BULLIONS WEEKLY REPORT
05 AUGUST 2013
MARKET DATA
GOLD
Gold continued to ease after the markets passed this week’s central bank meetings. With global inflation under control and major central banks standing pat there was no support for the yellow metal. Gold fell for a fifth session today, heading for its biggest weekly loss in a month as strong U.S. data raised fears of an early end to the Federal Reserve’s stimulus measures. U.S. factory activity jumped to a two-year high in July and first-time applications for jobless benefits hit a 5-1/2-year low last week, supporting views that the Fed could start tapering its $85 billion monthly stimulus later this year.
SILVER
Silver rose 146 points today to trade at 19.770 as traders took advantage of the low price and lower dollar to grab up the shiny metal. Silver diverged from gold which fell over $10 to trade near $1300. Metals capped the biggest two-day rally since early May after the Federal Reserve maintained bond purchases and manufacturing unexpectedly expanded in China, the world’s largest user of the metal. U.S. data have taken on heightened significance as investors prepare for any indication that the Federal Reserve will start winding down its $85-billion-a-month bond buying program.
CRUDE OIL
Crude Oil eased a bit after climbing in the morning to trade well above $108, crude is down 45 cents trading at 107.44. Oil futures gained after news that the number of people who applied last week for new unemployment benefits fell to the lowest level since early 2008. Initial jobless claims dropped by 19,000 to a seasonally adjusted 326,000. And the Institute for Supply Management said its July manufacturing index surged to a reading of 55.4%, the highest level since June 2011. Further, robust economic data from US increased the expectations among the investors that the demand for the crude oil may go up.
NATURAL GAS
Natural Gas gained 5 points to trade at 3.393 as traders took advantage of recent declines to buy the commodity on the cheap. NYMEX Natural Gas prices decreased by 1.71 percent in yesterday’s trading session on the back of strong dollar index as the dollar eased today Natural Gas prices found a bit of support. Further, milder weather forecast, added downside pressure on the prices, as it may slow down the demand for air conditioning.
TECHNICAL VIEW
GOLD WEEKLY PIVOT POINT
SCRIPT R2 R1 PP S1 S2
GOLD 29807 29146 28349 27688 26891
WEEKLY OUTLOOK
TREND BULLISH
R1 28674
R2 29400
S1 27099
S2 26914
STRATEGY BUY ON DIPS
GOLD WEEKLY
SILVER WEEKLY PIVOT POINT
SCRIPT R2 R1 PP S1 S2
SILVER 43711 42872 41761 40923 39812
WEEKLY OUTLOOK
TREND BULLISH
R1 43700
R2 44975
S1 39340
S2 38375
STRATEGY BUY ON DIPS
SILVER WEEKLY
CRUDE OIL WEEKLY PIVOT POINT
SCRIPT R2 R1 PP S1 S2
CRUDE OIL 6899 6710 6448 6259 5997
WEEKLY OUTLOOK
TREND BULLISH
R1 6710
R2 6899
S1 6110
S2 5950
STRATEGY BUY ON DIPS
NATURAL GAS
WEEKLY PIVOT POINT
SCRIPT R2 R1 PP S1 S2
NATURAL GAS 217 211 207 202 198
WEEKLY OUTLOOK
TREND BEARISH
R1 218
R2 221
S1 197
S2 194
STRATEGY SELL ON RISE
NATURAL GAS WEEKLY
DISCLAIMER
The information and views in this report, our website & all the service we provide are believed to be reliable, but we do Company not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Use of this report in no way constitutes a client/advisor relationship, all information we communicate to you (the subscriber) either through our Web site or other forms of communications, are purely for informational purposes only. We recommend seeking individual investment advice before making any investment, for you are assuming sole liability for your investments. Capital Stars will in no way have discretionary authority over your trading or investment accounts. All rights reserved.
