BULLION:
Gold prices gained in Asia on Friday with minutes from the Bank of Japan casting a shadow on easy monetary policies. The Bank of Japan board had a sharp debate on whether to follow some European central banks and add negative interest rates to its aggressive monetary easing program, leading to a tight 5 to 4 vote on adopting the new policy, the minutes of the bank's Jan. 28-29 meeting released Friday showed.
Gold prices gained in Asia on Friday with minutes from the Bank of Japan casting a shadow on easy monetary policies. The Bank of Japan board had a sharp debate on whether to follow some European central banks and add negative interest rates to its aggressive monetary easing program, leading to a tight 5 to 4 vote on adopting the new policy, the minutes of the bank's Jan. 28-29 meeting released Friday showed.
BASE METAL:
LME copper should narrowly range
USD 5,000-5,080/mt during Asian trading hours Friday. Both LME and SHFE copper
saw big gains overnight with positions growing thanks to rate decision by US
Fed. Base metals are expected to continue rising today on market optimism.
Recent February CPIs from Eurozone and Germany mean inflation Eurozone
weakened. This bodes ill for Germany’s February PPI.
ENERGY:
Crude oil prices gained smartly in Asia on Thursday with investors noting more effort by key producers to cap output and as they digested a cautious outlook by the Fed and turning to weekly rig count data at the end of the week. Investors mostly expected to see a bullish supply report after the American Petroleum Institute reported a build of 1.5 million barrels on Tuesday evening. OPEC and non-OPEC producers will meet in Doha on April 17 to discuss a deal aimed at capping output at levels from the start of the year.
Crude oil prices gained smartly in Asia on Thursday with investors noting more effort by key producers to cap output and as they digested a cautious outlook by the Fed and turning to weekly rig count data at the end of the week. Investors mostly expected to see a bullish supply report after the American Petroleum Institute reported a build of 1.5 million barrels on Tuesday evening. OPEC and non-OPEC producers will meet in Doha on April 17 to discuss a deal aimed at capping output at levels from the start of the year.
BULLION & ENERGY
| CS GOLD (APRIL) OVERVIEW: | ||
 |
TREND : BULLISH
RESIST 2: 30160
RESIST 1: 29750
SUP 1: 29190
SUP 2: 28920
STRATEGY: BUY ON DIPS | |
| CS SILVER (MAY) OVERVIEW: | ||
 |
TREND : BULLISH
RESIST 2: 39260
RESIST 1: 38800
SUP1: 37230
SUP2: 36870
STRATEGY : BUY ON DIPS | |
| CS CRUDE OIL (MARCH) OVERVIEW: | ||
 |
TREND : BULLISH
RESIST 2:2900
RESIST 1:2860
SUP1:2720
SUP2:2675
STRATEGY: BUY ON DIPS | |
| CS NATURAL GAS (MARCH) OVERVIEW: | ||
 |
| |
BASE METAL
| CS COPPER (APRIL) OVERVIEW: | |
 |
TREND :
BULLISH
RESIST
2:346
RESIST
1:344
SUP1:339
SUP2:336
STRATEGY: BUY ON DIPS |
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