MCX Reports for the Week

8/14/2019 MCX Reports for the Week

1/9

WEEKLY

COMMODITY REPORT

Gold Drops Below $1,100 As Dollar Continues To Rally !01st February 2010 to 06th Feb 2010

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2/9

R E S E A R C H

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Date Time Currency Economic Data Forecast Previous

Weekly Commodity Report01st February to 06th Feb 2010

SunJan 31

Day 5

08:30pm

WEF Annual Meetings

ISM Manufacturing Prices

ALL

USD

07:00pm

08:30pm

USD

USD

MonFeb 01

07:00pm

08:30pm

Personal Spending m/m

Construction Spending m/m

USD

USD

Core PCE Price Index m/m

Treasury Sec Geithner Speaks

0.5%

-0.6%

0.1% 0.0%

ECONOMIC DATA

All Day Total Vehicle SalesUSD 11.3M

0.3%

-0.3%

11.4M

TueFeb 02

08:30pm Pending Home Sales m/mUSD

61.5

07:00pm Personal Income m/mUSD 0.4%0.4%

08:30pm ISM Manufacturing PMIUSD 54.955.7

06:45pm ADP Non-Farm Employment ChangeUSD -84K

08:30pm ISM Non-Manufacturing PMIUSD

-41K

WedFeb 03

06:00pm Challenger Job Cuts y/yUSD

09:00pm Crude Oil InventoriesUSD

10:30pm FOMC Member Warsh SpeaksUSD

49.851.3

-3.9M

63.3

-16.0%0.6%

-72.9%

07:00pm Prelim Nonfarm Product Productivity q/qUSD 8.1%

07:00pm Prelim Unit Labor Costs q/qUSD

5.3%

ThuFeb 04

07:00pm Unemployment ClaimsUSD

08:30pm Factory Orders m/mUSD

09:00pm Natural Gas StorageUSD

-2.5%2.2%

0.6%

470K461K

1.0%

-86B

07:00pm Non-Farm Employment ChangeUSD -85K

07:00pm Unemployment RateUSD

20K

FriFeb 05

Tentative Loan Officer SurveyUSD

07:00pm Average Hourly Earning m/mUSD

Day 1 G7 MeetingsUSD

10.0%10.0%

0.2%0.2%

03:45am FOMC Member Bullard SpeaksUSD

-17.5B

Day 2 G7 MeetingsUSD

-9.3BSatFeb 06

01:30am Consumer Credit m/mUSD


3/9

Fundamental Market Overview

Gold prices posted a third straight week of declines as strong economic data boosted the

dollar and commodity investors remained cautious of a U.S. proposal to limit bank risks.

The euro hit a rough patch this week against the U.S. currency, tumbling to below $1.39

due to fiscal fears in euro-zone countries and strong U.S. data. A stronger dollar cuts into

bullion's appeal as a dollar hedge. Gold is down about 2 percent so far in 2010.The

emergence of US dollar with gains continued to slam gold in the global market. However,

despite weak global cues, the domestic gold futures surged slightly on Friday due to

weakness in Rupee. Gold ended weaker touching a near three-month low as a dollar rise

and uncertainty about how U.S. President Barack Obama's proposal to limit risk taking by

banks could affect gold trading.

Oil prices fell 1 percent to below $73 a barrel on Friday, marking a more than 8 percent

loss for the month, as lagging energy demand outweighed stronger-than-expected U.S.

economic data. U.S. oil demand shrank 2 percent in the past four weeks from a year

earlier, while Japanese data showed crude imports fell 2.6 percent in December and

gasoline sales tumbled 2.4 percent. U.S., Japanese data point to lower oil consumption.

Oil prices have been pressured this week by a stronger dollar, which on Friday rose to its

highest level in more than six months against the euro on jitters about European

economies including Greece and Portugal. MCX Crude ended lower for the third

consecutive session pressured by sliding equities and persistent demand worries. Oil usein rich industrialized countries will never return to 2006 and 2007 levels because of more

fuel efficiency and the use of alternative. OPEC, which supplies about 40 percent of the

world's crude, will ship 23.21 million barrels a day in the month ending Feb. 13,

compared with 22.87 million a day in the four weeks to Jan. 16.

Copper prices closed at a 2-1/2-month low on Friday, after surprisingly strong U.S.

economic data failed to halt the bearish impact this week from a stronger dollar and

tighter monetary policy in China. Prices of the metal, which is used in construction and

power, suffered their worst monthly losses since December 2008. Base metals traded

down on weak global cues and profit selling yesterday. Copper settled at a 2-1/2-monthlow below 320 as investors continued to shun risk in the face of a stronger dollar and fears

over the effects of tighter monetary policy in China. Inventories of copper stored in LME

warehouses rose 1,575 metric tons, leaving them at 540,175.

