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Daily Newsletter-Commodity 16/09/2011

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MARKET WRAP Gold fell to its lowest since late August on Thursday Silver slides almost 2% below 40.2$ Copper rebounded on Thursday boosted by a weaker dollar The euro jumped against the dollar Crude remain flat , trading near 89$ Gold fell to its lowest since late August on Thursday after signs that euro zone leaders are committed to keeping Greece in the euro ignited investor appetite for riskier assets at the expense of perceived safe havens, including German debt. Copper rebounded on Thursday boosted by a weaker dollar after reports of fresh liquidity injections by central banks in the fourth quarter but a faltering U.S. economy led to worries over the strength of demand. Brent crude jumped more than 2 percent on Thursday after major central banks moved to boost European bank funding and regional leaders offered strong support for Greece.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Forecast Previous

Fri Sep 16

1:30pm

EUR

Current Account

-5.6B

-7.4B

1:30pm

EUR

Italian Trade Balance

-1.97B

-1.83B

Day 1

EUR

ECOFIN Meetings

2:30pm

EUR

Trade Balance

1.7B

-1.6B

6:30pm

USD

TIC Long-Term Purchases

27.3B

3.7B

7:25pm

USD

Prelim UoM Consumer Sentiment

56.4

55.7

7:25pm

USD

Prelim UoM Inflation Expectations

3.5%

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TECHNICAL VIEW GOLD(OCT) Trend Strategy

• Consolidate • Buy on dips

SILVER(DEC) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 28250 • R1 - 27880

Resistance

• R2 - 65850 • R1 - 64770

support

• S1 - 27380 • S2 - 26850

support

• S1 - 62450 • S2 - 61200

COPPER(NOV) Trend Strategy

• Consolidate • Buy on dips

CRUDE(SEP) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 431 • R1 - 423

Resistance

• R2 - 4370 • R1 - 4285

support

• S1 - 409 • S2 - 401

support

• S1 - 4120 • S2 - 4040

NATURALGAS(SEP) Trend Strategy

• Consolidate • Sell on high

LEAD(SEP) Trend

Strategy

• Consolidate • Sell on high

Resistance

•R2 - 203 •R1 - 196

Resistance

• R2 - 119.5 • R1 - 116.7

support

•S1 -183 •S2 -175

support

• S1 - 112.8 •S2 - 108.5

ZINC(SEP) Trend Strategy

• Consolidate • Sell on high

NICKEL(SEP) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 106.5 •R1 - 104.7

Resistance

•R2 - 1075 •R1 - 1048

support

•S1 - 100.6 •S2 - 96.5

support

•S1 - 983 •S2 - 950

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ALUMINIUM(SEP) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 114.5 •R1 - 112.8

support

•S1 - 109.8 •S2 - 107.5

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