Comex Market

16Jun

Comex Commodity Trading Signals and Market News –16th June 2014

INTERNATIONAL COMMODITY NEWS :

Gold futures remained in positive territory due to safe-haven demand from investors worried over chaos erupting in Iraq remained in a tight trading range after President Barack Obama said the U.S. won’t send in troops to quell the insurgency. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at 1,275.90 a troy ounce during U.S. trading, up 0.15%, up from a session low of $1,271.00 and off a high of $1,277.50. The August contract settled up 1.01% at $1,274.00 on Thursday.

Silver for July delivery was up 0.69% at $19.668 a troy ounce, while copper futures for July delivery were up 0.49% at $3.030 a pound.

Crude futures advanced on Friday amid fears that Iraq is on the brink of a civil that could disrupt oil shipments, though reassurances from President Barack Obama that the U.S. won’t send troops into the troubled country moved prices off earlier highs.On the new York Mercantile Exchange, West Texas Intermediate crude oil for delivery in July traded at $106.91 a barrel during U.S. trading, up 0.36%. New York-traded oil futures hit a session low of $106.39 a barrel and a high of $107.67 a barrel. The July contract settled up 2.04% at $106.53 a barrel on Thursday.

Natural gas futures edged lower on Friday after investors locked in gains from Thursday’s bullish supply report and sold the commodity for profits. On the New York Mercantile Exchange, natural gas futures for delivery in July traded at $4.756 per million British thermal units during U.S. trading, down 0.14%. The commodity hit a session high of $4.791 and a low of $4.717. The July contract settled up 5.63% on Thursday to end at $4.762 per million British thermal units.

Base metals other than the tin price were back in positive territory in Friday’s pre-market sessions, rebounding from the previous day’s lows. The copper price dived to a five-week low near $6,600 on Thursday, aluminium its weakest for a week and lead its softest for a month. High-priced nickel and tin saw steeper corrections, falling to their lowest for two and three months respectively. The copper price at $6,662 per tonne was up $42 on Thursday’s close. The aluminium price at $1,850 was $5 higher – stocks fell 4,575 tonnes to 5,127,100 tonnes – and nickel climbed $88 to $18,088 although stocks rose 228 tonnes to 286,710 tonnes and cancelled warrants fell 720 tonnes to 114,270 tonnes. The lead price at $2,083 was up $8 following a 25-tonne stock drop to 191,250 tonnes and zinc at $2,086 was $11 higher – stocks and cancelled warrants both fell 2,650 tonnes to 684,625 tonnes and 65,275 tonnes respectively. The tin price was the exception, falling $50 to $22,520 after a 60-tonne stock increase to 10,900 tonnes.

• The ICE Futures Exchange in London, Brent oil futures for August delivery were up 0.30% and trading at US$112.76 a barrel, while the spread between the Brent and U.S. crude contracts stood at US$5.85 a barrel.

TRADING STRATEGY :

PLATINUM-COMEX has closed @ 1431.75. If it breaks the level of 1427, it can touch the level of 1420 & 1408 respectively. If it sustain above the level of 1453, it can touch the level of 1460, 1472 respectively.

  • SELL PLATINUM-COMEX BELOW 1427 TGTS 1420, 1408 SL 1437.
  • BUY PLATINUM-COMEX ABOVE 1453 TGTS 1460, 1472 SL 1443.

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

13Jun

Comex Commodity Trading Signals and Market News –13th June 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices fell early in Asia on Friday on profit taking after a run-up overnight on geopolitical tension over Iraq. On the Comex division of the New York Mercantile Exchange, Gold futures for August delivery traded at $1,273.00 a troy ounce, down 0.08%, after hitting an overnight session low of $1,260.10 and off a high of $1,275.00.

Silver for July delivery was down 0.08% at $19.517 a troy ounce. Copper futures for July delivery were up 0.05% at $3.015 a pound.

