2. 8
NEWS RADAR
Comex gold futures ended higher, on short-covering and rallied over 1.5
per cent on Friday, its biggest one-day gain since November, as
disappointing US job data fuelled expectations that the Federal Reserve
will continue its bullion-friendly bond purchases. The weak jobs data
reduced the chance that the Fed would alter its current $85 billion
monthly purchases of mortgage-backed securities and Treasuries
known as qualitative easing in a bid to boost economic growth. Gold’s
response to the payrolls report was particularly strong because
previous advances in the labour market had fuelled discussion within
the US central bank about whether to cut back the third round of bond
purchases, perhaps as soon as this summer. However, investor interest
continued to recede on Thursday, with bullion holdings in major gold
exchange traded funds dropping to their lowest this year.
TRADING TIPS EXPERT OPINION
SELL GOLD BELOW 1568 TGS GOLD LOOKS BEARISH
1562/1555 SL 1573 SILVER LOOKS BEARISH
SELL SILVER BELOW 27.10 CRUDE OIL LOOKS BEARISH
TGS 26.90/25.70 SL 27.30 COPPER LOOKS BEARISH
SELL COPPER BELOW 3.3650 NGAS LOOKS BULLISH
TGS 3.3500/3.3300 SL LEAD LOOKS BEARISH
3.3800 NICKEL LOOKS BEARISH
SELL CRUDE BELOW 93.00 ALUMINIUM LOOKS BEARSIH
TGS 92.50/92.00 SL 93.50 ZINC LOOKS BEARISH
3. GOLD HOURLY CHART
S1 S2 R1 R2
1574.68 1568.78 1582.80 1587.26
GOLD LOOKS BEARISH SELL BELOW 1575.00
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 1568.00 LEVEL AND
MAINTAINING SL OF 1579.00
4. SILVER HOURLY CHART
S1 S2 R1 R2
27.13 27.00 27.45 27.62
SILVER LOOKS BEARISH SELL BELOW 27.25 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 27.05 LEVEL AND MAINTAINING SL
OF 27.50
5. COPPER HOURLY CHART
S1 S2 R1 R2
3.3600 3.3380 3.3920 3.4120
COPPER LOOKS BEARISH SELL BELOW 3.3600
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 3.3400 LEVEL AND
MAINTAINING SL OF 3.3750
0
6. CRUDE OIL HOURLY CHART
S1 S2 R1 R2
92.70 92.20 93.98 94.42
CRUDE LOOKS BEARISH SELL AROUND 93.40 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 92.40 LEVEL AND MAINTAINING SL
OF 94.50
7. MARKET STATISTICS
OPEN HIGH LOW CLOSE
GOLD 1553.35 1580.78 1549.15 1579.36
SILVER 26.89 27.33 26.77 27.27
CRUDE 94.33 93.54 91.92 93.01
COPPER 3.3438 3.3625 3.3233 3.3375
NGAS 3.942 4.129 3.925 4.121
ALUMINIUM 1888.13 1892.07 1866.76 1887.13
LEAD 2085.75 2085.75 2044.88 2046.38
NICKEL 16120.00 16230.50 15962.50 16024.00
ECONOMIC CALENDAR
DATE CURRENCY FORECAST PREVIOUS
Apr 9 USD Fed Chairman Bernanke Speaks
Apr 9 EUR French Gov Budget Balance -12.8 B
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