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WEEKLY
COMMODITY REPORT

Metals Strengthen On Weak Dollar !!

05th April 2010 to 10th Apr 2010
 Weekly Commodity Report
05th April to 10th Apr 2010
RESEARCH

ECONOMIC DATA

Date Time Currency Economic Data Forecast Previous

Mon 7:30pm USD ISM Non-Manufacturing PMI 54.2 53.0

Apr 5
7:30pm USD Pending Home Sales m/m -0.6% -7.6%

Tue 11:30pm USD FOMC Meeting Minutes

Apr 6

Wed 8:00pm USD Crude Oil Inventories 2.9M

Apr 7
9:30pm USD FOMC Member Dudley Speaks

11:00pm USD Fed Chairman Bernanke Speaks

11:30pm USD FOMC Member Hoenig Speaks

Thu 12:30am USD Consumer Credit m/m 1.4B 5.0B

Apr 8
6:00pm USD Unemployment Claims 433K 439K
6:00pm USD FOMC Member Duke Speaks

8:00pm USD FOMC Member Tarullo Speaks

8:00pm USD Natural Gas Storage 12B

Fri 1:30am USD FOMC Member Kohn Speaks

Apr 9
6:00am USD Fed Chairman Bernanke Speaks

7:30pm USD Wholesale Inventories m/m 0.4% -0.1%

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 Weekly Commodity Report
05th April to 10th Apr 2010
RESEARCH

Fundamental Market Overview

Gold for June delivery rose as much as to $1,120/oz on COMEX, helped by a drop “US JUNE GOLD
in the dollar on worse-than expected US ADP employment data. ADP RISES TO $ 1,120 ON
DOLLAR AND US
employment report stoked concern about the labor market in the US two-days
DATA”
before the closely watched government payrolls data. June-deliverable gold
futures rose for a fourth day in the last five trading days. Gold closed 0.8 percent
higher at $1,114.50/oz. The dollar fell 0.5 percent against a basket of six major
currencies after ADP employment reports showed that US private sector
employers cut 23,000 jobs in March.

Crude touched a 1 1/2-year high above USD 85 despite US government data “ C R U D E O I L

which showed crude inventories rose more than expected. The commodity is S E T T L E S AT
currently trading a bit soft, but still above the 83 mark. Crude oil prices gained on HIGHEST SINCE JAN.
11 ”
the NYMEX mainly on the back of weakness in the dollar. NYMEX crude oil prices
touched a 17-month high on Thursday. Risk sentiments in the financial markets
coupled with dollar weakness is leading the crude oil prices to gain. Oil rose more
than 1 percent to hit a seven week high on Thursday after a report showed that
United States lost fewer jobs than expected in February and on signals China will
maintain its economic stimulus measures.

Copper started the new quarter on solid footing, rallying to a 20-month peak “ U P B E AT D ATA
above $3.60 per lb in New York futures trade Thursday morning, after positive BOOST US COPPER
manufacturing data from China, Europe and the U.S. bolstered demand T O E A R LY 2 0 -
MONTH PEAK”
sentiment. Copper up on new-quarter investment flows and positive demand
signals from upbeat manufacturing data and falling London stockpiles. Copper
prices rallied on Thursday with prices breaching $7900/tonne on the LME. The red
metal took cues from positive economic updates from China which reported that
the manufacturing expanded at a faster pace in March. This positive data from the
world's major driver of metals boosted the investor sentiment. Copper prices were
also supported by the weakness in the dollar and the LME inventory data which
showed that the red metal inventories declined for a consecutive 22nd day at the
LME warehouse.

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 Weekly Commodity Report
05th April to 10th Apr 2010
RESEARCH

Technical Analysis
GOLD

Weekly Pivots

SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4

GOLD 1202.7 1174.7 1146.7 1136.4 1118.7 1108.4 1090.7 1062.7 1034.7

GOLD (Weekly Chart)

Market Overview Strategy

COMEX Gold is still weak on charts, but last week it has
continuously sustained above $1100. For the upcoming
week if COMEX Gold sustains below $1084 an ounce then it
can test the level of $1062 and on the upside 1146$ will be a
major resistance.
For the next week traders can use the sell on higher level
strategy.
Major support for COMEX Gold in the coming week
would be 1084$ and 1050$
Major resistance for COMEX Gold in the coming week
would be 1146$ and 1175$
Major support in MCX Gold is 16250 and 15720
Major resistance in MCX Gold is 16900 and 17650.
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 Weekly Commodity Report
05th April to 10th Apr 2010
RESEARCH

SILVER

Weekly Pivots

SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4

SILVER 2080.3 1973.8 1867.3 1828.1 1760.8 1721.6 1654.3 1547.8 1441.3

SILVER (Weekly Chart)

Market Overview Strategy

COMEX Silver is still weak on charts, though it was in
uptrend the entire previous week and has touched the
important resistance of $1800. Major resistance in COMEX
Silver for the coming week are $1892 and $1942 and
supports at $1723 and $1655.
For the next week traders can use sell on higher level
strategy in Silver if it does not break the level of $1807, by
keeping the proper stop loss.

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 Weekly Commodity Report
05th April to 10th Apr 2010
RESEARCH

CRUDE OIl

Weekly Pivots

SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4

CRUDE 91.15 87.52 83.89 81.94 80.26 78.31 76.63 73.00 69.37

CRUDE OIL (Weekly Chart)

Market Overview Strategy

NYMEX Crude last week has crossed the all important level For the next week traders can use the buy on lower level
of $ 84.83. Crude is overall in a bullish phase and next strategy, if NYMEX Crude sustains above $ 85 a barrel by
week if it sustains above $ 85 we can see a further upward keeping the proper stop loss.
rally. If NYMEX Crude does not sustains above $ 83 a barrel
then below $ 77.90 a slight downward rally can come in
the short term.

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 Weekly Commodity Report
05th April to 10th Apr 2010
RESEARCH

COPPER

Weekly Pivots

SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4

COPPER 405.15 387.45 369.75 362.80 352.05 345.10 334.35 316.65 298.95

COPPER (Weekly Chart)

Market Overview Strategy

COMEX Copper has been in an uptrend for the entire
previous week and has crossed the all important
resistance of 359. For the coming week if it sustains
above 359 we can see an upward rally till 370 levels.
For the coming week traders should use the strategy of buying on
lower levels if Copper sustains above 359. COMEX Copper has a
crucial support of 341 and 327and resistance at 378 and 390. For
MCX Copper support is found at 348 and 332 and resistance at
370 and 387.

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 Weekly Commodity Report
05th April to 10th Apr 2010
RESEARCH

Weekly Pivots

SCRIPTS R3 R2 R1 PP S1 S2 S3

GOLD 16797.00 16731.67 16645.33 16493.67 16407.33 16255.67 16169.33

SILVER 28393.00 28099.67 27760.33 27127.67 26788.33 26155.67 25816.33

COPPER 373.35 369.67 362.68 352.02 345.03 334.37 327.38

CRUDE 4033.00 3967.33 3898.67 3764.33 3695.67 3561.33 3492.67

NATURAL GAS 200.80 196.53 191.27 181.73 176.47 166.93 161.67

LEAD 104.05 102.65 100.85 97.65 95.85 92.65 90.85

ZINC 114.90 112.93 110.07 105.23 102.37 97.53 94.67

NICKEL 1217.70 1202.30 1165.90 1114.10 1077.70 1025.90 989.50

ALLUMINIUM 111.15 109.28 107.37 103.58 101.67 97.88 95.97

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 Weekly Commodity Report
05th April to 10th Apr 2010
RESEARCH

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