U.S. Mint Gold, Silver Bullion Sales Down More Than 50% So Far This Year.
A more than 3% rally in gold that helped push prices to a five-month high last month created a significant drag on U.S. Mint coin sales. The latest data provide by the Mint shows that a total of 6,000 ounces of gold, in various denomination of American eagle gold bullion coins, were sold last month. This is the worst April performance in five years and the lowest sales pace in 16 month.
In total April sales were down 71% from March sales, which marked a 15-month low in demand. For the year total gold bullion demand was 172,000 ounces, down almost 51% compared 351,000 ounces sold during the first four months of 2016. Physical silver demand was also muted last month with the U.S. Mint selling 835,000 ounces, down more than 48% from the previous month. The drop in demand also coincides with future prices rallying to a 5-month high in mid-April.
China Lead-Acid Battery Imports up 3.47% YoY, While Exports down 11.71% YoY in March 2017, SMM Reports.
China imported 928,800 of lead-acid batteries in March 2017, up 29.87% MoM and 3.47% YoY, according to China Customs, including 233,400 of ignition lead-acid batteries, up 8.18% MoM and 695,300 of other lead-acid batteries, up 39.24% MoM. Imports of lead-acid battery totaled 2.35 million in January-March, 2017, up 20.13% YoY. Lead-acid battery demand increased gradually in March with effect from 2017 Chinese New Year subsiding, growing imports. Imports of other lead-acid batteries rose to normal level, while growth of ignition battery was restricted by poor demand at auto market and high inventory.
China’s exports of lead acid battery were 14.01 million in the month, up 85.13% MoM and down 11.71% YoY. Exports of ignition lead-acid battery were 1.99 million, up 65.62% MoM and 36.47% YoY, and those of other batteries were 12.02 million, up 88.82% MoM but down 16.59% YoY. China exported a total of 40.49 million of lead-acid battery in January-March, down 18.2% YoY.
China imported 928,800 of lead-acid batteries in March 2017, up 29.87% MoM and 3.47% YoY, according to China Customs, including 233,400 of ignition lead-acid batteries, up 8.18% MoM and 695,300 of other lead-acid batteries, up 39.24% MoM. Imports of lead-acid battery totaled 2.35 million in January-March, 2017, up 20.13% YoY. Lead-acid battery demand increased gradually in March with effect from 2017 Chinese New Year subsiding, growing imports. Imports of other lead-acid batteries rose to normal level, while growth of ignition battery was restricted by poor demand at auto market and high inventory.
China’s exports of lead acid battery were 14.01 million in the month, up 85.13% MoM and down 11.71% YoY. Exports of ignition lead-acid battery were 1.99 million, up 65.62% MoM and 36.47% YoY, and those of other batteries were 12.02 million, up 88.82% MoM but down 16.59% YoY. China exported a total of 40.49 million of lead-acid battery in January-March, down 18.2% YoY.
Oil edges down as Libya output hits highest since 2014.
Oil prices edged down on Tuesday, as a recovery in Libyan output and rising U.S. supplies raised worries that OPEC-led production cuts may not significantly tighten a bloated market. Oil has been weighed down by the market's impatience with the slow pace of inventory drawdown globally, even after major oil producers agreed to cut production by 1.8 million barrels per day for the first half of 2017.
Libya's National Oil Company said production has risen above 760,000 bpd to its highest since December 2014, with plans to keep boosting production. Organization of the Petroleum Exporting Countries and participating non-OPEC countries meet on May 25 to discuss whether to extend that reduction. U.S. Interior Secretary Ryan Zink on Monday signed an order directing the government to issue a new five-year plan for development on the U.S.
Oil prices edged down on Tuesday, as a recovery in Libyan output and rising U.S. supplies raised worries that OPEC-led production cuts may not significantly tighten a bloated market. Oil has been weighed down by the market's impatience with the slow pace of inventory drawdown globally, even after major oil producers agreed to cut production by 1.8 million barrels per day for the first half of 2017.
Libya's National Oil Company said production has risen above 760,000 bpd to its highest since December 2014, with plans to keep boosting production. Organization of the Petroleum Exporting Countries and participating non-OPEC countries meet on May 25 to discuss whether to extend that reduction. U.S. Interior Secretary Ryan Zink on Monday signed an order directing the government to issue a new five-year plan for development on the U.S.
Precious Levels
CS GOLD (JUNE) OVERVIEW:
TREND : BEARISH
RESIST 2: 28900
RESIST 1: 28800
SUP 1: 28450
SUP 2: 28300
CS SILVER (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 40500
RESIST 1: 39800
SUP1: 39000
SUP2: 38500
Base Metal Levels
CS COPPER (JUNE) OVERVIEW:
TREND : BULLISH
RESIST 2:380
RESIST 1:377
SUP1:370
SUP2:365
CS NICKEL (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2:635
RESIST 1:625
SUP1:605
SUP2:595
CS ZINC (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2:174.50
RESIST 1:173.00
SUP1:168.00
SUP2:167.00
CS LEAD (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2: 148.00
RESIST 1: 147.00
SUP1: 144.00
SUP2: 142.50
CS ALUMINIUM (MAY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 125.50
RESIST 1: 124.50
SUP1: 121.50
SUP2: 120.50
Energy Levels
CS CRUDE OIL (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2:3200
RESIST 1:3170
SUP1:3070
SUP2:3030
CS NATURAL GAS (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2:215.00
RESIST 1:211.00
SUP1:203.00
SUP2:200.00
CAPITALSTARS
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CS GOLD (JUNE) OVERVIEW:
TREND : BEARISH
RESIST 2: 28900
RESIST 1: 28800
SUP 1: 28450
SUP 2: 28300
CS SILVER (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 40500
RESIST 1: 39800
SUP1: 39000
SUP2: 38500
Base Metal Levels
CS COPPER (JUNE) OVERVIEW:
TREND : BULLISH
RESIST 2:380
RESIST 1:377
SUP1:370
SUP2:365
CS NICKEL (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2:635
RESIST 1:625
SUP1:605
SUP2:595
CS ZINC (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2:174.50
RESIST 1:173.00
SUP1:168.00
SUP2:167.00
CS LEAD (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2: 148.00
RESIST 1: 147.00
SUP1: 144.00
SUP2: 142.50
CS ALUMINIUM (MAY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 125.50
RESIST 1: 124.50
SUP1: 121.50
SUP2: 120.50
Energy Levels
CS CRUDE OIL (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2:3200
RESIST 1:3170
SUP1:3070
SUP2:3030
CS NATURAL GAS (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2:215.00
RESIST 1:211.00
SUP1:203.00
SUP2:200.00
CAPITALSTARS
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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
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