Bullion Commodity Reports for the Week (27th - 31st December - 2010)

8/8/2019 Bullion Commodity Reports for the Week (27th - 31st December - 2010)

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WEEKLYREPORT

What’s Market PredictionThis Week

Global Research Limited

PRECIO US METAL ENDS WEAKER ONPROFIT TAKING IN THIN HOLIDAY TRADING !PRECIOUS METAL ENDS WEAKER ONPROFIT TAKING IN THIN HOLIDAY TRADING !|| 27th Dec 2010 - 01st Jan 2011



Weekly Report

Economic DataDate Time Currency Economic Data Forecast Previous

Tentative

7:30pm

8:30pm

8:30pm

Treasury Currency Report

S&P/CS Composite-20 HPI y/y

CB Consumer Confidence

Richmond Manufacturing Index

USD

USD

USD

USD

TueDec 28

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| 27th Dec 2010 - 01st Jan 2011Commodi ty Marke t

0.6%

54.1

9

7:00pm

8:15pm

8:30pm

9:00pm

9:30pm

Unemployment Claims

Chicago PMI

Pending Home Sales m/m

Natural Gas Storage

Crude Oil Inventories

USD

USD

USD

USD

USD

ThuDec 30

62.5

420K

10.4%

-184B

-5.3M



Weekly Report

Fundamental Market Overview

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.S. Gold futures settled moderately lower on Thursday, ahead of the long Christmas weekend,hurt by the firming dollar after a slew of positive U.S. economic data reinforced the view that theUpace of growth increased in the fourth quarter. COMEX February Gold futures lost $6.90, or 0.5

percent, at finish a holiday-shortened week at $1,380.50 an ounce on the COMEX division of the NYMEX.Range dropped to $1,372.60 from $1,389 an ounce. COMEX Gold volume was more than two-thirdslighter than average for the past 30 days, in line with volumes for most of the commodity complex. COMEXput gold floor trade at 72,346 lots by the close, down slightly from Wednesday's thin count of 72,534 lots.Gold futures were hit when the euro slid to a three-week low against the dollar. Dollar rose after a raft of

robust readings on the U.S. economy portrayed an improved fourth-quarter growth scenario comparedwith somewhat less bright third-quarter gains. Pickup in U.S. economic prospects prompted someplayers to exit Gold as a safe-haven asset and as the dollar firmed. New U.S. claims for jobless benefitsdipped last week and consumer spending increased in November for a fifth straight month, reinforcingviews of a solid economic growth pace in the fourth quarter. Yellow metal supported by the prospect ofinflation heating up if economic activity continues to accelerate. Most players expect Gold to stick withinits $1,360 to $1,400 an ounce range into early 2011. Spot Gold was bid at $1,377.40 an ounce down fromWednesday's ending bid at $1,384.55 per ounce in New York. As the euro rebounded in late dealings,bullion prices returned to the middle of their recent range, after hitting a one-week low earlier at$1,372.05 per ounce. London afternoon Gold fix was set lower at $1,373.50 an ounce.

US GOLD ENDS WEEK

LOWER AS STRONG

DATA LIFTS DOLLAR

.S. Crude oil futures prices were closed above 91$ a barrel on Thursday after data from the U.S

government showed national jobless claims fell only slightly last week and consumer spending

Urose for a fifth straight month in November. U.S. initial jobless in the week to Dec. 18 were420,000, down slightly from 423,000 the previous week, the U.S Department of Labor said on Thursday.U.S. consumer spending rose 0.4 percent in November, slightly less than expected, after increasing by anupwardly revised 0.7 percent in October, according to data from the Commerce Department. U.S crudesettled at the highest level since October 2008 on Wednesday, supported largely by a third straight weeklydrop in crude oil inventories and a cold spell on both sides of the Atlantic. U.S. Crude oil inventories fell5.33 million barrels in the week to Dec. 17, compared to expectation for a 2.3 million barrels drop, the U.S.Energy Information Administration said on Wednesday.NYMEX energy open outcry floor trading to shutone hour early on Thursday at 1:30 p.m. EST (1830 GMT).

CRUDE ENDS

ABOVE 91$AFTER CLAIMS,

SPENDING DATA

hanghai Copper held steady on Friday, supported by upbeat U.S. data and ongoing supply

concerns, but cash squeeze in the Chinese market towards the end of the year curbed

