Gold futures ended below $900 an ounce yesterday on profit taking from the recent rally, triggered by optimism ahead of economic stimulus plans to be unveiled by the U.S. government.
Traders were awaiting an announcement on Washington's massive stimulus plan. The Senate was due to vote on the package later Monday to clear the way for its passage on Tuesday.
But at the same time the world's largest gold-backed exchange-traded fund, SPDR Gold Trust said its bullion holdings held unchanged at a record 867.19 tonnes as of Feb. 6.
U.S. gold futures fell on Friday also as weaker than expected U.S. jobs data boosts expectations Washington will act quickly to implement its fiscal stimulus policy, with rising stock markets suggesting some investment is being diverted back into shares.
According to the report from U.S Labour Department, jobless claims were up 35,000 last week to 626,000, more than expected and the most in 26 years. And also U.S. Labour Department said that productivity was up an annual rate of 3.2% in the fourth quarter, more than expected. Unit labour costs were up an annual rate of 1.8% in the fourth quarter, less than expected.
International spot gold traded in the range $ 911.70- $ 879.80a Troy Ounce and last quoted at $894.50
Weekly Outlook (DG. OCT.)
$933 is the major resistances .If sustain above that level, expect more uptrend. Resistances are $954, $968, $988. Supports are at $909, $899, $881 and $862.
Last day DGCX Gold APR. Traded in the range $909.70-$892.90and closed at $ 895.40
TECHNICAL OUTLOOK (Intra-day)
GOLD (APR) - Bullish above $ 898bearish below $ 893
MCXARUN
9994500540
Tuesday, February 10, 2009
safe trade calls
GOLD
Now as long Resistance of 14140 & 14230 Xpect price to test 13790-13600 in this week only. for the day sell below 13900 S/L 13950 and T/p 13850-790 OR sell ard 14160-170 S/L 14175 and T/p 14110-14070 (any time close above 14400-450 bullish while close below 13740/13350/13025/12750 bearish for medium term)
SILVER
Continue to view as long Support of 20000 & 19700 uptrend seen continue. for the day buy only abv 20500 & more above 20575 S/L 20410 and T/p 20700-20800 OR sell below 20050 S/L 20150 and T/p 19950-900/towards 19750 (any time close below 19425/18900/18000/ 17375/16925/16100/15775 bearish rally while close above 20575-970/21725 bullish for medium term)
CRUDE
THIS WAS OUR VIEW "as long Resistance of 2005 & 2050-60 down trend seen continue" & SEE PRICE TURN FRO HIGH EXACT 2060 TO MAKE LOW=1955. Continue to view as long Resistance of 2060 & 2130 down trend seen continue. for the day sell below 1955 S/L 1970 and T/p 1930-15/ 1890/sustain close below 1890 potential towards 1780-1580 in coming days OR sell ard 2027-30 S/L 2035 and T/p 2010-1990 (now crude need to close above 2130/2320/2650-75/2950 for bullish rally while close below 1890/1625 bearish for medium term)
COPPER
Continue to view as long Support of 163 expect price towards 185-192 in coming days (buy on dips advisable) for the day buy abv only 175.25 S/L 174 and T/p 177-177.50/179-182 OR buy ard 166.90-167.10 S/L 166.5 and T/p 168.50-171(upside strong rally only on close above 177.5/196/204.5/219/238/271while close below 160.5/150.5/144/138.5 bearish for medium term)
MCXARUN
9994500540
Now as long Resistance of 14140 & 14230 Xpect price to test 13790-13600 in this week only. for the day sell below 13900 S/L 13950 and T/p 13850-790 OR sell ard 14160-170 S/L 14175 and T/p 14110-14070 (any time close above 14400-450 bullish while close below 13740/13350/13025/12750 bearish for medium term)
SILVER
Continue to view as long Support of 20000 & 19700 uptrend seen continue. for the day buy only abv 20500 & more above 20575 S/L 20410 and T/p 20700-20800 OR sell below 20050 S/L 20150 and T/p 19950-900/towards 19750 (any time close below 19425/18900/18000/ 17375/16925/16100/15775 bearis
