MCX Bullion Commodity Reports for the Week (25th - 29th April '11)

8/7/2019 MCX Bullion Commodity Reports for the Week (25th - 29th April '11)

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Weekly Report

Commodity

www.capitalvia.com

WEEKLY

PRECIOUS METALS GAINS

TRACKING WEAK GLOBAL SHARES !

Globa l Resear ch L im i t ed

2 5 t h A p r i l - 3 0 t h A p r i l 2 0 1 1


2/8

2 | www.capitalvia.com

Economic Data

7:30pm New Home SalesUSD

6:30pm7:30pm

S&P/CS Composite-20 HPI y/yCB Consumer Confidence

USDUSD

Tue

Apr 2663.464.7

1.8%

394K

2.4%

1.6%

Date Time Currency Economic Data Forecast Previous

MonApr 25

6:00pm

6:00pm

Core Durable Goods Orders m/m

Durable Goods Orders m/m

USD

USD

Wed

Apr 27

6:00pm

6:00pm

6:00pm

6:00pm

7:30pm

Advance GDP q/q

Unemployment Claims

Advance GDP Price Index q/q

FOMC Member Duke Speaks

Pending Home Sales m/m

USD

USD

USD

USD

USD

Thu

Apr 283.1%

403K

0.4%

Weekly Report

Commodity

CAPITALVIA GLOBAL RESEARCH LIMITED

280K 250K

-3.2% -3.1%

1.6%

2.1%


3/8

Fundamental Market Overview


Spot Gold held steady on Friday in holiday-thinned trade, after hitting record highs in five consecutive sessions, supported by a weak dollar and a

list of other supporting factors, including geopolitical uncertainties and inflation concerns.The dollar index, a measure of the greenback's strength against a basket of currencies, dipped to a near three-year low, as record low interest

rates and the crushing weight of the U.S. budget deficit pushed it closer to an all-time trough. Spot Gold edged up 0.2 percent to $1,504.99

ounce, off its record high of $1,508.75 hit on Thursday. It was poised to score its sixth consecutive week of gains. Spot Gold rallied over $50, or

nearly 4 percent, in the past seven sessions. The Relative Strength Index, or RSI, rose to nearly 74, a level unseen since October last year,

suggesting the market has been heavily overbought. Li said Gold still has more steam to run on and expected prices to peak at $1,550 by the endof the second quarter, on the ongoing Middle East unrest, sovereign debt concerns on both sides of the Atlantic and inflation worries. Concerns

on rising global inflation will likely drive Gold even higher in the next few years, albeit in a slower pace.The Shanghai Gold Exchange has started a trial for over-the-counter trading, providing a convenient tool for institutional clients to trade large

quantities of Gold. Spot silver rose to as high as $46.64, just 4 cents off the 31-year high. It was trading at $46.46, up 51 percent so far this year,

outstripping Gold's 6 percent rise. Holdings in the physically backed exchange-traded precious metals funds dipped ahead of the long Easter

weekend. SPDR Gold Trust, the world's biggest Gold ETF, saw holdings dip 0.6 tonnes to 1,229.643 tonnes. Singapore and Hong Kong markets

are closed on Friday for a public holiday, while Hong Kong will remain closed on Monday.

GOLD STEADY BELOW RECORD, WEAK DOLLAR SUPPORTS

NYMEX-U.S. CRUDE GAINS ON DOLLAR, COVERING

U.S. Crude oil futures ended higher for the third straight day on Thursday as a weaker dollar attracted more buying from investors. Crude oil alsorose on a spate of short-covering ahead of the Easter weekend, amid fighting in Libya and ongoing unrest in the Middle East. But investors

fretted about disappointing data on jobless claims and factory activity in the Mid-Atlantic region, keeping gains limited. Front-month gasoline

ended at their highest level in 33 months, extending a rally following Wednesday's government data showing that U.S. gasoline inventories last

week fell for the ninth consecutive week. The New York Mercantile Exchange will be shut on Friday, ahead of Easter.

FUNDAMENTALS

On the New York Mercantile Exchange, Crude for June delivery settled at $112.29, up 84 cents, or 0.75 percent, trading from $111 to $112.48.

For the week, front-month Crude gained $2.63, or 2.4 percent, after a $3.13 or 2.78 percent loss the week before. Prices have risen in four of the

last five weeks.U.S. initial claims fell 13,000 last week, but stayed above 400,000, the Labor Department reported, suggesting a momentum slowdown in jobs

recovery. Factory activity in the Mid-Atlantic region fell in April after having hit a 27-year high in March, according to the Philadelphia Federal

Reserve Bank's business activity index. The Obama administration unveiled a new working group to focus on rising energy prices and potentialfraud in the energy markets, the Justice Department said. The International Energy Agency called on oil producing nations to reassure the

market after unrest in the Middle East and worries about supply disruptions in the region pushed Crude prices to near 32-month highs.