Crude oil prices held gain into Asia on Friday as continued strife in Iraq underpinned concerns on supply. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in July traded at $106.96 a barrel,up 0.40%, after hitting an overnight session low of $104.36 a barrel and off a high of $1,275.00, its highest settlement since September.

Natural gas futures shot up on Thursday after official data revealed that U.S. natural gas supplies rose less than expected last week. On the New York Mercantile Exchange, natural gas futures for delivery in July traded at $4.756 per million British thermal units during U.S. trading, up 5.49%. The commodity hit a session high of $4.759 and a low of $4.518. The July contract settled down 0.49% on Wednesday to end at $4.508 per million British thermal units.

• The price of a barrel of Brent oil, traded on the ICE Europe, settled at its highest level since September, climbing 2.8% to $113.02 a barrel, on Thursday.

• The base metals closed lower yesterday, with average losses of 1.2 percent, with the copper price falling the least, it was down 0. 3 percent at $6,673.75, but the others gave back more of their recent gains, with nickel down 2.4 percent at $18,250, the aluminium price off 1.6 percent at $1,866, the lead price down 1.2 percent, zinc off 0.7 percent and tin off 1.1 percent. As such, the markets did seem to have a reaction to the World Bank’s global outlook downgrade and it suggests the run-up in prices of late was largely driven by short-covering.

TRADING STRATEGY :

PLATINUM-COMEX has closed @ 1440.25. If it breaks the level of 1440, it can touch the level of 1432 & 1422 respectively. If it sustain above the level of 1465, it can touch the level of 1473, 1483 respectively.

  • SELL PLATINUM-COMEX BELOW 1440 TGTS 1432, 1422 SL 1450.
  • BUY PLATINUM-COMEX ABOVE 1465 TGTS 1473, 1483 SL 1455.

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

12Jun

Comex Commodity Trading Signals and Market News –12th June 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices rose slightly in Asia on Thursday, keeping a handle on events in Iraq after Islamist rebels seized control of two cities in strife that threatens efforts to rebuild the country’s oil industry. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,261.40 a troy ounce, up 0.02%, after hitting an overnight session low of $1,258.00 and off a high of $1,265.30.

Silver for July delivery rose 0.17% at $19.205 a troy ounce. Copper futures for July delivery rose 0.605 at $3.038 a pound.

Crude oil prices held flat in Asia on Thursday with the market focused on strife in Iraq. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in July traded at $104.38 a barrel, down 0.02%, after hitting an overnight session low of $104.04 a barrel and a high of $105.05 a barrel.

• The Brent oil contract rose 0.4% to $109.95 a barrel on the ICE Futures Europe exchange on Wednesday.

Natural gas futures rose on Wednesday after updated weather-forecasting models called for high pressure to edge out a storm system and bring warmer temperatures to the eastern half of the U.S. On the New York Mercantile Exchange, natural gas futures for delivery in July traded at $4.542 per million British thermal units during U.S. trading, up 0.25%. The commodity hit a session high of $4.572 and a low of $4.519. The July contract settled down 2.48% on Tuesday to end at $4.530 per million British thermal units.

TRADING STRATEGY :

COPPER-COMEX has closed @ 3.0355. If it breaks the level of 3.0361, it can touch the level of 3.0261 & 3.0105 respectively. If it sustain above the level of 3.0599, it can touch the level of 3.0699, 3.0755 respectively.

  • SELL COPPER-COMEX BELOW 3.0361 TGTS 3.0261, 3.0105 SL 3.0466.
  • BUY COPPER-COMEX ABOVE 3.0599 TGTS 3.0699, 3.0755 SL 3.0494.

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

11Jun

Comex Commodity Trading Signals and Market News –11th June 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices eased in Asia on Wednesday with fresh cues sought for the yellow metal. On the Comex division of the New York Mercantile Exchange, Gold futures for August delivery traded at $1,259.60 a troy ounce, down 0.04%, after hitting an overnight session low of $1,250.40 and off a high of $1,263.70.

Silver for July delivery was up 0.10% at $19.188 a troy ounce. Copper futures for July delivery fell 0.07% at $3.055 a pound.

