Bullion Commodity Report for the Week

8/9/2019 Bullion Commodity Report for the Week

1/9

WEEKLY

COMMODITY REPORT

Falling Euro Drags Bullion Prices !!

www.capitalvia.com

29th March 2010 to 03rd Apr 2010


2/9

R E S E A R C H

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Date Time Currency Economic Data Forecast Previous

Weekly Commodity Report29th March to 03rd Apr 2010

ECONOMIC DATA

6:00pm Personal Spending m/mUSD

MonMar 29

6:00pm Core PCE Price Index m/mUSD

0.4%

0.1%

0.5%

0.0%

6:00pm Personal Income m/mUSD 0.1% 0.1%

7:30pm Treasury Sec Geithner SpeaksUSD

7:30pm CB Consumer ConfidenceUSD

Tue

Mar 306:30pm S&P/CS Composite-20 HPI y/yUSD -0.5%

50.2

-3.1%

46.0

7:15pm Chicago PMIUSD

WedMar 31

5:45pm ADP Non-Farm Employment ChangeUSD

61.5

0.5%

38K

62.6

1.7%

7.3M

-20K

7:30pm Factory Orders m/mUSD

8:00pm Crude Oil InventoriesUSD

5:00pm Challenger Job Cuts y/yUSDThuApr 1

-77.4%

6:00pm Unemployment ClaimsUSD 440K

57.0

-1.1%

67.3

442K

56.5

-0.6%

67.0

7:30pm ISM Manufacturing PMIUSD

7:30pm Construction Spending m/mUSD

7:30pm ISM Manufacturing PricesUSD

10:00pm FOMC Member Duke SpeaksUSD

1:30am FOMC Member Bullard SpeaksUSDFriApr 2

2:30am FOMC Member Dudley SpeaksUSD

67.3

11.5B

179K

9.7%

0.2%

67.0

10.4M

-36K

9.7%

0.1%

7:30pm ISM Manufacturing PricesUSD

11B8:00pm Natural Gas StorageUSD

All Day Total Vehicle SalesUSD

6:00pm Non-Farm Employment ChangeUSD

6:00pm Unemployment RateUSD

6:00pm Average Hourly Earnings m/mUSD


3/9

Fundamental Market Overview

U.S. gold futures ended above $1,100 an ounce on Friday, gaining 1 percent on

the back of a euro rally based on a Greece rescue plan, and the metal was

expected to take trading cues from the currency market. COMEX April settles up

$11.40, or 1 percent, at $1,104.30 an ounce. Range from $1,088.50 to

$1,106.80.Gold supported by a stronger euro as the euro zone leaders won

approval for an aid deal for Greece. Gold market mostly taking direction from the

dollar, and further dollar gains could drive gold below $1,080.

U.S. crude oil futures seesawed amid mixed economic data on Friday as markets

reacted to efforts to assist Greece that strengthened the euro. Trading sources

noted that crude futures continued to have trouble sustaining rallies above $81 a

barrel. "The euro is stronger and stocks up, but you had the GDP revised lower

and there's still concern about the euro and the euro zone economy and there

may be a test of the May contract's $78.72 50-day moving average." Crude was

up earlier as the euro rose broadly and lifted off a 10-month low against the dollar

after euro zone leaders agreed on a safety net for Greece. Euro zone leaders

agreed to a package of both bilateral loans from euro zone partners and

International Monetary Fund funding if Greece faced severe difficulties. The euro

extended gains after Greece's central bank chief said he does not see the country

using a European Union aid mechanism.

U.S. copper futures settled up at a two-month high on Friday as investor appetite

for risk improved and the dollar surrendered recent gains against the euro after

euro zone leaders agreed on a plan to help debt-strapped Greece. Copper for Maydelivery rose 2.25 cents to finish at $3.4030 per lb on the New York Mercantile

Exchange's COMEX division. Loftiest level on a settlement basis since January 26.

Range from $3.3375 to $3.4340.COMEX estimated final copper futures volume

at 29,563 lots, compared with prior count at 30,455 lots. Open interest up 457

lots to 135,277 contracts open as of March 25. Copper predominantly up in

sympathy with gains in euro after bailout plan for Greece. Euro up against dollar

on news Euro-zone policy-makers agreed on aid package for Greece. A softer

dollar makes dollar-priced commodities more attractive to buy for non-U.S.

investors.

