in an fundamental perspective gold is Going to reach another historical spike in the next few months
XAU/USD & XAG/USD - Gold & Silver Traders Thread 56,640 replies
GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies
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Daytrade - XAU/USD & XAG/USD 14 replies
XAU/JPY & XAG/JPY 13 replies
COMMODITIES
MARKETS
DJIA
14512.03
90.5
EUR
1.3038
0.0
DINR1M
184.89
0.89
NSE1M
54.1075
-0.245
NASDAQ
3244.999
22.0
GBP
1.5247
0.0
DINR2M
183.54
0.99
NSE2M
54.5025
-0.2675
FTSE
6392.76
4.2
JPY
94.79
0.3
INR-Spot
54.08
-0.2612
MCX1M
54.1075
-0.2475
NIKKEI
12574.43
235.9
GOLD
1610.9
2.4
NDF1M
54.48
-0.31
MCX2M
54.51
-0.2575
HANG-S
22294.54
179.2
SILVER
28.8513
0.1
NDF2M
54.8
-0.3
WTI
94.22
0.51
NIFTY
5687.65
36.3
3MCU
7683.5
28.5
SENSEX
18851.7
116.1
BRENT
108.3
0.64
INDIAN INR
MARKETS
INR advanced 0.5% to 54.0850. 1-month volatility rose 9 bps to 8.6275%. 3-month forwards traded at 55.21 versus. 55.42. 3-month NDFs were at 55.12 versus 55.39. 10 year benchmark at 7.959%.
FACTORS
GOLD
MARKETS
Gold Spot up 0.3 % at $1,613.76 and was trading at $1,611.43 in Asia . Gold June rose 0.3 % to $1,612.20 after declining 0.3 % in the previous session. Silver spot rose 0.6 % to $28.92 .
FACTORS
.
FOREIGN EXCHANGE
MARKETS
Euro rose broadly on Monday. EUR rose 0.4 % to $1.3043,having traded at roughly $1.2985 before news of the Cyprus Aid . EUR-JPY up 0.8% to 123.75.
FACTORS
COPPER
Copper rose on Monday after Cyprus reached an outline deal with international lenders for a 10 billion euro loan, which boosted appetite for high yielding assets and soothing concerns over the impact of a euro zone default on demand for metals. 3-month copper up 0.50 % to $7,693.25. It had risen 1 % in the previous session.
OIL
Brent crude futures fell on Thursday on concerns of worries about the outlook for petroleum demand in Europe. Brent May crude fell $1.25, or 1.15 %, to settle at $107.47 a barrel, having traded from $107.08 to $108.75.
COMMODITIES
MARKETS
DJIA
14578.54
52.3
EUR
1.279
0.0
DINR1M
182.11
-0.17
NSE1M
54.675
0
NASDAQ
3267.521
11.0
GBP
1.5198
0.0
DINR2M
181.11
-0.14
NSE2M
54.99
0
FTSE
6411.74
24.2
JPY
93.81
-0.4
INR-Spot
54.28
0
MCX1M
54.6725
0
NIKKEI
12236.26
-161.7
GOLD
1599.34
1.8
NDF1M
54.92
0
MCX2M
54.985
0
HANG-S
22299.63
0.0
SILVER
28.211
-0.1
NDF2M
55.22
0
WTI
96.8
-0.43
NIFTY
5708.35
25.8
3MCU
7540
0.0
SENSEX
18913.81
78.04
BRENT
109.66
-0.36
INDIAN INR
MARKETS
There were no trades in India's bond and currency markets today as banks closed their accounts for the financial year ended March 31. INR gained 0.2 % on March 28, taking the 1st quarter's advance to 1.3 %. 10 Year Benchmark at 7.95%. INR, ended last quarter at 54.28 and may trade between 54 and 55 in the coming weeks.
FACTORS
GOLD
MARKETS
Gold spot at $1,598.58 versus $1,598.75.The price dropped 4.6 % in the 1st quarter to complete the 1st two consecutive quarterly declines since 2001. Silver declined 1 % to $28.165 - the weakest since March 27, extending two quarterly drops
FACTORS
FOREIGN EXCHANGE
MARKETS
The euro traded at $1.2801, down about 0.1 % from late Asian trade on Friday and near a 4-month low of $1.2750 hit on Wednesday.