S momentum. Positive data from the United States provided an improved outlook for the world'slargest economy, indicating stronger demand for industrial metals. Demand for a range of long-lastingU.S. manufactured goods surged in November and consumer spending rose for a fifth-straight month,cementing views of a solid economic growth pace in the fourth quarter. Shanghai's benchmark third-month Copper closed up half a percent to 68,950 Yuan ($10,372), posting a 0.8 percent weekly gain.Three-month Copper on the London Metal Exchange climbed about half a percent to $9,345 a tonne,headed for a weekly rise of 3 percent and its fourth-straight week of gains. "Chinese market is weak,weighed down by the cash tightness in the capital market”. The year-end profit-taking trade and lack ofrisk appetite, also kept market activity light and cautious. Just over 1,100 lots of Copper went through theLME Select, the exchange's electronic trading platform, barely half of the average volume during Asianhours. Copper fundamentals -- tightening supply and improving demand -- have led traders and

analysts to believe that prices of the industrial metal will continue to ascend in 2011. World refined Copperconsumption exceeded production by 436,000 tonnes between January and September this year,compared with a deficit of 56,000 tonnes in the same period a year ago. Shanghai Futures Exchange willstart a plan on Friday that will see Copper and aluminum in bonded warehouses in China used for deliveryagainst contracts. LME's Copper stocks gained 3,775 tonnes, or about one percent, from the previousday to 367,725 tonnes by Thursday; it's highest since late October.

COPPER STEADY IN

THIN TRADE; US

DATA, SUPPLY

CONCERN AID

Commodi ty Marke t| 27th Dec 2010 - 01st Jan 2011



Weekly Report

Technical Analysis

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COMEX Gold is in an upward phase. Last weekCOMEX Gold was in a very narrow range due toChristmas break. In the coming week 1350$ will act asa major support in COMEX Gold, if COMEX Gold

sustains above 1360$ an ounce then above 1395 $ anounce it can touch the level of 1410$ an ounce and ifCOMEX Gold sustains below 1350$ then it can slightlycorrect and test the level of 1320$ an ounce.

G O L D

Market Overview

For the next week traders can use buy on lower levelstrategy if COMEX Gold sustains above 1350$ anounce, then above 1395$ it can test the level of 1410$an ounce and above 1435$ it can further move

upward. Trade by keeping the strict stop losses.Major support in COMEX Gold for the coming week is1345$ and 1310$.Major resistance in COMEX Gold for the coming weekis 1410$ and 1450$Major support in MCX Gold is 20050and 19700Major resistance in MCX Gold is 20750 and 20950

Strategy

Weekly Pivots

Script

R3

R2

R1

PP

S1

S2

S3

Levels

1422

1402

1391

1382

1371

1361

1341

COMEX Silver is in an upward consolidation phase.Last week COMEX Silver was trading in a very narrow

range and neither had it sustained on higher nor lowerlevel. For the upcoming week 2690$ and 2500$ arethe crucial supports and 3080$ and 3150$ are crucialresistance in COMEX Silver. In MCX Silver 45800 and47250 will act as major resistance and 42650 and40900 will act as major supports.

S I LV E R

Market Overview

Technically COMEX Silver is bullish, For the next weektraders can use buy on lower level strategy if Silver

sustains above the level of 2800$ an ounce, thenabove 2965$ an ounce it can further go upward andcan test the level of 3020$ an ounce. Trade bykeeping the proper stop losses.

Strategy

Weekly Pivots

Script

R3

R2R1

PP

S1

S2

S3

Levels

3083

30042968

2924

2889

2845

2765




Weekly Report

Technical Analysis

NYMEX Crude is in upward consolidation phase. Lastweek Crude break the level of 90$ a barrel and able tosustain above it. For the coming week 86$ will act asmajor support and 92 $ a barrel will be a major

resistance. In MCX Crude Oil major resistance is foundat 4250 and 4400 and major supports will be 3865 and3700.

CRU DE OIL

Market Overview

For the next week traders can use buy on lower levelstrategy, if NYMEX Crude sustains above the level of86$ a barrel then above 92.5$ it can slightly come upand touch the level of 94$ a barrel and in MCX above

4210 Crude oil can touch the level of 4270. Trade bykeeping the proper stop loss.

Strategy

Weekly Pivots

Script

R3

R2

R1

PP

S1

S2

S3

Levels

98.09

94.19

92.85

90.29

88.95

86.39

82.49

Copper is in an upward consolidation phase andtraders should use the strategy of buying on lower

levels. Last week COMEX Copper initially was in abullish trend we saw good profit booking coming athigher levels. If next week COMEX Copper sustainsabove the level of 415 then above the level of 430Copper can test the level of 437. In MCX Copperabove 430 Copper can test the level of 437 if it doesnot break the level of 413 on the downside.

C O P P E R

Market Overview

For the upcoming week 440 and 450 will act as majorresistance and 407and 395 will act as major supports

in COMEX Copper. For MCX Copper major resistancewould be 435 and 445 and supports would be found at410and 400.

Strategy

Weekly Pivots

Script

R3

R2R1

PP

S1

S2

S3

Levels

451.05

437.45431.65

423.85

418.05

410.25

396.65

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Weekly Report

Technical Analysis

Natural Gas is in a downward phase and tradersshould use the strategy of selling on higher levels. Lastweek Natural Gas closed near to its weekly low. If nextweek Natural Gas does not sustains above the level of

4.440$ then below the level of 3.940 $ Natural Gas cantest the level of 3.850 $ and above 4.440$ Natural Gascan slightly go up and test the level of 4.550$. In MCX,if Natural Gas sustains below 178 in the coming weekthen it can test the level of 172, if it does not break thelevel of 196 on the upside.

