Bullion Commodity Reports for the Week (11th - 15th October '10)

8/8/2019 Bullion Commodity Reports for the Week (11th - 15th October '10)

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11th Oct 2010 to 16th Oct 2010

WEEKLYCOMMODITY REPORT

www.capitalvia.com

R ES EA R C H

M et als Ral ly As Dol lar Cont inues To Fal l !
http://reutersnews//reuters/local?cache=1440&id=%7bEC7E4593-1727-4CED-AFD6-B2B6F175322A%7dhttp://reutersnews//reuters/local?cache=1440&id=%7bEC7E4593-1727-4CED-AFD6-B2B6F175322A%7d


2/11

R ES EA R C H

Weekly Commodity Report1st March to 6th Mar 2010

R ES EA R C HR ES EA R C H

ECONOMIC DATA

Weekly Report Commodity11th Oct to 16th Oct 2010

www.capitalvia.com | 2

Date Time Currency Economic Data Forecast Previous

6:15pm

Day 3

FOMC Member Dudley Speaks

IMF Meetings

USD

ALL

SunOct 10

All Day Bank HolidayUSDMonOct 11

7:30pm

11:30pm

IBD/TIPP Economic Optimism

FOMC Meeting Minutes

USD

USD

TueOct 12

45.346.7

-0.1%

-52.3B

1:40pm

6:00pm

13th-15th

Fed Chairman Bernanke Speaks

Import Prices m/m

Federal Budget Balance

USD

USD

USD

WedOct 13

0.6%

-90.5B

All Day

6:00pm

6:00pm

6:00pm

6:00pm

8:00pm

8:30pm

OPEC Meetings

PPI m/m

Trade Balance

Unemployment Claims

Core PPI m/m

Natural Gas Storage

Crude Oil Inventories

ALL

USD

USD

USD

USD

USD

USD

ThuOct 14

0.4%

-42.8B

445K

0.1%

85B

3.1M

0.2%

-43.5B

450K

5:45pm

6:00pm

6:00pm

6:00pm

6:00pm

6:00pm

7:25pm

7:25pm

7:30pm

Fed Chairman Bernanke Speaks

Core CPI m/m

Core Retail Sales m/m

Retail Sales m/m

CPI m/m

Empire State Manufacturing Index

Prelim UoM Consumer Sentiment

Prelim UoM Inflation Expectations

Business Inventories m/m

ALL

USD

USD

USD

USD

USD

USD

USD

USD

FriOct 15

0.0%

0.6%

0.4%

0.3%

4.1

68.2

2.2%

1.0%

0.1%

0.4%

0.5%

0.2%

7.1

68.8

0.5%

5:45pm FOMC Member Rosengren SpeaksUSDSatOct 16


3/11

R ES EA R C H




U.S. Gold futures ended nearly 1 percent higher on Friday following a sharp retreat in the previous session, as a

disappointing nonfarm payrolls report reinforced expected U.S. monetary easing. Gold prices were choppy

early; hit ting a session low of $1,324.85 an ounce after St. Louis Fed chief James Bullard said policy makers face

a tough decision at next month's meeting. COMEX December Gold futures sett led up $10.30 at $1,345.30 an

ounce on the COMEX division of the NYMEX. A U.S. Labor Department report showed the U.S. economy shed

jobs in September for a fourth straight month as government payrolls fell and private hiring slowed. Gold has

rallied about 10 percent since the end of August. It hit a record high on Thursday of $1,364.60 an ounce on a spot basis before finishing lower

for the day. The precious metal is viewed as a hedge against inf lation and dollar depreciation. COMEX Gold market' s open interest climbed

4,737 contracts to record high 621,941 lots as of Wednesday, according to exchange data.

GOLD RISES 1 PCT

ON WEAK

PAYROLLS, FED

EASING HOPES

Fundamental Market Overview

Oil prices rose on Friday, posting a third straight weekly rise as investors bet that a weaker-than-expected U.S.

jobs report bolstered the case for more monetary easing by the Federal Reserve that would keep pressure on

the dollar. The Oil futures complex got further support as a strike at France's top oil port, now in its 12th day

threatened to cut European oil products output. Also, a surprisingly sharp cut in the U.S. government' s corn

crop forecast sent cash ethanol prices sharply higher. U.S. nonfarm payrolls fell 95,000 in September, the U.S.