FACTORS
COPPER
Copper fell to its lowest level in more than 8 months on Monday, pressured by a weak euro and new measures to cool down China's property sector. July copper contract fell 1.9 % to $8,700 lowest since July 25
OIL
Crude oil prices rose on Wednesday in choppy trading as U.S. heating oil rallied on falling distillate inventories, while rising crude oil stockpiles in the United States and the stronger USD limited gains. Brent May crude rose 33 cents to settle at $109.69, after reaching $109.98, testing resistance near its 200-day moving average of $109.90. The session low was $108.85. U.S. May crude rose 24 cents to settle at $96.58, having traded from $95.58 to $96.84, which was the highest intra day price in five weeks.
COMMODITIES
MARKETS
DJIA
14572.85
-5.7
EUR
1.2864
0.0
DINR1M
182.95
0.26
NSE1M
54.67
-0.005
NASDAQ
3239.173
-28.3
GBP
1.5238
0.0
DINR2M
181.89
0.19
NSE2M
54.985
-0.005
FTSE
6411.74
24.0
JPY
92.81
-0.4
INR-Spot
54.3288
0.0488
MCX1M
54.67
-0.0025
NIKKEI
12051.2
-83.8
GOLD
1602.28
2.8
NDF1M
54.74
0.05
MCX2M
54.9875
0.0025
HANG-S
22317.97
18.3
SILVER
28.055
0.0
NDF2M
55.04
0
WTI
96.69
-0.38
NIFTY
5695.6
-8.8
3MCU
7455.25
-84.8
SENSEX
18854.14
-10.61
BRENT
110.77
-0.31
INDIAN INR
MARKETS
INR declines 0.1% to 54.3325; 1-month volatility slides 6 BP to 8.0375%. 3 Month INR forwards traded at 55.39 Vs. 55.33. 3M NDF at 55.35 vs. 55.53 . 10 Year Benchmark at 7.985 , 1-year IRS at 7.4750%; 5-year IRS at 7.2300%
FACTORS
GOLD
MARKETS
Gold Spot up 0.3 % to $1,603.88. Silver gained 0.6 % to $28.1925 Vs. $28.0375. It was the lowest settlement since Aug. 15,and 19.9 % below the closing high on Oct. 4.
FACTORS
FOREIGN EXCHANGE
MARKETS
JPY at 1-month high. USD fell 0.3 % to 93.04 yen, having fallen as far as 92.96, the USD's lowest level against the JPY since early March.
FACTORS
OIL
Brent crude rose above $111 a barrel in choppy trading on Monday as a weaker USD provided support, while U.S. crude prices fell as a pipeline leak in Arkansas threatened to increase the glut of oil in the U.S. Midwest. Brent May crude rose $1.20 to $111.22 having risen above the 200-day moving average of $110.05. U.S. May crude was down 28 cents at $96.95 after hitting a six-week high of $97.80 during the session.
COMMODITIES
MARKETS
DJIA
14662.01
90.0
EUR
1.2805
0.0
DINR1M
182.86
0.19
NSE1M
54.685
0.0775
NASDAQ
3254.862
15.7
GBP
1.5087
0.0
DINR2M
181.76
0.16
NSE2M
55.015
0.0775
FTSE
6490.66
79.0
JPY
93.53
0.1
INR-Spot
54.3712
0.1024
MCX1M
54.6825
0.075
NIKKEI
12314
310.6
GOLD
1567.69
-8.2
NDF1M
54.77
-0.09
MCX2M
55.015
0.0775
HANG-S
22330.89
-36.9
SILVER
27.0825
-0.2
NDF2M
55.07
-0.1
WTI
96.69
-0.5
NIFTY
5724.45
-23.7
3MCU
7480
15.0
SENSEX
18984.86
-56.09
BRENT
110.34
-0.35
INDIAN INR
MARKETS
INR declines for first time in 3 trading days, falling 0.3% to 54.4050. 1-month volatility at 7.9925%. 3-month forwards at 55.44 versus 55.35. 3-Month NDF at 55.37 versus 55.28. 10 year benchmark at 7.993%.1-year IRS at 7.4600%, 5-year IRS at 7.2350%.
FACTORS
GOLD
MARKETS
Gold spot fell 0.8 % to $1,563.68 (Lowest since March 8 ). Gold June fell 0.5 % to $1,568. Cash silver, fell
0.9 % to $27.025,( lowest since Aug. 2, 2012).
