Gold futures fell, capping the biggest weekly drop since September, after a U.S. equity rally and signs of easing tensions in Ukraine curbed demand for the precious metal as a haven. Silver dropped to an 11-month low. U.S. durable-goods orders unexpectedly rose in April, indicating manufacturing is gaining

1. 02 JUNE – 06 JUNE 2014
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2. MAJOR EVENTS
Gold futures fell, capping the biggest weekly drop since September, after a U.S. equity
rally and signs of easing tensions in Ukraine curbed demand for the precious metal as
a haven. Silver dropped to an 11-month low. U.S. durable-goods orders unexpectedly
rose in April, indicating manufacturing is gaining, government data showed on May
27. Today, the Standard & Poor’s 500 Index of stocks climbed to a record. Last year,
gold tumbled 28 percent on concern that the Federal Reserve would taper the pace of
monetary stimulus as the economy rebounded. Russia has pulled back most of its
troops from the border with Ukraine, according to a U.S. defense official.
Gold dropped below $1,250 an ounce to a 16-week low and posted the fifth straight
daily decline, the longest slump since April 1. The safe-have premium is waning as
people are gradually shrugging off worries about a slowdown in the U.S. This week,
the metal dropped 3.6 percent, the most since Sept. 13. On May 22, assets in global
exchange-traded funds backed by gold fell to 1,715.8 metric tons, the lowest since
Oct. 2, 2009. This month, gold futures dropped 3.9 percent, the most since December.
The metal has climbed 3.6 percent in 2014.
Crude oil prices may continue to remain weak on dollar strength and daily charts are
indicative of a bearish pattern continuing in the near future. Recent US data was
supportive of dollar -core durable goods ordes rose 0.1% in April, US durable goods
orders rose 0.8% compared to previous month. Conference Board Consumer
Confidence Index rose to 83 in May from 81.7 last month,while the Standard &
Poor’s/ Case-Shiller house price index rose 12.4% in March from a year earlier, above
expectations for a gain of 11.8%. Nymex crude slid Wednesday on expectations that
crude-oil supplies rose last week as imports rebounded from a 17-year low. Natural
gas may trade higher. Natural-gas prices jumped to a five-week high Wednesday after
a second day of gains on forecasts for a warm June and it can move in range of 265-
280 in MCX. The international crude oil price of Indian Basket as computed/published
today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of
Petroleum and Natural Gas went down to US$ 107.51 per barrel (bbl) on 28.05.2014.
This was lower than the price of US$ 107.79 per bbl on previous publishing day. Oil
prices have risen in recent sessions on concerns that the Ukraine-Russia conflict will
disrupt crude shipments from Russia, the world's second largest exporter.
Remain weak
Crude Oil future as
Dollar strength.
Copper Futures
Post Longest
Losing Streak in
Four Weeks.
Copper futures capped the longest slump in four weeks amid concern that demand
will slow in China, the world’s biggest metals consumer.
Chinese home prices fell 0.3 percent in May from April, the first monthly drop since
June 2012, according to SouFun Holdings Ltd., the nation’s biggest real estate website
owner. Prices for copper, used in plumbing and wiring, rose 3.2 percent this month as
exchange-monitored inventories declined. Metals have the look and feel of wanting to
push higher, although slowing growth in China should keep overextended rallies
somewhat in check. Copper futures fell 0.7 percent to settle at $3.1235 a pound at
1:19 p.m. on the Comex in New York. Prices declined for a third straight day, the
longest slide since May 1.
The metal ended the month higher after stockpiles tracked by the London Metal
Exchange plunged 27 percent in May, the biggest drop since 2005.
On the LME, copper for delivery in three months retreated 0.6 percent to $6,845 a
metric ton ($3.11 a pound). The price fell 1.2 percent this week, the most since mid-
March.Aluminum, lead, tin and zinc also dropped in London, while nickel rose.
Gold : Biggest
Weekly Decline
in Eight Months.

