News Column

KASB Securities Limited and Economics Research - Commodities Corner

August 18, 2014



Commodities lower as Ukraine issue subsides

Gold slips on reduced safe-haven demand: Gold slid 0.3% to US$1,301 an ounce as safe-haven demand decreased due to reviving investor confidence as the geo political scenario exhibits signs of improvement.

Oil edges lower as Ukraine tensions ease out: Oil prices edged lower on expectation of slightly reduced geo political risks as progress was made in talks between foreign ministers of Ukraine, Russia, France and Germany in Berlin on the Ukraine crisis.

Meanwhile, Kurdish forces took control of most of Iraq's largest dam.

Time Currency Impact Event

18th August 2014 Monday

7:00pm CAD Medium NAHB Housing Market Index - 53

19th August 2014 Tuesday

8:30pm USD High Building Permits 1.00M 0.97M

8:30pm USD High CPI m/m 0.1% 0.3%

8:30pm USD High Core CPI m/m 0.2% 0.1%

8:30pm USD Medium Housing Starts 0.97M 0.89M

Gold Spot

Technical Strategy: Sell on Strength

Gold closed at US$1,304, below the 5-DMA which is at US$1,307. RSI and Stochastic are bearish and suggest lower prices. KASB Securities Limited recommends selling on strength below US$1,307 targeting US$1,296 (100-DMA) with stops above US$1,314 (Friday's high).

Silver Spot

Technical Strategy: Sell on Strength

Silver closed at US$19.53, below the 5-DMA which is at US$19.70. RSI and Stochastica are bearish and suggest lower prices. KASB Securities Limited recommends selling on strength below US$19.70 targeting US$19.53 (Lower Bollinger) with stops above US$19.93 (100-DMA).

WTI Spot (Crude Oil)

Technical Strategy: Sell on Strength

Oil closed at US$97.05, below the 15-DMA which is at US$97.70. RSI and Stochastic are bearish and suggest lower prices in the foreseeable future. KASB Securities Limited recommends selling on strength below US$97.70 targeting US$96.17 with stops above US$98.75 (20-DMA).


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Source: Pakistan Press International


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