COMEX

ST

REPORT

REPORT
1 MARCH 2013

NEWS RADAR
Gold futures jumped to a one-week high Tuesday as investors stepped in after the Federal Reserve chief indicated the central bank's bondbuying program would continue.The most actively traded contract, for April delivery, rose 28.90, or 1.8%, to settle at $1,615.50 a troy ounce on the Comex division of the New York Mercantile Exchange, the highest ending price since Feb. 14.In remarks to Congress, Ben Bernanke signaled that the Fed would continue its bond-buying programs, arguing that the benefits of the policies outweighed the risks. Gold tends to benefit from such easy-money policies, as investors seek the metal as a hedge against the inflation that may follow the increased liquidity in the financial system.Gold had slumped to a sevenmonth low last week as investors cashed out on speculation that the Fed would cut short its easing effort.

TRADING bargain EXPERT OPINION "It was more than TIPS hunting," George Gero, a vice president and precious metals strategist with RBC Capital Markets, said of gold's rise. SELL GOLD AROUND 1583 GOLD LOOKS BEARISH Investors, he said in a note, were closing out bets on lower prices on TGS 1577/1571 SL 1589 SILVER LOOKS the view that Mr. Bernanke's comments pointed toward BEARISH and low rates SELL SILVER AROUND 28.75 CRUDE OIL LOOKS BEARISH stimulus until the labor market improves. But traders viewed Mr. TGS 28.55/28.35 SL on Tuesday as an indication that a course change COPPER LOOKS BEARISH Bernanke's testimony 28.95 SELL COPPER AROUND NGAS LOOKS BEARISH from the Fed isn't imminent, said Kurt Pfafflin, a senior broker with 3.5580 TGS in Chicago. Daniels Trading 3.5380/3.5180"We've got an LEAD LOOKS BEARISH this is a oversold market, and NICKEL LOOKS BEARISH relief SL 3.5780 rally."
SELL CRUDE BELOW 92.40 TGS 92.20/92.00 SL 92.60 ALUMINIUM LOOKS BEARSIH ZINC LOOKS BEARISH

Gold had traded as low as $1,583.70 a troy ounce ahead of the testimony.

GOLD HOURLY CHART

S1 1582

S2 1576

R1 1594

R2 1600

GOLD LOOKS BEARISH SELL AROUND 1604.00 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 1598.00 LEVEL AND MAINTAINING SL OF 1610.60

SILVER HOURLY CHART

S1 28.68

S2 28.48

R1 29.08

R2 29.28

SILVER LOOKS BEARISH SELL AROUND 28.95 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 28.75 LEVEL AND MAINTAINING SL OF 29.15

COPPER HOURLY CHART

S1 3.5440

S2 3.5240

R1 3.5840

R2 3.6040

COPPER LOOKS BEARISH SELL BELOW 3.5525 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 3.5325 LEVEL AND MAINTAINING SL OF 3.5725 0

CRUDE OIL HOURLY CHART

S1 94.50

S2 94.30

R1 94.90

R2 95.10

CRUDE LOOKS BEARISH SELL AROUND 94.50 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 94.10 LEVEL AND MAINTAINING SL OF 94.90

MARKET STATISTICS
OPEN GOLD SILVER CRUDE COPPER NGAS ALUMINIUM LEAD NICKEL 1613.68 29.37 92.69 3.5705 3.445 2027.13 2310.75 16710.50 HIGH 1614.58 29.40 93.35 3.5758 3.549 2033.26 2325.25 16730.00 LOW 1592.16 28.83 92.17 3.5415 3.403 2006.88 2301.75 16663.00 CLOSE 1596.43 28.98 92.81 3.5540 3.414 2017.76 2311.00 16732.00

ECONOMIC CALENDAR
DATE Mar 1 Mar 1 CURRENCY GBP USD Manufacturing PMI ISM Manufacturing PMI FORECAST 51.0 52.7 PREVIOUS 50.8 53.1

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