3. E C O N O M I C C A L E N D E R
DATE & TIME DESCRIPTION FORECAST PREVIOUS
June 02 6:10pm Treasury Sec Lew Speaks
7:15pm Final Manufacturing PMI 56.2 56.2
7:30pm ISM Manufacturing PMI 55.7 54.9
7:30pm Construction Spending m/m 0.8% 0.2%
7:30pm ISM Manufacturing Prices 56.8 56.5
June 03 7:30pm Factory Orders m/m 0.6% 1.1%
7:30pm IBD/TIPP Economic Optimism 46.5 45.8
All Day Total Vehicle Sales 16.0M 16.0M
June 04 Day 1 G7 Meetings
5:45pm ADP Non-Farm Employment Change 217K 220K
6:00pm Trade Balance -40.8B -40.4B
6:00pm Revised Nonfarm Productivity q/q -2.2% -1.7%
6:00pm Revised Unit Labor Costs q/q 4.8% 4.2%
7:15pm Final Services PMI 58.4 58.4
7:30pm ISM Non-Manufacturing PMI 55.6 55.2
8:00pm Crude Oil Inventories 1.7M
11:30pm Beige Book
June 05 Day 2 ALL G7 Meetings
5:00pm Challenger Job Cuts y/y 5.7%
6:00pm Unemployment Claims 314K 300K
8:00pm Natural Gas Storage 114B
11:00pm FOMC Member Kocherlakota Speaks
June 06 6:00pm Non-Farm Employment Change 219K 288K
6:00pm Unemployment Rate 6.4% 6.3%
6:00pm Average Hourly Earnings m/m 0.2% 0.0%
June 07 12:30am Consumer Credit m/m 16.6B 17.5B

4. S1 S2 S3 R1 R2 R3
25600 24960 24260 26210 26925 27575
S1 S2 S3 R1 R2 R3
39300 38300 37000 40600 41630 42800
T E C H N I C A L V I E W
MCX GOLD showed continous
downfall since last eigth sessions and
traded below the lower band of
channel pattern. Now, if it sustains on
lower levels and this blood bath
continues then next support is seen
around 24960. On higher side if some
correction happens then lower band of
channel pattern will act as resistance
for it i.e. around 26500.
S T R A T E G Y
Better strategy in MCX GOLD is to sell
on highs for the targets of 25000 with
stop loss of 27000.
PIVOT TABLE
G O L D
PIVOT TABLE
S I L V E R
T E C H N I C A L V I E W
MCX SILVER showed downward
movement and gave breakout of
falling wedge pattern on lower side
and closed below it. Now, if the bearish
movement continues on lower side
then 38500 will act as important
support level. On other hand some
correction may lead it towards the
resistance level of 41000 which is also
upper band of falling wedge pattern.
S T R A T E G Y
Better strategy in MCX SILVER at this
point of time is to sell below 39500 for
target of 38500, with stop loss of 41000.

5. C R U D E O I L
C O P P E R
…
S1 S2 S3 R1 R2 R3
6030 5930 5790 6200 6340 6510
S1 S2 S3 R1 R2 R3
408.30 402.35 396 417.60 422.75 429
T E C H N I C A L V I E W
MCX Copper on daily charts showed
sideways movement and traded in
between channel pattren. Now on
higher side if it maintains above 420-
425 then breakout of trendline is
exepected and may lead upto next
resistance level of 433. On other hand
if the downward movement continues
and sustain below 404 then it may find
support in the range of 400-395.
S T R A T E G Y
Better strategy in MCX CRUDEOIL is to sell
below 6000 for the targets of 5900-5800,
with stop loss of 6200.
PIVOT TABLE
T E C H N I C A L V I E W
MCX Crude oil last week showed
sideways movement and rebounded
from its important resistance of upper
band of triangle pattern i.e 6200. Now,
it needs to sustain above 6200 on
closing basis so that break out on
higher expected which may lead it
towards the resistance of 6340
otherwise it may again drop towards
the key support of 5930.
S T R A T E G Y
Better strategy in MCX COPPER is to sell
on highs, with stop loss of 425 for the
target of 402-395.
PIVOT TABLE

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