WEEKLY COMMODITY REPORT 4TH FEBRUARY 2013
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HEADLINES Gold lifted by US payrolls data, posts weekly gain. Gold rose in unison with equities and commodities on, notching a weekly gain, after U.S. nonfarm payrolls
TRADING TIP:
Sell Crude Oil Feb Below 5140 TGTS-5100/5030 SL-5182
data showed modest job growth in January. Bullion prices climbed after the Labor Department also said U.S. job gains in the prior two months were bigger than initially reported, supporting views the economy's sluggish recovery was on track despite a surprise contraction in output in the final three months of 2012. Copper Set for Biggest Weekly Advance in Four on Chinese Revival. Copper rose in London, set for the largest weekly gain in four, amid indications economies are reviving in
Buy Nickel Feb Above 995 TGTS-1010/1030 SL- 980
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China and the U.S., the world’s two biggest users of the metal. Chinese manufacturing expanded for a fourth month in January, a purchasing managers’ index released by the country’s statistics bureau and its logistics federation showed. A report due at 1:30 p.m. London time will show hiring in the U.S. sped up last month to 165,000 workers, the most since August, according to a Bloomberg survey of economists.
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MCX WEEKLY GOLD CHART
ANALYSIS OPEN: 30377 HIGH: 30427 LOW: 29794 CLOSE: 30035
GOLD LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
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MCX WEEKLY SILVER CHART
ANALYSIS OPEN: 58151 HIGH: 59139 LOW: 57472 CLOSE: 58418
SILVER LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
MCX WEEKLY COPPER CHART
ANALYSIS OPEN: 436.35 HIGH: 444.90 LOW: 435.15 CLOSE: 443.70
COPPER LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
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MCX WEEKLY CRUDE OIL CHART
ANALYSIS OPEN: 5190 HIGH: 5248 LOW: 5140 CLOSE: 5187
CRUDE OIL LOOKS SIDEWAYS TREND: CONSOLIDATE STRATEGY: SELL ON RISE
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COMEX WEEKLY SILVER CHART
ANALYSIS OPEN: 31.14 HIGH: 32.26 LOW: 30.72 CLOSE: 31.80
COMEX SILVER LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
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COMEX WEEKLY GOLD CHART
ANALYSIS OPEN: 1658.70 HIGH: 1683.66 LOW: 1651.67 CLOSE: 1667.58
COMEX GOLD LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
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