FACTORS
FOREIGN EXCHANGE
MARKETS
The yen retreated from a 1-month high , while the euro was lower too. JPY at 93.37 (1-month low of 92.57 on Tuesday) . It was still some way off a 3-1/2 year high of 96.71 set last month.
FACTORS
OIL
Oil prices slipped on Tuesday as concerns about supply and the pace of growth in the United States and the Euro Zone economy tempered optimism about stronger demand in Asia.
The Brent/U.S. crude spread narrowed to around $13.60 after widening to $14.66 earlier in the session.
DGCX INR
OPEN
HIGH
LOW
PD CLOSE
Thursday, April 04, 2013
182.41
181.9
182.55
182.3
54.8216
54.9753
54.7795
54.8546
DJIA
14550.35
-112.0
EUR
1.2836
0.0
DINR1M
182.09
-0.21
NSE1M
54.91
0.16
NASDAQ
3218.604
-36.3
GBP
1.5106
0.0
DINR2M
181.00
-0.25
NSE2M
55.245
0.1575
FTSE
6420.28
-70.4
JPY
94.42
1.4
INR-Spot
54.6275
0.1875
MCX1M
54.9075
0.1575
NIKKEI
12451.87
89.7
GOLD
1549.62
-8.3
NDF1M
55.02
0.1
MCX2M
55.2425
0.1625
HANG-S
22337.49
0.0
SILVER
26.9
-0.1
NDF2M
55.37
0.11
WTI
94.41
-0.04
NIFTY
5618.9
-54.0
3MCU
7342.5
-45.5
SENSEX
18681.01
-120.63
BRENT
107.38
0.27
GOLD
MARKETS
Gold Spot lost 1 % to $1,541.82 (lowest l since May 30), Gold June down 0.8 % to $1,541.20 . Spot silver fell 1 % to $26.73 (lowest since July 24) .
FACTORS
FOREIGN EXCHANGE
MARKETS
The yen held near one-month highs against the USD , JPY at 93.05 down from a session high of 93.69 on Wednesday. It has lost nearly 4 % from a 3-1/2 year peak of 96.71 . Initial support is seen around 92.55, the 23.6 % retracement of its Nov-March rally.
FACTORS
COPPER
Copper slipped to its lowest in eight months on Thursday after weak jobs data suggested that the U.S.labor market recovery may not be sustained, hurting demand expectations for metals in a thin market with China out for a two-day break. 3-month copper fell to its lowest since August 3 at $7,356.25 before paring loses to $7, still down 0.24 % .
OIL
Oil prices fell more than 2 % on Wednesday as U.S. crude oil inventories grew to their highest level since 1990 and weak economic data stoked worries about U.S. energy demand. Brent crude was down $2.72 at $107.97 having fallen as low as $107.78. U.S. crude was down $2.19 at $95 a barrel, having fallen to $94.89, just above the 50-day moving average at $94.64.
GOLD
MARKETS
Gold spot at $1,575.16 up from $1,573.64 yesterday. Low of 0.2 % down to $1,570.67. Gold for June flat at $1,573.50. Spot silver flat at $27.345.
FACTORS
FOREIGN EXCHANGE
MARKETS
The JPY at multi-year lows versus the USD and EUR on Tuesday . USD up 99.60 with a 4 year high of 99.65 ( near 100) , EUR-JPY at 129.69 (Highest since January 2010.) .
FACTORS
COPPER
Copper climbed on Tuesday after signs of growth revival in Germany pushed up the EUR and buttressed the demand outlook for metals, while buying from top consumer China extended a steady albeit modest seasonal recovery. 3-month copper up 1.04 % to $7,527.50, extending gains of 0.6 % from the previous session.
OIL
Oil prices edged higher on Monday, lifted by gains in gasoline futures and strong selling of the spread between Brent crude and U.S. crude. Brent's premium to U.S. WTI futures settled at $11.30 , after narrowing to over $11 in afternoon trade, the lowest level since June.
GOLD
MARKETS
Gold spot at $1,587.48 vs. $1,585.35 yesterday. It rose as high as $1,590.46, (Highest since April 2). The session saw a high of $1,588.64 . Gold June flat at $1,586.20. Cash silver dropped 0.2 % to $27.94, paring yesterday's 2.5 % rally that was the biggest since November.
FACTORS
FOREIGN EXCHANGE
MARKETS
JPY at 4-year low with strategists expecting JPY to break below the 100-yen level. JPY was steady at 99.05 after seeing a low of 99.67 , its weakest level since May 2009.
