WEEKLY LATEST UPDATES Gold bulls weathered rising U.S. interest rates, record-high equity markets and an improving global economy to push the metal to its best year since 2010 Bullion futures on the Comex in New York jumped 13 percent in 2017 for a second straight annual gain. Other measures of the metal also defied the interest-rate odds: Holdings in exchange-traded funds backed by bullion advanced for a second year, as did the net-long position in the metal held by hedge funds and other large speculators. Gold benefited as declines in the dollar fueled demand for alternative assets, while geopolitical tensions and uncertainty over the impact of a new U.S. tax plan boosted the appeal of havens. That helped cushion the blow from a surge in equities and the Fed s campaign to tighten monetary policy, which can make non-interest-bearing assets such as gold less competitive. As the price of oil rises, heavily-hedged shale drillers may find it harder to meet investor demands for payback, boosting the value of producers that haven t locked in returns for future When West Texas Intermediate breached $60 a barrel, it was good news generally for U.S. shale producers. But the higher the price, the less gain will come to companies that hedged their production as crude held below $55 for 10 months of the year.
WEEKLY MARKET WRAPUP COMMODITY OPEN HIGH LOW CLOSE GOLD SILVER CRUDEOIL ZINC LEAD ALUMINIUM COPPER NICKEL 30763 30792 30395 30469 37954 39313 37954 39268 4034 4109 3961 4095 231.00 232.65 226.00 228.70 158.55 163.30 158.00 159.55 139.60 145.95 138.50 143.30 460 471.55 459.70 465.90 765 791.90 756.20 783.80
TECHNICAL CHARTS & RESEARCHER VIEW MCX GOLD MAR 2018 PIVOT POINT 30,949 30,709 30,552 30,312 30,155
TRADING STRATEGY: MCX Gold during this week prices as expected moved downward. Gold MAR contract now looking further bearish on weekly chart. For the next week we expect gold prices to find Resistance in range of 30300 levels. Below 30350 levels, the strong Support is at 30220 levels. Support is in the range of 29060 levels. Below 29060 the strong Support is at 28870 levels. RECOMMENDATION: SELL GOLD BELOW 30350 TGT 30100 SL 30600
MCX CRUDEOIL MAR 2017 WEEKLY PIVOT LEVEL PIVOT POINT 4,203 4,149 4,055 4,001 3,907
TRADING STRATEGY: MCX CRUDEOIL during this week prices as expected moved Upside. Crude Oil MAR contract now looking further bullish on weekly chart. For the next week we expect Crude oil prices to find resistance in range of 4110 levels. Above 4110 levels, the strong resistance is at 4170 levels. Support is in the range of 4000 levels. Below 3907 the strong support is at 3950 levels. RECOMMENDATION: CRUDE OIL BUY ABOVE 4120 TGT 4160 SL 4090
MCX ZINC FEB 2017 WEEKLY PIVOT LEVEL PIVOT POINT 235.77 232.23 229.12 225.58 222.47
TRADING STRATEGY: MCX ZINC traded with Positive bias in the previous session. ZINC FEB contract now looking further bullish on weekly chart. For the next week we expect zinc prices to find Support in range of 225.60 levels. Below 225.60 levels, the strong Support is at 222.00 levels. Resistance is in the range 232.80 levels. Above 232.80 the strong Resistance is at 235 levels. RECOMMENDATION: BUY ZINC JAN ABOVE 232.70 TGT 234.70 SL 230.90
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