CRUDE
COPPER
Continue to view as long Support of 163 expect price towards 185-192 in coming days (buy on dips advisable) for the day buy abv only 175.25 S/L 174 and T/p 177-177.50/179-182 OR buy ard 166.90-167.10 S/L 166.5 and T/p 168.50-171(upside strong rally only on close above 177.5/196/204.5/219/238/271
MCXARUN
9994500540
Friday, February 6, 2009
safe trade calls
GOLD
Continue to view as long Support of 14075 & 13925 uptrend seen continue. we book profit on buy abv 14175, for the day buy abv 14325 S/L 14300 and T/p 14365-400/14450, anytime sustain close above 14450 seen new uprally for medium term OR buy ard 14060-65 S/L 14050 and T/p 14110-160 (any time close above 14450 bullish while close below 13740/13350/13025/12750 bearish for medium term)
SILVER
Continue to view as long Support of 19700 & 19425 uptrend seen continue. we book profit on buy abv 19800/19900, fresh buy only abv 20300 S/L 20240 and T/p 20350 atleast/towards 20800 in coming days OR buy ard 19830-840 S/L 19800 and T/p 19950-20050 (any time close below 19425/18900/18000/17375/ 16925/16100/15775 bearish rally while close above 20300/20975/21725 bullish for medium term)
CRUDE
Continue to view as long Resistance of 2050-60 & 2130 down trend seen continue. for the day sell below 1950 S/L 1965 and T/p 1925/sustain close below 1925 potential towards 1780-1580 in coming days OR sell ard 2050-55 S/L 2060 and T/p 2030-2010 (now crude need to close above 2130/2320/2650-75/2950 for bullish rally while close below 1925 bearish for medium term)
COPPER
PRICE TURN EXACT FROM OUR GIVEN SUPPORT=160.5 AS PRICE TURN FROM DAYS LOW=160.65 we book profit on sell below 163, for the day sell below 161.5 S/L 163 and T/p 160.5-157/below towards 153 OR sell ard 170.9-171.5 S/L 173.5 and T/p 168.5-165.5 (upside strong rally only on close above 174-175/183.5/191.5/ 197.5/204.5/219/238/271 while close below 150.5/144/138.5 bearish for medium term)
MCXARUN
9994500540
Continue to view as long Support of 14075 & 13925 uptrend seen continue. we book profit on buy abv 14175, for the day buy abv 14325 S/L 14300 and T/p 14365-400/14450, anytime sustain close above 14450 seen new uprally for medium term OR buy ard 14060-65 S/L 14050 and T/p 14110-160 (any time close above 14450 bullish while close below 13740/13350/13025/12750 bearish for medium term)
SILVER
Continue to view as long Support of 19700 & 19425 uptrend seen continue. we book profit on buy abv 19800/19900, fresh buy only abv 20300 S/L 20240 and T/p 20350 atleast/towards 20800 in coming days OR buy ard 19830-840 S/L 19800 and T/p 19950-20050 (any time close below 19425/18900/18000/17375/ 16925/16100/15775 bearish rally while close above 20300/20975/21725 bullish for medium term)
CRUDE
Continue to view as long Resistance of 2050-60 & 2130 down trend seen continue. for the day sell below 1950 S/L 1965 and T/p 1925/sustain close below 1925 potential towards 1780-1580 in coming days OR sell ard 2050-55 S/L 2060 and T/p 2030-2010 (now crude need to close above 2130/2320/2650-75/2950 for bullish rally while close below 1925 bearish for medium term)
COPPER
PRICE TURN EXACT FROM OUR GIVEN SUPPORT=160.5 AS PRICE TURN FROM DAYS LOW=160.65 we book profit on sell below 163, for the day sell below 161.5 S/L 163 and T/p 160.5-157/below towards 153 OR sell ard 170.9-171.5 S/L 173.5 and T/p 168.5-165.5 (upside strong rally only on close above 174-175/183.5/191.5/ 197.5/204.5/219/238/271 while close below 150.5/144/138.5 bearish for medium term)
MCXARUN
9994500540
Thursday, February 5, 2009
DGCX Gold Outlook 5th Feb, 09
U.S. gold futures settled up 1 percent yesterday, rebounding from the previous session's decline on worries over massive liquidity injections by central banks and the expectation of more uptrend in precious metals in light of major brokerage upgraded its price forecast.