FACTORS
COPPER
Copper fell on Wednesday from near 2-week highs hit in the previous session, while markets eyed China trade data for signs of a recovery in demand in the top metals consumer. 3- Month copper slipped 0.34 % to $7,598.75 after gaining 2.4 % in the previous session.
OIL
Brent crude oil futures rose on Tuesday, posting their biggest gain since late December as a weak USD and tame Chinese inflation data drew investors to commodities. U.S. crude oil prices also rose, reaching $94.48 during the session and briefly exceeding the 50-day moving average of $94.44.
GOLD
MARKETS
Gold up 0.1 % to $1,560.75 after dropping 0.3 % to $1,553.65, (April 5 Low). Gold June at $1,560.30 after losing 1.8 % yesterday. Silver dropped 0.2 % to $27.58, following yesterday's 1.3 % decline.
FACTORS
FOREIGN EXCHANGE
MARKETS
JPY near 100, JPY at 99.79, having fallen to a low of 99.88. It has lost more than 7 % since the BOJ's radical stimulus program, which is bigger than the US QE.
FACTORS
COPPER
Copper was steady on Thursday, supported by growing optimism over China's economic revival after lending surged in March, but consumers were reluctant to chase prices that hit two-week highs earlier in the week given global oversupply. 3- Month copper flat at $7, after closing down 0.66 % the session before.
OIL
Brent crude oil prices fell on Wednesday dragged down by a steep sell-off in U.S. gasoline futures after a U.S.government report showed an unexpected build in domestic gasoline inventories. Brent May crude settled down 44 cents at $105.79 , having retreated from a session high of $106.47. Brent's May contract expires on Monday. U.S. May crude settled up 44 cents at $94.64 having swung from $93.40 to $94.82.
GOLD
MARKETS
Gold spot down 3.9 % to $1,425.75 and was trading at $1,444.07 in Asian hours . Prices fell 5 % on April 12, taking losses to more than 20 % since the lifetime high in September 2011. Gold June down 5.3 % to $1,422.20. The contract had fallen 4.1 % on April 12. Silver fell 6.8 % to $24.24 (November 2010 Low)
FACTORS
FOREIGN EXCHANGE
MARKETS
The USD bought 98.36 yen, above Friday's session low of 98.08 yen, though still well shy of a four-year peak of 99.95 yen struck on trading platform EBS on Thursday.
FACTORS
COPPER
Copper edged up on Monday on technical buying, but was within reach of 8-month lows after poor data spurred fears the U.S. recovery may be slowing and dragging on the global economy, with attention turning to a raft of Chinese data later in the day. 3-month copper had risen to $7,435.50- paring losses from the previous session.
OIL
Brent crude oil fell to a 9-month low near $101 on Friday as a broad investor sell-off in commodities triggered a fall as much as $3 , but pared losses in afternoon New York trade .
Brent May fell more than $3 to hit a $101.09, the lowest prices since July. It recovered by more than $2 by the close, settling at $103.11 down $1.16 on the day. Brent has fallen by around 13 % since February as uncertainty about the strength of global demand has mounted.
U.S. crude for May delivery lost $2.22 to settle at $91.29 , up from an earlier low of $90.27. The May contract closed below its 200-day moving average of $91.51, a key technical indicator watched by traders.
GOLD
MARKETS
Gold spot up 1.4 % to $1,423.10. Gold June up 1.8 % to $1,420, gaining for a 3rd day . Silver up 1.1 % to $23.504 rising for the first time in four days
FACTORS
FOREIGN EXCHANGE
MARKETS
USD climbed 0.3 % to 99.83 yen, having risen as high as 99.90 in early Asian trade on Monday.
FACTORS
COPPER
Copper retreated towards 18-month lows below $7,000 on Monday, as sluggish global growth tempers industrial demand and erodes investor appetite for metals. 3-month copper fell by 0.93 % to $6,935 extending losses from the previous session.
OIL
Brent crude near $100 on Monday, finding some support from bargain hunters after 3 straight weeks of lower prices . June Brent rose 28 cents to $99.93 up from the lowest level since July 2012 on Wednesday. U.S. crude for June delivery was up 29 cents to $88.30 a barrel after a 3.6 % loss last week.
