bullion commodity reports for the week (11th - 15th october '10)
TRANSCRIPT
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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
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8/8/2019 Bullion Commodity Reports for the Week (11th - 15th October '10)
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Weekly Commodity Report1st March to 6th Mar 2010
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ECONOMIC DATA
Weekly Report Commodity11th Oct to 16th Oct 2010
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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
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Weekly Commodity Report1st March to 6th Mar 2010
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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 $8,300 a tonne.Prices overcame earlier bouts of selling pressure tied to overnight data showing an eight-percent build in weekly Shanghai Copper stocks.
Copper swept up in dollar-led rally across broader metals complex after disappointing jobs report. London Metal Exchange (LME) warehouse
stocks fell by 1,450 tonnes to 372,000 tonnes on Friday. Copper inventories in warehouses monitored by Shanghai Futures Exchange rose 8
percent to 94,174 tonnes from week earlier. COMEX Copper warehouse stocks stood even at 83,505 short tons as of Thursday.
US COPPER RALLY
ON LOOM ING FED
MOVE AFTER U.S.
DATA
Weekly Report Commodity11th Oct to 16th Oct 2010
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Weekly Commodity Report1st March to 6th Mar 2010
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COMEX Gold is in an upward trading channel. Last week COMEXGold sustained above the level of 1320$ 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$Major support in MCX Gold is 18900 and 18500Major resistance in MCX Gold is 19750 and 20200
Market Overview Strategy
Weekly Chart
Technical Analysis
GOLD
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
GOLD 1499 1446 1394 1369 1341 1317 1288 1236 1183
Weekly Pivot s
Weekly Report Commodity11th Oct to 16th Oct 2010
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Weekly Commodity Report1st March to 6th Mar 2010
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COMEX Silver is in a bullish phase. Last week COMEX Silversustained and closed above the crucial level of 2290$ 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.
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StrategyMarket Overview
Weekly Pivot s
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
SILVER 2797 2625 2453 2382 2281 2210 2109 1937 1765
SILVER
Weekly Chart
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Weekly Commodity Report1st March to 6th Mar 2010
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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.
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Market Overview Strategy
Weekly Pivot s
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
CRUDE 94.85 90.72 86.59 84.63 82.46 80.50 78.33 74.20 70.07
Weekly Chart
Weekly Report Commodity11th Oct to 16th Oct 2010
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Weekly Commodity Report1st March to 6th Mar 2010
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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.
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Market Overview Strategy
Weekly Pivot s
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
COPPER 421.10 405.40 389.70 383.60 374.0 367.90 358.30 342.60 326.90
Weekly Chart
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Weekly Commodity Report1st March to 6th Mar 2010
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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.
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Market Overview Strategy
Weekly Pivot s
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
NG 4.622 4.317 4.012 3.831 3.707 3.526 3.402 3.097 2.792
Weekly Chart
Weekly Report Commodity11th Oct to 16th Oct 2010
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Weekly Commodity Report1st March to 6th Mar 2010
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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.
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Market Overview Strategy
Weekly Pivot s
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
USD/INR 46.5400 45.8300 45.1200 44.7500 44.4100 44.0400 43.7000 42.9900 42.2800
Weekly Chart
Weekly Report Commodity11th Oct to 16th Oct 2010
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Weekly Pivots
R ES EA R C H
Weekly Commodity Report1st March to 6th Mar 2010
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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
Weekly Report Commodity11th Oct to 16th Oct 2010
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
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Weekly Commodity Report1st March to 6th Mar 2010
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Weekly Report Commodity11th Oct to 16th Oct 2010