BULLION:
Gold dipped in Asia on Monday as investors took a breather ahead of Federal Reserve review of interest rates this week expected to hold steady, but with the tone of the statement key. Gold for April delivery on the Comex division of the New York Mercantile Exchange fell 0.46%, to $1,253.60 a troy ounce. Offsetting the gain, official data released over the weekend showed that China's factory output in the first two months of the year slowed to the weakest level since November 2008.
Gold dipped in Asia on Monday as investors took a breather ahead of Federal Reserve review of interest rates this week expected to hold steady, but with the tone of the statement key. Gold for April delivery on the Comex division of the New York Mercantile Exchange fell 0.46%, to $1,253.60 a troy ounce. Offsetting the gain, official data released over the weekend showed that China's factory output in the first two months of the year slowed to the weakest level since November 2008.
BASE METAL:
LME copper should drop from highs
and move between USD 4,920-5,000/mt during Asian trading hours Monday due to
poor economic figures released last weekend. SHFE 1605 copper is expected to
range between RMB 37,400-38,000/mt on Mar. 14 and spot discounts will narrow to
RMB 0-80/mt against SHFE 1603 copper. China’s new RMB loans and M2 in February
both slowed MoM.
ENERGY:
Crude eased in Asia on Monday as downbeat factory data from China at the weekend still offset a surprise spike in Japan core machinery orders. On Monday, the Organization of Petroleum Exporting Counties will publish its monthly assessment of oil markets. Oilfield services provider Baker Hughes said late Friday that the number of rigs drilling for oil in the U.S. decreased by six last week to 386, the 12th straight weekly decline and the lowest level since 2009.
Crude eased in Asia on Monday as downbeat factory data from China at the weekend still offset a surprise spike in Japan core machinery orders. On Monday, the Organization of Petroleum Exporting Counties will publish its monthly assessment of oil markets. Oilfield services provider Baker Hughes said late Friday that the number of rigs drilling for oil in the U.S. decreased by six last week to 386, the 12th straight weekly decline and the lowest level since 2009.
BULLION & ENERGY
| CS GOLD (APRIL) OVERVIEW: | ||
 |
TREND : SIDEWAYS
RESIST 2: 30100
RESIST 1: 29890
SUP 1: 29100
SUP 2: 28820
STRATEGY: BUY ON DIPS | |
| CS SILVER (MAY) OVERVIEW: | ||
 |
TREND : BEARISH
RESIST 2: 38200
RESIST 1: 38000
SUP1: 37100
SUP2: 36650
STRATEGY : SELL ON RISE | |
| CS CRUDE OIL (MARCH) OVERVIEW: | ||
 |
TREND :BULLISH
RESIST 2:2670
RESIST 1:2620
SUP1:2500
SUP2:2470
STRATEGY: BUY ON DIPS | |
| CS NATURAL GAS (MARCH) OVERVIEW: | ||
 |
| |
BASE METAL
| CS COPPER (APRIL) OVERVIEW: | |
 |
TREND
:BEARISH
RESIST 2:344
RESIST
1:340
SUP1:333
SUP2:330
STRATEGY: SELL ON RISE |
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