 2,965,600 tonnes. Zinc , which had jumped to 33-month highs last week of $2,270.25, held below those levels – it concluded at $2,263 on Monday and is now $5 lower at $2,258 per tonne. Stocks fell 1,000 tonnes to 663,650 tonnes, the lowest since December 2010. Lead lost $8 to $2,185 with no changes in stocks. Nickel declined $70 to $19,251 while Tin at $22,645 is down $30; concerns are up over the upcoming presidential elections in Indonesia as traders are cautious over the possibility of change to the ore export ban, ANZ Banks said in its report.

TRADING STRATEGY :

BRENTCRUDEOIL-NYMEX has closed @ 109.90. If it breaks the level of 109.46, it can touch the level of 108.96 & 108.26 respectively. If it sustain above the level of 111.27, it can touch the level of 111.77, 112.47 respectively.

  • SELL BRENTCRUDEOIL-NYMEX BELOW 109.46 TGTS 108.96, 108.26 SL 110.01.
  • BUY BRENTCRUDEOIL-NYMEX ABOVE 111.27 TGTS 111.77, 112.47 SL 110.72.

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

7Jul

Comex Commodity Trading Signals and Market News – 07 July 2014

INTERNATIONAL COMMODITY NEWS :

Gold futures edged higher on Friday, but gains were expected to remain limited as Thursday’s upbeat U.S. employment data continued to lend support to the U.S. dollar. On the Comex division of the New York Mercantile Exchange, gold for August delivery traded at $1,321.80 a troy ounce during European afternoon trade, up 0.09%. The August contract settled 0.77% lower on Thursday to end at $1,320.6 a troy ounce.

Silver for September delivery inched rose 0.24% to trade at $21.188 a troy ounce, while copper for September delivery slid 0.38% to trade at $3.268 a pound.

Crude oil futures were trading near one-month lows on Friday, as concerns over potential supply disruptions in the Middle East began to subside. On the New York Mercantile Exchange, U.S. Crude oil for delivery in August traded at $103.98 a barrel during European morning trade, down 0.08%. Prices dropped 0.40% on Thursday to settle at $104.06.

Natural gas futures rose on Thursday after a weekly U.S. supply report met market expectations. On the New York Mercantile Exchange, natural gas futures for delivery in August traded at $4.368 per million British thermal units during U.S. trading, up 0.24%. The commodity hit a session high of $4.409 and a low of $4.331. The August contract settled down 2.20% on Wednesday to end at $4.357per million British thermal units.

Base metals prices were flat in quiet trading conditions in Friday’s LME premarket, with the market digesting the previous day’s run of data. The copper price at $7,155 per tonne was down $20 on Thursday’s close, with just 3,200 lots having changed hands on Select so far. Stocks and cancelled warrants were both a net 550 tonnes lower at 156,500 tonnes and 27,250 tonnes respectively. The aluminium price at $1,926 was $10 lower although stocks fell 9,100 tonnes to 5,049,225 tonnes. Nickel remains stuck below $20,000 – it was last at $19,685, down $185, and having peaked at $19,889 earlier. Inventories were 402 tonnes lower at 304,536 tonnes. The zinc price was at its strongest in 33 months on Thursday. While it has retreated from these highs, it remains strong at $2,240.25, up $1.25. Stocks were down 950 tonnes at 664,650 tonnes and cancelled warrants were 5,175 tonnes higher at 60,600 tonnes. The Lead price at $2,181 was down $15 while Tin declined $50 to $22,850 – there were no stock movements in either.

• The ICE Futures Exchange, Brent oil for August inched up 0.05% to trade at $111.06 a barrel, with the spread between the Brent and crude contracts standing at $7.08 a barrel.

TRADING STRATEGY :

WTICRUDEOIL-NYMEX has closed @ 103.74. If it breaks the level of 103.55, it can touch the level of 103.05 & 102.35 respectively. If it sustain above the level of 104.60, it can touch the level of 105.10, 105.80 respectively.

  • SELL WTICRUDEOIL-NYMEX BELOW 103.55 TGTS 103.05, 102.35 SL 104.10.
  • BUY WTICRUDEOIL-NYMEX ABOVE 104.60 TGTS 105.10, 105.80 SL 104.55.

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

4Jul

Comex Commodity Trading Signals and Market News – 04 July 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices held steady in Asia on Friday in thin trade ahead of U.S. public holiday. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,320.50 a troy ounce, down 0.01%, after hitting an overnight session low of $1,310.50 and off a high of $1,328.40.