Labor Department said. Private sector jobs rose 64,000, less than the consensus forecast, after a 93,000 rise inAugust. U.S. Crude for November delivery rose 99 cents, or 1.21 percent, to sett le at $82.66 a barrel, having traded from $80.30 to $83.13.

For the week, prices rose $1.08, or 1.32 percent. ICE Brent November Crude rose 60 cents, or 0.72 percent, to sett le at $84.03 a barrel. Brent

was up 28 cents for the week, a seventh straight weekly rise.

OIL UP ON WEAK

DOLLAR AS U.S.

PAYROLLS SLIP

Industrial metals rallied sharply on Friday, with Copper extending gains into a fourth week to a fresh 26-

month peak, after a surprise fall in U.S. payrolls strengthened talk of fresh stimulus measures to boost the

world's biggest economy. Copper for December delivery on the COMEX metals division of the New York

Mercantile Exchange surged 9.50 cents, or 2.6 percent, to sett le at $3.7745 per lb, a new closing high for the

third position futures contract since July 7, 2008. On the London Metal Exchange (LME), benchmark Copper

jumped to $8,349.50 a tonne, its highest since mid-July 2008, before ending up $200 at $8,300 a tonne.Prices overcame earlier bouts of selling pressure tied to overnight data showing an eight-percent build in weekly Shanghai Copper stocks.

Copper swept up in dollar-led rally across broader metals complex after disappointing jobs report. London Metal Exchange (LME) warehouse

stocks fell by 1,450 tonnes to 372,000 tonnes on Friday. Copper inventories in warehouses monitored by Shanghai Futures Exchange rose 8

percent to 94,174 tonnes from week earlier. COMEX Copper warehouse stocks stood even at 83,505 short tons as of Thursday.

US COPPER RALLY

ON LOOM ING FED

MOVE AFTER U.S.

DATA



4/11

R ES EA R C H




COMEX Gold is in an upward trading channel. Last week COMEXGold sustained above the level of 1320$ and made a high of1366$ an ounce. In the coming week 1310$ will act as a goodsupport in COMEX Gold, if COMEX Gold sustain above 1320$ anounce then above 1350$ an ounce it can touch the level of 1380$

an ounce and if COMEX Gold sustains below 1325$ then it canslight ly correct and test t he level of 1295$ an ounce.

For the next week traders can use buy on lower level strategy ifCOMEX Gold sustains above 1320$ an ounce, then above 1350$it can further go upward and can test t he level of 1380$ an ounce.Trade by keeping the strict stop losses.Major support for COMEX Gold in the coming week would be

1310$ and 1270$.Major resistance for COMEX Gold in the coming week would be1350$ and 1400$Major support in MCX Gold is 18900 and 18500Major resistance in MCX Gold is 19750 and 20200

Market Overview Strategy

Weekly Chart

Technical Analysis

GOLD

SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4

GOLD 1499 1446 1394 1369 1341 1317 1288 1236 1183

Weekly Pivot s



5/11

R ES EA R C H



COMEX Silver is in a bullish phase. Last week COMEX Silversustained and closed above the crucial level of 2290$ an ounce.For the upcoming week 2235$ and 2160$ are the crucial supportsand 2360$ and 2400$ is a crucial resistance in COMEX Silver. InMCX Silver 35100 and 35700 will act as major resistance and

33500 and 32850 will act as major supports.

For the next week traders can use buy on lower level strategy ifSilver sustains above the level of 2290$ an ounce, then above2320$ an ounce it can further go upward. Trade by keeping theproper stop losses.


StrategyMarket Overview

Weekly Pivot s


SILVER 2797 2625 2453 2382 2281 2210 2109 1937 1765

SILVER

Weekly Chart



6/11

R ES EA R C H



CRUDE OIL

NYMEX Crude is consolidating on charts. Last week Crude Oilbreak the important level of 84$ but was not able to sustain nearit. For the coming week 80$ will act as major support and 86$ abarrel will be a major resistance. In MCX Crude Oil for the nextweek major resistance is found at 3775 and 3880 and major

supports will be 3550 and 3475.

