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Weekly Newsletter Commodity
Newsletter-Commodity
13/09/2010

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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
Dollar's sharp gains on yen pressured gold

Gold ends off, hit by firm dollar

Copper, aluminum stockpiles continue decline

Copper suffering its first weekly decline in four weeks

U.S. crude rose 3 percent to hit a four-week high above $76

Gold turned red after five consecutive weekly gains owing to better US economic data
and rising global equity markets. Gold has made a double top and resisted at a new two
month high of $1262 and a weekly low of $ 1237 to end at $ 1246. The shine of gold as
a safe haven became less in the later part of the week as it shred $ 11 on better than
expected US jobless claims data at 451K vs. 470K and lower US trade balance at
(-)42.88B. Gold consolidated this week as market waits for fresh momentum to climb
higher as it is in a tight range of $ 1260 - $ 1240. The world’s largest gold back ETF,
New York’s SDPR gold trust reported a drop in its holdings by 0.911 tonnes for second
consecutive weeks. Its now at 1,293.531 tonnes.

Copper settled at $ 340 ending the three consecutive weeks’ gains. Copper shred $ 8
after resisting at $351.88 and touched weekly low of $ 338. Base metals melt down
after as Chinese government clamps down on property speculation, shutters energy-
intensive factories and limits lending led by liquidation in Shanghai zinc where open
interest fell 10 percent. On an average, metals on LME slumped by 3 percent with rising
dollar against euro supported weak trend. The latest data of Chinese industrial
production came better than expected at 13.9% vs. 13.1% while its consumer prices
rose 3.5%. This economic data may support the falling copper in the coming week.


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TECHNICAL VIEW
GOLD
WEEKLY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
GOLD 1325 1299 1274 1260 1248 1234 1222 1197 1171

OUTLOOK
Trend:- Bullish

64,1290$
Resistance:- 1264

Support:- 1225,1192
,1192$

Strategy:- Buy on dips

GOLD WEEKLY


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SILVER
WEEKLY PIVOT
SILVER 21.59 21.01 20.43 20.14 19.85 19.56 19.27 18.69 18.11

OUTLOOK
Trend:- Bullish

Resistance:- 20.15
20.15,20.85$

Support:- 19.45,18.90
18.90$


SILVER WEEKLY


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CRUDE
WEEKLY PIVOT
CRUDE 87.5 83.4 79.4 78.0 75.3 73.9 71.2 67.1 63.1

OUTLOOK
Trend:- Consolidate

Resistance:- 77.50,
77.50,82.90$

Support:- 72.30,69.70
69.70$


CRUDE WEEKLY


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NATURALGAS
WEEKLY PIVOT
NG 4.53 4.30 4.06 3.97 3.83 3.73 3.60 3.36 3.13

OUTLOOK
Trend:- Consolidate

Resistance:- 4.130
4.130,4.490$

Support:- 3.680,2.970
2.970$

Strategy:- Sell on high

NATURALGAS WEEKLY


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COPPER
WEEKLY PIVOT
COPPER 383.5 370.2 356.8 348.4 343.5 335.1 330.1 316.7 303.4

OUTLOOK
Trend:- Consolidate

Resistance:- 349,365

Support:- 337,323
3


COPPER WEEKLY


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USD/INR
WEEKLY PIVOT
INR 48.61 47.89 47.17 46.71 46.45 45.99 45.73 45.01 44.29

OUTLOOK
Trend:- Consolidate

Resistance:- 47.15
5,48.10

Support:- 45.80,45.10
,45.10

Strategy:- Sell on high

USD/INR WEEKLY


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