NEWS RADARGold futures climbed sharply higher in the US on Wednesday after areport showed that the country’s advance GDP contracted by 0.1percent in the fourth quarter, the first drop since 2009.Gold for Aprildelivery on the Comex division of the New York MercantileExchange was last up $17.80 at $1,680.50 per ounce, which isabout $14 higher than before the GDP figure was announced.“Thisnumber is really shocking – it’s a huge disappointment consideringthe massive stock rally that we’ve seen over the past couple weeks.I guess it’s safe to say that economy isn’t quite as strong and thesome equity bulls would lead you to believe,” a US-based goldtrader said.Golds gains on Tuesday came as "the market grewmore optimistic that the Fed would stay the course," Standard Bankanalyst Marc Ground said in a note.The most actively tradedcontract, for February delivery, was recently up $10.30, or 0.6%, at$1,663.20 a troy ounce on the Comex division of the New YorkMercantile Exchange. TRADING TIPS EXPERT OPINION GOLD LOOKS BEARISH SELL GOLD BELOW 1673 TGS SILVER LOOKS BULLISH 1667/1661 SL 1679 CRUDE LOOKS BEARISH BUY SILVER ABOVE 32.10 COPPER LOOKS BEARISH TGS 32.35/32.60 SL 31.85 NGAS LOOKS BEARISH SELL COPPER BELOW 3.7250 LEAD LOOKS BEARISH TGS 3.7050/3.6850 SL NICKEL LOOKS BEARISH 3.7450 ALUMINIUM LOOKS BEARISH SELL CRUDE BELOW 97.30 ZINC LOOKS BEARISH TGS 96.90/96.50 SL 97.70
GOLD HOURLY CHARTS1 S2 R1 R21669 1663 1681 1687 GOLD LOOKS BEARISH ,SELL AROUND 1673.00 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 1667.00 LEVEL AND MAINTAINING SL OF 1680.00
SILVER HOURLY CHART S1 S2 R1 R231.70 31.40 32.30 32.60 SILVER LOOKS BULLISH ,SELL AROUND 32.10 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 32.35 LEVEL AND MAINTAINING SL OF 31.85
COPPER HOURLY CHART S1 S2 R1 R23.7215 3.7015 3.7615 3.7815 COPPER LOOKS BEARISH ,SELL AROUND 3.7250 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 3.7050 LEVEL AND MAINTAINING SL OF 3.7450
CRUDE OIL HOURLY CHART S1 S2 R1 R297.30 96.90 98.10 98.50 CRUDE LOOKS BEARISH ,SELL AROUND 97.30 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 96.90 LEVEL AND MAINTAINING SL OF 97.70
MARKET STATISTICS OPEN HIGH LOW CLOSE GOLD 1663.73 1683.66 1662.57 1657.63 SILVER 31.35 32.26 31.22 32.01 CRUDE 97.34 98.22 97.32 97.99 COPPER 3.6790 3.7440 3.6723 3.7360 NGAS 3.256 3.339 3.256 3.333ALUMINIUM 2061.13 2107.76 2059.63 2098.01 LEAD 2407.25 2456.38 2404.63 2443.88 NICKEL 17855.00 18381.00 17807.50 18328.00 ECONOMIC CALENDAR DATE CURRENCY FORECAST PREVIO US Feb 1 GBP Manufacturing PMI 51.0 51.4 Feb 1 USD Non-Farm Employment Change 161K 155K Feb 1 USD Unemployment Claims 7.8% 7.8% Feb 1 USD ISM Manufacturing PMI 50.8 50.7
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