Bulion Commodity Reports for the Week

8/9/2019 Bulion Commodity Reports for the Week

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19th Jul 2010 to 24th Jul 2010

w w w . c a p

i t a l v i a . c o m

Base Metals Choppy On Fresh Fundamentals !

WEEKLYCOMMODITY REPORT

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R E S E A R C H

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R E S E A R C H

Weekly Commodity Report 1st March to 6th Mar 2010

R E S E A R C HR E S E A R C H

Date Time Currency Economic Data Forecast Previous

ECONOMIC DATA

6:30pm

10:30pm

FOMC Member Duke Speaks

NAHB Housing Market Index

USD

USD

MonJul 19

Weekly Report Commodity19th Jul to 24th Jul 2010

6:00pm

6:00pm

7:30pm

Building Permits

Housing Starts

FOMC Member Tarullo Speaks

USD

USD

USD

Tue

Jul 20 0.59M

0.57M

17

0.58M

0.57M

16

www.capitalvia.com | 2

7:30pm

8:00pm

Fed Chairman Bernanke Testifies

Crude Oil Inventories

USD

USD

WedJul 21

-5.1M

6:00pm

7:30pm

7:30pm

7:30pm

7:30pm

8:00pm

Unemployment Claims

Existing Home Sales

Fed Chairman Bernanke Testifies

CB Leading Index m/m

HPI m/m

Natural Gas Storage

USD

USD

USD

USD

USD

USD

ThuJul 22

5.66M

0.4%

0.8%

78B

429K

5.15M

-0.3%

-0.3%

453K



R E S E A R C H




U.S. Gold futures ended nearly 2 percent lower on Friday as weak inflation data and a sell-off inequities prompted fund selling. Gold dropped to its lowest level in more than a week on Friday, asweak U.S. inflation data and heavy inflows to government bonds from the equity market promptedfunds to sell the metal. A fresh outflow from the world's largest gold exchange traded fund and areport showing weak energy costs pushing US consumer prices lower for a third straight monthhave undermined appetite for the precious metal. Gold prices ended the week almost 2 percent

lower, and the market has been largely treading water after news of massive gold swap operations conducted by the Bank ofInternational Settlements in recent months stirred fears of gold dumping. Spot gold slipped as low as $1,185.85 an ounce andwas at $1,189.65 an ounce against $1,207.75 late in New York on Thursday. U.S. Gold futures for August delivery settled down$20.10, or 1.7 percent, at $1,188.20. Sharp doses of fund selling sent gold futures prices sharply lower in early sessions just afterthe U.S. COMEX open. Gold hit a record $1,264.90 an ounce in late June, after worries over the sovereign debt of some eurozone economies sparked buying of the metal as a haven from volatility in the currency markets. As those fears recede, it hasslipped back. Gold's decline coincided with gains in U.S. Treasuries, as falling inflation and tumbling consumer sentimentenhanced the allure of safe-haven government bonds. Wall Street dropped 2.5 percent after data showed consumer sentimentfell to an 11-month low.

Oil fell to around $76 a barrel on Friday, dropping alongside equities markets as weakU.S. consumer sentiment and falling consumer prices lowered investor appetite for risk.Data released on Friday showed U.S. consumer prices fell for a third straight month whileconsumer sentiment tumbled to an 11-month low, helping push down both oil andequities. Falling consumer prices can be a sign that an economy is in deceleration, which

would reduce demand for oil. Low consumer sentiment implies less consumer demandfor goods and services, which would likewise hurt oil demand. U.S. Crude for August settled down 61 cents to$76.01 a barrel, closing the week 8 cents lower than the previous week. Prices reached an inter day high of $77.15.The S&P 500 and the Dow Jones industrial average were both down more than 2 percent in afternoon trading,spurred by lackluster earnings and the sluggish economic data. That data overshadowed a decline in the U.S. dollar,which is usually bullish for crude because it makes oil cheaper for buyers that hold other currencies. Traders alsoshrugged off news of possible storms that could disrupt Gulf of Mexico oil operations. It was days away frompotentially entering the oil-rich Gulf of Mexico. U.S. Crude prices have traded in a range between $71 and $80 abarrel for almost six weeks as volatility related to the European debt crisis dwindled. This week they have foundsupport near the $75 per barrel range. Over the year, prices have stayed within a $23 span, hitting a 19-month peakabove $87 and a trough below $65, both in May.

U.S. Copper futures settled at a two-week low on Friday, weighed down by weakconsumer price and sentiment data that raised the specter of a double-dip recession inthe world's largest economy. Copper for September delivery plunged 8.25 cents, or 2.7percent, to settle at $2.9295 per lb on the COMEX metals division of the New YorkMercantile Exchange. Copper weighed down by economic growth concerns after data

showed U.S. consumer prices dropped for a third straight month in June and consumersentiment sank to an 11-month low in July. Europe's largest Copper smelter Aurubis, expects Chinese imports ofCopper and Copper products to remain high in the second half of 2010 despite a sharp drop in June. London MetalExchange copper stocks shed another 1,300 tonnes to 426,425 tonnes on Friday, down more than 100,000 tonnes

since mid-February. Deliverable Copper inventories in warehouses monitored by the Shanghai Futures Exchangerose 2 percent to 120,238 tonnes from 117,459 tonnes a week ago. COMEX Copper inventories unchanged at101,210 short tons as of Thursday. LME Copper for three-month delivery closed down $195 at $6,485 per tonne.

