Daily Newsletter Newsletter-Commodity 10/11/2010
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MARKET WRAP Gold hits new record as euro zone fears resurface Silver hits record high of 28.90$ Copper hit its highest price in more than two years Oil scales new two-year high Lead trading near 3 weeks high
Gold hit record highs for a fourth day in a row on Tuesday, as fresh concern over the debt burdens of several euro zone member countries prompted safe-haven buying. Silver touched $28.90 an ounce, the highest since March 1980. Copper hit its highest price in more than two years on Tuesday, within touching distance of an all-time high, as supply concerns coupled with improving fourth-quarter demand underpinned industrial metals. Oil resumed gains to hit a fresh two-year high above $87 on Tuesday, erasing earlier losses.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Wed Nov 10
7:00pm
USD
Trade Balance
7:00pm
USD
7:00pm
Forecast Previous -45.0B
-46.3B
Unemployment Claims
451K
457K
USD
Import Prices m/m
1.1%
-0.3%
9:00pm
USD
Crude Oil Inventories
1.1M
2.0M
10:30pm
USD
Natural Gas Storage
24B
67B
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TECHNICAL GOLD(DEC) Trend Strategy
• Bullish • Buy on dips
COPPER(NOV)
NATURALGAS(NOV)
ZINC(NOV)
info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(NOV) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 112.7 •R1 - 109.8
support
•S1 - 107.7 •S2 - 105.3
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