Silver for September delivery rose 0.08% at $21.153 a troy ounce. Copper futures for September delivery were up 0.10% at $3.278 a pound.

Crude oil prices eased marginally in Asia on Friday with U.S. markets shut and possible supply disruption issues from Libya and Iraq on the wane. On the New York Mercantile Exchange, West Texas Intermediate crude oi oil for delivery in August traded at $103.99 a barrel, down 0.07%, after hitting an overnight session low of $103.68 a barrel and a high of $104.31 a barrel, posting six straight sessions of declines.

Brent oil on the ICE futures exchange fell 0.2% to $111.00 a barrel.

Natural gas futures rose on Thursday after a weekly U.S. supply report met market expectations. On the New York Mercantile Exchange, natural gas futures for delivery in August traded at $4.368 per million British thermal units during U.S. trading, up 0.24%. The commodity hit a session high of $4.409 and a low of $4.331. The August contract settled down 2.20% on Wednesday to end at $4.357per million British thermal units.

Base metals stepped back from early highs during Thursday LME premarket trading when the momentum that swept the complex to multi-week and multi-month highs slowed and investors paused ahead of the day’s key economic data-event, the US June jobs report. The copper price hit $7,150, further capitalising on the break above $7,100, before it stepped back to $7,128, a $3 gain from Wednesday’s close. The zinc price hit its highest since August 2011 at $2,270.25 and then dropped back to $2,240, an $8 loss. But the market is up some 3.8 percent over two days. Stocks fell 1,175 tonnes to 665,600 tonnes, the lowest since December 2010. Lead prices reversed direction after inventories jumped 19,900 tonnes to 213,600 tonnes, the highest since January 8, with all the inflow warranted in Antwerp. Prices, which had hit a six-month peak of $2,230 earlier, stumbled back to $2,199, a $7.50 loss now from the Wednesday close. The aluminium price got to $1,936.25 and then traded at $1,924, up just $1 now. Inventories were 8,075 tonnes lower at 5,058,325 tonnes. The nickel price got to within $10 of $20,000 and recently traded at $19,791, up $166 – stocks were down 456 tonnes at 304,938 tonnes. The tin price at $22,800 registered a $225 loss; inventories were up 155 tonnes at 11,715 tonnes, their highest since November 2013.

TRADING STRATEGY :

GOLD-COMEX has closed @ 1319.08. If it breaks the level of 1317, it can touch the level of 1309 & 1297 respectively. If it sustain above the level of 1332, it can touch the level of 1340, 1352 respectively.

  • SELL GOLD-COMEX BELOW 1317 TGTS 1309, 1297 SL 1327.
  • BUY GOLD-COMEX ABOVE 1332 TGTS 1340, 1352 SL 1322.

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

3Jul

Comex Commodity Trading Signals and Market News – 03 July 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices eased in Asia Thursday on profit taking, but reamin supported by expectations of continued low interest rates in the United STates and globally. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,327.10 a troy ounce, down 0.29%, after hitting an overnight session low of $1,322.20 and off a high of $1,332.70.

Silver for September delivery was down 0.53% at $21.190 a troy ounce. Copper futures for September delivery were up 0.04% at $3.259 a pound.

Crude oil prices dipped early in Asia on Thursday with exports from Libya and relative quiet in Iraq keeping sentiment subdued. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in August traded at $104.16 a barrel, down 0.31%, after hitting an overnight session session low of $104.58 a barrel and a high of $105.52 a barrel.

Brent oil crude on the ICE futures exchange fell or 0.9% to $111.24 a barrel on Wednesday. Both contracts hit their lowest settlement price since June 11.

Natural gas futures fell on Wednesday after investors avoided the commodity ahead of Thursday’s weekly U.S. supply report. On the New York Mercantile Exchange, natural gas futures for delivery in August traded at $4.352 per million British thermal units during U.S. trading, down 2.32%. The commodity hit a session high of $4.459 and a low of $4.348. The August contract settled down 0.13% on Tuesday to end at $4.455per million British thermal units.

Base metals prices were off session lows on Wednesday, but ultimately were little changed from the previous day’s closing levels. The copper price at $7,021 per tonne was $1 higher, having dropped to a session low of $6,966 in early Asian sessions. The aluminium price at $1,881 was down $3, although stocks declined 5,250 tonnes to 5,066,400 tonnes. Cancelled warrants were also lower, down 5,050 tonnes to 2,990,950 tonnes. The nickel price was $1 higher at $19,126 although stocks increased 138 tonnes to 305,394 tonnes. Lead was $2 lower at $2,158 with no changes to stocks. Sister metal zinc at $2,187 was up a marginal $1 and stocks fell 1,175 tonnes to 666,775 tonnes. The tin price at $22,720 was $80 lower and inventories rose 75 tonnes to 11,560 tonnes.