Gold prices rose yesterday despite strong dollar as Passage of President Barack Obama's $825 billion proposed economic stimulus package would likely be inflationary.
According to the report from UBS, Gold investment demand will double in 2009 compared to 2007, and gold prices will average $1,000 an ounce in 2009.
The U.S. Census Bureau said that construction spending was at an annual rate of $1.054 trillion in December, down 1.4% from November's pace. For all of 2008, construction spending totaled $1.079 trillion, down 5.1% from a year ago.
International spot gold traded in the range $ 908.70- $ 894.50a Troy Ounce and last quoted at $905.40
Weekly Outlook (DG. OCT.)
$933 is the major resistances .If sustain above that level, expect more uptrend. Resistances are $954, $968, $988. Supports are at $909, $899, $881 and $862.
Last day DGCX Gold APR. Traded in the range $910.30-$896.60and closed at $ 905.40
TECHNICAL OUTLOOK (Intra-day)
GOLD (APR) - Bullish above $ 899bearish below $ 894
MCXARUN
9994500540
Gold prices rose yesterday despite strong dollar as Passage of President Barack Obama's $825 billion proposed economic stimulus package would likely be inflationary.
According to the report from UBS, Gold investment demand will double in 2009 compared to 2007, and gold prices will average $1,000 an ounce in 2009.
The U.S. Census Bureau said that construction spending was at an annual rate of $1.054 trillion in December, down 1.4% from November's pace. For all of 2008, construction spending totaled $1.079 trillion, down 5.1% from a year ago.
International spot gold traded in the range $ 908.70- $ 894.50a Troy Ounce and last quoted at $905.40
Weekly Outlook (DG. OCT.)
$933 is the major resistances .If sustain above that level, expect more uptrend. Resistances are $954, $968, $988. Supports are at $909, $899, $881 and $862.
Last day DGCX Gold APR. Traded in the range $910.30-$896.60and closed at $ 905.40
TECHNICAL OUTLOOK (Intra-day)
GOLD (APR) - Bullish above $ 899bearish below $ 894
MCXARUN
9994500540
DGCX Crude Outlook 5th Feb, 09
U.S. crude oil futures closed lower yesterday as the inventory data and economic concerns.
The U.S. Department of Energy said that crude oil stocks were up 7.2 million barrels to 346.1 million barrels and 700,000 barrels were added to the Strategic Petroleum Reserve. Supplies of gasoline were up 300,000 barrels while heating oil supplies were up 1.4 million barrels.
The DOE also said that refinery use increased from 82.5% to 83.5% of capacity last week. Over the past four weeks, gasoline demand was down 0.5% from a year ago while distillate demand was down 3.7% from a year ago.
On weekly basis ,U.S. crude futures ended weak last week , as gloomy economic data kept concerns about demand in focus even as the possibility of a refinery worker strike in the United States . Large inventory data from US also added pressure in to the crude oil prices.
Weekly Crude Oil (DWTI January.)
48.40 And 44.30 is the trading range, breaking either side may clear the direction. Resistances are $50.50, 52.40, and 54.30. Supports are at $41.60, $39.30, $ 37.00
DWTI (MAR) traded in the range $41.40 - $39.95and closed at $40.32
TECHNICAL OUTLOOK (Intra-day)
DGCX Crude (MAR) - Bullish above $40.60bearish below $40.00
MCXARUN
9994500540
The U.S. Department of Energy said that crude oil stocks were up 7.2 million barrels to 346.1 million barrels and 700,000 barrels were added to the Strategic Petroleum Reserve. Supplies of gasoline were up 300,000 barrels while heating oil supplies were up 1.4 million barrels.
The DOE also said that refinery use increased from 82.5% to 83.5% of capacity last week. Over the past four weeks, gasoline demand was down 0.5% from a year ago while distillate demand was down 3.7% from a year ago.
On weekly basis ,U.S. crude futures ended weak last week , as gloomy economic data kept concerns about demand in focus even as the possibility of a refinery worker strike in the United States . Large inventory data from US also added pressure in to the crude oil prices.
