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COMEX

REPORT

REPORT 6TG MAY 2013


NEWS RADAR

8

Gold futures pushed higher as investors bet that central banks would continue to deploy easy-money policies and draw buyers to the precious metal. The European Central Bank said Thursday it would cut its benchmark interest rate by 0.25 percentage point, a move widely expected as the euro-zone economy continued to struggle. Gold, which yields no interest, tends to appeal to investors more when rates are low and central banks are moving to push more cash into the financial system. Some investors also buy gold as a hedge against the inflation that can follow accommodative monetary policy. The most actively traded contract, for June delivery, was recently up $20.60, or 1.4%, at $1,466.80 a troy ounce on the Comex division of the New York Mercantile Exchange.

Gold bulls are "encouraged by the continued easy money policies TRADING TIPSFederal Reserve and European EXPERTCentral OPINION suggested by the U.S. Bank at their meetings this week," Kitco Metals analyst Jim Wyckoff said in a  SELL GOLD BELOW 1460 TGS  GOLD LOOKS BEARISH note. 1440/1415 SL 1475  SELL SILVER BELOW 23.70 TGS 23.40/23.00 SL 24.95  BUY COPPER ABOVE 3.3200

 SILVER LOOKS BEARISH

 CRUDE OIL LOOKS BULLISH 

COPPER LOOKS BULLISH

 NGAS LOOKS BEARISH

TGS 3.3500/3.3800 SL

 LEAD LOOKS BULLISH

3.3000

 NICKEL LOOKS BULLISH

 BUY CRUDE BELOW 96.00 TGS 97.00/98.50 SL 95.00

 ALUMINIUM LOOKS BULLISH  ZINC LOOKS BULLISH


GOLD HOURLY CHART

S1

S2

R1

R2

1454

1440

1482

1496

GOLD LOOKS BEARISH SELL BELOW 1460.00 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 1440.00 LEVEL AND MAINTAINING SL OF 1472.00


SILVER HOURLY CHART

S1

S2

R1

R2

23.80

23.50

24.26

24.52

SILVER LOOKS BEARISH SELL BELOW 23.70 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 23.50 LEVEL AND MAINTAINING SL OF 23.90


COPPER HOURLY CHART

S1

S2

R1

R2

3.2880

3.2600

3.3248

3.3500

COPPER LOOKS BEARISH SELL BELOW 3.3200 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 3.3500 LEVEL AND MAINTAINING SL OF 3.3000 3


CRUDE OIL HOURLY CHART

S1 94.80

S2 94.00

R1 96.00

R2 96.90

CRUDE LOOKS BEARISH BUY AROUND 96.00 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 97.00 LEVEL AND MAINTAINING SL OF 95.00


MARKET STATISTICS OPEN

HIGH

LOW

CLOSE

GOLD

1467.05

1487.80

1456.02

1468.83

SILVER

23.79

24.38

23.42

24.08

CRUDE

93.95

96.01

93.55

95.41

COPPER

3.1055

3.3130

3.1048

3.3058

NGAS

4.038

4.065

3.973

4.054

1888.01

1821.13

1887.38

2047.38

1946.25

2046.88

ALUMINIUM 1821.63 LEAD NICKEL

1951.75

14780.00 15202.00 14745.00 15145.50

ECONOMIC CALENDAR DATE

CURRENCY

MAY 6

EUR

FORECAST

ECB President Draghi Speaks

PREVIOUS


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COMEX-REPORT-DAILY by epic research 06 May 2013