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DAILY COMEX COMMODITY REPORT
17th MARCH 2015
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DAILY MARKET OUTLOOK
17th MARCH 2015
PRECIOUS METALS AND INDUSTRIAL METALS
COMMODITY
UNITS
PRICE
CHANGE
% CHANGE
CONTRACT
COMEX GOLD
USD/T OZ.
1,154.40
1.20
0.10%
APR-15
COMEX SILVER
USD/T OZ.
15.578
-0.039
-0.25%
MAY-15
COMEX COPPER
USD/LB.
2.659
-0.006
-0.23%
MAY-15
PALTINUM
USD/T OZ.
1,103.30
-3.25
-0.29%
APR-15
ENERGY COMMODITY FUTURES
COMMODITY
UNITS
PRICE
CHANGE
% CHANGE
CONTRACT
CRUDE OIL(WTI)
USD/BBL.
46.04
-0.09
-0.20%
MAY-15
CRUDE OIL(BRENT)
USD/BBL.
54.00
-0.14
-0.26%
MAY-15
NY. NATURAL GAS
USD/MMBTU
2.764
0.018
0.64%
APR-15
NY. HEATING OIL
USD/GAL.
1.7011
-0.0025
-0.15%
APR-15
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DAILY SUPPORT & RESISTANCE
17th MARCH 2015
COMMODITY
SUPPORT-2
SUPPORT-1
PIVOT
RESISTANCE-1
RESISTANCE-2
GOLD(APR-15)
1141.27
1147.24
1155.27
1161.24
1169.27
SILVER(MAY-15)
15.356
15.487
15.621
15.752
15.886
WTICRUDEOIL(MAY-15)
43.93
45.04
46.16
47.24
48.36
NATURALGASAPR -15)
2.647
2.682
2.715
2.750
2.783
COPPER(MAY-15)
2.634
2.650
2.667
2.683
2.700
LME BASE METALS OFFICIAL CASH PRICES ( $/MT )
LME WAREHOUSE STOCKS (INVENTORY)
METALS
PRICE ( $/MT )
CHANGE
% CHANGE
METALS
INVENTORY CHANGE (MT)
ALUMINIUM
125.70
-0.40
-0.32%
ALUMINIUM
-6350
COPPER
415.55
8.45
2.08%
COPPER
+4000
LEAD
125.95
1.80
1.45%
LEAD
-1075
ZINC
139.60
1.70
1.23%
ZINC
-1200
NICKEL
961.00
16.70
1.77%
NICKEL
-1236
TIN
564.00
-4.10
-0.72%
TIN
-250
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INTERNATIONAL COMMODITY NEWS
17th MARCH 2015
•
Fuel demand in Texas is growing strongly as lower oil prices encourage motorists to use their vehicles more and buy larger replacements.
Receipts of motor fuel taxes in February 2015 were 6 percent higher than in the same month in 2014, according to the Texas Comptroller
of Public Accounts. Texas collected almost $284 million in motor fuel taxes last month compared with $269 million in February
2014.Motor fuel taxes must be paid to the comptroller by the 25th day of the month after which they are collected by suppliers and
distributors, so the February receipts are for gasoline and diesel sold in January. Year-over-year collections – and by extension gasoline
and diesel sales – are growing at the fastest rate for more than a decade.
•
Those registered with the Shanghai Futures Exchange (SHFE) jumped again this week to 241,616 tonnes. They are now up by 136,000
tonnes since the start of January and close to the record high of 247,591 tonnes seen in March 2013.Indeed, stripping out the small
bonded warehouse component, which was introduced in 2011 and which has been unchanged so far this year, SHFE stocks are already at
all-time highs. Stocks registered with the London Metal Exchange (LME) also continue to boom. At 333,575 tonnes they are back at levels
last seen in the closing days of 2013.The speed of the build has been turbo-charged. Total exchange stocks of copper, including those
held in CME warehouses, have doubled in the space of three months to 582,000 tonnes.
•
Gold prices were higher to steady in early Asia on Tuesday with the focus on this week's Federal Reserve meeting and overall prospects
for physical demand from China and India. On the Comex division of the New York Mercantile Exchange, gold prices for April delivery
rose 0.09% to $1,154.20 per troy ounce. Overnight, gold future prices remained relatively stable on Monday, amid a slight rally by the
euro after the currency hit record-lows last week at week’s end as metal traders await the Federal Open Market Committee’s (FOMC)
meeting on Wednesday. The Fed could provide details on when it plans to raise interest rates. The U.S. central bank can remove a
reference to remaining patient, which typically indicates that an interest rate hike could occur within the next two FOMC meetings.
•
A four-day drop in U.S. oil prices has shattered a month of relative stability and raised the specter of another sustained move lower as
rocketing production and swelling inventories re-emerge as dominant market forces. Hammered by oversupply, U.S. oil prices fell 60
percent from $107 a barrel in June to below $44 a barrel in January before rallying and trading in a range around $50 in February. Experts
began to discuss whether oil had "bottomed out", or reached its low point. But without any clear sign that oil output is slowing, and as
winter fuel demand abates and inventory levels continue to rise every week, oil may be set for a push below $40 a barrel
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EPIC DAILY TOP PICKS
17th MARCH 2015
GOLD COMEX -DAILY CANDLESTICK CHART
TRADING STRATEGY :
TRADING STRATEGY :
BUY GOLD ABOVE 1159.50 TARGET 1164.50 1170.50 SL 1153.50
SELL GOLD BELOW 1150 TARGET 1145 1139 SL 1156
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TODAY'S ECONOMIC EVENTS
17th MARCH 2015
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DISCLAIMER
17th MARCH 2015
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