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					         MTECHTIPS COMMODITY MARKET NEWS 2
MTECHTIPS:-Gold rises as hedge funds boost long bets

Gold futures are trading higher in the early part of Monday’s Asian session as
some hedge funds and other speculators are seen increasing their long bets on
the yellow metal despite last week’s dismal performance. On the Comex
division of the New York Mercantile Exchange, gold futures for June delivery
advanced 0.66% to USD1,404.85 per troy ounce in Asian trading Monday. The
good start to the week comes after bullion plunged in the first two trading days
of last week and finished down 5.4% for the week, good for the fourth weekly
slide in a row. Gold prices were likely to find support at USD1,322.25 a troy
ounce, the low from April 16 and a 27-month low and near-term resistance at
USD1,425.55, Friday’s high. Fund managers and other traders raised their net
long exposure to gold by 9.8% to 61,579 futures and options in the week ending
April, according to data from the U.S. Commodities Futures Trading
Commission. While gold prices have been struggling in the spot market, physical
demand remains robust. The China Gold Association said sales jumped on April
15 and 16 while prices slid. The U.S. Mint is on pace to have its best month of
gold sales in nearly three years.

MTECHTIPS:-Gold futures surge 2% to hit 1-week high on technical buying

Gold futures were higher for the fourth consecutive day on Monday, moving
further off last week’s two-year low as a bout of technical buying kicked in after
prices broke above a key resistance level. Some bargain buying and indications
of mounting physical demand in Asia and the U.S. also contributed to gains. On
the Comex division of the New York Mercantile Exchange, gold futures for June
delivery traded at USD1,424.15 a troy ounce during European morning hours, up
2.1% on the day. Comex gold prices rose by as much as 2.3% earlier in the
session to hit a daily high of USD1,427.15 a troy ounce, the strongest level since
April 15. Comex gold fell to a 27-month low of USD1,322.25 an ounce on April
16.Gold prices were likely to find support at USD1,322.25 a troy ounce, the low
from April 16 and near-term resistance at USD1,440.10, the high from March 7,
2011.Gold's gains accelerated after breaking above a key technical resistance
level close to the USD1,420-level, triggering a flurry of automatic buy orders.
Some bargain buying also contributed to gains, as investors returned to the
market to seek cheap valuations amid speculation prices fell too far too fast.
Gold futures lost 5.4% last week, the fourth consecutive weekly decline.

MTECHTIPS:-Oil slightly lower as growth concerns linger

Oil futures are trading modestly lower in the early part of Monday’s Asian
session as traders look for signs about crude’s next move following a savage
tumble last week. On the New York Mercantile Exchange, light, sweet crude
futures for June delivery inched lower by 0.05% to USD88.22 per barrel in Asian
trading Monday. That comes after oil slid 3.15% last week, good for the third
straight weekly decline. Nymex oil prices have lost nearly 7%, or almost USD6.50
per barrel, since April 11. Oil prices slumped after the International Monetary
Fund issued a spate of less-than-encouraging estimates for the world’s major
economies. The IMF cut its 2013 forecast for global growth to 3.3%, down from
its January projection of 3.5%. The growth projection for China was trimmed to
8% from 8.2%, while the growth outlook for the U.S. was lowered to 1.9% from
2%. The U.S. and China are the world’s two largest oil consumers. Oil traders
will no doubt be watching the initial reading on U.S. first-quarter GDP due out
on Friday. Elsewhere, Ireland’s Providence Resources said last week it is hoping
to recover 350 million barrels of oil off the coast of County Cork. That amount
may not sound like much, but Ireland currently imports 100% of the 140,000
barrels per day it consumes.

