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Weekly Newsletter Commodity
Newsletter-Commodity
25/04/2011

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Weekly Newsletter
Contents
Market Wrap
Technical Analysis
Gold ( Comex)
Silver ( Comex)
Crude ( Nymex)
Naturalgas ( Nymex)
Copper (Comex)
USD/INR

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MARKET WRAP
Gold steady below record, weak dollar supports

Spot silver rises to $46.64

LME market shut for holidays on April 22, 25

China's refined copper imports jumped 21.5 percent

Copper edges up on weekly basis

Gold ended up nearly 1.5% making a fresh all time high of $1512.59 to end the week at
$1507.30 due to weaker dollar, higher jobless claims, ongoing Euro zone sovereign debt
crisis & fiscal stability in U.S. SPDR gold trust ETF dipped by 0.6 tonnes to 1,229.643
tonnes. Silver outshined gold by rising more than 8% & made fresh all time high of $47.71
to end at $46.67. iShare silver trust holdings rose to 11,150.30 tonnes.

Copper rebounded and ended up 2.56% at $438.25 complimented by weaker dollar and
China’s refined copper imports up at 21.5% in March vs. 35.6% in February. Also, USD
building permits up at 0.59M and existing home sales at 5.10M supported copper prices.
The three month LME copper contract ended 3.2% up to end at $9,700 tonnes.
LME copper stock rose added 5850 tonnes to 456,275 tonnes vs. 456,275 tonnes.

Crude Oil ended up nearly 3% at $112.25 on the back of weaker dollar, a bounce back on
the Wall Street and taking support of its 61.8% retracement. Crude oil rose also as a
report said that China, India and Mideast oil demand has outpaced OPEC expectations
and Saudi will need to supply 9 million bpd or more for next few years to mitigate
supply/demand. EIA Crude oil inventories w/w came down at (-) 2.3M as against 1.6M.


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TECHNICAL VIEW
GOLD
WEEKLY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
GOLD 1592 1561 1529 1519 1498 1487 1467 1435 1404

OUTLOOK
Trend:- Bullish

Resistance:- 1519,1545
1519,1545$

Support:- 1493,1467
1493,1467$

Strategy:- Buy on dips

GOLD WEEKLY


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SILVER
WEEKLY PIVOT
SILVER 58.54 54.07 49.60 48.08 45.13 43.61 40.66 36.19 31.72

OUTLOOK
Trend:- Bullish

Resistance:- 48.10,49.60
48.10,49.60$

Support:- 44.40,42.90
44.40,42.90$


SILVER WEEKLY


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CRUDE
WEEKLY PIVOT
CRUDE 129.4 123.0 116.6 114.5 110.2 108.1 103.9 97.5 91.1

OUTLOOK
Trend:- Bullish

Resistance:- 117.3
117.3,122$

Support:- 105.3,99.5
105.3,99.5$


CRUDE WEEKLY


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NATURALGAS
WEEKLY PIVOT
NG 5.34 5.01 4.68 4.57 4.35 4.24 4.02 3.69 3.36

OUTLOOK
Trend:- Consolidate

Resistance:- 4.660,
0,5.230$

Support:- 3.975,3.
,3.520$


NATURALGAS WEEKLY


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COPPER
WEEKLY PIVOT
COPPER 501.2 478.1 455.0 446.6 431.9 423.5 408.8 385.7 362.6

OUTLOOK
Trend:- Consolidate

Resistance:- 445,46
462

Support:- 428,416
416


COPPER WEEKLY


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USD/INR
WEEKLY PIVOT
INR 46.04 45.47 44.90 44.54 44.33 43.97 43.76 43.19 42.62

OUTLOOK
Trend:- Consolidate

Resistance:- 44.75
75,45.30

Support:- 43.80,43.
,43.20

Strategy:- Sell on high

USD/INR WEEKLY


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