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Bullion Metals

Bullion Metals

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Published by justmcxcommodity
Bullion Weekly Technical and Market Overview 14th To 18th Nov. 2011
Bullion Weekly Technical and Market Overview 14th To 18th Nov. 2011

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Published by: justmcxcommodity on Nov 12, 2011
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12/28/2013

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Global Research Limited
Week : 14th to 18th Nov'2011
WEEKLY
REPORT 
www.capitalvia.com
COMMODITYCOMMODITY
Market
Precious Metals Remain Up OnGreek Debt Concerns
Analyst Speak
Premium
segment
 
Economic Data
Week : 14th to 18th Nov'2011Week : 14th to 18th Nov'2011
[ 2 ][ 3 ]
Fundamental Market Overview
Gold posted modest gains on Friday, following encouraging with a 0.8 percent gain. U.S. Gold rose 0.6 percent tosigns that Italy was making an effort to ease its political turmoil $1,770.10, on course for its third straight week of gains.and avert an economic disaster, while investors remain Investment flows into Gold-backed exchange-traded fundsnervous about the unfolding euro zone debt crisis. The continued, even as Gold slumped for three consecutiveuncertainty in solving the two-year-old debt crisis is likely to sessions. SPDR Gold Trust, the world's largest Gold ETF,support safe haven interest in Gold, but a widespread sell-off in reported a fifth straight day of gains in its holdings - standing atresponse to disastrous news out of the euro zone could sink 1,268.666 tonnes by Nov. 10, highest since late August.Gold as investors are forced to liquidate their positions to coverlosses elsewhere. Spot Gold edged up half a percent to$1,768.60 an ounce, on course for a third straight week of rises
GOLD EDGES UP AS ITALY FEAR EASES; EUROPE WORRIES LINGER
Market
watch
U.S. Crude oil futures settled at their highest level in 15 weeks will be rehired to carry out the liquidation of the firm. The CMEon Friday as investors cheered efforts by Italy and Greece to Group Inc will provide a $300 million guarantee to prod MFtackle their political and debt problems, and on positive U.S. Global's bankruptcy trustee into releasing customer funds. Dueconsumer sentiment. U.S. Crude rose for the seventh time in to the federal Veterans Day holiday, release of the weeklyeight days as the developments in Europe pushed the euro to trader positions report from the Commodity Futures Tradingtwo-week highs against the dollar, further encouraging risk Commission was delayed until Monday.trade in equities and commodities. Americans became more
FUNDAMENTALS
hopeful about the U.S. economic outlook in November, pushingOn the New York Mercantile Exchange, December Crudeconsumer sentiment to a five-month high, though they still havesettled at $98.99 a barrel, up $1.21, or 1.24 percent, highest fora gloomy view of personal finances. Also aiding Crude futures,a front-month contract since July 26. It gained $4.73 or 5.02NYMEX December heating oil closed at the highest perch for apercent for the week and extended gains for a sixth straightfront-month contract since May, extending gains after the mid-week.week government inventory report showed distillate stocks fellsharply by 6.0 million barrels last week. Oil options trading wasfocused on the call side of the ledger and December position
UPCOMING DATA/EVENTS
cleanup before expiration on Nov. 15 as the U.S. Crude marketAPI weekly petroleum stocks data, 4:30 p.m. EST (2130took aim at the psychologically important level of $100 a barrel.GMT) on TuesdayIn other market news, bankrupt MF Global fired all 1,066 of itsbrokerage employees and its bankruptcy trustee said up to 200
CRUDE AT 15-WK HIGH ON EUROPE HOPES
Market
watch
Copper edged up on Friday after Italian and Greek politicians China's imports surged in October as exports grew at theirmoved to form unity governments to champion the measures slowest rate in months, suggesting efforts to tilt the economyneeded to tackle the euro zone debt crisis, but lingering worries towards domestic demand may be offsetting the externalover a global economic slowdown will keep investors cautious. weakness that has dragged on economic growth this year.Three-month Copper on the London Metal Exchange rose 0.7 Striking workers at Peru's No. 3 Copper mine Cerro Verdepercent to $7,530 a tonne, after falling to a two-week low and exchanged labor contract proposals with companyending down 2 percent previously. It is headed for a fall of 4 representatives on Thursday, in a sign that both sides could findpercent on the week, its second such loss in a row. The most-a way out of a six-week-old wage dispute. The ShFEactive January Copper contract on the Shanghai Futures announced on Thursday it was raising trading margins ofExchange rose 1.4 percent, to 55,610 Yuan ($8,763.14) per Copper and aluminium by 1 percent, to 9 percent for Coppertonne, also after touching a two-week low on Thursday and and 7 percent for aluminium.closing down 5.4 percent. The contract is down 6.3 percent onthe week. Italy moved closer to a national unity government onThursday, following Greece's lead in seeking a respectedveteran technocrat to pilot painful economic reforms in a bid toavert a euro zone bond market meltdown.
COPPER UP; ITALY, GREECE ON TRACK TO FORM UNITY GOVTS
Market
watch
DateTimeCurrencyEconomic Data ForecastPrevious
MonNov 1414th-18th USD Mortgage Delinquencies 8.44%TueNov 156:30pm USD FOMC Member Evans Speaks7:00pm USD Core Retail Sales m/m 0.2% 0.6%7:00pm USD PPI m/m -0.1% 0.8%7:00pm USD Retail Sales m/m 0.3% 1.1%7:00pm USD Core PPI m/m 0.2% 0.2%7:00pm USD Empire State Manufacturing Index -2.0 -8.58:30pm USD Business Inventories m/m 0.2% 0.5%11:00pm USD FOMC Member Fisher SpeaksWedNov 167:00pm USD Core CPI m/m 0.1% 0.1%7:00pm USD CPI m/m 0.0% 0.3%7:30pm USD TIC Long-Term Purchases 63.4B 57.9B7:45pm USD Capacity Utilization Rate 77.7% 77.4%7:45pm USD Industrial Production m/m 0.5% 0.2%8:30pm USD NAHB Housing Market Index 17 189:00pm USD Crude Oil Inventories -1.4MThuNov 177:00pm USD Building Permits 0.60M 0.59M7:00pm USD Unemployment Claims 397K 390K7:00pm USD Housing Starts 0.61M 0.66M8:30pm USD Philly Fed Manufacturing Index 9.3 8.79:00pm USD Natural Gas Storage 37B11:20pm USD FOMC Member Dudley SpeaksFriNov 186:45pm USD FOMC Member Dudley Speaks8:30pm USD CB Leading Index m/m 0.5% 0.2%SatNov 19Tentative USD Treasury Currency Report
 