Crude oil prices fell in Asia Wednesday as industry data on U.S. crude stocks failed to lift sentiment. On the New York Mercantile Exchange, West Texas Intermediate Crude Oil for delivery in July traded at $104.32 a barrel, down 0.03%, after hitting an overnight session low of $104.04 a barrel and a high of $105.05 a barrel.

• Brent oil on the ICE futures exchange fell 0.4% to $109.52 a barrel.

Natural gas futures moved lower on Tuesday after updated weather forecasting models predicted that a storm system trekking across the central and eastern U.S. will bring damp and cooler temperatures that should cut into demand for air conditioning. On the New York Mercantile Exchange, natural gas futures for delivery in July traded at $4.577 per million British thermal units during U.S. trading, down 1.47%. The commodity hit a session high of $4.663 and a low of $4.564. The July contract settled down 1.38% on Monday to end at $4.645 per million British thermal units.

• The copper price, initially stable on Tuesday, slipped away to fresh one-month lows during the LME pre-market session on dull sentiment, pulling the rest of the metals lower in their wake. The copper price touched a low of $6,628 and then settled at $6,648 per tonne , a $22 fall from the previous close. In inventory data, stocks fell a net 425 tonnes to 166,825 tonnes, the lowest since late-August 2008. The aluminium price, which broke above $1,900 to $1,918 yesterday, its best since August 2013, was less decisive this morning- it dropped back to $1,895, a $16 loss. Stocks were down 6,450 tonnes at 5,146,525 tonnes, the lowest for 13 months. Zinc stepped back from 16-month peak set late yesterday at $2,145 to trade at $2,120, an $11 decline – inventories fell, however. They declined 2,475 tonnes to 695,750 tonnes, the lowest since December 2010. Lead business at $2,128 was $13 lower – stocks held at 190,775 tonnes. The nickel price eased to $18,677 from $18,905, with stocks rising 1,914 tonnes to 286,626 tonnes, just 48 tonnes below the late-March all-time high. Tin business at $23,050 was $240 lower – stocks fell 25 tonnes to 10,770 tonnes.

TRADING STRATEGY :

NATURALGAS-NYMEX has closed @ 4.538. If it breaks the level of 4.518, it can touch the level of 4.468 & 4.396 respectively. If it sustain above the level of 4.636, it can touch the level of 4.686, 4.758 respectively.

  • SELL NATURALGAS-NYMEX BELOW 4.518 TGTS 4.468, 4.396 SL 4.573.
  • BUY NATURALGAS-NYMEX ABOVE 4.636 TGTS 4.686, 4.758 SL 4.581.

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

10Jun

Comex Commodity Trading Signals and Market News –10th June 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices eased in Asia on Tuesday with the market looking for fresh cues on demand. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,251.70 a troy ounce, down 0.18%, after hitting an overnight session low of $1,251.70 and off a high of $1,257.20.

Silver for July delivery was down 0.17% at $19.033 a troy ounce. Copper futures for July delivery were down 0.18% at $3.045 a pound.

Crude oil prices were higher in early Asian trade on Tuesday ahead of industry data on U.S. crude stocks and an upcoming OPEC meeting. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in July traded at $104.50 a barrel, up 0.08%, after hitting an overnight session low of $102.63 a barrel and a high of $104.41 a barrel.

Brent oil on the ICE futures exchange rose 1.3% to $109.99 a barrel.

Natural gas futures traded lower on Monday after updated weather forecasting models called for a storm system to trek across the central and eastern U.S. and bring damp, cooler weather, which should cut into demand for air conditioning. On the New York Mercantile Exchange, natural gas futures for delivery in July traded at $4.701 per million British thermal units during U.S. trading, down 0.19%. The commodity hit a session high of $4.743 and a low of $4.652. The July contract settled up 0.19% on Friday to end at $4.710 per million British thermal units.

