BULLION:
Gold dropped in Asia on Monday as investors digested U.S. jobs data from last week for cues on the next Fed move on interest rates. Gold for April delivery on the Comex division of the New York Mercantile Exchange eased 0.79% to $1,260.60 a troy ounce. Prices of the red metal have been well-supported in recent weeks amid mounting expectations for further stimulus measures from central banks in Europe and Asia.
Gold dropped in Asia on Monday as investors digested U.S. jobs data from last week for cues on the next Fed move on interest rates. Gold for April delivery on the Comex division of the New York Mercantile Exchange eased 0.79% to $1,260.60 a troy ounce. Prices of the red metal have been well-supported in recent weeks amid mounting expectations for further stimulus measures from central banks in Europe and Asia.
BASE METAL:
LME copper will see more gains this coming week on prevailing bullish sentiment, SMM sees. LME copper is expected to increase to USD 4,970-5,020/mt during Asian trading hours Monday supported by optimistic sentiment. The ECB will release the result of its March interest rate meeting. In the past one year, manufacturing industry in euro zone posted modest recovery, which however, is not steady. The fall in manufacturing PMI in recent 2 months triggers worries in market.
ENERGY:
Crude oil prices rose further in Asia on Monday as investors kept a possible deal on a production freeze in focus. At the weekend, China outlined growth and other aims for the economy at an annual meeting of senior leaders that signaled GDP growth of 6.5%, or above. Developments surrounding a potential deal between OPEC and non-OPEC producers to cap output will also be in focus. Oilfield services provider Baker Hughes said late Friday that the number of rigs drilling for oil in the U.S. decreased by eight last week to 392, the 11th straight weekly decline and the lowest level since 2009.
Crude oil prices rose further in Asia on Monday as investors kept a possible deal on a production freeze in focus. At the weekend, China outlined growth and other aims for the economy at an annual meeting of senior leaders that signaled GDP growth of 6.5%, or above. Developments surrounding a potential deal between OPEC and non-OPEC producers to cap output will also be in focus. Oilfield services provider Baker Hughes said late Friday that the number of rigs drilling for oil in the U.S. decreased by eight last week to 392, the 11th straight weekly decline and the lowest level since 2009.
BULLION & ENERGY
| CS GOLD (APRIL) OVERVIEW: | |
 |
TREND : BULLISH
RESIST 2: 30100
RESIST 1: 29950
SUP 1: 29400
SUP 2: 29190
STRATEGY: BUY ON DIPS |
| CS SILVER (MAY) OVERVIEW: | |
 |
TREND : BULLISH
RESIST 2: 38250
RESIST 1: 37900
SUP1: 36900
SUP2: 36340
STRATEGY : BUY ON DIPS |
| CS CRUDE OIL (MARCH) OVERVIEW: | |
 |
TREND :BULLISH
RESIST 2:2470
RESIST 1:2420
SUP1:2330
SUP2:2280
STRATEGY: BUY ON DIPS |
| CS NATURAL GAS (MARCH) OVERVIEW: | |
 |
TREND : BEARISH
RESIST 2:116
RESIST 1:114
SUP1:109
SUP2:107
STRATEGY: SELL ON RISE |
BASE METAL
| CS COPPER (APRIL) OVERVIEW: | |
 |
TREND :BULLISH
RESIST 2:345
RESIST 1:340
SUP1:331
SUP2:328
STRATEGY: BUY ON DIPS |
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