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Daily Newsletter Newsletter-Commodity 07/04/2011

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MARKET WRAP Gold tops $1,460/oz ahead of euro zone rates meeting Silver hits 31-year peaks Copper rose to a one-week peak on Wednesday Aluminium rises to highest since Sept 2008 Lead hits new multi week high

Gold hit a record high for a second straight session on Wednesday, powered by investor demand for safe-haven assets and a slide in the dollar in anticipation of a euro zone rate hike, while silver hit fresh 31-year peaks. Oil prices hit fresh peaks on Wednesday, rising to their highest since August 2008, buoyed by unrest in the Middle East and North Africa and dollar weakness ahead of an expected European Central Bank interest rate rise. Copper rose to its highest in about a week on Wednesday, as the euro scaled multi-month highs against the dollar and on prospects of better commodity imports data from top consumer China.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Thu Apr 7

12:15pm

EUR

French Trade Balance

Day 1

EUR

ECOFIN Meetings

5:15pm

EUR

Minimum Bid Rate

6:00pm

EUR

ECB Press Conference

6:00pm

USD

8:00pm

USD

Forecast Previous -5.6B

-5.9B

1.25%

1.00%

Unemployment Claims

385K

388K

Natural Gas Storage

-51B

12B

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TECHNICAL VIEW GOLD(JUNE) Trend Strategy

• Consolidate • Buy on dips

SILVER(MAY MAY) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 -21450 • R1 -21270

Resistance

• R2 - 59500 • R1 - 58550

support

• S1 -21030 • S2 -20750

support

• S1 - 56850 • S2 - 55600

COPPER(APR) Trend Strategy

• Consolidate • Buy on dips

CRUDE(APR)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 441 • R1 - 433

Resistance

• R2 - 4915 • R1 - 4830

support

• S1 - 419 • S2 - 411

support

• S1 - 4750 • S2 - 4670

NATURALGAS(APR) Trend Strategy

• Consolidate • Sell on high

LEAD(APR)) Trend Strategy

• Bullish • Buy on dips

Resistance

•R2 - 202 •R1 - 191

Resistance

• R2 - 130.5 • R1 - 127.8

support

•S1 - 181 •S2 - 173

support

• S1 - 123.7 •S2 - 120.5

ZINC(APR) Trend Strategy

• Consolidate • Buy on dips

NICKEL(APR R) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 112.5 •R1 - 109.2

Resistance

•R2 - 1227 •R1 - 1193

support

•S1 - 105.5 •S2 - 102.3

support

•S1 - 1155 •S2 - 1123

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ALUMINIUM(APR) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 121.5 •R1 - 118.6

support

•S1 - 116.3 •S2 - 113.5

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