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COMEX

REPORT

REPORT 20TH MAY 2013


8

NEWS RADAR

Silver Plunges to Lowest Since 2010 as Gold Drops for Eighth Day Silver plunged to the lowest level since September 2010, sending its ratio to gold to the highest in 33 months, while bullion extended the longest slump in four years as investment holdings contracted and stocks rallied. Silver for immediate delivery tumbled as much as 7 percent to $20.6985 an ounce, and was at $21.345 at 11:32 a.m. in Singapore. The ratio surged to 64.89, the highest since August 2010. Gold lost as much as 1.5 percent to $1,338.85 an ounce, the lowest price since April 18, and was at $1,347.23. Gold is down for an eighth session, the worst run since March 2009.

Expect base metals to move down. COMEX copper for May delivery closed at USD 326.50 a tonne, down by USD 2.30, or 0.70 percent. Copper prices were down as a slowdown in euro zone economy and poor US industrial production hurt prices. A build up in copper inventories at LME warehouses and a stronger dollar pushed prices further down. Base Metals are expected to move down as a slew of weak economic data from China and rising supplies are likely to put pressure on base metals. US housing data expected slightly positive today could limit the downside.


GOLD HOURLY CHART

S1

S2

R1

R2

1337

1324

1351

1475

GOLD LOOKS BEARISH SELL BELOW 1341.00 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 1330.00 LEVEL AND MAINTAINING SL OF 1350.00


SILVER HOURLY CHART

S1

S2

R1

R2

21.04

20.74

21.72

21.95

SILVER LOOKS BEARISH SELL BELOW 21.16 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 20.80 LEVEL AND MAINTAINING SL OF 21.40


COPPER HOURLY CHART

S1

S2

R1

R2

3.2772

3.2547

3.3148

3.3333

COPPER LOOKS BULLISH BUY ABOVE 3.3210 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 3.3400 LEVEL AND MAINTAINING SL OF 3.3000 3


CRUDE OIL HOURLY CHART

S1 95.14

S2 94.54

R1 96.24

R2 96.78

CRUDE LOOKS BEARISH SELL AROUND 95.40 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 94.40 LEVEL AND MAINTAINING SL OF 96.40


MARKET STATISTICS OPEN

HIGH

LOW

CLOSE

GOLD

1363.63

1365.46

1337.90

1345.35

SILVER

22.30

22.36

20.24

21.40

CRUDE

95.92

96.23

95.51

95.85

COPPER

3.3115

3.3210

3.2693

3.3030

NGAS

4.091

4.129

4.085

4.121

1850.63

1840.88

1844.26

2014.88

1998.63

2004.00

ALUMINIUM 1850.63 LEAD NICKEL

2014.75

14810.00 14865.00 14767.00 14791.50


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Comex Report by www.epicresearch.co- 20th May 2013  

Silver plunged to the lowest level since September 2010, sending its ratio to gold to the highest in 33 months, while bullion extended the l...

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