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Sunday 22 June 2014

COMMODITY MARKET UPDATE 23 JUNE 2014

BASE METAL WRAP: Copper advanced for a seventh day as a private gauge of Chinese factory output beat economist estimates, boosting demand prospects in the biggest user.

ENERGY WRAP: West Texas Intermediate rose for a third day and Brent gained as militants in Iraq seized more territory and President Barack Obama warned that the crisis may spill over into other countries.

PRECIOUS METAL WRAP: Gold fell for a second day on signs that a rally to a two-month high damped physical and investment demand. Platinum and palladium declined amid expectations that striking miners in South Africa may return to work this week.

GLOBAL EVENTS TO WATCH: HSBC Flash Manufacturing PMI, BOJ Gov Kuroda Speaks, French Flash Manufacturing PMI, German Flash Manufacturing PMI, Flash Manufacturing PMI, Existing Home Sales.

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