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DAILY COMEX COMMODITY REPORT 09th MAY-2014

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DAILY MARKET OUTLOOK 09th MAY-2014

PRECIOUS METALS AND INDUSTRIAL METALS COMMODITY

UNITS

PRICE

CHANGE

% CHANGE

CONTRACT

COMEX GOLD

USD/T OZ.

1291.10

0.50

0.04%

JUNE-14

GOLD SPOT

USD/T OZ.

1289.16

-0.42

-0.03%

N/A

COMEX SILVER

USD/T OZ.

19.19

-0.14

-0.72%

JULY-14

SILVER SPOT

USD/T OZ.

19.17

-0.12

-0.62%

N/A

COMEX COPPER

USD/LB.

3.0610

0.0250

0.82%

JULY-14

PALTINUM SPOT

USD/T OZ.

1433.50

2.75

0.19%

N/A

ENERGY COMMODITY FUTURES COMMODITY

UNITS

PRICE

CHANGE

% CHANGE

CONTRACT

CRUDE OIL(WTI)

USD/BBL.

100.31

-0.44

-0.44%

JUNE-14

CRUDE OIL(BRENT)

USD/BBL.

108.01

-0.10

-0.09%

JUNE-14

NY. NATURAL GAS

USD/MMBTU

4.577

-0.167

-3.52%

JUNE-14

NY. HEATING OIL

USD/GAL.

291.66

-1.16

-0.40%

JUNE-14

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DAILY SUPPORT & RESISTANCE 09th MAY-2014

COMMODITY

SUPPORT-2

SUPPORT-1

PIVOT

RESISTANCE-1

RESISTANCE-2

GOLD(JUNE-14)

1280.97

1286.03

1290.77

1295.83

1300.57

SILVER(JULY-14)

18.97

19.08

19.23

19.34

19.49

WTICRUDEOIL(JUNE-14)

99.35

99.83

100.36

100.84

101.37

NATURALGAS(JUNE-14)

4.440

4.509

4.629

4.698

4.818

COPPER(JULY-14)

3.0103

3.0357

3.0523

3.0777

3.0943

LME BASE METALS OFFICIAL CASH PRICES ( $/MT )

LME WAREHOUSE STOCKS (INVENTORY)

METALS

PRICE ( $/MT )

CHANGE

% CHANGE

METALS

INVENTORY CHANGE (MT)

ALUMINIUM

1717.50

-11.00

-0.64%

ALUMINIUM

-9700

COPPER

6690.50

2.50

0.04%

COPPER

-3925

LEAD

2064.00

-18.00

-0.86%

LEAD

-125

ZINC

2020.00

-29.00

-1.42%

ZINC

-1250

NICKEL

19390.00

810.00

4.36%

NICKEL

-468

TIN

23250.00

0.00

0.00%

TIN

UNCHANGED

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INTERNATIONAL COMMODITY NEWS 09th MAY-2014

Gold prices gained in Asia on Friday driven by physical demand.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery traded at $1,289/80 a troy ounce, up 0.16%, after hitting an overnight session low of $1,285.70 and off a high of $1,295.50.

Silver comex for July delivery was up 0.11% at $19.160 a troy ounce. Copper futures for July delivery were up 0.04% at $3.061 a pound.

Crude oil prices were higher in Asia on Friday after China's April CPI and PPI data. CPI rose 1.8% year-on-year. less than the 2.0% expected and PPI fell 2.0%, more than the drop of 1.9% expected. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in June traded at $100.45 a barrel, up 0.18%, after hiitning an overnight session low of $99.88 a barrel and a high of $100.93 a barrel. The June contract settled up 1.28% at $100.77 a barrel on Wednesday.

Brent crude on the ICE futures exchange fell 9 cents, or 0.1%, to $108.04 a barrel.

Natural gas prices dropped on Wednesday after data revealed U.S. stockpiles rose more than expected last week. On the New York Mercantile Exchange, Natural gas futures for delivery in June traded at $4.606 per million British thermal units during U.S. trading, down 2.84%. The commodity hit session high of $4.755 and a low of $4.588. The June contract settled down 1.23% on Wednesday to end at $4.740 per million British thermal units.

Base metals prices largely ignored positive data out of China in Thursday's LME premarket, holding in recent ranges and generally drifting lower. The copper price at $6,663 per tonne was up $8 on Wednesday's close, while volumes have been soft - around 4,600 lots have changed hands so far. Stocks and cancelled warrants both fell a net 3,925 tonnes to 213,025 tonnes and 98,825 tonnes respectively. Nickel activity surged on news that Vale has suspended production at its 40,000-tonne-per-year Goro nickel processing plant and mine in New Caledonia, spiking to its highest since the week of February 27, 2012 at $19,786. It settled back at $19,443, still up $793 or around four percent. Around 7,400 lots have traded so far, outpacing the rest of the complex.. The aluminium price at $1,763 was $6 lower although stocks declined 9,700 tonnes to 5,321,900 tonnes, while cancelled warrants at 2,907,775 tonnes were down 9,500 tonnes. Tin at $23,125 was up $25 - there was no changes in stocks but cancellations climbed 275 tonnes to 3,780 tonnes. The lead price was unchanged at $2,080 after stocks and cancelled warrants both declined 125 tonnes to 193,475 tonnes and 20,625 tonnes respectively. Zinc at $2,028 was $2.50 lower; stocks fell 1,250 tonnes to 762,500 tonnes.

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EPIC DAILY TOP PICKS 09th MAY-2014

NATURALGAS-NYMEX DAILY CANDLESTICK CHART

TRADING STRATEGY : NATURALGAS-NYMEX has closed @ 4.585. If it breaks the level of 4.542, it can touch the level of 4.502 & 4.449 respectively. If it sustain above the level of 4.673, it can touch the level of 4.713, 4.765 respectively. SELL NATURALGAS-NYMEX BELOW 4.542 TGTS 4.502, 4.449 SL 4.597. BUY NATURALGAS-NYMEX ABOVE 4.673 TGTS 4.713, 4.765 SL 4.618.

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TODAY'S ECONOMIC EVENTS 09th MAY-2014

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Daily comex research report by epic research for 09 may 2014  

Epic Research Pvt. ltd. is a leading financial services provider with presence in Indian and other global capital markets.

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