COMEX SIGNALS : Daily Technical Analysis Report

Global Research Limited

04th June, 2014

Daily Report COMEX

www.capitalvia.com.sg


04th June, 2014

Spot gold prices performed flat in beginning yesterday as stock markets in US

corrected after a series of record highs. Gold can make some correction due to

uncertainties due to uncertainties ahead of Thursday's European Central Bank

policy meeting and a huge decline in investor interest in the futures market. In

addition, the U.S. economic data showing a third straight month of gains for new

factory orders which will exert downside pressure on prices.

Gold


Gold price continue to trade weak today as the outcome of the ECB meeting will provide hints where

gold prices are headed. Besides, the jobs market scenario in the US will also act as a crucial factor

for gold prices from here on.

Forecast


04th June, 2014

Strength in gold prices, correction in US equities led to rise in spot silver prices as it

gained by 0.3% and closed at $18.8 per ounce. As well as, investors renewed

interest and bargain buying supported the prices.

Silver


We expect the weakness in silver prices on an account of weak Gold prices.

Forecast


WTI oil prices rose yesterday on account of strong PMI data released from US.

Besides, the ECB will meet to resolve the record of lows in May. Investors looking

forward for government data on US oil inventories. Industry statistics showed a

huge fall in crude stockpiles.

According to API, US Crude inventories fell by 1.4 million barrels to 382.5 million

barrels for the week ending on 30 May. As per the EIA report, IST and US oil

inventories is expected to fall by 0.3 million barrels for the week ending on 30 May.

Crude


On an intraday basis, we expect crude prices to trade positive on account of strong manufacturing

data from the US, Whereas the inventory data due to be released by the EIA to will provide further

trajectory.

Forecast

04th June, 2014

COMMODITY S1 S2 R1 R2

GOLD 1239 1234 1253 1257

SILVER 18.70 18.50 18.90 19.10

CRUDE 102.20 101.50 103.20 103.80



DAY'S HIGHLIGHT

Base metals jump on positive manufacturing data from the US, China.

US ISM Manufacturing PMI declined to 53.2-level in the last month.

API crude oil inventories are expected to gain by 0.2 mn bbl.

UK's Manufacturing PMI fell to 57-mark in the previous month.

The US Dollar Index (DX) declined around 0.1%.

04th June, 2014

Data Update for 04th JUNE 2014

Date Time Currency Impact Particular Actual Forecast Previous

WedJun 4 3:15am EUR Spanish Services PMI 56.1 56.5

3:45am EUR Italian Services PMI 51.4 51.1

4:00am EUR Final Services PMI 53.5 53.5

4:30am GBP High Services PMI 58.3 58.7

5:00am EUR PPI m/m -0.10% -0.20%

EUR Revised GDP q/q 0.20% 0.20%

Day 1 ALL High G7 Meetings

8:15am USD High ADP Non-Farm Employment Change217K 220K

8:30am CAD High Trade Balance -0.2B 0.1B

USD High Trade Balance -40.8B -40.4B

USD Revised Nonfarm Productivity q/q-2.20% -1.70%

USD Revised Unit Labor Costs q/q 4.80% 4.20%

9:45am USD Final Services PMI 58.4 58.4

10:00am CAD High BOC Rate Statement

CAD High Overnight Rate 1.00% 1.00%

USD High ISM Non-Manufacturing PMI 55.6 55.2

10:30am USD Crude Oil Inventories 1.7M

2:00pm USD Beige Book

9:30pm AUD High Trade Balance 0.53B 0.73B

9:45pm CNY HSBC Services PMI 51.4

11:45pm JPY 30-y Bond Auction 1.71|4.6



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04th June, 2014

COMEX SIGNALS : Daily Technical Analysis Report

Economy & Finance

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