Weekly Crude Oil (DWTI January.)
48.40 And 44.30 is the trading range, breaking either side may clear the direction. Resistances are $50.50, 52.40, and 54.30. Supports are at $41.60, $39.30, $ 37.00
DWTI (MAR) traded in the range $41.40 - $39.95and closed at $40.32
TECHNICAL OUTLOOK (Intra-day)
DGCX Crude (MAR) - Bullish above $40.60bearish below $40.00
MCXARUN
9994500540
safe trade calls
GOLD
Continue to view as long Support of 13925 & 13740 uptrend seen continue. for the day buy abv 14175 S/L 14145 and T/p 14230-240/sustain abv towards 14350-425 OR buy ard 13860-865 S/L 13850 and T/p 13925-14000, anytime sustain close above 14450 seen new uprally for medium term (any time close above 14450 bullish while close below 13740/13350/13025/12750 bearish for medium term)
SILVER
Continue to view as long Support of 19550/19400 & 18900 uptrend seen continue. we book profit on buy abv 19800, fresh buy only abv 19900 S/L 19810 and T/p 20025-50/sustain close above test 20350 atleast/towards 20800 in coming days OR buy ard 19420-430 S/L 19400 and T/p 19550-19650 (any time close below 18900-525/18000/ 17375/16925/16100/15775 bearish rally while close above 20050/20975/21725 bullish for medium term)
CRUDE
PRICE TURN EXACT FROM OUR GIVEN RESISTANCE=2050 AS DAYS HIGH WAS 2049. Continue to view as long Resistance of 2050-60 & 2130 down trend seen continue. for the day sell below 1975 S/L 1990 and T/p 1965-50/1925/sustain close below 1925 potential towards 1780-1580 in coming days OR sell ard 2055-60 S/L 2065 and T/p 2040-2020 (now crude need to close above 2130/2320/2650-75/2950 for bullish rally while close below 1925 bearish for medium term)
COPPER
we book profit on sell last, for the day sell only below 163 S/L 165 and T/p 161-158 OR sell ard 169.4-169.6 S/L 170 and T/p 167-165 (upside strong rally only on close above 174-175/183.5/ 191.5/197.5/204.5/219/238/271 while close below 150.5/144/138.5 bearish for medium term)
MCXARUN
9994500540
Continue to view as long Support of 13925 & 13740 uptrend seen continue. for the day buy abv 14175 S/L 14145 and T/p 14230-240/sustain abv towards 14350-425 OR buy ard 13860-865 S/L 13850 and T/p 13925-14000, anytime sustain close above 14450 seen new uprally for medium term (any time close above 14450 bullish while close below 13740/13350/13025/12750 bearish for medium term)
SILVER
Continue to view as long Support of 19550/19400 & 18900 uptrend seen continue. we book profit on buy abv 19800, fresh buy only abv 19900 S/L 19810 and T/p 20025-50/sustain close above test 20350 atleast/towards 20800 in coming days OR buy ard 19420-430 S/L 19400 and T/p 19550-19650 (any time close below 18900-525/18000/ 17375/16925/16100/15775 bearish rally while close above 20050/20975/21725 bullish for medium term)
CRUDE
PRICE TURN EXACT FROM OUR GIVEN RESISTANCE=2050 AS DAYS HIGH WAS 2049. Continue to view as long Resistance of 2050-60 & 2130 down trend seen continue. for the day sell below 1975 S/L 1990 and T/p 1965-50/1925/sustain close below 1925 potential towards 1780-1580 in coming days OR sell ard 2055-60 S/L 2065 and T/p 2040-2020 (now crude need to close above 2130/2320/2650-75/2950 for bullish rally while close below 1925 bearish for medium term)
COPPER
we book profit on sell last, for the day sell only below 163 S/L 165 and T/p 161-158 OR sell ard 169.4-169.6 S/L 170 and T/p 167-165 (upside strong rally only on close above 174-175/183.5/ 191.5/197.5/204.5/219/238/271 while close below 150.5/144/138.5 bearish for medium term)
MCXARUN
9994500540
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