SHANGHAI COPPER EDGES UP ON LONDON, CHINA COPPER IMPORTS

Shanghai Copper edged up on Friday, tracking London's strength in the previous session on dollar weakness, supported by a rebound in Copper

imports from the February low. China's refined Copper imports jumped 21.5 percent on the month in March after falling 35.6 percent in February.

The dollar index was steady around its three-year low against a basket of major currencies, which helped propel Gold to a record high and London

Copper to its highest in more than a week. Shanghai's most-active Copper futures contract edged up 0.2 percent to 71,570 Yuan a tonne by 0157,

on course for a 1.1 percent weekly gain. Three-month Copper on the London Metal Exchange ended up 1.3 percent on Thursday to $9,700,

finishing the holiday-shortened week up 3.2 percent. The London market is closed on Friday and Monday for the long Easter weekend, while the

Shanghai market remains open.Guo expected Shanghai Copper to trade in a range between 70,000 Yuan and 73,500 Yuan. The strike has delayed customs clearance for Copper

shipments of some trading houses, but is unlikely to have a major impact on the Copper inflow. Stockpiles in Shanghai's bonded warehouses have

been rising in the past few months and are estimated at more than 700,000 tonnes.

Weekly Report

Commodity


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4/8

GOLD

COMEX Gold is in an upward phase. Last week COMEX Gold sustains on higher level and

closed near to its week high. In the coming week 1410$ will act as a major support inCOMEX Gold, if COMEX Gold sustains above 1470 $ an ounce then above 1510 $ an ounce

it can touch the level of 1530$ an ounce and if COMEX Gold sustains below 1450$ then it

can slightly correct and test the level of 1430$ an ounce.

Market Overview

For the next week traders can use buy on lower level strategy if COMEX Gold sustains above

1470$ an ounce, then above 1510$ it can test the level of 1530$ an ounce and above

1530$ it can further move upward. Trade by keeping the strict stop losses.Major support for COMEX Gold in the coming week is 1450$ and 1410$.Major resistance for COMEX Gold in the coming week is 1540$ and 1565$Major support in MCX Gold is 21550 and 21150Major resistance in MCX Gold is 22050 and 22300

Strategy

SILVER

COMEX Silver is technically strong on charts. Last week COMEX Silver closed near to itsweek high. For the upcoming week 4380$ and 4220$ are the crucial supports and 5000$

and 5150 $ are crucial resistance in COMEX Silver. In MCX Silver 70000 and 72500 will act

as major resistance and 65000 and 62500 will act as major supports.

Market Overview

Technically COMEX Silver is strong on charts, For the next week traders can use buy on

lower level strategy if Silver sustains above the level of 4500$ an ounce, then above 4700$

an ounce it can further go upward and can test the level of 4900$ an ounce. Trade by

keeping the proper stop losses.

Strategy

1560 1528 1516 1497 1484 1465

R3 R2 R1 PP S1 S2 S3

1433

Script

Levels

5396 4947 4776 4498 4327 4049


3600

Script

Levels

Technical Analysis


Weekly Report

Commodity


2 5 t h A p r i l - 3 0 t h A p r i l 2 0 1 1


5/8

CRUDE OIL

NYMEX Crude is in upward phase. Last week Crude oil neither was sustained on higher

levels and made a close near to its week high.. For the coming week 106$ and 100$ will actas major supports and 115 $ and 118$ a barrel will be a major resistance in NYMEX Crude.

In MCX Crude Oil major resistance is found at 5100 and 5250 and major supports will be

4700 and 4500.

Market Overview

For the next week traders can use buy on lower level strategy, if NYMEX Crude sustains

above the level of 108 $ a barrel then above 112.5 $ it can slightly come up and touch the

level of 114.00 $ a barrel and in MCX above 5025 Crude oil can touch the level of 5100 if it

sustains above 4850. Trade by keeping the proper stop loss.

Strategy

COPPER

Copper is in an upward consolidation phase and traders should use the strategy of buy onlower levels. Last week COMEX Copper was up for most part of week. If next week COMEX

Copper sustains above the level of 425 then above the level of 441 Copper can test the level

of 448. In MCX Copper above 431.5 Copper can test the level of 438.5 if it does not break

the level of 415 on the downside.

Market Overview

For the upcoming week 445 and 455 will act as major resistance and 423 and 410 will act as

major supports in COMEX Copper. For MCX Copper major resistance would be 440 and 450

and supports would be found at 415 and 400.

Strategy

123.20 116.73 114.51 110.26 108.04 103.79


97.32

Script

Levels

478.70 455.60 447.80 432.50 424.70 409.40


386.30

Script

Levels

Technical Analysis


Weekly Report

Commodity


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6/8

NATURAL GAS

Natural Gas is in a consolidation phase and traders should use the strategy of buying on

lower levels. Last week Natural Gas was up for most part of the week. If next week NaturalGas sustains above the level of 4.150 $ then above the level of 4.430$ Natural Gas can test

the level of 4.530 $ and below 4.060$ Natural Gas can slightly go down and test the level of

3.910 $. In MCX, if Natural Gas sustains above190 in the coming week then it can test the

level of 204, if it does not break the level of 185 on the downside.

