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Daily Newsletter Newsletter-Commodity 26/08/2011

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MARKET WRAP Gold tumbled nearly 3 percent on Thursday Gold slips towards $1,700/oz after CME margin hike Copper climbed on Thursday up almost 2% Brent crude oil rose to $111 a barrel on Thursday Gold tumbled nearly 3 percent on Thursday to more than $200 below Tuesday's record highs, as investors cashed in scorching gains in the precious metal after the CME Group hiked gold trading margins for a second time this month. Copper climbed on Thursday underpinned by expectations of returning demand from top consumer China, but caution over measures that may be unveiled by the U.S. monetary authorities in Wyoming this week kept gains in check. Brent crude oil rose to $111 a barrel on Thursday, supported by a drop in U.S. inventories and investor hopes that the Federal Reserve may announce stimulus measures for the U.S. economy on Friday.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Forecast Previous

Fri 11:30am Aug 26 1:30pm

EUR

German Import Prices m/m

0.2%

-0.6%

EUR

M3 Money Supply y/y

2.2%

2.1%

6:00pm

USD

Prelim GDP q/q

1.1%

1.3%

6:00pm

USD

Prelim GDP Price Index q/q

2.3%

2.3%

7:25pm

USD

Revised UoM Consumer Sentiment

56.2

54.9

7:25pm

USD

Revised UoM Inflation Expectations

7:30pm

USD

Fed Chairman Bernanke Speaks

Day 2

ALL

Jackson Hole Symposium

3.4%

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TECHNICAL VIEW GOLD(OCT) Trend Strategy

• Consolidate • Buy on dips

SILVER(SEP SEP) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 26750 • R1 - 26280

Resistance

• R2 - 63300 • R1 - 61900

support

• S1 - 25650 • S2 - 25180

support

• S1 - 59850 • S2 - 58500

COPPER(AUG)) Trend Strategy

• Consolidate • Buy on dips

CRUDE(SEP SEP) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 425 • R1 - 417

Resistance

• R2 - 4115 • R1 - 4035

support

• S1 - 407 • S2 - 398

support

• S1 - 3890 • S2 - 3770

NATURALGAS(AUG AUG) Trend Strategy

• Consolidate • Sell on high

LEAD(AUG AUG) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 193 •R1 - 185

Resistance

• R2 - 114.5 • R1 - 111.8

support

•S1 -175 •S2 -167

support

• S1 - 108.8 •S2 - 105.5

ZINC(AUG) Trend Strategy Resistance support

• Consolidate • Buy on dips •R2 - 105.5 •R1 - 102.4 •S1 - 98.8 •S2 - 96.5

NICKEL(AUG) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 1013 •R1 - 977

support

•S1 - 928 •S2 - 887

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ALUMINIUM(AUG AUG) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 110.5 •R1 - 108.3

support

•S1 - 105.8 •S2 - 102.5

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