DAILY COMEX COMMODITY REPORT 12th MARCH-2014
DAILY MARKET OUTLOOK 26th FEBRUARY-2014
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DAILY MARKET OUTLOOK 12th MARCH-2014
PRECIOUS METALS AND INDUSTRIAL METALS COMMODITY
UNITS
PRICE
CHANGE
% CHANGE
CONTRACT
COMEX GOLD
USD/T OZ.
1350.60
3.90
0.29%
APR-14
GOLD SPOT
USD/T OZ.
1357.11
8.10
0.60%
N/A
COMEX SILVER
USD/T OZ.
20.99
0.17
0.82%
MAY-14
COMEX COPPER
USD/LB.
295.35
-7.80
-2.57%
MAY-14
PALTINUM SPOT
USD/T OZ.
1472.38
7.75
0.53%
N/A
ENERGY COMMODITY FUTURES COMMODITY
UNITS
PRICE
CHANGE
% CHANGE
CONTRACT
CRUDE OIL(WTI)
USD/BBL.
99.48
-1.64
-1.62%
APR-14
CRUDE OIL(BRENT)
USD/BBL.
108.26
-0.29
-0.27%
APR-14
NY. NATURAL GAS
USD/MMBTU
4.59
-0.01
-0.24%
APR-14
RBOB GASOLINE
USD/GAL.
295.95
1.01
0.34%
APR-14
NY. HEATING OIL
USD/GAL.
295.38
-1.36
-0.46%
APR-14
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DAILY SUPPORT & RESISTANCE 12th MARCH-2014
COMMODITY
SUPPORT-2
SUPPORT-1
PIVOT
RESISTANCE-1
RESISTANCE-2
GOLD(APR-14)
1331.43
1339.67
1346.23
1354.47
1361.03
SILVER(MAY-14)
20.32
20.61
20.97
21.26
21.62
WTICRUDEOIL(APR-14)
98.01
98.74
100.13
100.86
102.25
NATURALGAS(APR-14)
4.508
4.551
4.616
4.659
4.724
COPPER(MAY-14)
2.8710
2.9130
2.9850
3.0270
3.0990
LME BASE METALS 3rd MONTH CONTRACT
LME WAREHOUSE STOCKS (INVENTORY)
METALS
PRICE ( $/MT )
METALS
INVENTORY CHANGE (MT)
ALUMINIUM
1788.50
ALUMINIUM
-9025
COPPER
6689.00
COPPER
-7800
LEAD
2106.00
LEAD
-475
ZINC
2050.50
ZINC
6450
NICKEL
15675.00
NICKEL
-486
TIN
23245.00
TIN
-65
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INTERNATIONAL COMMODITY NEWS 12th MARCH-2014
•
Gold prices were a tad stronger in early Asia trade on Wednesday, supported by continued tension in the Crimean region of the Ukraine. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at $1,348.10 a troy ounce, up 0.10%, after hitting an overnight session low of $1,338.00 and off a high of $1,352.80. Ongoing geopolitical tensions in Ukraine bolstered gold's appeal as a hedge on Tuesday. Russia remained at odds with the West on how to end the standoff in Ukraine, while U.S. Secretary of State John Kerry declined an invitation to visit Russia for further discussions, which boosted gold prices.
•
Silver for May delivery traded at $20.930 a troy ounce, up 0.55%, while copper futures for May delivery gained 0.11% at $2.954 a pound, recovering from a slump earlier in the week.
•
Crude oil prices eased in Asia on Wednesday after U.S. industry data showed a strong gain in stocks. The American Petroleum Institute, an industry trade group, said late Tuesday that its own data for last week showed that crude stocks rose by 2.6 million barrels, according to industry sources. The API also said that gasoline stocks declined by 2.2 million barrels, distillate stocks declined 839,000 barrels and refinery runs decreased 0.3 percentage point to 86.5% of capacity, according to the sources. On the New York Mercantile Exchange, West Texas Intermediate crude for delivery in April traded at $99.55 a barrel, down 0.48%, after hitting an overnight session low of $100.12 a barrel and a high of $101.52 a barrel.
•
Brent crude on the ICE futures exchange settled up 47 cents, or 0.4%, at $108.55 a barrel on Tuesday.
•
Natural gas futures slid on Tuesday as markets began to look towards next week's arrival of spring, which brings milder temperatures in the U.S. and curbs demand for heating. On the New York Mercantile Exchange, natural gas futures for delivery in April traded at $4.588 per million British thermal units during U.S. trading, down 1.35%. The commodity hit session high of $4.682 and a low of $4.574. The April contract settled up 0.71% on Monday to end at $4.651 per million British thermal units.
•
Base metals prices held gains across the board during a less-frenetic Tuesday LME premarket, with the market showing signs of tentative consolidation - the intense selling pressure in the recent sell-off has waned.
•
Nickel's recent strength kept the bias towards the upside - there are fears over sanctions against major producer Russia due to the crisis in Ukraine. It traded at $15,695, up $240, having earlier peaked at its highest since April 2013 at $15,760. The zinc price was $7 higher at $2,047. The aluminium price was $16.50 higher at $1,792. Lead business at $2,108 was $24 higher. Tin rose $200 to $23,100.
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EPIC DAILY TOP PICKS 12th MARCH-2014
WTI-CRUDEOIL-NYMEX DAILY CANDLESTICK CHART
TRADING STRATEGY : WTI-CRUDEOIL-NYMEX has closed @ 99.50. If it breaks the level of 99.31, it can touch the level of 98.81 & 98.16 respectively. If it sustain above the level of 101.03, it can touch the level of 101.53 & 102.25 respectively. SELL WTI-CRUDEOIL-NYMEX BELOW 99.31 TGTS 98.81, 98.16 SL 100.02. BUY WTI-CRUDEOIL-NYMEX ABOVE 101.03 TGTS 101.53, 102.25 SL 100.33.
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TODAY'S ECONOMIC EVENTS 12th MARCH-2014
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