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COMEX

REPORT

REPORT 7 FEBRUARY 2013 tH


NEWS RADAR Gold futures started New York trading with a positive tilt on Tuesday after the euro managed to claw back some of the significant losses accrued during yesterday’s session.Still, the yellow metal still faces stiff resistance on the climb to $1,700 per ounce.Gold for April delivery on the Comex division of the New York Mercantile Exchange was last up $6.70 at $1,683.10 per ounce.“Gold remains range-bound,” Standard Bank said in a note. “The metal seems caught between the real economy and the monetary economy. Growing economic confidence is capping upside for the metal, while monetary easing is adding support.”Recent indicators have pointed to an US economy on the mend, it argued. This perceived improvement led to the strong rally in equities in January that dampened safe-haven demand, which had been such a major factor in the bull market over the past five years.

TRADING TIPS  SELL GOLD BELOW 1666 TGS 1660/1654 SL 1672  SELL SILVER BELOW 31.59 TGS 31.34/31.09 SL 31.84  SELL COPPER BELOW 3.7280

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

COPPER LOOKS BEARISH

 NGAS LOOKS BULLISH

TGS 3.7080/3.6880 SL

 LEAD LOOKS BEARISH

3.7680

 NICKEL LOOKS BEARISH

 SELL CRUDE BELOW 95.85 TGS 95.45/95.05 SL 96.25

 ALUMINIUM LOOKS BEARISH  ZINC LOOKS BEARISH


GOLD HOURLY CHART

S1

S2

R1

R2

1662

1656

1674

1680

GOLD LOOKS BEARISH SELL AROUND 1666.00 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 1660.00 LEVEL AND MAINTAINING SL OF 1672.00


SILVER HOURLY CHART

S1

S2

R1

R2

31.30

31.00

31.90

32.20

SILVER LOOKS BEARISH SELL AROUND 31.59 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 31.34 LEVEL AND MAINTAINING SL OF 31.84


COPPER HOURLY CHART

S1

S2

R1

R2

3.7130

3.6930

3.7530

3.7730

COPPER LOOKS BEARISH SELL AROUND 3.7280 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 3.7080 LEVEL AND MAINTAINING SL OF 3.7480 0


CRUDE OIL HOURLY CHART

S1 95.60

S2 95.20

R1 96.40

R2 96.80

CRUDE LOOKS BEARISH SELL AROUND 95.85 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 95.45 LEVEL AND MAINTAINING SL OF 96.25


MARKET STATISTICS OPEN

HIGH

LOW

CLOSE

GOLD

1674.05

1684.70

1666.46

1672.07

SILVER

31.73

32.08

31.59

31.77

CRUDE

96.11

97.05

95.89

96.64

COPPER

3.7538

3.7720

3.7460

3.7638

NGAS

3.325

3.423

3.314

3.416

ALUMINIUM

2111.38

2119.63

2098.38

2115.01

LEAD

2447.88

2467.88

2433.00

2460.88

NICKEL

18590.00

18750.00

18474.50

18731.50

ECONOMIC CALENDAR

DATE

CURRENCY

Feb 7

EUR

EU Economic Summit

Feb 7

EUR

ECB Press Conference

Feb 7

USD

Unemployment Claims

FORECAST

PREVIOUS

361K

368K


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COMEX-REPORT-DAILY BY EPIC RESEARCH 7 FEB 2013  
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