TRADING STRATEGY :

COPPER-COMEX has closed @ 3.2570. If it sustain above the level of 3.2620, it can touch the level of 3.2720 & 3.2870 respectively. If it breaks the level of 3.2188, it can touch the level of 3.2088, 3.1938 respectively.

  • BUY COPPER-COMEX ABOVE 3.2620 TGTS 3.2720, 3.2870 SL 3.2510.
  • SELL COPPER-COMEX BELOW 3.2188 TGTS 3.2088, 3.1938 SL 3.2298.

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

2Jul

Comex Commodity Trading Signals and Market News – 02 July 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices edged out a small gain in early Aisan trade on Wednesday in a slight follow through from gains in the U.S. overnight. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,326.90 a troy ounce, up 0.02%, after hitting an overnight session low of $1,324.70 and off a high of $1,333.10.

Silver for September delivery was udown 0.18% at $21.078 a troy ounce. Copper futures for September delivery were down 0.02% at $3.203 a pound.

Crude oil prices eased in Asia on Wednesday as an industry report on U.S. supplies showed a less than expected drop. On the New York Mercantile Exchange, West Texas Intermediate Crude Oil for delivery in August traded at $105.29 a barrel, down 0.05%, after hitting an overnight session low of $104.79 a barrel and a high of $106.08 a barrel.

Brent oil for August, the global benchmark, fell 0.1% to settle at $112.29 a barrel on Tuesday.

Natural gas futures fell on Tuesday after markets locked in gains from warm weather forecasts, sold for profits and jumped to the sidelines ahead of Thursday’s weekly U.S. supply report. On the New York Mercantile Exchange, natural gas futures for delivery in August traded at $4.454 per million British thermal units during U.S. trading, down 0.17%. The commodity hit a session high of $4.487 and a low of $4.403. The August contract settled up 1.18% on Monday to end at $4.461 per million British thermal units.

Base metals drifted on Wednesday Asian trade after a data-heavy day and ahead of the keenly-eyed Thursday’s US jobs report. In the metals, copper traded as high as $7,028.50 on Tuesday and ended at $7,020 per tonne. However, the upside provided by the stronger Chinese PMI did not last, with the metal breaking below key level $7,000 this morning. The metal is now at $6,998, trading around $22 lower than where it concluded on Monday. Aluminium was slightly lower at $1,882 from Tuesday’s $1,884, a $2 loss, with inventories seeing a bumper jump of 25,450 tonnes to a one-week high of 5,071,650 tonnes. This was due to a 31,000-tonne warranting in Vlissingen, which now holds 2,061,725 tonnes. Zinc at $2,181 is $5 lower although stocks were down 525 tonnes at 667,950 tonnes. Lead slipped $14 from $2,169 to $2,155, with stocks falling 100 tonnes to 193,700 tonnes. Nickel lost $150 overnight to $18,975 compared to Tuesday’s $19,125, with inventories climbing 366 tonnes to 305,256 tonnes, not far off recent all-time highs. Tin is the only metal to see some upside today, gaining $181 to the current $22,630 even as stocks rose 100 tonnes to 11,485 tonnes,
the highest since November last year.

TRADING STRATEGY :

BRENTCRUDEOIL-NUMEX has closed @ 111.99. If it breaks the level of 111.81, it can touch the level of 111.31 & 110.61 respectively. If it sustain above the level of 113.15, it can touch the level of 113.65, 114.35 respectively.

  • SELL BRENTCRUDEOIL-NYMEX BELOW 111.81 TGTS 111.31, 110.61 SL 112.41.
  • BUY BRENTCRUDEOIL-NYMEX ABOVE 113.15 TGTS 113.65, 114.35 SL 112.55.

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

1Jul

Comex Commodity Trading Signals and Market News – 01 July 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices rose in Asia on Tuesday after solid manufacturing data in the country set the tone for demand by a top importer of the yellow metal. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,328.60 a troy ounce, up 0.50%, after hiitng an overnight session low of $1,311.20 and off a high of $1,330.20.

Silver for September delivery was up 0.32% at $21.123 a troy ounce. Copper futures for September delivery were up 0.05% at $3.207 a pound.

