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Gold:
Gold may gain on concern about European sovereign debts and
rising holdings in exchange-traded funds. Nineteen of 26
traders, investors and analysts surveyed said bullion would rise
next week. Six forecast lower prices and one was neutral. Gold
will trade in $1145-$1180 range in resistance levels and
$1124-$1086 in supports.
Silver:
Silver is
substantially higher. We expect more volatility in Silver than
Gold. Silver support is at $16.48 and $16.17, with resistance at
$17.46 and $18.01.
Crude:
Fifteen of 40 analysts said oil will increase through
March 12. Fifteen more respondents predicted that futures will
decline. Ten said there will be little change in prices. Next
week Market will trade in range bound in Crude depending on
Inventory. Above $80 is best buying levels for the Targets of
$85-$87. Some corrections in the Market can be seen to $78-76.
Copper: Continued strength
in most base metals prices has occurred ahead of improving
fundamentals. Anticipation of an improved international economic
environment is likely to remain a powerful factor limiting any
pull back in the Copper prices to 348.00-363.00 levels.
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MCX Gold APR: Now support for the Gold is seen at 16830 and
below could see a test of 16725-16485. Resistance is now likely
to be seen at 17015, a move above could see prices testing
17185-17360.
S1:16830 S2:16725 S3:16485
R1:17015 R2:17185 R3:17360
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MCX Crude Oil MAR: Now
support for the Crude is seen at 3610 and below could see a test
of 3426. Resistance is now likely to be seen at 3746, a move
above could see prices testing 3800-3950.
S1:3610 S2:3505 S3:3426
R1:3746 R2:3800 R3:3950 |
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MCX Silver MAY: Now support for the silver is seen at 26675
and below could see a test of 25800. Resistance is now likely to
be seen at 27150, a move above could see prices testing
27475-27925.
S1:26675 S2:26251 S3:25800
R1:27150 R2:27475 R3:27925
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MCX Copper APR: Now
support for the Copper is seen at 328.65 and below could see a
test of 312.70. Resistance is now likely to be seen at 342.95, a
move above could see prices testing 363.00
S1:328.65 S2:323.25 S3:312.70
R1:342.95 R2:348.00 R3:363.00 |
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MCX Zinc MAR: Now support for the Zinc is seen at 101.85 and
below could see a test of 98.65-95.00. Resistance is now likely
to be seen at 106.75, a move above could see prices testing
108.80-113.95.
S1:101.85 S2:98.65 S3:95.00
R1:106.75 R2:108.80 R3:113.95
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26
Analysts Surveyed about Next week Gold Position.
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|
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Upcoming
Important Data Reports |
|
MAR
9th:
IBD/TIPP Economic Optimism:
Previous: 46.8%, Forecast: 48.9%
Actual > Forecast = Good for Dollar |
MAR
10th:
Crude Oil Inventories:
Previous: 4.1M, Forecast: 1.5
Actual > Forecast = Good for Dollar |
|
MAR
11th:
Trade Balance:
Previous: -40.2B, Forecast: -40.8B
Actual > Forecast = Good for Dollar |
MAR
11th:
Unemployment Claims:
Previous: 469K, Forecast: 453K
Actual < Forecast = Good for Dollar |
|
MAR
11th:
Core Retail Sales m/m:
Previous: 0.6%, Forecast: 0.1%
Actual > Forecast = Good for Dollar |
MAR
11th:
Retail Sales m/m:
Previous: 0.5%, Forecast: -0.1%
Actual > Forecast = Good for Dollar |
|
MAR
11th:
Prelim UoM Consumer Sentiment:
Previous: 73.6%, Forecast: 74.0%
Actual > Forecast = Good for Dollar |
MAR
11th:
Business Inventories m/m:
Previous: -0.2%, Forecast: 0.2%
Actual < Forecast = Good for Dollar |