GOLD
MARKETS
Gold rose 0.3 % to $1,430.52 . Gold rose for 5 days with a high of 1,439.30. Prices are 8.4 % below the $1,561.45 close on April 11, before a 2-day, 14 % drop through April 15. Gold June rose 0.5 % to
$1,428.30, gaining for a 4th day. Cash silver dropped 0.5 % to $23.324.
FACTORS
FOREIGN EXCHANGE
MARKETS
USD did not reach 100 yen due to option positions . USD at 99.35 yen, down from Monday's high near 99.90.Traders said there is demand to buy dollar/yen on dips and a clear break above 100 will pave the way for a retest of the April 2009 high around 101.45.
FACTORS
COPPER
Copper slipped on Tuesday and was near a 18-month low on sluggish prospects for global growth, with traders waiting for China's first economic report for the second quarter for clues on demand . 3-month had slipped 0.36 % to $6,910 extending losses from the previous session when it closed down 0.8 %
OIL
Brent crude rose for a 3rd session to top $100 on Monday, lifted by gains in the U.S. stock market. Brent June rose 74 cents to close at $100.39 , down from a high of $101.04. WTI May was up 75 cents to $88.76 after reaching a high of $89.13.
DislikedINDIAN INR MARKETS INR falls for 2nd day by 0.4% to 54.35 . 1-month volatility at 8.65% . 3-month forwards at 55.33 USD, vs. 55.15. 3-Month NDF at 55.12 vs. 54.93. 10 Year Benchmark at 7.750%. 1-year IRS at 7.25% . 5 year IRS at 7.00%. FACTORS Technical: Breaking pivot support at 54.2858 with next 2 supports at 54.4254, 54.7454; pivot point at 54.1054; resistance at 53.9658, 53.7854, 53.4654. Pulling away from 50 DMA at 54.2379. Global funds increased holdings of debt by $630 m, to $35.25 b . China PMI fell to 50.5 in April from 51.6 in March,...Ignored
GOLD
MARKETS
Gold fell on Tuesday for the 8th of 9 sessions. Gold had fallen 0.3 % to $1,388.36 in Asian hours . Gold gained 2.6 % on Monday after a seven-session slide to cross the 1400$ mark .Gold futures gained 0.2 % to $1,386.90. Silver was down 1.4 % at $22.61. It hit a session low of $22.41, not far off the 2-1/2 year low of $20.84 on Monday, when it eventually closed 3 % higher.
FACTORS
FOREIGN EXCHANGE
MARKETS
USD rose 0.2 % to 102.69 JPY after economics minister Akira Amari said he hoped the JPY settles at a level justified by fundamentals and where the impact on imports and exports is balanced. GBP rose 0.1 % to $1.5289, paring gains after earlier climbing to as high as $1.5368
FACTORS
JPY Falls Versus Peers After Amari Remarks
U.S. Faces Downgrade in 2013 Without Budget Deal, Moody's Warns
Pound Gains From Six-Week Low Versus USD; Gilts Decline
COPPER
MARKETS
3-month copper slipped 0.41 % to $7,369, reversing gains of more than 1 % from the previous session.
FACTORS
OIL
MARKETS
WTI June at $96.89 up 18 cents, . The contract expires today. The volume of all contracts traded was 18 % below the 100-day average. The more active July future rose 20 cents to $97.13. Front-month prices increased 69 cents yesterday, or 0.7 %, to $96.71, the highest close since April 2. Brent July up 23 cents to $105.03. Brent was at a premium of $7.90 to WTI futures.
FACTORS
INDIAN INR
MARKETS
[justify]INR weakened 0.6 % to 55.8100 and reached 55.8787, the lowest level since Nov. 26. 1-month volatility, rose 16 BP to 8.63 %. 3-month forwards at 56.80 Vs. 56.53 yesterday. NDF 3-Month were at 56.76 vs. 56.46. 10 year benchmark at 7.41 % .[/justify]FACTORS
GOLD
MARKETS
[justify]Gold spot at $1,387.99 after rising 0.8 %. The price reached a more than 2-year low of $1,321.95 on April 16.[/justify]FACTORS
FOREIGN EXCHANGE
MARKETS
[justify]USD at a 3-year high against a basket of majors on Thursday. USD index at 84.381 after gaining more than 0.5 % on Wednesday to reach a peak of 84.422, ( July 2010 high) . Against the yen, it rose 0.1 %to 103.23, near a 4-1/2 year high of 103.74.[/justify]FACTORS
COPPER
MARKETS
Copper declined the most in a week , it fell 1.8 % to $7,340. Relative strength index 51.
