BULLION:
Gold prices edged lower in Asia on Monday as policymakers in China at the weekend sought to reassure on the economic outlook, though the central bank chief advised caution on overseas borrowing. Gold for April delivery on the Comex division of the New York Mercantile Exchange ticked down 0.03% to $1,253.90 a troy ounce. The Fed scaled back forecasts for how high interest rates will rise this year following the conclusion of its policy meeting on Wednesday.
Gold prices edged lower in Asia on Monday as policymakers in China at the weekend sought to reassure on the economic outlook, though the central bank chief advised caution on overseas borrowing. Gold for April delivery on the Comex division of the New York Mercantile Exchange ticked down 0.03% to $1,253.90 a troy ounce. The Fed scaled back forecasts for how high interest rates will rise this year following the conclusion of its policy meeting on Wednesday.
BASE METAL:
LME copper is expected to trade at highs of USD
5,020-5,080/mt during Asian trading hours Monday. SHFE 1605 copper will range
RMB 37,900-38,400/mt on Mar. 21 and spot discounts of RMB 160- 220/mt are
expected against SHFE 1604 copper. Markets expect the flash manufacturing PMI
in euro zone to be disappointing this week. Limited positive effect is expected
from the looser monetary policies decided by the ECB in March.
ENERGY:
Crude oil prices fell further in Asia on Monday as investors await clarity on prospects for a freeze in output by major producers and the outlook on China demand. The U.S. benchmark reversed gain in late trade after oilfield services provider Baker Hughes said Friday that the number of rigs drilling for oil in the U.S. increased by one last week to 387, ending three straight months of weekly declines. According to Qatari oil minister Mohammed Bin Saleh Al-Sada, producers from within and outside OPEC will meet in Doha on April 17 to discuss plans for a freeze in output.
Crude oil prices fell further in Asia on Monday as investors await clarity on prospects for a freeze in output by major producers and the outlook on China demand. The U.S. benchmark reversed gain in late trade after oilfield services provider Baker Hughes said Friday that the number of rigs drilling for oil in the U.S. increased by one last week to 387, ending three straight months of weekly declines. According to Qatari oil minister Mohammed Bin Saleh Al-Sada, producers from within and outside OPEC will meet in Doha on April 17 to discuss plans for a freeze in output.
BULLION & ENERGY
| CS GOLD (APRIL) OVERVIEW: | ||
 |
TREND : BEARISH
RESIST 2: 29620
RESIST 1: 29430
SUP 1: 28940
SUP 2: 28630
STRATEGY: SELL ON RISE | |
| CS SILVER (MAY) OVERVIEW: | ||
 | ||
| CS CRUDE OIL (MARCH) OVERVIEW: | ||
 |
TREND : BEARISH
RESIST 2:2830
RESIST 1:2780
SUP1:2680
SUP2:2620
STRATEGY: SELL ON RISE | |
| CS NATURAL GAS (MARCH) OVERVIEW: | ||
 |
| |
BASE METAL
| CS COPPER (APRIL) OVERVIEW: | |
 |
TREND :
SIDEWAYS
RESIST
2:342
RESIST
1:340
SUP1:335
SUP2:334
STRATEGY:
BUY ON DIPS
|
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