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17-May-2018

Metals Update

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Metals Update DAILY MARKET OUTLOOK PRECIOUS METALS AND INDUSTRIAL METALS COMMODITY

UNITS

PRICE

CHANGE

% CHANGE

CONTRACT

COMEX GOLD

USD/T OZ.

1290.10

-0.20

-0.02

JUN-18

COMEX SILVER

USD/T OZ.

16.320

0.051

0.31

JUL-18

COMEX COPPER

USD/LB.

3.064

0.008

0.26

JUL-18

PLATINUM

USD/T OZ.

888.70

-8.50

-0.95

JUL-18

ENERGY COMMODITY FUTURES COMMODITY

UNITS

PRICE

CHANGE

% CHANGE

CONTRACT

CRUDE OIL(WTI)

USD/BBL.

70.97

-0.34

-0.48

JUN-18

CRUDE OIL(BRENT)

USD/BBL.

78.22

-0.20

-0.27

JUL-18

NY. NATURAL GAS

USD/MMBTU

2.820

-0.016

-0.56

JUN-18

NY. HEATING OIL

USD/GAL.

2.2506

0.0016

0.07

JUN-18


Metals Update DAILY SUPPORT & RESISTANCE COMMODITY

SUPPORT-2

SUPPORT-1

PIVOT

RESISTANCE-1

RESISTANCE-2

1280.23

1284.56

1294.63

1298.96

1309.3

SILVER

16.051

16.122

16.236

16.307

16.421

WTI CRUDEOIL

69.72

70.52

71.22

72.02

72.72

NATURALGAS

2.801

2.818

2.841

2.858

2.881

COPPER

2.991

3.016

3.047

3.072

3.103

GOLD

LME BASE METALS OFFICIAL CASH PRICES ( $/MT )

LM WAREHOUSE STOCKS (INVENTORY)

METALS

PRICE ( $/MT )

CHANGE

% CHANGE

METALS

INVENTORY CHANGE ( MT )

ALUMINIUM

125.70

-0.40

-0.32%

ALUMINIUM

-3925

COPPER

415.55

8.45

2.08%

COPPER

-525

LEAD

125.95

1.80

1.45%

LEAD

600

ZINC

169.6

1.70

1.23%

ZINC

-350

TIN

564.00

-4.10

-0.72%

TIN

NA


Metals Update INTERNATIONAL COMMODITY NEWS  Gold fell to its lowest level since December on Wednesday, as the U.S. dollar surged and bond yields rose. Comex gold futures for June delivery were down 0.15% to $1,288.40 a troy ounce as of 10:37 AM ET (14:37 GMT). The price of bouillon was driven lower by the rise in the greenback. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.15% to 93.28. Gold is denominated in the U.S. currency and becomes more expensive for holders of other currencies when the dollar rises. Meanwhile the precious metal was held back by rising bond yields. The yield on the benchmark United States 10-Year Treasury note was at 3.085 after reaching a seven-year high of 3.095 on Tuesday. Strong upbeat data this week has also made it more likely that the Federal Reserve will increase interest rates.  West Texas Intermediate oil pared losses in North American trade on Wednesday, after data showed that oil supplies in the U.S. declined more than expected. Crude oil for July delivery on the New York Mercantile Exchange fell 25 cents, or 0.3%, to trade at $71.06 a barrel by 10:32AM ET (14:32GMT) compared to $70.78 ahead of the report. The U.S. Energy Information Administration said in its weekly report that crude oil inventories fell by 1.404 million barrels in the week ended May 11. Market analysts' had expected a crude-stock draw of 0.763 million barrels, while the American Petroleum Institute late Tuesday reported a build of 4.845 million. Supplies at Cushing, Oklahoma, the key delivery point for Nymex crude, increased by 0.053 million barrels last week, the EIA said. Total U.S. crude oil inventories stood at 432.4 million barrels as of last week, according to press release, which the EIA considered to be “in the lower half of the average range for this time of year”.  OPEC sees oil's rally towards $80 a barrel as a short-term spike driven by geopolitics rather than any supply shortage, four OPEC delegates said, a sign the group is not rushing yet to rethink its supply-cutting agreement. The view of top exporter Saudi Arabia is that any brief, speculator-driven jump in oil prices is not sufficient grounds for producers to boost output, an OPEC source familiar with the kingdom's thinking said. For such a decision to occur, the rally would need to be driven by data pointing to a supply impact, the source said. The four OPEC delegates said the latest rise in prices stemmed more from concern about U.S. sanctions on Iran and tension in the Middle East, rather than a suddenly tighter balance between oil supply and demand. "Prices are high just because of the tensions," one of the OPEC delegates, who declined to be identified, said.


Metals Update EPIC DAILY TOP PICKS GOLD COMEX -DAILY CANDLESTICK CHART

TRADING STRATEGY : BUY GOLD ABOVE 1295 TGT 1300 1310 SL BELOW 1285 SELL GOLD BELOW 1280 TGT 1275 1265 SL ABOVE 1285


Metals Update TODAY'S ECONOMIC EVENTS DISCLAIMER


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Daily comex report 17 may 2018 by epic research  

Epic Research is leading advisory firm which provides daily comex report and comex live gold and silver tips after analysis of change in rat...

Daily comex report 17 may 2018 by epic research  

Epic Research is leading advisory firm which provides daily comex report and comex live gold and silver tips after analysis of change in rat...

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