“GOLD DROPS 1.5

PCT ON FUND

SELLING, WEAK

DATA ”

Fundamental Market Overview


“OIL FALLS AMID

WEAK U.S. DATA”

“US COPPER ENDS

AT 2-WK LOW AS

DOUBLE-DIP FEARS

BITE”



R E S E A R C H




COMEX Gold is in consolidation phase. Last week COMEX Golddid a low of 1185$ and closed near its low. In the coming week1165$/ 1145$ an ounce will act as a good support in COMEXGold, below 1165$/1160$ an ounce it can slightly correct and

could test the levels of 1150 $/ 1125 $ an ounce and above 1220$an ounce it can touch the level of 1240$ /1260$.

For the next week traders can use buy on lower level strategy if

COMEX Gold sustains above 1155$/ 1160$ an ounce by keeping

the strict stop losses.Major support for COMEX Gold in the coming week would be

1160$ and 1120$.Major resistance for COMEX Gold in the coming week would be

1270$ and 1295$Major support in MCX Gold is 17900 and 17350Major resistance in MCX Gold is 18900 and 19300

Market Overview Strategy

Weekly Chart

Technical Analysis

GOLD

SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4

GOLD 1296 1263 1230 1209 1197 1176 1164 1131 1098

Weekly Pivots




R E S E A R C H



COMEX Silver is in upward consolidation phase. Last weekCOMEX Silver sustained above 1750$ an ounce. For the upcomingweek 1700$ and 1650$ are crucial supports and 1890 $ is a crucialresistance in COMEX Silver. In the coming week if COMEX Silver

fails to sustain above 1850$/ 1880$ then below 1740$/ 1750$ anounce it can come slightly downward and might test the level of1700$ and 1660$/ 1650$ an ounce. Above 1880$ / 1900 it canmove slightly upward.

For the next week traders can use sell on higher level strategy ifSilver sustains below the level of 1850$/1880$ an ounce, bykeeping the proper stop losses.


StrategyMarket Overview

Weekly Pivots


SILVER 2043 1962 1882 1830 1801 1750 1721 1640 1560

SILVER

Weekly Chart




R E S E A R C H



CRUDE OIL

NYMEX Crude is consolidating on charts and moving in a rangebetween 70$ to 80$ a barrel from last 6 weeks. For the comingweek 71$/67$ will be a major support and 79.40$ to 82.85$ abarrel will be a major resistance. Crude is in consolidation phase

and in the coming week if Crude sustains below 71.10 $ a barrelthen it can further go downward. And above 80.10 $ a barrel ifNYMEX Crude sustains then a slight upward rally can come.

For the next week traders can use the sell on higher level strategy ifNYMEX Crude does not sustain above the level of 80$ a barrel bykeeping the proper stop loss.



Weekly Pivots


CRUDE 87.84 83.94 80.04 78.02 76.14 74.12 72.24 68.34 64.44

Weekly Chart




R E S E A R C H



COPPER

Last week COMEX Copper was moving in a very narrow range andwas not able to sustain at higher levels. On Friday it break itsimportant support of 300 and even closed near to its low. For thecoming week traders should use the strategy of sell on higher

levels until COMEX Copper sustains below 300 level. Next week ifCOMEX copper sustains below 285 we can see copper near 273level.

For the upcoming week 312 and 328 will act as major resistanceand 285 and 268 will act as major supports in COMEX Copper. ForMCX Copper major resistance would be 317 and 334 andsupports would be found at 284 and 263.



Weekly Pivots


COPPER 338.22 324.62 311.02 301.98 297.42 288.38 283.82 270.22 256.62

Weekly Chart





Weekly Pivots

R E S E A R C H



GOLD

COPPER

NATURAL GAS

ZINC

ALUMINUM

18985.00 18629.67 18473.33 18361.67 18205.33 18093.67 17937.33

315.70 318.63 312.62 309.53 303.52 300.43 294.42

231.50 229.03 221.37 211.23 203.57 193.43 185.77

87.40 88.43 86.07 84.73 82.37 81.03 78.67

96.05 96.12 94.48 92.92 91.28 89.72 88.08

Scripts R3 R2 R1 PP S1 S2 S3

SILVER 29466.00 28944.00 28862.00 29258.00 29176.00 29572.00 29490.00

CRUDE 3711.00 3711.67 3638.33 3565.67 3492.33 3419.67 3346.33

LEAD 86.35 86.95 85.05 83.75 81.85 80.55 78.65

NICKELNICKEL 927.60 937.17 916.13 904.67 883.63 872.17 851.13





R E S E A R C H



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Bulion Commodity Reports for the Week

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