Commodity weekly script
COMMODITY WEEKLY REPORT www.LiveTips.biz
Bullion
• Gold futures tumbled on the speculation that
China will raise interest rates to curb the raising
inflation, erod...
Bullion (contd.)
• If the inverse correlation between the dollar
and gold strengthens, we can see the dollar
weigh on gold...
Base metals
• Copper tumbled the most in four months in New
York and fell from a record in London on concern
that China’s ...
Base metals (Contd)
• Raising rates has a negative psychological
impact and will put a brake on the rising
demand.
• addit...
Energy
• Oil fell the most in more than three weeks on
speculation China will raise interest rates,
curbing demand growth ...
Energy (Contd)
• Crude oil for December delivery fell $2.93 to
settle at $84.88 a barrel on the New York
Mercantile Exchan...
Weekly Pivot
Commodity S2 S1 R1 R2
Gold 1349 1360 1408 1421
Silver 24.8 25.7 27.6 28.26
Crude 83.90 84.45 88 89.18
Natural...
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Commodity weekly script

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Commodity weekly script

  1. 1. Commodity weekly script COMMODITY WEEKLY REPORT www.LiveTips.biz
  2. 2. Bullion • Gold futures tumbled on the speculation that China will raise interest rates to curb the raising inflation, eroded the demand for commodities. Silver also declined following gold. • The dollar index rose to five week high against a basket of six currencies, as the euro declined to six week low. • The gold price fell 2.3 percent this week. The metal has gained 25 percent in 2010.
  3. 3. Bullion (contd.) • If the inverse correlation between the dollar and gold strengthens, we can see the dollar weigh on gold again. • Silver futures for December delivery fell $1.463, or 5.3 percent, to settle at $25.942 an ounce. On Nov. 9, the price reached $29.34, the highest level since March 1980. The metal dropped 3 percent this week. The commodity jumped 54 percent this year.
  4. 4. Base metals • Copper tumbled the most in four months in New York and fell from a record in London on concern that China’s bid to rein in inflation will cool demand for industrial metals. • The greenback headed for five weekly high on the decline of euro. • Copper has gained more than fivefold since 2002 as robust growth in emerging economies boosted demand for the metal used in buildings and electric grids.
  5. 5. Base metals (Contd) • Raising rates has a negative psychological impact and will put a brake on the rising demand. • additional sales from reserves of raw materials would slash demand
  6. 6. Energy • Oil fell the most in more than three weeks on speculation China will raise interest rates, curbing demand growth in the world’s biggest energy-consuming country. • Anything that provides evidence of a slowing Chinese economy is likely to be decline the demand.
  7. 7. Energy (Contd) • Crude oil for December delivery fell $2.93 to settle at $84.88 a barrel on the New York Mercantile Exchange. Futures, dropped 2.3 percent this week, leaving them up 10 percent from a year ago.
  8. 8. Weekly Pivot Commodity S2 S1 R1 R2 Gold 1349 1360 1408 1421 Silver 24.8 25.7 27.6 28.26 Crude 83.90 84.45 88 89.18 Natural Gas 3.69 3.77 3.94 4.11 Copper 382 388 404 409

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