BULLION:
Gold dipped in Asia on Thursday while silver jumped as investor views diverged on the direction of interest rates ahead of U.S. jobs data at the end of the week. On the Comex division of the New York Mercantile Exchange, gold for April delivery fell 0.14% to $1,240.00 a troy ounce. Gold likely gained support at $1,063.20, the low from January 4 and was met with resistance at $1,260.80, the high from Feb. 11.
Gold dipped in Asia on Thursday while silver jumped as investor views diverged on the direction of interest rates ahead of U.S. jobs data at the end of the week. On the Comex division of the New York Mercantile Exchange, gold for April delivery fell 0.14% to $1,240.00 a troy ounce. Gold likely gained support at $1,063.20, the low from January 4 and was met with resistance at $1,260.80, the high from Feb. 11.
BASE METAL:
LME copper is expected to trade
at highs of USD 4,750-4,800/mt during Asian trading hours Thursday. The open of
NPC & CPPCC boost expectation for pro-growth measures in China. US
manufacturing PMI stayed below 50 for three months in a row in January, but new
order index returned above 50 and hit the highest since August 2015. US durable
goods orders grew more than expected in January. As such, US January factory
orders will see improvement as well.
ENERGY:
Crude prices gained further in Asia on Thursday as investors shrugged off bearish U.S. inventory reports. Saudi government approached a group of U.S. banks to discuss a major international loan that could approach $10 billion, according to a report from Reuters. In December, Saudi Arabia projected an annual deficit of 326.2 billion riyals ($87 billion) due primarily to the downturn in oil prices.
Crude prices gained further in Asia on Thursday as investors shrugged off bearish U.S. inventory reports. Saudi government approached a group of U.S. banks to discuss a major international loan that could approach $10 billion, according to a report from Reuters. In December, Saudi Arabia projected an annual deficit of 326.2 billion riyals ($87 billion) due primarily to the downturn in oil prices.
BULLION & ENERGY
| CS GOLD (APRIL) OVERVIEW: | |
 |
TREND : BEARISH
RESIST 2: 29770
RESIST 1: 29500
SUP 1: 28950
SUP 2: 28570
STRATEGY: SELL ON RISE |
| CS SILVER (MAY) OVERVIEW: | |
 |
TREND : BEARISH
RESIST 2: 37100
RESIST 1: 36700
SUP1: 36000
SUP2: 35670
STRATEGY : SELL ON RISE |
| CS CRUDE OIL (MARCH) OVERVIEW: | |
 |
TREND :BULLISH
RESIST 2:2450
RESIST 1:2400
SUP1:2320
SUP2:2280
STRATEGY: BUY ON DIPS |
| CS NATURAL GAS (MARCH) OVERVIEW: | |
 |
TREND : BEARISH
RESIST 2:119
RESIST 1:117
SUP1:111
SUP2:109
STRATEGY: SELL ON RISE |
BASE METAL
| CS COPPER (APRIL) OVERVIEW: | |
 |
TREND
:BULLISH
RESIST
2:332
RESIST
1:330
SUP1:325
SUP2:322
STRATEGY: BUY ON DIPS |
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