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COMEX

REPORT

REPORT 19 MARCH 2013 th


NEWS RADAR

8

Gold futures inched lower on Thursday after the dollar strengthened following the release of better-than-expected US data; however, the dip has been fairly modest indicating that another attempt at $1,600 an ounce might not be far off.Gold for April delivery on the Comex division of the New York Mercantile Exchange was last down $4.30 at $1,584.10 an ounce. Trade has ranged from $1,575.20 to $1,588.50.In data, initial claims for unemployment benefits declined by 10,000 last week to a seasonally adjusted 332,000, hitting a five-year low and easily beating the 352,000 forecast.“Once again the better data knocked metals lower as the dollar picked-up, so again we wait to see if they can bounce back. Generally the better data should be good for industrial metals and it could be a headwind for bullion,” William Adams of FastMarkets said.

TRADING TIPS  BUY GOLD AROUND 1598 TGS 1604/1610 SL 1592  BUY SILVER AROUND 28.50 TGS 28.70/28.90 SL 28.30  SELL COPPER AROUND

EXPERT OPINION  GOLD LOOKS BULLISH  SILVER LOOKS BULLISH  CRUDE OIL LOOKS BEARISH 

COPPER LOOKS BEARISH

 NGAS LOOKS BULLISH

3.4505 TGS 3.4305/3.4105

 LEAD LOOKS BEARISH

SL 3.4705

 NICKEL LOOKS BEARISH

 SELL CRUDE AROUND 92.70 TGS 92.50/92.30 SL 93.00

 ALUMINIUM LOOKS BEARSIH  ZINC LOOKS BEARISH


GOLD HOURLY CHART

S1

S2

R1

R2

1596

1590

1608

1614

GOLD LOOKS BULLISH BUY AROUND 1598.00 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 1604.00 LEVEL AND MAINTAINING SL OF 1592.00


SILVER HOURLY CHART

S1

S2

R1

R2

28.60

28.40

29.00

29.20

SILVER LOOKS BULLISH BUY AROUND 28.50 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 28.70 LEVEL AND MAINTAINING SL OF 28.30


COPPER HOURLY CHART

S1

S2

R1

R2

3.4000

3.3800

3.4400

3.4600

COPPER LOOKS BEARISH SELL BELOW 3.4505 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 3.4305 LEVEL AND MAINTAINING SL OF 3.4105 0


CRUDE OIL HOURLY CHART

S1 92.30

S2 92.10

R1 91.90

R2 91.70

CRUDE LOOKS BULLISH BUY AROUND 92.70 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 92.50 LEVEL AND MAINTAINING SL OF 93.00


MARKET STATISTICS OPEN

HIGH

LOW

CLOSE

GOLD

1590.30

1598.30

1588.28

1591.82

SILVER

28.80

29.00

28.70

28.75

CRUDE

93.23

93.81

92.99

93.56

COPPER

3.5255

3.5445

3.5005

3.5018

NGAS

3.826

3.919

3.821

3.855

ALUMINIUM

1977.00

1986.38

1960.01

1963.38

LEAD

2247.25

2256.88

2218.38

2221.50

NICKEL

17200.00

17332.00

16886.50

16922.00

ECONOMIC CALENDAR DATE

CURRENCY

Mar19

EUR

BOE Inflation Letter

Mar19

USD

Building Permits

FORECAST

PREVIOUS

0.93M

0.90M


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