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DAILY COMEX COMMODITY REPORT 07th MARCH-2014

DAILY MARKET OUTLOOK 26th FEBRUARY-2014

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DAILY MARKET OUTLOOK 07th MARCH-2014

PRECIOUS METALS AND INDUSTRIAL METALS COMMODITY

UNITS

PRICE

CHANGE

% CHANGE

CONTRACT

COMEX GOLD

USD/T OZ.

1349.50

9.20

0.69%

APR-14

GOLD SPOT

USD/T OZ.

1349.86

-0.96

-0.07%

N/A

COMEX SILVER

USD/T OZ.

21.54

-0.03

-0.16%

MAY-14

COMEX COPPER

USD/LB.

321.10

0.85

0.27%

MAY-14

PALTINUM SPOT

USD/T OZ.

1485.56

-0.13

-0.01%

N/A

ENERGY COMMODITY FUTURES COMMODITY

UNITS

PRICE

CHANGE

% CHANGE

CONTRACT

CRUDE OIL(WTI)

USD/BBL.

101.76

0.31

0.31%

APR-14

CRUDE OIL(BRENT)

USD/BBL.

108.32

0.22

0.20%

APR-14

NY. NATURAL GAS

USD/MMBTU

4.65

-0.02

-0.36%

APR-14

RBOB GASOLINE

USD/GAL.

294.67

0.64

0.22%

APR-14

NY. HEATING OIL

USD/GAL.

298.82

-0.40

-0.13%

APR-14

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DAILY SUPPORT & RESISTANCE 07th MARCH-2014

COMMODITY

SUPPORT-2

SUPPORT-1

PIVOT

RESISTANCE-1

RESISTANCE-2

GOLD(APR-14)

1322.80

1336.40

1345.00

1358.60

1367.20

SILVER(MAY-14)

20.88

21.19

21.42

21.73

21.96

WTICRUDEOIL(APR-14)

99.45

100.63

101.35

102.53

103.25

NATURALGAS(APR-14)

4.430

4.533

4.614

4.717

4.798

COPPER(MAY-14)

3.1847

3.2003

3.2097

3.2253

3.2347

LME BASE METALS 3rd MONTH CONTRACT

LME WAREHOUSE STOCKS (INVENTORY)

METALS

PRICE ( $/MT )

METALS

INVENTORY CHANGE (MT)

ALUMINIUM

1775.00

ALUMINIUM

-6900

COPPER

7035.00

COPPER

-1500

LEAD

2131.50

LEAD

1325

ZINC

2101.50

ZINC

8150

NICKEL

15490.00

NICKEL

-996

TIN

23260.00

TIN

-25

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INTERNATIONAL COMMODITY NEWS 07th MARCH-2014

Gold prices eased slightly in Asian trade on Friday, retracing overnight gains in the U.S. after the European Central Bank left monetary policy unchanged and sparked demand for the single currency, which came at the greenback's expense. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at US$1,350.00 a troy ounce, down 0.13%, afterhitting an overnight session low of $1,331.40 and off a high of $1,352.40.

Silver for May delivery was down 0.19% US$21.533 a troy ounce, while copper futures for May delivery were down 0.03% at US$3.215 a pound.

Crude oil prices gained in Asia on Friday as the markets shrugged off bearish factors such as ample U.S. supplies and looked ahead to prospects of renewed flareups in the Ukraine over a referendum on the sovereignty of the Crimean peninsula. On the New York Mercantile Exchange, West Texas Intermediate crude for delivery in April traded at 101.85 a barrel, up 0.28%, after hitting an overnight session low of $100.17 a barrel and a high of $101.63 a barrel. The U.S. Energy Information Administration said Wednesday that U.S. crude oil inventories rose by 1.4 million barrels in the week ended Feb. 28, surpassing expectations for an increase of 1.3 million barrels, which sent prices falling on concerns the country is awash in crude. Total U.S. crude oil inventories stood at 363.8 million barrels as of last week. The report also showed that total motor gasoline inventories decreased by 1.6 million barrels, compared to forecasts for a drop of 1.2 million barrels, while distillate stockpiles increased by 1.4 million barrels, confounding expectations for a withdrawal of 1.2 million barrels.

the ICE Futures Exchange in London, Brent oil futures for April delivery rose 0.7%, or $7.70, at $108.51 a barrel, from an intraday low of $107.37 a barrel overnight.

Natural gas futures shot up on Thursday after weekly U.S. supply data revealed the country's stockpiles fell more than expected last week. On the New York Mercantile Exchange, natural gas futures for delivery in April traded at $4.613 per million British thermal units during U.S. trading, up 1.99%. The commodity hit session high of $4.694 and a low of $4.510. The April contract settled down 3.09% on Wednesday to end at $4.523 per million British thermal units.

In the metals, copper slipped $20 to $7,010 per tonne even after inventories fell a net 1,500 tonnes to 272,175 tonnes. Zinc surged to a one-year high on Tuesday and remained strong today – it was $11 higher at $2,133, helped by CTA activity. Volumes at 8,100 lots have outpaced copper’s 7,100 lots.

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EPIC DAILY TOP PICKS 07th MARCH-2014

BRENT-CRUDEOIL-NYMEX DAILY CANDLESTICK CHART

TRADING STRATEGY : BRENT-CRUDEOIL-NYMEX has closed @ 108.31. If it breaks the level of 108.05, it can touch the level of 107.55 & 106.86 respectively. If it sustain above the level of 109.32, it can touch the level of 109.85 & 110.59 respectively. SELL BRENT-CRUDEOIL-NYMEX BELOW 108.05 TGTS 107.55, 106.86 SL 108.75. BUY BRENT-CRUDEOIL-NYMEX ABOVE 109.32 TGTS 109.85, 110.59 SL 108.62.

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TODAY'S ECONOMIC EVENTS 07th MARCH-2014

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Daily comex market report by epic research 7 march 2014  

Comex market is one of the volatile market in the financial sector but, Indians loves to trading volumes on Gold and Silver. Tips and recomm...

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