Base metals saw some profit taking following a positive start to Monday with several of the metals pushing to week-highs. Earlier, the releases of the Chinese CPI and PPI data had little impact on the metals. copper continue to languish below $6,700 per tonne, and is just $1 up from Monday’s kerb close of $6,670. Cash/threes are now at $18.50, down significantly from the $100 spread seen earlier in the month. Aluminium price stands at $1,897, $14 lower than where it last traded on Monday. Zinc at $2,123 lost $8; lead gave back $9 to $2,132 after making a $32 gain on Monday to end at $2,141 per tonne. Nickel declined $104 overnight to last bid at $18,801 – “speculative players on the LME have very much turned their attention to zinc and aluminium and nickel time in the limelight earlier this year is very much in the past,” said the note from Triland Metals. Tin lost $105 to $23,175 per tonne from last night’s $23,290 even though there was a 155-tonne reduction in stocks to 10,795 tonnes.

TRADING STRATEGY :

BRENTCRUDEOIL-NYMEX has closed @ 109.90. If it sustain above the level of 110.27, it can touch the level of 110.77 & 111.31 respectively. If it breaks the level of 108.96, it can touch the level of 108.46, 107.91 respectively.

  • BUY BRENTCRUDEOIL-NYMEX ABOVE 110.27 TGTS 110.77, 111.31 SL 109.72.
  • SELL BRENTCRUDEOIL-NYMEX BELOW 108.96 TGTS 108.46, 107.91 SL 109.51.

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

9Jun

Comex Commodity Trading Signals and Market News – 09th June 2014

INTERNATIONAL COMMODITY NEWS :

Gold futures fell on Friday after data revealed the U.S. economy saw an uptick in new job creation in May, though a European Central Bank decision to loosen policy on Thursday cushioned the yellow metal’s losses. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at 1,252.20 a troy ounce during U.S. trading, down 0.09%, up from a session low of $1,246.10 and off a high of $1,257.60. The August contract settled up 0.72% at $1,253.30 on Thursday.

Silver for July delivery was down 0.45% at $18.998 a troy ounce, while copper futures for July delivery were down 1.09% at $3.057 a pound.

Crude oil prices eased slightly in Asia on Friday ahead of U.S. data expected to show a gain of 218,000 jobs, underpinning continued strength for the dollar. On the New York Mercantile Exchange, U.S. Crude oil for delivery in July traded at $102.45 a barrel, down 0.03%, after falling to a session low of $101.61 a barrel, the weakest level since May 21, before trimming losses.

• The ICE Brent oil contract erased early losses and rose 0.4% to $108.79, ending four straight losing sessions.

Natural gas futures turned lower on Thursday, after data showed that U.S. natural gas supplies rose more than expected last week. On the New York Mercantile Exchange, natural gas for delivery in July shed 0.59%, or 2.8 cents, to trade at $4.613 per million British thermal units during U.S. morning hours. Futures traded at $4.663 prior to the release of the supply data. Prices rose to a daily high of $4.688 per million British thermal units earlier, the most since May 8. Natural gas futures ended Wednesday’s session up 0.24%, or 1.1 cents, to settle at $4.640.

TRADING STRATEGY :

COPPER-COMEX has closed @ 3.0555. If it breaks the level of 3.0524, it can touch the level of 3.0424 & 3.0268 respectively. If it sustain above the level of 3.0788, it can touch the level of 3.0888, 3.1035 respectively.

  • SELL COPPER-COMEX BELOW 3.0524 TGTS 3.0424, 3.0268 SL 3.0634.
  • BUY COPPER-COMEX ABOVE 3.0788 TGTS 3.0888, 3.1035 SL 3.0678.

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

6Jun

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

INTERNATIONAL COMMODITY NEWS :

Gold prices rose slightly in Asia on Friday as a follow-on to ultra-loose monetary policy by the European Central Bank overnight with the focus now on U.S. data later today expected to show a gain of 218,000 jobs.On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,253.50a troy ounce, up 0.02%, after hitting a session high $1,257.70 a troy ounce. Prices rallied by as much as 1.06% after the ECB decision and hit a session high of $1,257.70. Gold declined 0.02%, or 20 cents, on Wednesday to settle at $1,244.30. Prices hit an 18-week low of $1,240.20 on June 3. The European Central Bank cut its benchmark interest rate to a record-low 0.15% from the 0.25% rate held since November earlier in the day.

