COMEX

REPORT

REPORT
28TH MAY 2013

NEWS RADAR

Gold falls as stocks hold firm; physical demand stays strong

Gold fell on Asian stock markets and the dollar firmed after a turbulent week, undermining the metal's appeal as a safe haven and prompting more selling in bullion-backed exchange traded funds. Demand in the physical market continued to hold prices near $1,400 an ounce as the recent drops in the spot market lured buyers to invest in bullion. Spot gold fell 0.26 percent to $1,390.71 an ounce, after gaining more than half a percent on Monday. It rose 2 percent last week - its strongest weekly percentage gain in a month - though the metal is down 17 percent for the year. U.S. gold rose 0.22 percent to $1,389.60.

Copper Drops on Concern Slowing Growth in China May Hurt Demand

Copper declined for the third straight day, paring a monthly advance, on concern that slowing economic growth in China may crimp demand in the worlds biggest consumer of industrial metals. Nickel fell. Metal for delivery in three months dropped as much as 1.1 percent to $7,220 a metric ton on the London Metal Exchange, and was at $7,237 at 11:19 a.m. in Singapore. Futures for July delivery fell 0.7 percent to $3.2730 a pound on the Comex. The LME and Comex floor trading were shut for holidays . Premier Li Keqiang, speaking in Berlin yesterday, said that policy makers may maintain slower growth, with China facing huge challenges as it opens up the economy.on fresh worries that sluggish economic growth will limit copper consumption after data showing the euro-zone economy shrank in the first quarter.

GOLD HOURLY CHART

S1 1373

S2 1361

R1 1401

R2 1418

GOLD LOOKS BEARISH SELL BELOW 1382 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 1370 LEVEL AND MAINTAINING SL OF 1390.00

SILVER HOURLY CHART

S1 22.34

S2 22.09

R1 22.72

R2 22.98

SILVER LOOKS BELOW SELL BELOW 22.40 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 22.15 LEVEL AND MAINTAINING SL OF 22.60

COPPER HOURLY CHART

S1 3.2758

S2 3.2600

R1 3.3194

R2 3.3354

COPPER LOOKS BEARISH SELL BELOW 3.2600 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 3.2400 LEVEL AND MAINTAINING SL OF 3.2800 3

CRUDE OIL HOURLY CHART

S1 93.04

S2 92.25

R1 94.29

R2 95.18

CRUDE LOOKS BEARISH SELL AROUND 93.00 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 92.00 LEVEL AND MAINTAINING SL OF 94.00

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