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GOLD
Week : 14th to 18th Nov'2011
COMEX Gold is in a technically consolidating oncharts. Last week COMEX Gold was trading onupside and closed near to its week high. In thecoming week 1650$ will act as a major support inCOMEX Gold and 1840$ will act as a majorresistance.
MARKET OVERVIEW
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1780 $ an ounce, thenabove1805 $ it can test the level of 1820$/1835$/1855$ $ an ounce. And in MCX Gold above 29080 it can test the levelof 29280/29480/29680. Trade by keeping the strict stop losses.Major support for COMEX Gold in the coming week is 1700$ and 1600$.Major resistance for COMEX Gold in the coming week is 1840$ and 1900$Major support in MCX Gold is 28000and 27100
STRATEGYWEEKLY PIVOTS
ScriptLevels
R3R2R1PPS1S2S31911184418161776174817081640
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SILVER
Week : 14th to 18th Nov'2011
Expert
Observation
[ 4 ][ 5 ]
COMEX Silver is technically in a slightly upward forshort term. Last week COMEX Silver was trading ina range for the whole week. For the upcoming week3000$ and 2800$ are the crucial supports and3800$ and 4100$ are crucial resistance in COMEXSilver. In MCX Silver, 62000 and 65000 will act asmajor resistance and 52000 and 48000 will act asmajor supports.
MARKET OVERVIEW
Technically COMEX Silver is consolidating on charts. For the next week traders can use buy on lower level strategy ifSilver sustains above the level of 3530$ an ounce, then above 3560$ COMEX Silver can test the level of 3660/3720$an ounce. And in MCX Silver sustains above 58300 then it can test the level of 59200/60500, Trade by keeping theproper stop losses.
STRATEGYWEEKLY PIVOTS
ScriptLevels
R3R2R1PPS1S2S33882366035643438334232162994
Expert
Observation

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