Crude oil prices gained in Asia on Tuesday after strong PMI data from China set the tone on demand prospects. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in August traded at $105.60 a barrel, up 0.21%, after hiting an overnight session low of $104.67 a barrel and a high of $105.75 a barrel.

Brent oil on the ICE futures exchange slid 0.8%, to $112.36 a barrel on Monday, but gained 4.3% this quarter and 1.4% in the first half of the year. Prices rose 2.7% for the month.

Natural gas futures rebounded on Monday after bottom fishers snapped up nicely-priced positions in the commodity and took back losses stemming from last week’s bearish supply report. On the New York Mercantile Exchange, natural gas futures for delivery in August traded at $4.481 per million British thermal units during U.S. trading, up 1.62%. The commodity hit a session high of $4.493 and a low of $4.379. The August contract settled down 0.72% on Friday to end at $4.409 per million British thermal units.

Base metals traded mixed during Tuesday’s Asian trade, following the release of the HSBC flash manufacturing PMI as well as the official PMI data. Copper was last flat at $7,015 per tonne, while zinc at $2,204 gave back $13 overnight after closing at $2,217 per tonne. Aluminium continued to be languish below $1,900 – it closed at $1,891 and is last at $1,887 per tonne. Inventories were down 7,675 tonnes at 5,046,200 tonnes, the lowest again since October 2012. Lead is lower as well, losing $7 to last trade at $2,166 from Monday’s $2,173. There was a 400-tonne stock increase to 193,800 tonnes. Nickel cleared the $19,000 mark on Monday, and is now at $19,027, $13 lower than Monday’s close. Technical buyers could come into the market, traders said, especially if the dollar is kept soft. Tin is lower as well, with last trade at $22,502, $43 lower than Monday’s $22,545 amidst a stock climb of 100 tonnes to 11,385 tonnes, another seven-month high.

TRADING STRATEGY :

PLATINUM-COMEX has closed @ 3.2000. If it sustain above the level of 3.2090, it can touch the level of 3.2190 & 3.2340 respectively. If it breaks the level of 3.1683, it can touch the level of 3.1583, 3.1433 respectively.

  • BUY PLATINUM-COMEX ABOVE 3.2090 TGTS 3.2190, 3.2340 SL 3.1980.
  • SELL PLATINUM-COMEX BELOW 3.1683 TGTS 3.1583, 3.1433 SL 3.1793.

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

30Jun

Comex Commodity Trading Signals and Market News – 30 June 2014

INTERNATIONAL COMMODITY NEWS :

Gold futures rose on Friday as the dollar fell amid market sentiment that the Federal Reserve will keep interest rates low well into 2015 despite comments from the head of the U.S. central bank’s St. Louis branch suggesting otherwise. Gold and the dollar tend to trade inversely with one another. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at 1,319.50 a troy ounce during U.S. trading, up 0.19%, up from a session low of $1,313.60 and off a high of $1,323.10. The August contract settled down 0.42% at $1,317.00 on Thursday.

Silver for September delivery was down 0.10% at $21.140 a troy ounce, while copper futures for September delivery were down 0.18% at $3.166 a pound.

Crude futures edged lower in U.S. trading on Friday as investors continued to unwind positions that had priced in the possibility of major supply disruptions stemming from the bloody Iraqi insurgency. In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in August traded at $105.61 a barrel during U.S. trading, down 0.22%. New York-traded oil futures hit a session low of $105.34 a barrel and a high of $106.18 a barrel. The August contract settled up 0.62% at $105.84 a barrel on Thursday.

Natural gas futures carried Thursday’s losses into Friday after official data revealed U.S. inventories rose more than markets were expecting last week. On the New York Mercantile Exchange, natural gas futures for delivery in August traded at $4.393 per million British thermal units during U.S. trading, down 1.09%. The commodity hit a session high of $4.466 and a low of $4.376. The August contract settled down 2.80% on Thursday to end at $4.441 per million British thermal units.

Base metals moved back into upside territory during Friday LME premarket trading, reversing an early drift when the copper market sped up to its highest since early-March, while the others again veered towards overhead objectives. The copper price got to within $16 of the $7,000 level at one stage, nickel hit its best for just over one week and aluminium , zinc and lead were all showing signs of retesting overhead resistance areas. The aluminium price was again struggling above $1,900 – prices have consistently failed to hold above that level this week. Business at $1,895 was $2 lower. Inventories recorded their 24th successive daily decline – down 6,550 tonnes at 5,053,875 tonnes, the lowest since October 2012. The zinc price hit $2,196.50, just $1.50 below the recent 16-month high, and then traded at $2,190, a $0.50 loss. There was a rare stocks increase – inventories rose 1,300 tonnes to 669,000 tonnes. Sister metal lead held at an unchanged $2,174, while stocks increased 1,500 tonnes to 193,400 tonnes. The nickel price saw technically based buying and traded at $18,820, down $30 – stocks were up 234 tonnes at 305,790 tonnes. The tin price at $22,350 was $75 lower, with stocks up 100 tonnes at 11,285 tonnes, the highest since November 2013.

