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Daily Newsletter Newsletter-Commodity 02/05/2011

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MARKET WRAP Gold jumps 2 pct to set record high for third day Silver retreats after Thursday's record high Copper fell to a six-week low on Friday Copper down for 2nd straight month Oil prices pushed higher on Friday

Gold surged to a record high on Friday for the third straight day, as investors kept up a buying frenzy fueled by the outlook for low U.S. interest rates that has propelled bullion to its seventh consecutive weekly rise, its longest winning streak since 2007. Oil prices pushed higher on Friday, posting an eighth straight month of gains as the weaker dollar and turmoil in North Africa and the Middle East offset concerns about fuel demand and slowing U.S. economic growth.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Mon May 2

All Day

EUR

French Bank Holiday

All Day

EUR

Italian Bank Holiday

1:30pm

EUR

Final Manufacturing PMI

2:30pm

EUR

ECB President Trichet Speaks

7:30pm

USD

7:30pm 7:30pm

Forecast Previous

57.7

57.7

ISM Manufacturing PMI

59.9

61.2

USD

Construction Spending m/m

0.4%

-1.4%

USD

ISM Manufacturing Prices

83.3

85.0

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TECHNICAL VIEW GOLD(JUNE) Trend Strategy

• Bullish • Buy on dips

SILVER(JULY JULY) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 -23350 • R1 -22980

Resistance

• R2 - 74500 • R1 - 72350

support

• S1 -22680 • S2 -22350

support

• S1 - 70200 • S2 - 68650

COPPER(JUNE) Trend Strategy

• Consolidate • Buy on dips

CRUDE(MAY MAY) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 435 • R1 - 423

Resistance

• R2 - 5170 • R1 - 5090

support

• S1 - 411 • S2 - 402

support

• S1 - 4985 • S2 - 4910

NATURALGAS(MAY)) Trend Strategy

• Consolidate • Buy on dips

LEAD(MAY MAY) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 223 •R1 - 214

Resistance

• R2 - 117.5 • R1 - 114.7

support

•S1 - 202 •S2 - 193

support

• S1 - 110.8 •S2 - 108.5

ZINC(MAY) Trend Strategy

• Consolidate • Sell on high

NICKEL(MAY MAY) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 105.8 •R1 - 102.5

Resistance

•R2 - 1248 •R1 - 1217

support

•S1 - 98.7 •S2 - 95.5

support

•S1 - 1183 •S2 - 1148

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ALUMINIUM(MAY) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 125.7 •R1 - 123.8

support

•S1 - 121.3 •S2 - 119.5

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