WEEKLY COMMODITY REPORT 17TH DECEMBER 2012
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HEADLINES Moody’s global base-metals outlook remains negative Moody’s Investors Service believes that demand and price expectations for the global base-metals industry –
TRADING TIP:
mainly aluminum, copper, nickel and zinc — will remain ―muted‖ over the next 12 to 18 months, and said
Buy Silver Mar
in a report that its outlook for the industry is still
Above 61350
Recession in Europe, sluggish economic growth and
negative. Freeport-McMoRanCopper mine in Peru anxiety about the fiscal cliff in the U.S., and slower
TGTS-61600/61900 SL-61100
growth in China all weigh on the industry as we head into the new year,‖ said Carol Cowan, Moody’s vice president and author of the report, ―Base Metals Industry Faces Challenging Road in 2013. China is a key driver of metal consumption and its appetite for
Sell Copper Feb Below 445.40 TGTS-442/437 SL- 448.40
metals remains the wild card in the direction of metal prices in 2013.‖ Crude Oil Settles Higher On Economic Data, Gains 0.9% For Week. U.S. crude oil settled higher Friday, on some upbeat macroeconomic data out of China and the U.S., with supply concerns after the conflict in Syria further escalated.
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MCX WEEKLY GOLD CHART
ANALYSIS OPEN: 31348 HIGH: 31559 LOW: 31091 CLOSE: 31208
GOLD LOOKS UPWARD TREND: BULLISH STRATEGY: BUY ON DIPS
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MCX WEEKLY SILVER CHART
ANALYSIS OPEN: 62658 HIGH: 63440 LOW: 61223 CLOSE: 61347
SILVER LOOKS UPWARD TREND: BULLISH STRATEGY: BUY ON DIPS
MCX WEEKLY COPPER CHART
ANALYSIS OPEN: 444.80 HIGH: 450.45 LOW: 443.10 CLOSE: 445.30
COPPER LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
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MCX WEEKLY CRUDE OIL CHART
ANALYSIS OPEN: 4702 HIGH: 4748 LOW: 4652 CLOSE: 4728
CRUDE OIL LOOKS UPWARD TREND: BULLISH STRATEGY: BUY ON DIPS
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COMEX WEEKLY SILVER CHART
ANALYSIS OPEN: 33.04 HIGH: 33.77 LOW: 32.16 CLOSE: 32.17
COMEX SILVER LOOKS UPWARD TREND: BULLISH STRATEGY: BUY ON DIPS
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COMEX WEEKLY GOLD CHART
ANALYSIS OPEN: 1704.25 HIGH: 1723.20 LOW: 1689.23 CLOSE: 1694.25
COMEX GOLD LOOKS UPWARD TREND: BULLISH STRATEGY: BUY ON DIPS
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