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Weekly Newsletter Newsletter-Commodity Commodity 08/11/2010

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Weekly Newsletter Contents Market Wrap Technical Analysis Gold ( Comex) Silver ( Comex) Crude ( Nymex) Naturalgas ( Nymex) Copper (Comex) USD/INR

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MARKET WRAP Gold, silver hits record high Dollar firms, briefly capping commodities' gains U.S. crude oil futures rose for a fifth day on Friday Copper rose slightly on Friday

Gold touched an all time high this week of $1398 before a rebound in the dollar caused prices to retrace though the overall sentiment on this yellow precious metal is bullish and is seen as safe haven once again ahead of crucial G20 meet. Gold opened at $1363 and surged almost $33 to end the week at $1395.35. It touched the weekly low of $1325 as there was heavy liquidation ahead of fed reserve meet on quantitative easing. The fundamental factor for bullish run in Gold was Fed reserve to buy $600 bn T-bonds and imbalances in major economic currencies highlighted the Gold’s appeal as a safe haven. World’s largest gold backed ETF; New York’s SPDR gold ETF reported a slip in its holdings to 1,291.766 tonnes from 1,320.436 tonnes.

Copper breached its resistance line and touched an all time high of $398.97. Copper breached its earlier high of $388.63 and ended the week at $397.15. It opened the week at $376.93 and gained almost $20. Copper rallied this week as it was expected that China’s copper production will likely rise 7.70% to 4.90 million metrics tonnes in 2011 complimented by Dollar’s weakness ahead of Fed reserve meet though copper gains were capped by profit booking as Dollar rebounded and upbeat US Non-farm employment change. Another factor for copper was negotiations talks at one of the biggest copper mines of Callahuasi. Copper stocks at LME monitored warehouses fell 875 metric tonnes to 3, 66,075 metric tonnes.

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TECHNICAL VIEW GOLD WEEKLY PIVOT SCRIPT GOLD

R4 1590

R3 1518

R2 1445

R1 1419

P 1372

S1 1346

S2 1299

S3 1226

S4 1154

OUTLOOK Trend:- Bullish 1400,1445$ Resistance:- 1400 Support:- 1374,1343 1343$ Strategy:- Buy on dips GOLD WEEKLY

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SILVER WEEKLY PIVOT SCRIPT SILVER

R4 34.85

R3 31.85

R2 28.85

R1 27.78

P 25.85

S1 24.78

S2 22.85

S3 19.85

S4 16.85

OUTLOOK Trend:- Bullish Resistance:- 26.955,28.85$ Support:- 25.85,24.7 24.70$ Strategy:- Buy on dips SILVER WEEKLY

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CRUDE WEEKLY PIVOT SCRIPT CRUDE

R4 102.2

R3 96.6

R2 90.9

R1 89.0

P 85.3

S1 83.3

S2 79.6

S3 74.0

S4 68.3

OUTLOOK Trend:- Consolidate Resistance:- 89.70 89.70,91.90$ Support:- 84.1079. 79.80$ Strategy:- Buy on dips CRUDE WEEKLY

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NATURALGAS WEEKLY PIVOT SCRIPT NG

R4 5.29

R3 4.84

R2 4.40

R1 4.19

P 3.96

S1 3.75

S2 3.52

S3 3.08

S4 2.64

OUTLOOK Trend:- Consolidate Resistance:- 4.140,4.480 4.140,4.480$ Support:- 3.760,3.25 3.250$ Strategy:- Buy on dips NATURALGAS WEEKLY

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COPPER WEEKLY PIVOT SCRIPT COPPER

R4 461.9

R3 438.1

R2 414.3

R1 405.7

P 390.4

S1 381.9

S2 366.6

S3 342.7

S4 318.9

OUTLOOK Trend:- Consolidate Resistance:- 397,414 Support:- 382,365 82,365 Strategy:- Buy on dips COPPER WEEKLY

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USD/INR WEEKLY PIVOT SCRIPT INR

R4 45.84

R3 45.30

R2 44.76

R1 44.56

P 44.22

S1 44.02

S2 43.68

S3 43.14

S4 42.60

OUTLOOK Trend:- Consolidate Resistance:- 44.85, 44.85,45.70 Support:- 43.90,43.25 ,43.25 Strategy:- Buy on dips USD/INR WEEKLY

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