11-April-2019 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.
1310.85
-3.05
-0.23
APR-19
COMEX SILVER
USD/T OZ.
15.193
-0.051
-0.33
MAY-19
COMEX COPPER
USD/LB.
2.925
0.004
0.14
MAY-19
PLATINUM
USD/T OZ.
910.50
3.25
0.36
APR-19
ENERGY COMMODITY FUTURES COMMODITY
UNITS
PRICE
CHANGE
% CHANGE
CONTRACT
CRUDE OIL(WTI)
USD/BBL.
64.41
-0.20
-0.31
APR-19
CRUDE OIL(BRENT)
USD/BBL.
71.66
0.07
0.10
MAY-19
NY. NATURAL GAS
USD/MMBTU
2.696
-0.004
-0.15
APR-19
NY. HEATING OIL
USD/GAL.
2.0834
0.0016
0.08
APR-19
Metals Update DAILY SUPPORT & RESISTANCE COMMODITY
SUPPORT-2
SUPPORT-1
PIVOT
RESISTANCE-1
RESISTANCE-2
GOLD
1300.68
13006.31
1310.48
1316.11
1320.28
SILVER
15.047
15.122
15.192
15.267
15.337
WTI CRUDEOIL
63.73
64.03
64.36
64.66
64.99
NATURALGAS
2.664
2.682
2.705
2.23
2.746
COPPER
2.894
2.908
2.925
2.939
2.956
LME BASE METALS OFFICIAL CASH PRICES ( $/MT )
LM WAREHOUSE STOCKS (INVENTORY)
METALS
PRICE ( $/MT )
CHANGE
% CHANGE
METALS
INVENTORY CHANGE ( MT )
ALUMINIUM
149.90
0.45
0.30
ALUMINIUM
-3975
COPPER
449.80
0.45
0.10
COPPER
-750
LEAD
135.20
-2.30
-1.67
LEAD
-525
ZINC
225.65
-2.40
1.05
TIN
NA
TIN
1443.50
16.00
-1.10
ZINC
-200
Metals Update INTERNATIONAL COMMODITY NEWS
Oil prices fell on Thursday after U.S. crude stockpiles surged to their highest levels in almost 17 months amid record production. International benchmark Brent futures were at $71.57 per barrel at 0056 GMT, down 16 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were at $64.36 per barrel, down 25 cents, or 0.4 percent, from their previous settlement. U.S. crude oil production remained at a record 12.2 million barrels per day (bpd), making the United States the world's biggest oil producer ahead of Russia and Saudi Arabia. Growth in U.S. supply, global oil markets remain tight amid supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC), U.S. sanctions on oil exporters Iran and Venezuela, and escalating fighting in Libya. The Federal Reserve signaled it won't be easing as yet. In fact, it may be more inclined to hike. And the funds that have pushed the precious metals up in the past week might register their disappointment in Thursday's trading. Spot gold, reflective of trades in bullion, was up $3.87, or 0.3%, at $1,307.97 an ounce by 4:40 PM ET (20:40 GMT), after hitting a twoweek high at $1,30.65. Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, settled the official session up $5.60, or 0.4%, at $1,313.90 per ounce. It hit a two-week high of $1,314.65 earlier. Federal Reserve officials have left room (just a little bit) for the possibility of interest rate increases before the end of the year should economic conditions improve, minutes from their March meeting, released after Wednesday's settlement in precious metals, showed. But a majority of Fed members did say they expected rates to remain on hold in 2019. Venezuela's oil output sank to a new long-term low last month due to U.S. sanctions and blackouts, the country told OPEC, deepening the impact of a global production curb and further tightening supplies. Supply cuts by OPEC and partners led by Russia, plus involuntary reductions in Venezuela and Iran, have helped drive a 32 percent rally in crude prices this year, prompting pressure from U.S. President Donald Trump for the group to ease its market-supporting efforts. In a monthly report released on Wednesday, the Organization of the Petroleum Exporting Countries said Venezuela told the group that it pumped 960,000 barrels per day (bpd) in March, a drop of almost 500,000 bpd from February. The figures could add to a debate within the so-called OPEC+ group of producers on whether to maintain oil supply cuts beyond June. A Russian official indicated this week Moscow wanted to pump more, although OPEC has been saying the curbs must remain.
Metals Update EPIC DAILY TOP PICKS GOLD COMEX -DAILY CANDLESTICK CHART
TRADING STRATEGY : BUY GOLD ABOVE 1315 TGT 1320 1330 SL BELOW 1305 SELL GOLD BELOW 1305 TGT 1300 1290 SL ABOVE 1315
Metals Update TODAY'S ECONOMIC EVENTS DISCLAIMER
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