TODAY'S COMMODITY REPORT 30/may/2013

Precious Metals:

Gold prices were up as weak equity markets and a weaker dollar triggered physical buying and supported prices.

Gold prices are likely to go down as expectations for positive US GDP and employment data can renew fears of Fed’s withdrawal of stimulus and can put pressure on gold.

Gold in India is also likely to move down and a correction in rupee is also likely to push prices down

Energy:

Crude prices were down as the API data showed an unexpected rise in crude and gasoline inventories which pressured prices.

Natural gas is expected to go down as higher inventories expected today can push prices down.

Base Metals:

Copper prices were down after resumption of production at the world's second largest copper mine in Indonesia which eased supply concerns.

Base Metals are expected to go down as rising stocks in warehouses and fears of Fed’s tightening are likely to weigh on prices.