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29 SEP 03 OCT 2014

W E E K L Y
R
E
P
O
R
T
Blow by Blow
On
Bullions,
Base metals,
Energy


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MAJOR EVENTS
Gold futures managed to trade in the green zone on safe heaven buying while
investors are looking ahead for the outcome of the third estimates of the US
economic growth and University of Michigan consumer sentiment index later today.
Geopolitical crisis amid weak economic data attracted bargain buying that supported
the metal after prices tested a fresh ten month low near $1200 per ounce yesterday.
US dollar came slightly off its two year high on last day against the Euro and some
bargain buying ahead of the weekend supported the yellow metal, pushing the
COMEX futures above $1220 per ounce levels. Euro falls on Friday against the dollar
after ECB chief Mario Draghi repeats his view that the central bank could use
additional unconventional policy measures against low inflation. The euro came under
$1.27 mark and quotes near 20 months low quotes at $1.2736, down 0.13% on Friday.
Meanwhile, the US dollar Index quotes at 85.39, up 0.06% on Friday. The COMEX Gold
December delivery quotes at $1,222.80, up $0.90 and Silver December quotes at
$17.553, up $0.115 a troy ounce on Friday. Local gold futures off the session high as
Indian rupee strengthened against the dollar. The MCX Gold for the December
delivery quotes at Rs 26,883, down Rs 185 and Silver December quotes at Rs 39054.
West Texas Intermediate crude advanced, heading for a second weekly gain in New
York after data showed the U.S. economy expanded the fastest in almost three years.
Brent pared a weekly decline. WTI futures climbed as much as 0.8 percent in New
York, having slipped 0.3 percent earlier, and were poised for a weekly gain of 0.6
percent. U.S. gross domestic product grew 4.6 percent in the second quarter, the
fastest rate since the last three months of 2011, Commerce Department data showed
today in Washington. Saudi Arabia will keep supplies steady the rest of the year, a
person with knowledge of the kingdoms policy said. WTI for November delivery rose
as much as 78 cents to $93.31 a barrel in electronic trading on the New York
Mercantile Exchange, trading at $92.94 at 1:46 p.m. London time. It fell 27 cents to
$92.53 yesterday. The U.S. benchmark crude was at a discount of $4.24 to Brent on
ICE, compared with $6.74 at the end of last week. Brent for November settlement
was at $97.42 a barrel on the ICE Futures Europe exchange, up 42 cents. The contract
gained 5 cents yesterday. The volume of all futures traded was about 30 percent
below the 100-day average for the time of day. Prices slid 12 percent this year, and
1.1 percent this week.

WTI Oil Set for
Second Weekly
Gain Before GDP
Data.

Copper Rises
From 14-Week
Low as U.S.
Growth
Accelerates.
Copper futures gained on speculation that demand will improve after a report showed
the economy expanded at the fastest rate since 2011 in the U.S., the worlds second-
biggest consumer of the metal. Gross domestic product climbed 4.6 percent in the
second quarter, up from an earlier estimate of 4.2 percent and the most since the final
three months of 2011, government data showed today. Yesterday, copper sagged to a
14-week low as a drop in U.S. durable-goods orders fueled demand concerns amid
signs of slowing growth in China, the biggest metals user. Copper futures for
December delivery climbed 0.2 percent to settle at $3.0355 a pound at 1:25 p.m. on
the Comex in New York. The metal capped a third straight weekly decline as the dollar,
on pace for the biggest quarterly gain since 2008, erodes the appeal of commodities as
alternative assets. The investment demand for metals is not going to be quite as high
because a lot of transactions are priced in U.S. dollars.
On the London Metal Exchange, copper for delivery in three months increased 0.3
percent to $6,718 a metric ton ($3.05 a pound).Nickel tumbled 2 percent on the LME
to $16,980 a ton, or 19 percent below its closing high this year of $21,000 in May. A 20
percent decline would meet the common definition of a bear market.Aluminum, lead
and tin fell in London, while zinc was unchanged.

Gold In Cautious
Mode Ahead Of
GDP Data.


