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Daily Newsletter Newsletter-Commodity 12/07/2011

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MARKET WRAP Gold off highs as risk aversion accelerates Gold ETF holdings rise for 4th week Euro fell by more than 1 percent Copper falls on Italy debt worries Aluminium falls below 200 day moving average Gold rose for a sixth day on Monday in its longest stretch of gains since March, driven by investor concerns over the potential spread of the euro zone debt crisis. The euro fell by more than 1 percent against the dollar, which hit two-week highs against a basket of currencies. Copper fell on Monday as concerns over Italy's sovereign debt curtailed appetite for risky assets, but a series of strikes in producer countries highlighted supply constraints and lent support to prices. Oil fell on Monday in choppy trading as concerns about a widening euro zone debt crisis and a drop in Chinese crude imports rekindled concerns about a demand slowdown.

ECONOMIC CALENDAR Date

Time

Tue 11:00am Jul 12 11:30am

Currency

Economic Data

Forecast Previous

EUR

French CPI m/m

0.1%

0.1%

EUR

German Final CPI m/m

0.1%

0.1%

Day 2

EUR

ECOFIN Meetings

6:00pm

USD

Trade Balance

-44.1B

-43.7B

7:30pm

USD

IBD/TIPP Economic Optimism

45.7

44.6

11:30pm

USD

FOMC Meeting Minutes

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TECHNICAL VIEW GOLD(AUG) Trend Strategy

• Consolidate • Buy on dips

SILVER(SEP SEP) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 22750 • R1 - 22570

Resistance

• R2 - 56800 • R1 - 55250

support

• S1 - 22280 • S2 - 21970

support

• S1 - 53580 • S2 - 52300

COPPER(AUG)) Trend Strategy

• Consolidate • Buy on dips

CRUDE(JULY JULY) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 447 • R1 - 436

Resistance

• R2 - 4350 • R1 - 4270

support

• S1 - 427 • S2 - 419

support

• S1 - 4160 • S2 - 4070

NATURALGAS(JULY JULY) Trend Strategy

• Consolidate • Sell on high

LEAD(JULY JULY) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 203 •R1 - 194

Resistance

• R2 - 124.20 • R1 - 120.85

support

•S1 - 185 •S2 - 177

support

• S1 - 118.30 •S2 - 115.50

ZINC(JULY) Trend Strategy

• Consolidate • Sell on high

NICKEL(JULY) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 106.5 •R1 - 104.7

Resistance

•R2 - 1083 •R1 - 1058

support

•S1 - 102.2 •S2 - 98.7

support

•S1 - 1019 •S2 - 983

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ALUMINIUM(JULY JULY) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 114.8 •R1 - 111.3

support

•S1 - 108.8 •S2 - 106.5

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