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Global Research Limited 5th,November Report Report COMEX COMEX

Comex Report 5th Nov

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Page 1: Comex Report 5th Nov

Global Research Limited

5th,November

Report Report COMEX COMEX

Page 2: Comex Report 5th Nov

Global Research Limited

2 www.capitalvia.com

DATE TIME: IST DATA PRV EXP

05.11.13

Unemployment Claims

5th November,2013

IMPACT

ISM Non-Manufacturing PMI

ISM Non-Manufacturing PMI8:30 P.M

Institute for Supply Management (latest release)Source

Usual Effect

Frequency

Next Release

Level of a diffusion index based on surveyed purchasing managers, excluding the manufacturing

industry;

Dec 4, 2013

Measures

FF Notes

Above 50.0 indicates industry expansion, below indicates contraction. Source changed series from

unadjusted to seasonally adjusted as of January 2001. Source changed series calculation formula as

of Feb 2008;

It's a leading indicator of economic health - businesses react quickly to market conditions, and their

purchasing managers hold perhaps the most current and relevant insight into the company's view of

the economy;

Actual > Forecast = Good for currency;

Released monthly, on the third business day after the month ends;

05.11.13 IBD/TIPP Economic Optimism8:30 P.M

Why trade care

HIGH54.4

38.4

54.4

41.1

Survey of about 400 purchasing managers which asks respondents to rate the relative level of

business conditions including employment, production, new orders, prices, supplier deliveries, and

inventories;

Derived Via

LOW

Page 3: Comex Report 5th Nov

Global Research Limited

3 www.capitalvia.com

5th November,2013

IBD/TIPP Economic optimism

Source

Usual Effect

Frequency

Level of a diffusion index based on surveyed consumers; Measures

FF Notes Above 50.0 indicates optimism, below indicates pessimism;

Actual < Forecast = Good for currency;

Released monthly, around the middle of the current month;

Next Release Dec 11, 2013

TIPP (latest release)

Survey of about 900 consumers which asks respondents to rate the relative level of economic

conditions including six-month economic outlook, personal financial outlook, and confidence in

federal economic policies;

Derived Via

Also Called IBD/TIPP Consumer Confidence;

Page 4: Comex Report 5th Nov

Global Research Limited

3 www.capitalvia.com

5th November,2013

The gold market waffled around unchanged early this morning but seemed to catch a bit of a bid into mid session. With modest

weakness in the Dollar, higher equities and countervailing US scheduled data, the gold market was lucky to have come away

with a slightly positive bias this morning. Factory orders were a touch weaker than expectations, while the ISM New York current

Business Index showed a fairly significant jump. All things considered, the magnitude of the rise in the regional ISM might have

countervailed some of the major headline status of the Factory orders results. This morning Gold did manage to rally in the face

of the ISM improvement and then it fell back somewhat in the wake of the weaker factory orders report! In other words, gold

seemed to need positive US data to rally this morning and that would seem to fly in the face of gold's patterns last week.

December silver fell back into the US scheduled data window and then recovered 9 cents in the face of the stronger

than expected ISM report. Unfortunately December silver also fell back in the wake of the slightly softer than

expected US Factory orders results. Therefore traders could suggest that silver is indeed acting like a physical

commodity market in need of positive progression in the economy again and that in turn would seem to downplay the

threat of tapering and the threat of adverse currency market action.

Gold

Silver

Page 5: Comex Report 5th Nov

Global Research Limited

5th November,2013

4 www.capitalvia.com

The oil complex spent time on both sides of unchanged today as the market continues to digest bearish US oil

fundamentals and technicals against a backdrop of mixed external price drivers. Equities have remained mostly in positive

territory over the last twenty four hours while the US dollar Index finally was hit with a light round of profit taking selling

ending the day in negative territory and thus a slightly positive price driver for the oil complex today.

After an initial rally on Friday, December copper prices appeared for some traders to lose their initial positive tone, and finished last week

roughly 4.00 cents below their weekly highs. Many in the market feel that the most notable development for copper last week was improved

Chinese economic data and slightly better than expected US economic data. However, copper recently saw a halt in a long held pattern of

daily LME exchange copper stock declines.

In addition, there was also an increase in weekly Shanghai copper stocks at the end of last week. The market was also presented with a

series of higher copper production readings from China, Mexico and South America last week. Some traders that while supply has become a

slightly negative issue for the market, and hopes for improved copper demand was able to strengthen copper prices last week in the face of

overt weakness in a number of other commodities.

Crude

Copper

Page 6: Comex Report 5th Nov

INDEX ROLLOVER

Global Research Limited

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Technical levels

Commodity Support1 Support2 Resistance1 Resistance2