For the next week traders can use buy on lower level strategy, ifNYMEX Crude break the level of 84.5$ a barrel and sustains abovethat then it can slightly come up and touch the level of 86$ abarrel. Trade by keeping the proper stop loss.



Weekly Pivot s


CRUDE 94.85 90.72 86.59 84.63 82.46 80.50 78.33 74.20 70.07

Weekly Chart



7/11

R ES EA R C H



COPPER

Copper is in an upward consolidation phase and traders shoulduse the strategy of buying on lower levels. COMEX Copper didbreak the level of 379 last week but did not sustained above it. Ifnext week COMEX Copper sustains above the level of 370 thenabove the level of 381 Copper can test the level of 390. In MCX

Copper above 372 Copper can test the level of 383 if it does notbreak the level of 359 on the downside.

For the upcoming week 390 and 410 will act as major resistanceand 365 and 340 w ill act as major supports in COMEX Copper. ForMCX Copper major resistance would be 377 and 388 andsupports would be found at 357 and 346.



Weekly Pivot s


COPPER 421.10 405.40 389.70 383.60 374.0 367.90 358.30 342.60 326.90

Weekly Chart



8/11

R ES EA R C H



NATURAL GAS

Natural Gas is in downward phase and traders should use thestrategy of selling on higher levels. Last week Natural Gas tooksupport of the important level of 3.600. If next week Natural Gassustains below the level of 3.600$ then below the level of 3.450$Natural Gas can test the level of 3.300$ and above 3.900$ Natural

Gas can slight ly go up and test the level of 4.050$. In MCX NaturalGas below 160 Natural Gas can test the level of 153 if it does notbreak the level of 168 on the upside.

For the upcoming week 3.450$ and 3.150$ will act as majorsupports and 3.900$ and 4.150$ will act as major resistance in USNatural Gas. For MCX Natural Gas major resistance would be 175and 191 and support s would be found at 152 and 143.



Weekly Pivot s


NG 4.622 4.317 4.012 3.831 3.707 3.526 3.402 3.097 2.792

Weekly Chart



9/11

R ES EA R C H



USD/INR

USD/INR is bearish on charts so traders should use the strategy ofselling on higher levels. If next week USD/INR sustains below thelevel of 44.7000 then below the level of 44.0500 USD/INR can testthe level of 43.5000 and above 44.8000 USD/INR can slightly goup and test the level of 45.3000.

For the upcoming week 44.0000 and 43.5000 will act as majorsupports and 45.1000 and 45.7000 will act as major resistance inUSD/INR.



Weekly Pivot s


USD/INR 46.5400 45.8300 45.1200 44.7500 44.4100 44.0400 43.7000 42.9900 42.2800

Weekly Chart



10/11


Weekly Pivots

R ES EA R C H



GOLD

COPPER

NATURAL GAS

ZINC

ALUMINUM

20634.00 20057.00 19793.00 19480.00 19216.00

390.25 378.50 374.10 366.75 362.35

191.67 178.57 170.53 165.47 157.43

111.53 106.33 103.82 101.13 98.62

113.90 109.65 108.20 105.40 103.95

Scripts R3 R2 R1 PP S1

SILVER 37994.00 36109.00 35405.00 34224.00 33520.00

CRUDE 3971.67 3819.67 3752.33 3667.67 3600.33

LEAD 113.83 107.43 104.27 101.03 97.87

NICKELNICKEL 1223.50 1155.10 1121.10 1086.70 1052.70


18903.00

355.00

152.37

95.93

101.15

S2

32339.00

3515.67

94.63

1018.30

18326.00

343.25

139.27

90.73

96.90

S3

30454.00

3363.67

88.23

949.90


11/11


R ES EA R C H


R ES EA R C H

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Bullion Commodity Reports for the Week (11th - 15th October '10)

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Transcript of Bullion Commodity Reports for the Week (11th - 15th October '10)