Weekly bullion news letter by capital height 06 09-10

Weekly Newsletter Commodity
Newsletter-Commodity
06/09/2010

www.capitalheight.com

info@capitalheight.com
Phone- (0731)4295950

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
Silver rallies more than 1 pct to near 2-1/2 year high

U.S dollar fell against the euro

Gold cuts loss after weak ISM data

Copper ends off 4-month high on weak services data

US payrolls fall by less than expected

Gold gained marginally this week after better than expected US economic data posted
in last two weeks. Gold is at $1246.60 and managed to continue its uptrend for fifth
straight week. It gained $9 after resisting $1254 and touched weekly low of $1231.
Gold shred most of its early week gains as US jobless claims came down at 472K,
Non-farm payrolls down at (-) 54K and Pending home sales jumped up to 5.20%.
The RSI for gold is at 66 which signal near to overbought market & gold has turned red
in its monthly chart. The holdings of the worlds’ largest gold backed exchange traded
fund, New York’s SPDR gold trust fell for the first time in a week with the drop of 9.12
tonnes straight marking the largest one-day decline since late July.

Copper is up at $ 349 gaining $10 and accumulated 2% gains on weekly basis.

It touched weekly high of $ 352 and took support of $334. Copper ended positive on
stronger economic data as pending home sales is up at 5.20% & lower jobless claims
complimented the uptrend. The Metal was higher as the dollar fell against the euro after
a successful Spanish govt. debt auction and the ECB keeping the key rates unchanged.
The fundamental reason for bullish copper is strong rebound seen in Asian economy,
specifically biggest consumer such as China posting better Chinese manufacturing data
& India’s Q1 GDP up at 8.8% supported by growth in manufacturing sector at 12.4%.


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TECHNICAL VIEW
GOLD
WEEKLY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
GOLD 1313 1290 1267 1257 1244 1234 1221 1198 1176

OUTLOOK
Trend:- Bullish

53,1290$
Resistance:- 1253

Support:- 1227,1192
,1192$

Strategy:- Buy on dips

GOLD WEEKLY


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SILVER
WEEKLY PIVOT
SILVER 22.88 21.76 20.64 20.22 19.52 19.10 18.40 17.28 16.16

OUTLOOK
Trend:- Bullish

Resistance:- 19.94
94,20.85$

Support:- 19.45,18.90
18.90$


SILVER WEEKLY


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CRUDE
WEEKLY PIVOT
CRUDE 85.8 81.8 77.8 76.0 73.8 72.0 69.8 65.8 61.8

OUTLOOK
Trend:- Consolidate

Resistance:- 77.50,
77.50,82.90$

Support:- 72.10,69.70
69.70$


CRUDE WEEKLY


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NATURALGAS
WEEKLY PIVOT
NG 4.59 4.34 4.09 4.00 3.84 3.75 3.59 3.34 3.09

OUTLOOK
Trend:- Bearish

Resistance:- 4.130
4.130,4.490$

Support:- 3.520,2.970
2.970$

Strategy:- Sell on high

NATURALGAS WEEKLY


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COPPER
WEEKLY PIVOT
COPPER 400.3 382.0 363.7 356.5 345.4 338.3 327.1 308.7 290.4

OUTLOOK
Trend:- Bullish

Resistance:- 353,367

Support:- 339,326
6


COPPER WEEKLY


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USD/INR
WEEKLY PIVOT
INR 48.78 48.07 47.36 46.91 46.65 46.20 45.94 45.23 44.52

OUTLOOK
Trend:- Consolidate

Resistance:- 47.15
5,48.10

Support:- 45.80,45.10
,45.10


USD/INR WEEKLY


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Weekly bullion news letter by capital height 06 09-10

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Weekly bullion news letter by capital height 06 09-10