MTECHTIPS:-Crude oil declines ahead of contract expiry; Brent below USD100

Crude oil futures edged down during European morning hours on Monday,
holding near the lowest level in four months as investors remained concerned
over the global economic outlook and its impact on future oil demand.On the
New York Mercantile Exchange, light sweet crude futures for delivery in May
traded at USD87.76 a barrel during European morning trade, down 0.2% on the
day. The May contract held in between a tight trading range of USD88.53 a
barrel, the daily high and a session low of USD87.75 a barrel. Nymex oil prices
fell to a four-month low of USD85.60 a barrel on April 18.The May crude
contract is due to expire at the end of Monday’s trading session. Contract
expiration often leads to volatile sessions as market participants look to close
out positions or reposition their portfolios. Meanwhile, the more actively traded
contract for June delivery was down 0.2% to trade at USD88.09 a barrel. Oil
prices have been under heavy selling pressure in recent sessions, as investors
exited the market amid worries about the economic outlook in top oil
consumers, the U.S. and China. Nymex oil prices have lost nearly 7%, or almost
USD6.50 per barrel, since April 11. The International Monetary Fund cut its 2013
forecast for global growth to 3.3% last week, down from its January projection
of 3.5%. The growth projection for China was trimmed to 8% from 8.2%, while
the growth outlook for the U.S. was lowered to 1.9% from 2%.

MTECHTIPS:-Silver futures up sharply, track gold prices higher

Silver futures rose sharply during European morning hours on Monday, tracking
gold prices higher as investors returned to the market to seek cheap valuations
following last week’s rout. On the Comex division of the New York Mercantile
Exchange, silver futures for May delivery traded at USD23.30 a troy ounce
during European morning trade, up 1.5% on the day. Comex silver prices rose by
as much as 2% earlier in the session to hit a daily high of USD23.55 a troy ounce.
Prices fell to a 30-month low of USD22.01 a troy ounce on April 16. Silver prices
were likely to find support at USD22.03 a troy ounce, the low from April 16 and
near-term resistance at USD23.85, the previous session’s high. Silver futures
have lost nearly 16%, or almost USD4.30 per ounce, since April 12, as investors
exited the market after prices broke below key support levels. Prices of the
silver metal are down nearly 53% since hitting an all-time high of USD49.81 an
ounce in April 2011.

MTECHTIPS:-Copper futures re-approach 18-month low on demand concerns

Copper futures were down during European morning hours on Monday, trading
close to last week’s 18-month low as global growth concerns continued to weigh
on the industrial metal. Copper is sensitive to the economic outlook because of
its widespread uses in construction and manufacturing. On the Comex division
of the New York Mercantile Exchange, copper futures for May delivery traded at
USD3.114 a pound during European morning trade, down 1.1% on the day. New
York-traded copper prices fell by as much as 2% earlier in the session to hit a
daily low of USD3.083 a pound. Comex copper prices fell to USD3.065 a pound
last Thursday, the weakest level since October 20, 2011. Copper prices have
been under heavy selling pressure in recent sessions, as investors exited the
market amid worries about the economic outlook in top copper consumers
China and the U.S.



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Description: MTECHTIPS COMMODITY MARKET NEWS 2 MTECHTIPS:-Gold rises as hedge funds boost long bets Gold futures are trading higher in the early part of Monday’s Asian session as some hedge funds and other speculators are seen increasing their long bets on the yellow metal despite last week’s dismal performance. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery advanced 0.66% to USD1,404.85 per troy ounce in Asian trading Monday. The good start to the week comes after bullion plunged in the first two trading days of last week and finished down 5.4% for the week, good for the fourth weekly slide in a row. Gold prices were likely to find support at USD1,322.25 a troy ounce, the low from April 16 and a 27-month low and near-term resistance at USD1,425.55, Friday’s high. Fund managers and other traders raised their net long exposure to gold by 9.8% to 61,579 futures and options in the week ending April, according to data from the U.S. Commodities Futures Trading Commission. While gold prices have been struggling in the spot market, physical demand remains robust. The China Gold Association said sales jumped on April 15 and 16 while prices slid. The U.S. Mint is on pace to have its best month of gold sales in nearly three years. MTECHTIPS:-Gold futures surge 2% to hit 1-week high on technical buying Gold futures were higher for the fourth consecutive day on Monday, moving further off last week’s two-year low as a bout of technical buying kicked in after prices broke above a key resistance level. Some bargain buying and indications of mounting physical demand in Asia and the U.S. also contributed to gains. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery traded at USD1,424.15 a troy ounce during European morning hours, up 2.1% on the day. Comex gold prices rose by as much as 2.3% earlier in the session to hit a daily high of USD1,427.15 a troy ounce, the strongest level since April 15. Comex gold fell to