Daily Newsletter Newsletter-Commodity 28/09/2010
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MARKET WRAP Gold hits record at $1,300/oz Silver climbs to 30-year peak Oil hovered below $77 a barrel on Monday Dollar dives to a five-month low vs euro Copper dipped on Monday
Gold powered to a record high at $1,300 an ounce on Monday, with investors pouring more cash into the market on global economic health worries and the possibility of further quantitative easing to stimulate growth. Copper dipped on Monday as limited Asian buying discouraged investors from bidding the metal up to $8,000 despite falling inventories and dim supply growth prospects.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Tue Sep 28
11:30am
EUR
GfK German Consumer Climate
All Day
EUR
12:15pm
EUR
12:15pm
EUR
6:30pm
Forecast Previous 4.3
4.1
German Prelim CPI m/m
-0.2%
0.0%
-0.1%
USD
French Consumer Spending m/m French Consumer Spending m/m S&P/CS Composite-20 HPI y/y
7:30pm
USD
CB Consumer Confidence
7:30pm
USD
Richmond Manufacturing Index
0.5%
-1.4%
3.1%
4.2%
52.5
53.5
6
11
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Bullish • Buy on dips
SILVER(DEC DEC) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 -19480 • R1 -19250
Resistance
• R2 - 33550 • R1 - 32850
support
• S1 -19040 • S2 -18850
support
• S1 - 32150 • S2 - 31380
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(OCT)) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 372 • R1 - 364
Resistance
• R2 - 3580 • R1 - 3510
support
• S1 - 357 • S2 - 348
support
• S1 - 3410 • S2 - 3330
NATURALGAS(SEP) Trend Strategy
• Consolidate • Sell on high
LEAD(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 181 •R1 - 174
Resistance
• R2 - 106.3 • R1 - 102.5
support
•S1 - 165 •S2 - 157
support
• S1 - 99.5 •S2 - 96.8
ZINC(SEP) Trend Strategy
• Consolidate • Sell on higher
NICKEL(SEP) NICKEL(SEP Trend Strategy
• Consolidate • Sell on dips
Resistance
•R2 - 103.5 •R1 - 100.3
Resistance
•R2 - 1083 •R1 - 1053
support
•S1 - 97.5 •S2 - 94.7
support
•S1 - 1025 •S2 - 995
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ALUMINIUM(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 105.5 •R1 - 103.2
support
•S1 - 101.5 •S2 - 98.6
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