NATURAL GAS

Market Overview

For the upcoming week 3.650$ and 3.150$ will act asmajor supports and 4.650 $ and 5.000$ will act asmajor resistance in US Natural Gas. For MCX NaturalGas major resistance would be 216 and 233, supports

would be found at 172 and 162.

Strategy

Weekly Pivots

Script

R3

R2

R1

PP

S1

S2

S3

Levels

4.631

4.369

4.226

4.107

3.964

3.845

3.583

USD/INR is consolidating on charts so traders can usethe strategy of buying on lower levels. If next week

USD/INR sustains above the level of 44.5000 thenabove the level of 45.6500 USD/INR can test the levelof 46.0500 and below 44.2000 USD/INR can slightlygo down and test the level of 43.8500.

USD / INR

Market Overview

For the upcoming week 44.500 and 43.8000 will act asmajor supports and 45.9000 and 46.4000 will act as

major resistance in USD/INR.

Strategy

Weekly Pivots

Script

R3

R2R1

PP

S1

S2

S3

Levels

46.7070

45.977045.5630

45.2470

44.8330

44.5170

43.7870

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Weekly ReportCommodi ty Marke t

Symbol Exch-ange

ExpiryDate

CommodityName

Price Unit PreviousClose

Open LowHigh Close Qty.Traded

Net OpenInterest

WeeklyTurnOver(Rs. in Lakhs)

GOLD MCX 05-FEB-11 GOLD RS./ 10GM. 20519 20535 2038220640 20462 97746 18337 86543.53

SILVER MCX 05-MAR-11 SILVER RS./ KG. 44343 44400 4401144724 44418 207526 16774 2763544.39

COPPER MCX 28- FEB-11 COPPER RS./ KG. 419.35 418.9 418.9428.95 427.5 393996 38019 1674556.74

CRUDE OIL MCX 19-JAN-11 CRUDE OIL RS./ BBL. 4059 4051 40234163 4157 432197 22242 1766746.88

NATURAL GASMCX 25-JAN-11 NATURAL GASRS./ MM BTU 190.1 189.6 184.5195.6 189 48506 13684 114724.39

LEAD MCX 31-DEC-10 LEAD RS./ KG. 110.35 110.05 109.05111.85 110.8 55555 5247 307257.90

ZINC MCX 31-DEC -10 ZINC RS./ KG. 103.8 103.5 102.95105.45 104.1 80431 7917 419172.11

NICKEL MCX 31-DEC -10 NICKEL RS./ KG. 1132.1 1131.5 1070.51135 1080.8 190031 11015 524778.32

ALUMINUM MCX 31-DEC -10 ALUMINUM RS./ KG. 106.15 106.3 105.85110.95 110.35 37838

-57

75

8.15

98

-1.1

0.45

0.3

-51.3

4.2 2502 206314.30

Weekly Market Update

Weekly Gainers

COMMODITY EXPIRY DATE CLOSING PRICE % CHANGE

ALUMINUM

CRUDE OIL

31-DEC-10

19-JAN-11

110.35

4157

3.96

2.41

Weekly Losers

COMMODITY EXPIRY DATE CLOSING PRICE % CHANGE

NICKEL 31-DEC -10 -4.53

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International Market Update Weekly

COMMODITY CLOSING PRICE % CHANGE

GOLD

SILVER

COPPER

CRUDE

NATURAL GAS

USD/INR

1380.5

2932.8

425.85

91.51

4.083

45.09

0.09

0.67

2.39

3.97

0.42

-0.13

1080.8

COPPER 28- FEB-11 427.5 1.94

| 27th Dec 2010 - 01st Jan 2011

NATURAL GAS 25- JAN-11 -0.58189

GOLD 5-FEB-11 -0.2820462

*

(*UPDATED TILL DEC 24, 2010 ; 6:00 P.M. )



Weekly Report

Weekly Pivots

GOLD

Scripts R3

SILVER

COPPER

CRUDE

NATURAL GAS

LEAD

ZINC

NICKEL

ALUMINUM

R2 R1 PP S1 S2 S3

21010.67 20752.67 20607.33 20494.67 20349.33 20236.67 19978.67

45810.33 45097.33 44757.67 44384.33 44044.67 43671.33 42958.33

445.22 435.17 431.33 425.12 421.28 415.07 405.02

4394.33 4254.33 4205.67 4114.33 4065.67 3974.33 3834.33

211.90 200.80 194.90 189.70 183.80 178.60 167.50

116.17 113.37 112.08 110.57 109.28 107.77 104.97

109.17 106.67 105.38 104.17 102.88 101.67 99.17

1224.43 1159.93 1120.37 1095.43 1055.87 1030.93 966.43

119.25 114.15 112.25 109.05 107.15 103.95 98.85

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Weekly Report

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RULES

Commodi ty Marke t

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Bullion Commodity Reports for the Week (27th - 31st December - 2010)

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Transcript of Bullion Commodity Reports for the Week (27th - 31st December - 2010)