MOB: +91 92000 99927
PHONE: +91 731 6662200
Email: info@capitalstars.com
05 AUGUST 2013
MARKET DATA
GOLD
Gold continued to ease after the markets passed this week’s central bank meetings. With global inflation under control and major central banks standing pat there was no support for the yellow metal. Gold fell for a fifth session today, heading for its biggest weekly loss in a month as strong U.S. data raised fears of an early end to the Federal Reserve’s stimulus measures. U.S. factory activity jumped to a two-year high in July and first-time applications for jobless benefits hit a 5-1/2-year low last week, supporting views that the Fed could start tapering its $85 billion monthly stimulus later this year.
SILVER
Silver rose 146 points today to trade at 19.770 as traders took advantage of the low price and lower dollar to grab up the shiny metal. Silver diverged from gold which fell over $10 to trade near $1300. Metals capped the biggest two-day rally since early May after the Federal Reserve maintained bond purchases and manufacturing unexpectedly expanded in China, the world’s largest user of the metal. U.S. data have taken on heightened significance as investors prepare for any indication that the Federal Reserve will start winding down its $85-billion-a-month bond buying program.
CRUDE OIL
Crude Oil eased a bit after climbing in the morning to trade well above $108, crude is down 45 cents trading at 107.44. Oil futures gained after news that the number of people who applied last week for new unemployment benefits fell to the lowest level since early 2008. Initial jobless claims dropped by 19,000 to a seasonally adjusted 326,000. And the Institute for Supply Management said its July manufacturing index surged to a reading of 55.4%, the highest level since June 2011. Further, robust economic data from US increased the expectations among the investors that the demand for the crude oil may go up.
NATURAL GAS
Natural Gas gained 5 points to trade at 3.393 as traders took advantage of recent declines to buy the commodity on the cheap. NYMEX Natural Gas prices decreased by 1.71 percent in yesterday’s trading session on the back of strong dollar index as the dollar eased today Natural Gas prices found a bit of support. Further, milder weather forecast, added downside pressure on the prices, as it may slow down the demand for air conditioning.
TECHNICAL VIEW
GOLD WEEKLY PIVOT POINT
SCRIPT R2 R1 PP S1 S2
GOLD 29807 29146 28349 27688 26891
WEEKLY OUTLOOK
TREND BULLISH
R1 28674
R2 29400
S1 27099
S2 26914
STRATEGY BUY ON DIPS
GOLD WEEKLY
SILVER WEEKLY PIVOT POINT
SCRIPT R2 R1 PP S1 S2
SILVER 43711 42872 41761 40923 39812
WEEKLY OUTLOOK
TREND BULLISH
R1 43700
R2 44975
S1 39340
S2 38375
STRATEGY BUY ON DIPS
SILVER WEEKLY
CRUDE OIL WEEKLY PIVOT POINT
SCRIPT R2 R1 PP S1 S2
CRUDE OIL 6899 6710 6448 6259 5997
WEEKLY OUTLOOK
TREND BULLISH
R1 6710
R2 6899
S1 6110
S2 5950
STRATEGY BUY ON DIPS
NATURAL GAS
WEEKLY PIVOT POINT
SCRIPT R2 R1 PP S1 S2
NATURAL GAS 217 211 207 202 198
WEEKLY OUTLOOK
TREND BEARISH
R1 218
R2 221
S1 197
S2 194
STRATEGY SELL ON RISE
NATURAL GAS WEEKLY
DISCLAIMER
The information and views in this report, our website & all the service we provide are believed to be reliable, but we do Company not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Use of this report in no way constitutes a client/advisor relationship, all information we communicate to you (the subscriber) either through our Web site or other forms of communications, are purely for informational purposes only. We recommend seeking individual investment advice before making any investment, for you are assuming sole liability for your investments. Capital Stars will in no way have discretionary authority over your trading or investment accounts. All rights reserved.
MOB: +91 92000 99927
PHONE: +91 731 6662200
Email: info@capitalstars.com
0 Comments