FACTORS
OIL
MARKETS
[justify]WTI Futures fell 0.8 % losing 2 % yesterday, ( May 1 low) . WTI July fell 76 cents to $93.52 . The volume of all contracts traded was 7 % below the 100-day average. Brent July fell 75 cents, to $101.85. Brent was at a premium of $8.31 to WTI.[/justify]FACTORS
China's PMI dropped to 49.6 for May, the lowest since October
GOLD
MARKETS
[justify]Spot gold had dropped 0.03 percent, or 36 cents, to $1,385.19 a not far from two-year lows of $1,321.35 seen in mid-April. Gold is headed for its fifth straight monthly drop. [/justify]
FACTORS
FOREIGN EXCHANGE
MARKETS
[justify]The USD dipped against the JPY in early Asian trade. USD at 101.13 falling 0.1% from Friday (low of of 100.68) down 1.9 % in the week. [/justify]
FACTORS
COPPER
MARKETS
[justify]Copper 3M fell 0.01 % to $7,299 . Copper July was flat at $3.2945 a pound. Copper September fell as 1.3 % to $8,523 a MT.[/justify]
FACTORS
OIL
MARKETS
[justify] WTI July fell 92 cents and was at $93.23. The volume of all contracts traded was 23 % below the 100-day average. Brent July fell 54 cents to $102.10 . Brent was at a premium of $8.81 to WTI .[/justify]
FACTORS
Net -long positions, at 231,794 futures and options (March 2012 High)
GOLD
MARKETS
[justify]Spot gold fell 0.5 % to $1,387.18 trading at $1,389.97 in Asia. Gold down 17 % in 2013 . Gold August at $1,389.30 vs. $1,387.50 on May 24. Silver declined 0.9 % to $22.4805, heading for a 4th monthly decline.[/justify]
FACTORS
FOREIGN EXCHANGE
MARKETS
[justify]USD rose 0.9 % to 101.86 /JPY and rose 0.2 % to $1.2904 /EUR. JPY fell 0.7 % to 131.42 /EUR . USD Index rose 0.2 % to 83.889. Markets in the U.S. and U.K. were closed yesterday for public holidays.[/justify]
FACTOR
COPPER
MARKETS
[justify]Copper 3- months fell 1.1 % to $7,220 and was trading at $7,237 in Asia . Copper July fell 0.7 % to $3.2730 a pound. Copper September declined 1 % to $8,491 per ton.[/justify]
FACTORS
OIL
MARKETS
[justify]WTI July fell 92 cents to $93.23 ,was trading at $93.55 in Asia . Brent July rose 2 cents to $102.64. Brent at a premium of $9.09 to WTI. The spread was $8.85 yesterday.[/justify]
[justify]FACTORS[/justify]
Longs vs. Shorts were more by 146,679 lots.
GOLD
MARKETS
[justify]Gold climbed 0.7 % to $1,390.30 and was at $1,387 in Asian hours, down 6.1 % in May. Gold fell 1.5 % yesterday, touching $1,373.63. Gold August was up 0.5 % to $1,386. It is down 5.8 % in May for a second monthly decline. Silver was little changed at $22.36, 26 % lower this year.[/justify]
FACTORS
FOREIGN EXCHANGE
MARKETS
USD Index, rose 0.3 % to 84.349. USD flat at $1.2845 /EUR after rising 0.6 % yesterday. The yen traded at 131.57 per euro from 131.59 and was little changed at 102.42 per USD. The Aussie fell 0.8 % to 95.40 U.S. cents, after dropping to 95.36, the weakest since Oct. 5, 2011.
FACTORS
COPPER
MARKETS
[justify]Copper fell, paring its first monthly gain in four months as Freeport-McMoRan Copper & Gold Inc. said it can start open-pit production at Indonesia's Grasberg mine after an accident halted operations. Copper 3 Months fell 0.2 % to $7,306. Relative strength index 50.[/justify]
FACTORS
OIL
MARKETS
[justify]WTI July at $94.77 down 24 cents,. The volume of all futures traded was 39 % below the 100-day average.. Prices are up 1.4 % this month after a 3.9 % loss in April. Brent July down 16 cents at $104.07. Brent at a premium of $9.30 to WTI[/justify]
FACTORS
OPEC will maintain its production quota at 30 million barrels a day.