E C O N O M I C C A L E N D E R
DATE & TIME
DESCRIPTION FORECAST PREVIOUS
Sep 29 6:00pm Core PCE Price Index m/m 0.0% 0.1%
6:00pm
Personal Spending m/m 0.5% -0.1%
6:00pm
Personal Income m/m 0.3% 0.2%
7:30pm
Pending Home Sales m/m -0.4% 3.3%
Sep 30 6:30pm
S&P/CS Composite-20 HPI y/y 7.5% 8.1%
7:15pm
Chicago PMI 61.6 64.3
7:30pm
CB Consumer Confidence 92.2 92.4
Oct 01 5:45pm
ADP Non-Farm Employment Change 206K 204K
7:15pm
Final Manufacturing PMI 58.0 57.9
7:30pm
ISM Manufacturing PMI 58.6 59.0
7:30pm
Construction Spending m/m 0.5% 1.8%
7:30pm
ISM Manufacturing Prices 56.8 58.0
8:00pm
Crude Oil Inventories -4.3M
All Day
Total Vehicle Sales 16.9M 17.5M
Oct 02 5:00pm
Challenger Job Cuts y/y -20.7%
6:00pm
Unemployment Claims 299K 293K
7:30pm
Factory Orders m/m -9.2% 10.5%
8:00pm
Natural Gas Storage 97B
Oct 03 6:00pm
Non-Farm Employment Change 216K 142K
6:00pm
Trade Balance -41.0B -40.5B
6:00pm
Unemployment Rate 6.1% 6.1%
6:00pm
Average Hourly Earnings m/m 0.2% 0.2%
7:15pm
Final Services PMI 58.5 58.5
7:30pm
ISM Non-Manufacturing PMI 58.5 59.6











































S1 S2 S3 R1 R2 R3
26650 26300 26000 27255 27700 28000
S1 S2 S3 R1 R2 R3
38500 37500 36500 40000 41000 42000
T E C H N I C A L V I E W
MCX GOLD showed some correction in
whole week but not able to maintains
above 27000 and closed below the
support level of 61.8% retracement.
Now, if it able to sustain below 26600
then next vital support is seen near
psychological level of 26000. Contrary
if it maintains above 27150 then
breakout of downward channel pattern
expected which breach it upto next
resistance i.e. 27800.
S T R A T E G Y
Better strategy in MCX GOLD is to sell
on highs for the targets of 26300 with
stop loss of 27350.

PIVOT TABLE
G O L D
PIVOT TABLE
S I L V E R
T E C H N I C A L V I E W
MCX SILVER on daily charts showed
sideways to bearish movement and
took support around its important
support level i.e. 38500. Now, if it
sustain below 38500 then next support
is seen around 37500. On higher side
40000 is act as important resistance
level for it above which it may test
upper band of channel pattern i.e.
around 41300.

S T R A T E G Y
Better strategy in MCX SILVER at this
point of time is to sell below 38500 for
the targets of 37000, with stop loss of
40000.



C R U D E O I L
C O P P E R















































S1 S2 S3 R1 R2 R3
5670 5500 5400 5840 5950 6065
S1 S2 S3 R1 R2 R3
411 406 400 422.30 428 435
T E C H N I C A L V I E W
MCX Copper last week showed
sideways to bearish movement and
closed below 50% retracement level
i.e. 417. Now, if it breaks the support
level of 411 then next support level is
seen around 405. On higher side if it
maintains above 422.50 then next
resistance is seen in the range of 430-
435.
S T R A T E G Y
Better strategy in MCX CRUDEOIL is to
buy above 5850 for the targets of 6000-
6100, with stop loss of 5500.

PIVOT TABLE
T E C H N I C A L V I E W
MCX Crude oil last week showed
bullish movement, revert from daily
trendline and closed above upperband
of channel pattern. Now, if it maintains
above 5840 in coming sessions then it
may test the psychological level of
6000. On other hand closing below
5700 bears may active and again take
it towards the support level of 5500.
S T R A T E G Y
Better strategy in MCX COPPER is to sell
below 411, with stop loss of 423 for the
targets of 405-400.
PIVOT TABLE














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