COMEX

REPORT

REPORT
31ST MAY 2013

NEWS RADAR

Gold hits two-week high as U.S. data quells Fed taper talk
Gold rose to a two-week high buoyed by a fall in the dollar after weaker-thanexpected U.S. economic data boosted prospects the Federal Reserve will keep its monetary stimulus in place. Speculation the U.S. central bank could start reining in its $85 billion in monthly asset purchases as early as the summer had sparked a sell-off in gold and a rally in the dollar last week. Prices rose over 1.5 percent to $1,417.81 an ounce after data on Thursday showed the U.S. economy grew at a slower pace than initially expected in the first quarter. Separately, weekly initial jobless claims unexpectedly rose last week and pending home sales increased less than expected.

Copper up on China demand prospects, tighter supply

Copper rose almost 1 percent on Thursday as investors bet on improved imports by the biggest consumer China and as data from top producer Chile showed April output fell from a year earlier due to strikes and production problems. Threemonth copper on the London Metal Exchange closed at $7,320, almost 1 percent up, reversing losses. Lending copper some support, premiums for bonded copper in Shanghai were heard as high as $150 a tonne, according to China price provider SMM, a sign demand for delivery of the metals has improved.

GOLD HOURLY CHART

S1 1402

S2 1386

R1 1423

R2 1440

GOLD LOOKS BULLISH BUY ABOVE 1422 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 1432 LEVEL AND MAINTAINING SL OF 1412.00

SILVER HOURLY CHART

S1 22.65

S2 22.32

R1 23.02

R2 23.31

SILVER LOOKS ABOVE BUY ABOVE 22.90 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 23.15 LEVEL AND MAINTAINING SL OF 22.70

COPPER HOURLY CHART

S1 3.2942

S2 3.2705

R1 3.3280

R2 3.3364

COPPER LOOKS BEARISH SELL BELOW 3.2950 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 3.3150 LEVEL AND MAINTAINING SL OF 3.2700 3

CRUDE OIL HOURLY CHART

S1 93.25

S2 92.64

R1 94.51

R2 95.20

CRUDE LOOKS BEARISH SELL AROUND 94.00 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 93.00 LEVEL AND MAINTAINING SL OF 95.00

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