Market Overview

For the upcoming week 3.650$ and 3.200 $ will act as major supports and 4.880$ and

5.200$ will act as major resistance in US Natural Gas. For MCX Natural Gas major resistance

would be 207 and 220, supports would be found at 165 and 150.

Strategy

USD / INR

USD/INR is consolidating on charts so traders can use the strategy of buying on lowerlevels. If next week USD/INR sustains above the level of 44.3000 then above the level of

44.6000 USD/INR can test the level of 44.8500 and below 43.8000 USD/INR can slightly go

down and test the level of 43.6000.

Market Overview

For the upcoming week 43.8000 and 43.5000 will act as major supports and 45.4000 and

46.0000 will act as major resistance in USD/INR.

Strategy

4.991 4.650 4.531 4.309 4.190 3.968


3.627

Script

Levels

45.4700 44.9000 44.5400 44.3300 43.9700 43.7600


43.1900

Script

Levels

Technical Analysis


Weekly Report

Commodity


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7/8

WEEKLY GAINERS INTERNATIONAL MARKET UPDATE WEEKLY

GOLD 1503.8 1.20

SILVER 4605.9 8.19

COPPER 440 3.35

CRUDE 112.29 2.40

NATURAL GAS 4.412 4.95

USD/INR 44.18 -0.16

Commodity Expiry Date Closing Price % Change Commodity Closing Price % Change

WEEKLY LOOSERS

LEAD 28 -APR-11 117.10 -2.01

Commodity Expiry Date Closing Price % Change

Gold MCX 4-JUN -11 Gold Rs./ 10gm 21571 21585 2155322138 22120 138238 12183 2828416.64549

Silver MCX 5-MAY-11 Silver RS./ KG. 62390 62503 6220071034 70783 553465 15288 10175080.918393

Copper MCX 29-APR-11 Copper RS./ KG. 417 417.8 411.4433.45 432.95 392815 24121 1619138.3815.95

Crude Oil MCX 19-MAY -11 Crude Oil RS./ BBL. 4908 4896 47565030 5018 456483 14136 2207978.50110

Natural Gas MCX 25-MAY -11 Natural Gas RS./ MM BTU 192 190.8 187.5203 201.8 15597 3097 35817.659.8

Lead MCX 28-APR-11 Lead RS./ KG. 119.5 119.45 114.8121 117.1 77780 5984 450561.86-2.4

Zinc MCX 28-APR-11 Zinc RS./ KG. 105.9 106.1 102.65106.4 104.95 80179 9931 411369.60-0.95

Aluminum MCX 28-APR-11 Aluminium RS./ KG. 118.15 118.35 117.75122.35 122.1 24304 3.95 4088 142418.77

Nickel MCX 28-APR-11 Nickel RS./ KG. 1164.9 1168 1129.31207.3 1205.9 194312 7557 555653.9341

SymbolExch-ange

ExpiryDate

CommodityName

Price UnitPreviousClose

Open LowHigh CloseQty.Traded

NetOpen

Interest

WeeklyTurnOver

(Rs. in Lakhs)

SILVER 05 -MAY-11 70783 13.45

Weekly Market Update


*

* Turnover Till Friday

NATURAL GAS 25 MAY-11 201.80 5.10

Weekly Report

Commodity


2 5 t h A p r i l - 3 0 t h A p r i l 2 0 1 1

COPPER 29 -APR-11 432.95 3.83

ZINC 28 -APR-11 104.95 -0.90


8/8

Gold

Silver

Copper

Crude Oil

Natural Gas

Lead

Zinc

Aluminum

Nickel

Scripts R3 R2 PP S1 S2 S3

23107.00

85673.67

470.03

5482.67

228.43

130.03

112.17

1336.83

129.93

22522.00

76839.67

447.98

5208.67

212.93

123.83

108.42

1258.83

125.33

21937.00

68005.67

425.93

4934.67

197.43

117.63

104.67

1180.83

120.73

21736.00

64977.33

418.42

4839.33

191.87

114.27

102.93

1154.37

119.12

21352.00

59171.67

418.97

4660.67

181.93

111.43

100.92

1102.83

116.13

20767.00

50337.67

381.83

4386.67

166.43

105.23

97.17

1024.83

111.53

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Weekly Pivots

R1

22321.00

73811.33

440.47

5113.33

207.37

120.47

106.68

1232.37

123.72

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Weekly Report

Commodity2 5 t h A p r i l - 3 0 t h A p r i l 2 0 1 1

MCX Bullion Commodity Reports for the Week (25th - 29th April '11)

Documents

Transcript of MCX Bullion Commodity Reports for the Week (25th - 29th April '11)