Metals Pack Fundamental Analysis April 14, 2014 Forecast – Silver & Copper

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Updated: Aug 23, 2015, 16:00 UTC

Analysis and Recommendations: Silver gave up 58 points to trade at 20.033 against the stronger US dollar while Copper gained 9 points to reach 3.055 on

Metals Pack Fundamental Analysis April 14, 2014 Forecast – Silver & Copper

Analysis and Recommendations:

Silver gave up 58 points to trade at 20.033 against the stronger US dollar while Copper gained 9 points to reach 3.055 on hopes of Chinese action to support the economy. India’s gold and silver imports declined 40 per cent to USD 33.46 billion in 2013-14 mainly due to restrictions imposed by the government on inbound shipments of the precious metal to narrow the current account deficit. Imports of gold and silver in 2012-13 stood at USD 55.79 billion. In March, the imports of the precious metals were down by 17.27 per cent to USD 2.75 billion from USD 3.33 billion in the same month previous year.

Political tension put a damper on investor risk appetite after Russian President Vladimir Putin warned gas supplies to Europe could be disrupted if Moscow cuts the flow to Ukraine over unpaid bills.

China’s copper stocks continued to slip for the fourth consecutive week in Shanghai Futures Exchange warehouses. Copper inventories stood at 142,671 mt Friday, down 17% week on week, the latest weekly data from the Chinese bourse showed. The fall was mainly due to lower stock volumes at the warehouses in Shanghai and Jiangsu. There are four locations for these warehouses. The other two locations are Guangdong and Zhejiang. Stocks in Shanghai warehouses fell to 113,421 mt Friday, down 19% from last Friday and Jiangsu lost 64.4% week on week to 2,570 mt. Guangdong saw a 4.7% gain to 26,179 mt, while Zhejiang remained steady at 501 mt. The news gave copper a small bump on an otherwise quiet trading day.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more recent analysis and information in our weekly reports.

Economic Data April 11, 2014 actual v. forecast

Cur.	Event	Actual	Forecast	Previous
JPY	Monetary Policy Minutes
CNY	Chinese CPI (MoM)	-0.5%	-0.5%	0.5%
CNY	Chinese CPI (YoY)	2.4%	2.5%	2.0%
CNY	Chinese PPI (YoY)	-2.3%	-2.2%	-2.0%
USD	Core PPI (MoM)		0.2%	-0.2%
USD	PPI (MoM)		0.1%	-0.1%
USD	Michigan Consumer Expectations		71.4	70.0
USD	Michigan Consumer Sentiment		81.0	80.0

Upcoming Economic Events that affect the EUR, GBP, CAD and USD

Date	Currency	Event	Forecast	Previous
Apr. 14	EUR	Industrial Production (MoM)	0.2%	-0.2%
	USD	Core Retail Sales (MoM)	0.4%	0.3%
	USD	Retail Sales (MoM)	0.8%	0.3%
	USD	Business Inventories (MoM)	0.5%	0.4%