2. 8
Gold hits two-week high as U.S. data quells Fed taper talk
Gold rose to a two-week high buoyed by a fall in the dollar after weaker-than-
expected U.S. economic data boosted prospects the Federal Reserve will keep its
monetary stimulus in place. Speculation the U.S. central bank could start reining
in its $85 billion in monthly asset purchases as early as the summer had sparked a
sell-off in gold and a rally in the dollar last week. Prices rose over 1.5 percent to
$1,417.81 an ounce after data on Thursday showed the U.S. economy grew at a
slower pace than initially expected in the first quarter. Separately, weekly initial
jobless claims unexpectedly rose last week and pending home sales increased less
than expected.
Copper up on China demand prospects, tighter supply
Copper rose almost 1 percent on Thursday as investors bet on improved imports
by the biggest consumer China and as data from top producer Chile showed April
output fell from a year earlier due to strikes and production problems. Three-
month copper on the London Metal Exchange closed at $7,320, almost 1 percent
up, reversing losses. Lending copper some support, premiums for bonded copper
in Shanghai were heard as high as $150 a tonne, according to China price provider
SMM, a sign demand for delivery of the metals has improved.
NEWS RADAR
3. S1 S2 R1 R2
1384 1370 1409 1422
GOLD HOURLY CHART
GOLD LOOKS BEARISH SELL BELOW 1384 LEVEL IS
SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 1370 LEVEL AND MAINTAINING SL
OF 1395.00
4. S1 S2 R1 R2
22.02 21.78 22.39 23.62
SILVER HOURLY CHART
SILVER LOOKS BEARISH SELL BELOW 22.15 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 21.90 LEVEL AND MAINTAINING SL
OF 22.35
5. S1 S2 R1 R2
3.2680 3.2451 3.3054 3.3365
COPPER HOURLY CHART
COPPER LOOKS BEARISH SELL BELOW 3.3050
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 3.2800 LEVEL AND
MAINTAINING SL OF 3.3250
3
6. S1 S2 R1 R2
91.84 91.23 93.84 94.23
CRUDE OIL HOURLY CHART
CRUDE LOOKS BEARISH SELL AROUND 91.20 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 90.00 LEVEL AND MAINTAINING SL
OF 92.00
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