• The ICE Futures Exchange in London, brent oil futures for August delivery were up 0.02% and trading at US$113.24 a barrel, while the spread between the Brent and U.S. crude contracts stood at US$7.63 a barrel.

TRADING STRATEGY :

WTICRUDEOIL-NYMEX has closed @ 105.72. If it breaks the level of 105.50, it can touch the level of 105.00 & 104.20 respectively. If it sustain above the level of 106.76, it can touch the level of 107.26, 107.96 respectively.

  • SELL WTICRUDEOIL-NYMEX BELOW 105.50 TGTS 105.00, 104.20 SL 106.05.
  • BUY WTICRUDEOIL-NYMEX ABOVE 106.76 TGTS 107.26, 107.96 SL 106.21.

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

27Jun

Comex Commodity Trading Signals and Market News – 27 June 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices gained in Asia on bargain hunting after an upbeat assessment on the U.S> economy by a Fed official dimmed hit the metal overnight. On the Comex division of the New York Mercantile Exchange, Gold futures for August delivery traded at $1,317.70 a troy ounce, up 0.05%, after hitting an overnight session low of $1,307.00 and off a high of 1,320.60.

Silver for September delivery was down 0.02% at $21.158 a troy ounce. Copper futures for September delivery were down 0.12% at $3.169 a pound.

Crude oil prices continued to fall into Asai on Friday as ample supplies outweigh, for now, the threat of disruption of shipments from Iraq and U.S. data pointed to weaker than expected demand. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in August traded at $105.68 a barrel, down 0.16%, after hitting an overnight session low of $105.04 a barrel and a high of $106.85 a barrel.

• The Brent oil contract on the ICE Futures Europe fell by 0.1% to $113.67, and is now $2 below the levels reached a week ago.

Natural gas futures fell on Thursday after official data revealed U.S. inventories rose more than markets were expecting last week.On the New York Mercantile Exchange, natural gas futures for delivery in August traded at $4.448 per million British thermal units during U.S. trading, down 2.66%. The commodity hit a session high of $4.607 and a low of $4.434. The August contract settled up 0.29% on Wednesday to end at $4.569 per million British thermal units.

Base metals drifted routinely during Thursday LME premarket trading and looked set for a neutral day, traders said, after copper lost early upside momentum – prices had climbed to fresh three-week highs. In the metals, the copper price jumped to $6,954 at one stage before tailing away to $6,910 per tonne, down $5 from the previous kerb close. Warehouse stocks registered a 20th daily fall on the trot – dropping a net 825 tonnes to 156,000 tonnes, the lowest since August 2008, again. The aluminium price continued to encounter difficulty in sustaining a foothold above $1,900 and retest this week’s two-week peaks, retreating to trade at $1,894, a $6 loss. Inventories declined for a 23rd successive day, with a 5,825-tonne fall to 5,060,425 tonnes, the lowest since October 2012. The zinc price traded at $2,184, up just $1 and struggling to test its 16-month highs hit at the start of the week near $2,200 – stocks fell 1,075 tonnes to 667,700 tonnes, a new low since December 2010. Sister metal lead at $2,171 was $4 higher, running below six-month peaks set earlier this week, while inventories dropped 275 tonnes to 191,900 tonnes. Nickel traded at $18,630, up $55, having corrected higher from near $18,000. Inventories dropped 306 tonnes to 305,556 tonnes but remain near all-time highs. The tin price slipped $75 to $22,425, with stocks climbing 85 tonnes to 11,185 tonnes, a fresh high since November 2013.

TRADING STRATEGY :

NATURALGASL-NYMEX has closed @ 4.445. If it breaks the level of 4.425, it can touch the level of 4.385 & 4.325 respectively. If it sustain above the level of 4.569, it can touch the level of 4.609, 4.669 respectively.

  • SELL NATURALGAS-NYMEX BELOW 4.425 TGTS 4.385, 4.325 SL 4.470.
  • BUY NATURALGAS-NYMEX ABOVE 4.569 TGTS 4.609, 4.669 SL 4.528.

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