R E S E A R C H



US GOLD ENDS 1

PCT UP ON EURO

RALLY, GREECE

DEAL

CRUDE DIPS BUT

C H O P P Y A M I D

G R E E C E , E U R O

NEWS

US COPPER ENDS

U P A T 2 - W E E K

P E A K , E Y E O N

CURRENCIES


4/9

Technical Analysis

GOLD

Weekly Pivots

GOLD (Weekly Chart)

Market Overview

SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4

GOLD 1174.6 1149.6 1124.6 1114.4 1099.6 1089.4 1074.6 1049.6 1024.6

Comex gold still is technically weak and sustaining below theprevious week's high. Last week Comex gold was in rangebetween 1083$ to 1110 $ an ounce. If Comex gold sustains below1080 $ then it can show a slightly downward rally and on theupside 1150 is as a major hurdle to change the trend in the Comexgold.

StrategyFor the next week traders can use the sell on higher level

strategy.Major support for Comex gold in the coming week would be

1079$ and 1050$Major resistance for Comex gold in the coming week would be

1150$ and 1175$Major support in MCX gold is 16100 and 15720Major resistance in MCX gold is 17130 and 17650

R E S E A R C H




5/9

SILVER

Weekly Pivots

SILVER (Weekly Chart)

Market Overview

Strategy


SILVER 1866.8 1806.8 1746.8 1718.7 1686.8 1658.7 1626.8 1566.8 1506.8

Comex Silver is slightly weak on charts, and is not sustaining athigher levels. $ 1780 and $ 1810 will be a major resistance in

Comex Silver and $1600 and $1550 will be a good support in thecoming week. And below $ 1550 it can make a slightly downwardrally.

For the Next Week traders can use sell on higher level strategy ifit does not break the level of $1780, by keeping the proper stop

loss.

R E S E A R C H




6/9

CRUDE OIl

Weekly Pivots

CRUDE OIL (Weekly Chart)

Market Overview

Strategy


CRUDE 91.15 87.52 83.89 81.94 80.26 78.31 76.63 73.00 69.37

Nymex crude is technically weak on charts and is not sustaining athigher levels. Crude is overall in a consolidation phase and is

facing a strong resistance around 83/84 levels. If Nymex crudedoes not sustains above $ 83 a barrel then below $ 77.90 a slightdownward rally can come in the short term.

For the next week traders can use the sell on higher level strategyif Nymex crude sustains below 77.90$ a barrel by keeping the

proper stop loss.

R E S E A R C H




7/9

COPPER

Weekly Pivots

COPPER (Weekly Chart)

Market Overview

Strategy


COPPER 375.30 362.95 350.60 345.45 338.25 333.10 325.90 313.55 301.20

Comex copper has been in a tight range between 343 and 330levels for the past two weeks. Unless the prices sustain above

349 level we can still say that copper is weak and if it breaksand sustain below 329 level it can further test the support of319.

For the coming week traders should use the strategy of sell on higherlevels until copper sustains above 349. Comex copper has a crucial

support of 329 and 316 and Resistance at 355 and 375.For MCX copper support is found at 323 and 311 and Resistance at 354and 371.

R E S E A R C H




8/9

SCRIPTS R3 R2 R1 PP S1 S2 S3

GOLD 16694.00 16676.00 16533.00 16372.00 16229.00 16068.00 15925.00

SILVER 25094.00 26431.33 25446.67 25799.33 24814.67 25167.33 24182.67

COPPER 349.90 348.17 344.53 339.17 335.53 330.17 326.53

CRUDE 3762.00 3795.00 3712.00 3662.00 3579.00 3529.00 3446.00

NATURAL GAS 191.00 194.53 186.87 182.73 175.07 170.93 163.27

LEAD 104.10 104.60 99.70 95.30 90.40 86.00 81.10

ZINC 104.75 105.47 102.88 101.02 98.43 96.57 93.98

NICKEL 1150.80 1126.70 1100.00 1049.20 1022.50 971.70 945.00

ALLUMINIUM 103.60 104.20 101.75 99.90 97.45 95.60 93.15

R E S E A R C H


Weekly Pivots



9/9

R E S E A R C H


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Bullion Commodity Report for the Week

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