Silver for July delivery fell 0.18% to trade at $19.048 a troy ounce. Copper for July delivery rose 0.05% to trade at $3.093 a pound amid growing concerns over the demand outlook in China.

Crude oil prices eased slightly in Asia on Friday ahead of U.S. data expected to show a gain of 218,000 jobs, underpinning continued strength for the dollar. On the New York Mercantile Exchange, U.S. Crude oil for delivery in July traded at $102.45 a barrel, down 0.03%, after falling to a session low of $101.61 a barrel, the weakest level since May 21, before trimming losses.

• The ICE Brent oil contract erased early losses and rose 0.4% to $108.79, ending four straight losing sessions.

Natural gas futures turned lower on Thursday, after data showed that U.S. natural gas supplies rose more than expected last week. On the New York Mercantile Exchange, natural gas for delivery in July shed 0.59%, or 2.8 cents, to trade at $4.613 per million British thermal units during U.S. morning hours. Futures traded at $4.663 prior to the release of the supply data. Prices rose to a daily high of $4.688 per million British thermal units earlier, the most since May 8. Natural gas futures ended Wednesday’s session up 0.24%,
or 1.1 cents, to settle at $4.640.

Base metals were mixed during Thursday morning trading sessions, but remained within recent ranges as the market waited for key news and data releases from the EU and US. The copper price at $6,783 per tonne was down $2 on the previous day’s close, while more than 7,000 lots were changing hands so far. Nickel business was up $60 at $19,080 as it found support from news from Indonesia. The aluminium price at $1,845 was up $10 as stocks continue to fall – both stocks and cancelled warrants lost 5,125 tonnes to 5,170,375 tonnes and 2,851,250 tonnes respectively. The lead price was $1 higher at $2,104 with a 50-tonne reduction in stocks to 190,375 tonnes. Sister metal zinc at $2,077 fell $2 although stocks at 700,375 tonnes are now the lowest since December 29, 2010. The tin price at $23,239 increased $14 with a 50 tonne drop in inventories to 10,885 tonnes.

TRADING STRATEGY :

NATURALGAS-NYMEX has closed @ 4.698. If it sustain above the level of 4.733, it can touch the level of 4.783 & 4.852 respectively. If it breaks the level of 4.585, it can touch the level of 4.535, 4.464 respectively.

  • BUY NATURALGAS-NYMEX ABOVE 4.733 TGTS 4.783, 4.852 SL 4.678.
  • SELL NATURALGAS-NYMEX BELOW 4.585 TGTS 4.535, 4.464 SL 4.640.

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

 

5Jun

Comex Commodity Trading Signals and Market News – 05th June 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices were flat to higher in Asia Thursday ahead of the European Central Bank’s board meeting on monetary policy and Friday’s U.S. non-farm payrolls. On the Comex division of the New York Mercantile Exchange, gold for August delivery traded at $1,244.70 a troy ounce, up 0.03%.

Silver for July delivery on the Comex slipped 0.04% to trade at $18.785 a troy ounce. Copper for July delivery fell 0.19% to trade at $3.088 a pound.

Crude oil prices fell in Asia on Thursday on bearish government data on U.S. petroleum stocks that signalled the summer driving season is not as robust as expected. On the New York Mercantile Exchange, U.S. Crude oil for delivery in July traded at $102.26 a barrel, down 0.38%.

• The Brent oil contract fell 0.4% to $108.40 a barrel on the ICE Futures Europe exchange, its fourth consecutive losing session.

Natural gas futures were higher in U.S. trade on Wednesday. On the New York Mercantile Exchange, Natural gas futures for July delivery traded at USD4.641 per million British thermal units at time of writing rising 0.25%. It earlier traded at a session high USD4.646 per million British thermal units.

