Bullion Commodity Reports for the Week(27th September - 1st October '10)

8/8/2019 Bullion Commodity Reports for the Week(27th September - 1st October '10)

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27th Sep 2010 to 02nd Oct 2010

Base M et als Upt rend Resumes On Weak Dol lar !

WEEKLYCOMMODITY REPORT

www.capitalvia.com

R ES EA R C H

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ap

italvia.c

om


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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

Date Time Currency Economic Data Forecast Previous

ECONOMIC DATA

6:30pm

7:30pm

7:30pm

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

CB Consumer Confidence

Richmond Manufacturing Index

USD

USD

USD

TueSep 28

Weekly Report Commodity27th Sep to 02nd Oct 2010

www.capitalvia.com | 2

8:00pm

10:45pm

Crude Oil Inventories

FOMC Member Rosengren Speaks

USD

USD

WedSep 29

6:00pm

6:00pm

6:00pm

7:15pm

7:30pm

8:00pm

Unemployment Claims

Final GDP q/q

Final GDP Price Index q/q

Chicago PMI

Fed Chairman Bernanke Testifies

Natural Gas Storage

USD

USD

USD

USD

USD

USD

ThuSep 30

1.6%

1.9%

56.7

73B

465K

1.0M

4.2%

53.5

11

457K

1.6%

1.9%

56.0

3.1%

52.5

6

12:00am

6:00pm

6:00pm

6:00pm

6:00pm

7:25pm

7:25pm

7:30pm

7:30pm

7:30pm

All Day

Fed Chairman Bernanke Speaks

Core PCE Price Index m/m

Personal Spending m/m

FOMC Member Dudley Speaks

Personal Income m/m

Revised UoM Consumer Sentiment

Revised UoM Inflation Expectations

ISM Manufacturing PMI

Construction Spending m/m

ISM Manufacturing Prices

Total Vehicle Sales

USD

USD

USD

USD

USD

USD

USD

USD

USD

USD

USD

FriOct 1

0.1%

0.4%

0.2%

66.6

56.3

-1.0%

61.5

11.5M

2.2%

0.1%

0.4%

0.3%

67.1

54.6

-0.4%

59.3

11.6M


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R ES EA R C H




U.S. Gold futures ended higher on Friday, hitt ing a record above $1,300 an ounce on worries over economic

uncertainty after the Federal Reserve raised expectations of new measures to stimulate growth. COMEX

December Gold futures sett led up $1.80 at $1,298.10 an ounce on the COMEX division of the NYMEX. Trading

ranged from $1,290.60 to $1,301.60, a record high. Gold benefited from renewed worries about inflation

after. Gold's att raction as a hedge against inf lation increased after data showed new orders for a wide range of

long-lasting U.S. manufactured goods rose in August and business spending plans rebounded strongly. Gold

has risen more than 4 percent this month and hit record highs in six of t he last seven sessions. COMEX estimated f inal gold volume at 105,351

lots, in line with its 30-day average. Spot Gold fetched $1,295.60 an ounce, up from the previous session' s last trade at $1,293.50 an ounce.

U.S. GOLD HITS

RECORD ABOVE

$1,300 AN OUNCE

Fundamental Market Overview

U.S. Crude oil prices rose on Friday, posting their biggest weekly gain in two months as the dollar slid and

investors remained expectant that the Federal Reserve could pump billions of dollars into the U.S. financial

system to support a faltering economic recovery. Also boosting oil was a surprise rise in Germany's Ifo index of

business sentiment and rallying U.S. equit ies markets as investors latched on to a rebound in business

spending and steady August home sales. A move by the Fed to pump more dollars into the economy could

depress the greenback's value and a weak dollar can lift dollar-denominated oil prices as it raises the

purchasing power of consumers with other currencies and lessens the value of greenbacks paid to producers. On the New York Mercantile

Exchange, November Crude rose $1.31, or 1.74 percent, to sett le at $76.49 a barrel, trading f rom $74.66 to $76.68, highest intraday price

since $77.99 was struck on Sept. 14. For the week, U.S. Crude futures rose $2.83, or 3.84 percent, the biggest percentage rise since jumped

$2.97, or 3.91 percent in the week to July 23. More European oil companies are trimming their purchases of Iranian oil, citing the increasingdifficulty of financial transactions with the Islamic republic.

CRUDE ENDS UP

AS DOLLAR DROPS,

EQUITIES RISE

U.S. Copper futures charged to a new five-month top above $3.60 per lb on Friday, with the bullish prospect

of a cheap dollar and improved demand outlook through the end of the year powering the recent price

momentum. Copper for December delivery finished up 2.75 cents at $3.6180 per lb on the COMEX metals

division of the New York Mercantile Exchange. Ranged from $3.5655 to $3.6360, a new high for the fourth

position futures contract dating back to mid April. COMEX estimated final Copper futures volume at 24,441

lots, in line with Thursday's count of 24,791 lots. Open interest grew by 23 lots to 145,665 contracts as of

Sept. 23. Copper rally driven by weak dollar outlook and improved demand prospects after U.S. Federal Reserve this week indicated it may

consider further quantitative easing. Dollar fell against basket of currencies to it s lowest level since February as stronger-than-expected data in

Europe and a drop in U.S. durable goods orders hurt demand for the greenback. Flat new U.S. home sales for August reinforced view that the

Fed may provide additional monetary easing to help the economy. Copper buoyed by growing supply tightness reflected in dwindling

exchange-monitored warehouse stock levels. London Metal Exchange (LME) Copper warehouse stocks went up by 100 tonnes to 380,225

tonnes, but have dropped by around one third since February, when stocks stood at 555,075 tonnes, the highest level since October 2003.