R E S E A R C H



US GOLD FALLS

F O R T H I R D

STRAIGHT WEEK

ON LIQUIDATION

OIL FALLS 1 PCT

O N W E A K

DEMAND, DOWN 8

PCT IN JAPAN

COPPER ENDS AT

2 MONTH LOW,

G D P F A L L S T O

BOOST


4/9

Technical Analysis

GOLD

Weekly Pivots

GOLD (Weekly Chart)

Market Overview

SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4

GOLD 1179 1148 1117 1100 1086 1069 1056 1025 994

Gold prices posted a third straight week of declines as strongeconomic data boosted the dollar. Last week Comex gold

took a major support of 1073/ 1070$ and sustained below1100$, but in this coming week if gold sustains below 1120 $and breaks the level of 1070$ an ounce chances of gold in thecoming week would be 1050$ and further below till 1025$1030 $.

Strategy

Comex Gold is in downward phase, below 1080$/1070$,one can expect a slightly downward rally to 1050$ and

further below till 1030$ an ounce in the midterm. So tradercan use sell on higher level strategy putting a stop lossesabove 1122$. And above 1125$ an ounce Comex gold canslightly go upwards till 1147$ an ounce. Work with properstop losses.

R E S E A R C H




5/9

SILVER

Weekly Pivots

SILVER (Weekly Chart)

Market Overview

Strategy


SILVER 2027 1901 1775 1697 1649 1571 1523 1397 1271

Silver is bearish on charts and is trading in an upward channel,if silver breaks the level of 1600 and sustains below the levelof 1570$, one can expect silver to reach 1540/ 1500.

Silver sustains below 1570$ levels and did not break thelevel of 1725 $it can make a downward rally till 1550 andfurther below till 1515. Traders can use sell on higher levelstrategy by putting the proper stop losses.

R E S E A R C H




6/9

CRUDE OIl

Weekly Pivots

CRUDE OIL (Weekly Chart)

Market Overview

Strategy


CRUDE 82.55 79.56 76.57 74.73 73.58 71.74 70.59 67.60 64.61

Oil prices fell 1 percent to below $73 a barrel on Friday,marking a more than 8 percent loss for the month. Nymexcrude is bearish on charts did not sustain above the level of80$ a barrel This Major Resistance in MYMEX Crude is 86$and 93$ a barrel, and Major Support for Nymex Crude is 70$and 65$ a barrel.

Nymex Crude is in slightly downward phase so tradersshould avoid buying positions and should work with theproper breakout. Below 70$ a barrel it can be downwardtill 68$/ 65 $ a barrel , work with proper stop losses.

R E S E A R C H




7/9

COPPER

Weekly Pivots

COPPER (Weekly Chart)

Market Overview Strategy


COPPER 426.70 390.00 353.10 329.20 316.30 292.40 279.50 205.90 275.20

Copper prices closed at a 2-1/2-month low on Friday, aftersurprisingly strong U.S. economic data failed to halt the bearish

impact this week from a stronger dollar and tighter monetary policy inchina. If Comex copper sustains below 300 then it can show a slightlydownward rally till 290/ 291 level Comex copper has support at 300and 289 level & resistance at 317 and 329.

For the upcoming week traders should use thestrategy of sell on higher levels in copper until

and unless it sustains below 322, but properstop loss should be maintained.

R E S E A R C H




8/9

R E S E A R C H


Weekly Pivots


SCRIPTS R3 R2 R1 PP S1 S2 S3

GOLD 16605.00 16718.00 16459.00 16313.00 16054.00 15908.00 15649.00

SILVER 27155.00 27568.00 26534.00 25913.00 24879.00 24258.00 23224.00

COPPER 346.85 358.42 334.93 323.02 299.53 287.62 264.13

CRUDE 3501.00 3538.00 3458.00 3415.00 3335.00 3292.00 3212.00

NATURAL GAS 273.70 282.87 261.23 248.77 227.13 214.67 193.03

LEAD 104.90 107.95 100.95 97.00 90.00 86.05 79.05

ZINC 110.30 113.75 105.75 101.20 93.20 88.65 80.65

NICKEL 906.10 895.50 877.60 849.10 831.20 802.70 784.80

ALLUMINIUM 105.35 106.95 101.60 97.85 92.50 88.75 83.40


9/9

R E S E A R C H


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