Base metals fell on Wednesday morning on concerns about the alleged fraudulent use of warehouse receipts in the Chinese port of Qingdao, which pulled the copper price about 1.5 percent lower – the other metals followed in its wake. The copper price was around three-week lows, dropping to $6,765 per tonne, down $105 on Tuesday’s close. Turnover on Select has picked up, with 13,000 lots changing hands so far. Stocks fell a net 350 tonnes to 168,475 tonnes. The aluminium price at $1,825 was $11 lower, while stocks remain at one-year lows following a 5,750-tonne drop to 5,175,500 tonnes. The nickel price last traded at a soft $18,948 tonnes although stocks fell 234 tonnes to 283,752 tonnes. Tin was $196 lower at $23,144 – stocks increased 130 tonnes to 10,915 tonnes – and lead declined $18 to $2,117, with no changes in stocks. The zinc price at $2,079 was $9 lower, while the nearby spreads are in backwardation, with cash/threes at $6. Stocks and cancelled warrants were both down 3,650 tonnes at 703,425 tonnes and 87,350 respectively – total stocks are now at their lowest since January 10, 2011.

TRADING STRATEGY :

BRENTCRUDEOIL-NYMEX has closed @ 108.05. If it breaks the level of 108.03, it can touch the level of 107.53 & 106.84 respectively. If it sustain above the level of 109.20, it can touch the level of 109.70, 110.39 respectively.

  • SELL BRENTCRUDEOIL-NYMEX BELOW 108.03 TGTS 107.53, 106.84 SL 108.58.
  • BUY BRENTCRUDEOIL-NYMEX ABOVE 109.20 TGTS 109.70, 110.39 SL 108.65.

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

4Jun

Comex Commodity Trading Signals and Market News – 04th June 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices gained in Asia Wednesday on a rebound from overnight with investors search for demand cues. On the Comex division of the New York Mercantile Exchange, gold for August delivery traded at $1,245.30 a troy ounce, up 0.06%. Overnight,the Institute for Supply Management corrected its May manufacturing data twice on Monday. The index was first corrected to 56.0 after being initially reported as 53.2, before being corrected for a second time to 55.4.

Silver comex for July delivery rose 0.17% to trade at $18.795 a troy ounce. Copper for July delivery fell 0.07% to trade at $3.140 a pound.

Crude oil prices gained in Asia on Wednesday after slightly bullish industry data on U.S. stocks. On the New York Mercantile Exchange, U.S. Crude Oil for delivery in July traded at $102.91 a barrel, up 0.24%, after hitting $102.10 on Monday, the lowest since May 20, before settling at $102.47, down 0.23%, or 24 cents.

• Brent Oil on ICE Futures Europe also rallied late to settle up 0.2 cent, or 0.02%, to $108.85 a barrel on Tuesday.

Natural gas futures were higher in U.S. trade on Tuesday. On the New York Mercantile Exchange, Natural gas futures for July delivery traded at USD4.633 per million British thermal units at time of writing rising 0.47%. It earlier traded at a session high USD4.662 per million British thermal units.

Base metals prices slipped lower on Tuesday morning on worsening sentiment about the state of the Eurozone economy. the copper price at $6,867 per tonne was down $63 on Monday’s close. Business has been subdued, with around 5,600 lots changing hands so far. Stocks and cancelled warrants both fell a net 2,000 tonnes to 168,825 tonnes and 70,975 tonnes respectively. The aluminium price was $10 lower at $1,840. Stocks were down 5,825 tonnes at 5,181,250 tonnes, their lowest since May 13, 2013 – this is due to continuous drawdowns in Detroit and Vlissingen. The nickel price declined $140 to $19,210 although inventories were down 126 tonnes to 283,986 tonnes and cancelled warrants increased 1,572 tonnes to 113,568 tonnes. The lead price at $2,119 was $4 lower after a 50-tonne stock drop to 190,425 tonnes and zinc at $2,078 was $5 lower, although tightness remains in the benchmark cash/three spread-it was last at a backwardation of $4.25/6.25. Stocks and cancelled warrants were both down 1,350 tonnes at 707,075 tonnes  and 91,000 tonnes respectively. The tin price was down $87 at $23,288 – inventories dropped 65 tonnes to 10,785 tonnes.