COMEX Copper warehouse stocks fell by 317 short tons to 87,245 short tons as of Thursday. LME Copper ended up $60 at $7,945 a tonne,

after hitt ing a new five-month peak at $7,990 a tonne.

US COPPER ENDS AT

5-MTH TOP ON

DOLLAR, DEMAND

VIEW



4/11

R ES EA R C H




COMEX Gold is in an upward phase. Last week COMEX Goldsustained above level of 1270$ and made a high of 1301$ anounce. In the coming week 1260$ will act as a good support inCOMEX Gold, if COMEX Gold sustain above 1260$ an ounce thenabove 1305$ an ounce it can touch the level of 1320$ an ounce

and below 1260$ if COMEX Gold sustains then it can slightlycorrect and test t he level of 1240$ an ounce.

For the next week traders can use buy on lower level strategy ifCOMEX Gold sustains above 1260$ an ounce, above 1305$ it canfurther go upward and can test t he level of 1320$ an ounce. Tradeby keeping the strict stop losses.Major support for COMEX Gold in the coming week would be

1260$ and 1210$.Major resistance for COMEX Gold in the coming week would be1310$ and 1335$Major support in MCX Gold is 18500 and 17900Major resistance in MCX Gold is 19300 and 19550

Market Overview Strategy

Weekly Chart

Technical Analysis

GOLD

SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4

GOLD 1380 1350 1320 1309 1290 1279 1260 1231 1201

Weekly Pivot s



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R ES EA R C H



COMEX Silver is in an upward phase. Last week COMEX Silvermade a new lifetime high and made a close near to its high of2149$ an ounce. For the upcoming week 2100$ and 1940$ arethe crucial supports and 2180 $ is a crucial resistance in COMEXSilver.

For the next week traders can use buy on lower level strategy ifSilver sustains above the level of 2100$ an ounce, and above2150$ an ounce it can further go upward. Trade by keeping theproper stop losses.


StrategyMarket Overview

Weekly Pivot s


SILVER 2405 2308 2210 2175 2113 2077 2015 1918 1820

SILVER

Weekly Chart



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R ES EA R C H



CRUDE OIL

NYMEX Crude is consolidating on charts. Last week Crude Oilsustained on its week high and made a close near to its high. Forthe coming week 70$ will act as major support and 80$ a barrelwill be a major resistance.

For the next week traders can use sell on higher level strategy, ifNYMEX Crude does not break the level of 78$ a barrel then belowthe level of 70$ a barrel then it might test the level of 67$ a barrel.Trade by keeping the proper stop loss.



Weekly Pivot s


CRUDE 85.57 82.21 78.85 77.67 75.49 74.31 72.13 68.77 65.41

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. If next week COMEXCopper sustains above the level of 355 then above the level of 368Copper can test the level of 380. In MCX Copper above 372Copper can test the level of 383 if it does not break the level of 347

on the downside.

For the upcoming week 368 and 391 will act as major resistanceand 334 and 316 w ill act as major supports in COMEX Copper. ForMCX Copper major resistance would be 372 and 388 andsupports would be found at 347 and 328.



Weekly Pivot s


COPPER 406.60 390.25 373.90 367.85 357.55 351.50 341.20 324.85 308.50

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. If next week Natural Gassustains below the level of 3.690$ then below the level of 3.650$Natural Gas can test the level of 3.500 and above 4.150$ NaturalGas can slight ly go up and test the level of 4.375$ and 4.540$. In

MCX Natural Gas below 170 Natural Gas can test the level of 160if it does not break the level of 206 on the upside.

For the upcoming week 3.650$ and 3.500$ will act as majorsupports and 4.375$ and 5.022$ will act as major resistance in USNatural Gas. For MCX Natural Gas major resistance would be 206and 233 and support s would be found at 170 and 150.



Weekly Pivot s


NG 4.921 4.594 4.267 4.074 3.940 3.747 3.613 3.286 2.959

Weekly Chart



9/11


Weekly Pivots

R ES EA R C H



GOLD

COPPER

NATURAL GAS

ZINC

ALUMINUM

19603.33 19366.33 19250.67 19129.33 19013.67

383.95 371.65 367.35 359.35 355.05

204.27 191.57 183.13 178.87 170.43

110.22 105.17 103.18 100.12 98.13

114.17 108.07 105.93 101.97 99.83

Scripts R3 R2 R1 PP S1

SILVER 34314.33 33379.33 33063.67 32444.33 32128.67

CRUDE 3749.67 3607.67 3543.33 3465.67 3401.33

LEAD 114.38 107.83 105.52 101.28 98.97

NICKELNICKEL 1169.30 1107.10 1076.00 1044.90 1013.80


18892.33

347.05

166.17

95.07

95.87

S2

31509.33

3323.67

94.73

982.70

18655.33

334.75

153.47

90.02

89.77

S3

30574.33

3181.67

88.18

920.50


10/11


R ES EA R C H


R ES EA R C H

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11/11

Bullion Commodity Reports for the Week(27th September - 1st October '10)

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Transcript of Bullion Commodity Reports for the Week(27th September - 1st October '10)