Comex: 7 February 2013
Comex: 7 February 2013
Comex: 7 February 2013
tH
REPORT
REPORT
7 FEBRUARY 2013
NEWS RADAR
Gold futures started New York trading with a positive tilt on Tuesday after the euro managed to claw back some of the significant losses accrued during yesterdays session.Still, the yellow metal still faces stiff resistance on the climb to $1,700 per ounce.Gold for April delivery on the Comex division of the New York Mercantile Exchange was last up $6.70 at $1,683.10 per ounce.Gold remains range-bound, Standard Bank said in a note. The metal seems caught between the real economy and the monetary economy. Growing economic confidence is capping upside for the metal, while monetary easing is adding support.Recent indicators have pointed to an US economy on the mend, it argued. This perceived improvement led to the strong rally in equities in January that dampened safe-haven demand, which had been such a major factor in the bull market over the past five years.
TRADING TIPS
SELL GOLD BELOW 1666 TGS 1660/1654 SL 1672 SELL SILVER BELOW 31.59 TGS 31.34/31.09 SL 31.84 SELL COPPER BELOW 3.7280 TGS 3.7080/3.6880 SL 3.7680 SELL CRUDE BELOW 95.85 TGS 95.45/95.05 SL 96.25
EXPERT OPINION
GOLD LOOKS BEARISH SILVER LOOKS BEARISH
CRUDE OIL LOOKS BEARISH
NGAS LOOKS BULLISH LEAD LOOKS BEARISH NICKEL LOOKS BEARISH ALUMINIUM LOOKS BEARISH ZINC LOOKS BEARISH
S1 1662
S2 1656
R1 1674
R2 1680
GOLD LOOKS BEARISH SELL AROUND 1666.00 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 1660.00 LEVEL AND MAINTAINING SL OF 1672.00
S1 31.30
S2 31.00
R1 31.90
R2 32.20
SILVER LOOKS BEARISH SELL AROUND 31.59 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 31.34 LEVEL AND MAINTAINING SL OF 31.84
S1 3.7130
S2 3.6930
R1 3.7530
R2 3.7730
COPPER LOOKS BEARISH SELL AROUND 3.7280 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 3.7080 LEVEL AND MAINTAINING SL OF 3.7480 0
S1 95.60
S2 95.20
R1 96.40
R2 96.80
CRUDE LOOKS BEARISH SELL AROUND 95.85 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 95.45 LEVEL AND MAINTAINING SL OF 96.25
MARKET STATISTICS
OPEN GOLD SILVER CRUDE COPPER NGAS ALUMINIUM LEAD NICKEL 1674.05 31.73 96.11 3.7538 3.325 2111.38 2447.88 18590.00 HIGH 1684.70 32.08 97.05 3.7720 3.423 2119.63 2467.88 18750.00 LOW 1666.46 31.59 95.89 3.7460 3.314 2098.38 2433.00 18474.50 CLOSE 1672.07 31.77 96.64 3.7638 3.416 2115.01 2460.88 18731.50
ECONOMIC CALENDAR
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