TRADING STRATEGY :

COPPER-COMEX has closed @ 3.1465. If it breaks the level of 3.1223, it can touch the level of 3.1123 & 3.0992 respectively. If it sustain above the level of 3.1404, it can touch the level of 3.1504, 3.1634 respectively.

  • SELL COPPER-COMEX BELOW 3.1223 TGTS 3.1123, 3.0992 SL 3.1333.
  • BUY COPPER-COMEX ABOVE 3.1404 TGTS 3.1504, 3.1633 SL 3.1294.

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

 

3Jun

Comex Commodity Trading Signals and Market News – 03rd June 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices eased in Asia on Tuesday with mixed data from China weighing on demand prospects from one of the world’s top importers. Chinese non-manufacturing PMI for May rose to 55.5, the highest since November, from 54.8. The HSBC Manufacturing PMI May final came in at 49.4, lower than the 49.7 in the “flash” reading, but still above the 48.1 final in April. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,243.60 a troy ounce, down 0.03%, after hitting an overnight session low of $1,241.20 and off a high of $1,251.00.

Silver comex for July delivery was up 0.26% at $18.788 a troy ounce. Copper futures for July delivery fell 0.38% at $3.155 a pound. China is the world’s top copper importer.

Crude oil prices stayed slightly positive Tuesday after data from China showed mixed fortunes for the economy. Chinese non- manufacturing PMI for May rose to 55.5, the highest since November, from 54.8. The HSBC Manufacturing PMI May final came in at 49.4, lower than the 49.7 in the “flash” reading, but still above the 48.1 final in April. On the New York Mercantile Exchange,West Texas Intermediate crude oil for delivery in July traded at $102.51 a barrel, up 0.04%, after hitting an overnight session low of $102.11 a barrel and a high of $103.34 a barrel.

• Brent crude on ICE Futures Europe also settled down 0.4% at $108.94 a barrel.

Natural gas futures were higher on Monday,as market players prepped for the arrival of summertime temperatures in the U.S., which should hike demand for air conditioning. On the New York Mercantile Exchange, natural gas for delivery in July rallied 1.03%, or 4.7 cents, to trade at $4.589 per million British thermal units during U.S. morning hours. Prices rose to a session high of $4.604 earlier in the day, the most since May 29. Natural gas futures fell 0.37%, or 1.7 cents, on Friday to settle at $4.542.

Base metals were mostly trading lower on Tuesday Asian trade after making a steadier start to the month on Monday. Copper ended at $6,930 per tonne on Monday, up $85 on Friday’s close due to the supportive official PMI data. Today, the poorer HSBC Flash PMI drove the metal down below $6,900 again, with prices now hovering at $6,896.25. Aluminium was the only metal in the complex that did not slide, with prices flat at $1,850 per tonne.Nickel at $19,331 is $19 lower;stocks fell 324 tonnes to 284,112 tonnes and cancelled warrants increased 864 tonnes to 111,996 tonnes. Tin at $23,210 is $165 lower; Lead fell $13 to $2,110 and zinc at $2,078 was also $5 lower.

TRADING STRATEGY :

BRENTCRUDEOIL-NYMEX has closed @ 108.79. If it breaks the level of 108.65, it can touch the level of 108.10 & 107.32 respectively. If it sustain above the level of 109.83, it can touch the level of 110.38, 111.16 respectively.

  • SELL BRENTCRUDEOIL-NYMEX BELOW 108.65 TGTS 108.10, 107.32 SL 109.25.
  • BUY BRENTCRUDEOIL-NYMEX ABOVE 109.83 TGTS 110.38, 111.16 SL 109.23.

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

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