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1. 17 NOV – 21 NOV 2014
W E E K L Y
R
E
P
O
R
T
Blow by Blow
On
Bullions,
Base metals,
Energy…
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2. MAJOR EVENTS
Gold futures jumped, capping the biggest two-day gain since June, as an oil rally
damped concern that inflation will remain low and revived demand for the metal as a
store of wealth. Silver surged the most in nine months.
Aggregate gold trading more than doubled compared with the 100-day average for
this time, according to data compiled by Bloomberg. Today, an option wager on a
price rebound to $1,200 an ounce surged as much as fivefold, while Brent crude
jumped as much as 2.9 percent.
Gold futures for December delivery rose 2.1 percent to settle at $1,185.60 at 1:38
p.m. on the Comex in New York. Earlier, the price reached $1,192.90, the highest for a
most-active contract since Oct. 31. In two days, the price climbed 2.3 percent, the
most since June 20.
Total volume rose to an estimated 315,276 contracts, the seventh time this year
trading topped 300,000. Yesterday, aggregate open interest climbed to the highest
since May 22, 2013.
Brent advanced on speculation that the drop in prices below $80 a barrel for the first
time in four years increases the likelihood that OPEC will curb output. West Texas
Intermediate rose the most in more than two months. Futures gained 2.5 percent in
London and 2.2 percent in New York. OPEC ministers have stepped up their
diplomatic visits before the group’s Nov. 27 meeting, potentially seeking a consensus
on how to react to oil prices that have plunged to a four-year low. Prices may slide
further in the coming months as the market enters a period of weaker demand, the
International Energy Agency said today.
Oil has collapsed into a bear market after leading members of the Organization of
Petroleum Exporting Countries resisted calls to cut production and the U.S. shale
boom lifted output to the highest level in three decades. Brent posted its eighth
weekly decline, the longest retreat since the contract began trading in 1988.
Brent falling below $80 yesterday and WTI falling below $74 has certainly gotten the
attention of OPEC.
Oil Rises as Price
Plunge Puts
Pressure on OPEC
to Act.
Copper Caps
Biggest Gain in
Two Months on
U.S. Confidence.
Copper futures capped the biggest gain in two months as consumer confidence
reached a seven-year high in the U.S., the world’s second-biggest consumer of the
metal. Improving sentiment signals gains for American spending and demand for
appliances and electronics that use copper wiring.
The gains for confidence are “good for the economy, and good for the industrial
complex as a whole”. Copper futures for March delivery rose 1.7 percent to settle at
$3.0385 a pound at 1:18 p.m. on the Comex in New York, the biggest gain since Sept.
16.
Prices closed unchanged for the week amid concerns that demand will slow in China,
the top metals consumer. That nation’s factory production in October grew at its
second weakest pace since 2009, government figures showed yesterday. As strong as
the U.S. is supposed to be, it doesn’t really matter. China is just so much bigger for
incremental and overall use. On the London Metal Exchange, copper for delivery in
three months climbed 0.7 percent to $6,705 a metric ton ($3.04 a pound) on the
London Metal Exchange.Zinc, nickel and lead also rose in London, while aluminum and
tin fell.
Gold Futures Post
Biggest Two-Day
Rally Since June.

3. E C O N O M I C C A L E N D E R
DATE & TIME DESCRIPTION FORECAST PREVIOUS
Nov 17 7:00pm Empire State Manufacturing Index 12.1 6.2
7:45pm Capacity Utilization Rate 79.3% 79.3%
7:45pm Industrial Production m/m 0.2% 1.0%
Nov 18 7:00pm PPI m/m -0.1% -0.1%
7:00pm Core PPI m/m 0.2% 0.0%
8:30pm NAHB Housing Market Index 55 54
Nov 19 12:00am FOMC Member Kocherlakota Speaks
2:30am TIC Long-Term Purchases 41.3B 52.1B
7:00pm Building Permits 1.04M 1.02M
7:00pm Housing Starts 1.03M 1.02M
9:00pm Crude Oil Inventories -1.7M
Nov 20 12:30am FOMC Meeting Minutes
6:15pm FOMC Member Tarullo Speaks
7:00pm CPI m/m -0.1% 0.1%
7:00pm Core CPI m/m 0.2% 0.1%
7:00pm Unemployment Claims 286K 290K
8:15pm Flash Manufacturing PMI 56.2 55.9
8:30pm Philly Fed Manufacturing Index 18.9 20.7
8:30pm Existing Home Sales 5.16M 5.17M
8:30pm CB Leading Index m/m 0.6% 0.8%
9:00pm Natural Gas Storage 40B
Nov 21 12:00am FOMC Member Mester Speaks

4. S1 S2 S3 R1 R2 R3
26135 25585 25160 26710 27125 27650
S1 S2 S3 R1 R2 R3
35200 33490 31000 37220 39150 41000
T E C H N I C A L V I E W
MCX GOLD showed sideways
movement in whole week except last
trading session which broke the
resistance level of 26000 and found
resistance around 26500. Now, if it
able to maintains above 26600 then
next resistance level is seen around
the physiological level of 27000. On
other hand if it sustain below 26000
then again drag upto the support level
of 25200.
S T R A T E G Y
Better strategy in MCX GOLD is to buy
above 26600 for the target of 27000-
27500 with stop loss of 25500.
PIVOT TABLE
G O L D
PIVOT TABLE
S I L V E R
T E C H N I C A L V I E W
MCX SILVER on daily charts showed
sharp upward movement on last
trading session and gave breakout of
psychological level of 35000 and found
resistance around 36250. Now, 37000
will act as immediate resistance for it
above which trendline breakout
expected will lead it upto 38000. On
lower side closing below 35000 will
again drag it towards the support
range of 34000-33000.
S T R A T E G Y
Better strategy in MCX SILVER at this
point of time is to buy above 36500 for
target of 37500, with stop loss of 34900.

5. C R U D E O I L
C O P P E R
S1 S2 S3 R1 R2 R3
4520 4400 4250 4695 4840 5005
S1 S2 S3 R1 R2 R3
411.25 405.10 398.45 417.25 423.35 429.85
T E C H N I C A L V I E W
MCX Copper last week broke the
support level of 413 and found the
support of trendline but unable to
sustain below it and reverted from the
trendline. Now, 410 is seen as
immediate support for it below which
it drag towards strong support of 403
and may test lower band of channel
i.e. 395. On higher side 418 will act as
vital resistance for it above which 425
is next resistance level.
S T R A T E G Y
Better strategy in MCX CRUDEOIL is to
sell below 4600 for the targets of 4400,
with stop loss of 4850.
PIVOT TABLE
T E C H N I C A L V I E W
MCX Crude oil last week showed
bearish movement and gave breakout
of 4690 and took the support of 4525.
Now, if it breaks the support level of
4550 and closed below it then it is in
weak zone and may find next support
around 4450. If some correction occurs
and maintains above 4750 then 4920
will act as immediate resistance for it.
S T R A T E G Y
Better strategy in MCX COPPER is to buy
above 420, with stop loss of 407 for the
targets of 430.
PIVOT TABLE

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