BULLION:
Gold posted modest gains in Asia on Tuesday ahead of remarks by Fed chief Janet Yellen to set the tone ahead of the April rate meeting. Gold for June delivery on the Comex division of the New York Mercantile Exchange rose 0.17% to $1,224.00 a troy ounce. The Federal Reserve uses core PCE as a tool to help determine whether to raise or lower interest rates, with the aim of keeping inflation at a rate of 2% or below.
Gold posted modest gains in Asia on Tuesday ahead of remarks by Fed chief Janet Yellen to set the tone ahead of the April rate meeting. Gold for June delivery on the Comex division of the New York Mercantile Exchange rose 0.17% to $1,224.00 a troy ounce. The Federal Reserve uses core PCE as a tool to help determine whether to raise or lower interest rates, with the aim of keeping inflation at a rate of 2% or below.
BASE METAL:
SHFE 1605 copper will stay firm
and range RMB 37,700-38,000/mt on Mar. 29. US economic figures issued overnight
show no improvement in inflation. US dollar hence fell back, supporting copper prices.
LME copper will hover between USD 4,960-5,000/mt during Asian trading hours
Tuesday. LME market reopens on Tuesday and diverging trend should intensify for
base metals prices today.
ENERGY:
Overnight, crude futures were relatively flat on Monday in thin post-Holiday trading. 10 major producers, Algeria, Iraq, Kuwait, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela, Oman and Russia, which drill more than 37.2 million barrels per day combined, have committed to the meeting. Another seven nations, Angola, Ecuador, Indonesia, Mexico, Kazakhstan, Azerbaijan and Norway, representing approximately 7 million bpd in production, remain uncommitted.
Overnight, crude futures were relatively flat on Monday in thin post-Holiday trading. 10 major producers, Algeria, Iraq, Kuwait, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela, Oman and Russia, which drill more than 37.2 million barrels per day combined, have committed to the meeting. Another seven nations, Angola, Ecuador, Indonesia, Mexico, Kazakhstan, Azerbaijan and Norway, representing approximately 7 million bpd in production, remain uncommitted.
BULLION & ENERGY
| CS GOLD (APRIL) OVERVIEW: | ||
 |
TREND : BEARISH
RESIST 2: 28820
RESIST 1: 28600
SUP 1: 28290
SUP 2: 28000
STRATEGY: SELL ON RISE | |
| CS SILVER (MAY) OVERVIEW: | ||
 |
TREND : BEARISH
RESIST 2: 37240
RESIST 1: 37000
SUP1: 36270
SUP2: 36000
STRATEGY : SELL ON RISE | |
| CS CRUDE OIL (MARCH) OVERVIEW: | ||
 |
TREND : BEARISH
RESIST 2:2720
RESIST 1:2690
SUP1:2600
SUP2:2580
STRATEGY: SELL ON RISE | |
| CS NATURAL GAS (MARCH) OVERVIEW: | ||
 |
| |
BASE METAL
| CS COPPER (APRIL) OVERVIEW: | |
 |
TREND :
BEARISH
RESIST
2:337
RESIST
1:333
SUP1:328
SUP2:326
STRATEGY:
SELL ON RISE |
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