HIGH LIGHTS:-
Gold prices dip slightly in Asia as G-20 eyed for policy coordination.
Brent, NYMEX weaker in Asia with U.S. markets shut for holiday.
LME Copper to See Range-Bound Trading.
PRECIOUS METALS:-
Gold drifted lower in Asia on Monday with comments from the G-20 summit in China eyed for global coordination on monetary and fiscal policies.
Gold for December delivery on the Comex division of the New York Mercantile Exchange fell 0.12% to $1,326.50 a troy ounce. Coming up this week, the European Central Bank meeting on Thursday will be closely watched for a monetary stimulus to boost inflation and prop up the economy, while the U.S. reports service sector growth in a shortened trading week with the markets shut on Monday for a holiday. |
PRECIOUS LEVEL
CS GOLD (OCT) OVERVIEW:
TREND : BEARISH
RESIST 2: 31300
RESIST 1: 31200
SUP 1: 30500
SUP 2: 30300
RESIST 2: 31300
RESIST 1: 31200
SUP 1: 30500
SUP 2: 30300
CS SILVER (SEPTEMBER) OVERVIEW:
TREND : BULLISH
RESIST 2: 46600
RESIST 1: 46380
SUP1: 45250
SUP2: 44480
RESIST 2: 46600
RESIST 1: 46380
SUP1: 45250
SUP2: 44480
BASE METALS:-
LME copper should range between USD 4,615-4,655/mt on Monday and SHFE 1611 copper will move at RMB 36,350-36,700/mt.The market will continue to absorb US August non-farm employment data and the LMCI this week. The European Central Bank will hold interest rate policy for September this Thursday. US financial markets will be closed on Monday due to the Labor Day. Nonferrous metals are expected to strengthen early this week, boosted by zinc.
The number of US seasonally adjusted non-farm employment was 151,000, falling short of the 180,000 expected, compared to 255,000 for July. US unemployment rate stabilized at 4.9%. Monthly salaries per hour rose 0.1%, and annualized rate was up 2.4%, both falling short of market expectations.
The number of US seasonally adjusted non-farm employment was 151,000, falling short of the 180,000 expected, compared to 255,000 for July. US unemployment rate stabilized at 4.9%. Monthly salaries per hour rose 0.1%, and annualized rate was up 2.4%, both falling short of market expectations.
BASE METAL LEVELS
CS COPPER (NOVEMBER) OVERVIEW:
TREND : BEARISH
RESIST 2:316
RESIST 1:314
SUP1:309
SUP2:307
RESIST 2:316
RESIST 1:314
SUP1:309
SUP2:307
CS NICKEL (SEPTEMBER) OVERVIEW:
TREND :BULLISH
RESIST 2:693
RESIST 1:680
SUP1:660
SUP2:650
RESIST 2:693
RESIST 1:680
SUP1:660
SUP2:650
CS ZINC (SEPTEMBER) OVERVIEW:
TREND :BULLISH
RESIST 2:159.00
RESIST 1:158.00
SUP1:156.30
SUP2:155.50
RESIST 2:159.00
RESIST 1:158.00
SUP1:156.30
SUP2:155.50
CS LEAD (SEPTEMBER) OVERVIEW:
TREND : BULLISH
RESIST 2:131.50
RESIST 1:130.50
SUP1:128.00
SUP2:127.20
RESIST 2:131.50
RESIST 1:130.50
SUP1:128.00
SUP2:127.20
CS ALUMINIUM (SEPEMBER) OVERVIEW:
TREND : BEARISH
RESIST 2:108.00
RESIST 1:106.80
SUP1:105.50
SUP2:104.70
RESIST 2:108.00
RESIST 1:106.80
SUP1:105.50
SUP2:104.70
ENERGIES:-
Crude prices drifted turned weaker in Asia on Monday in an expected light trading day with the U.S. and Canada on public holidays with comments out of the G-20 summit in China eyed for demand cues.On the New York Mercantile Exchange, crude oil for delivery in October dipped 0.07% to $44.12 a barrel. On the ICE Futures Exchange in London, Brent oil for November delivery dropped 0.81% to $46.45 a barrel.
In the week ahead, oil traders will be focusing on U.S. stockpile data on Wednesday and Thursday for fresh supply-and-demand signals. The reports come out one day later than usual because of Monday's Labor Day holiday. |
ENERGY LEVELS
CS CRUDE OIL (SEPTEMBER) OVERVIEW:
TREND : BEARISH
RESIST 2:3020
RESIST 1:3000
SUP1:2880
SUP2:2850
RESIST 2:3020
RESIST 1:3000
SUP1:2880
SUP2:2850
CS NATURAL GAS (SEPTEMBER) OVERVIEW:
TREND :BEARISH
RESIST 2:192.00
RESIST 1:190.00
SUP1:185.00
SUP2:183.00
RESIST 2:192.00
RESIST 1:190.00
SUP1:185.00
SUP2:183.00
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