2. NEWS RADAR
Gold futures climbed sharply higher in the US on Wednesday after a
report showed that the country’s advance GDP contracted by 0.1
percent in the fourth quarter, the first drop since 2009.Gold for April
delivery on the Comex division of the New York Mercantile
Exchange was last up $17.80 at $1,680.50 per ounce, which is
about $14 higher than before the GDP figure was announced.“This
number is really shocking – it’s a huge disappointment considering
the massive stock rally that we’ve seen over the past couple weeks.
I guess it’s safe to say that economy isn’t quite as strong and the
some equity bulls would lead you to believe,” a US-based gold
trader said.Gold's gains on Tuesday came as "the market grew
more optimistic that the Fed would stay the course," Standard Bank
analyst Marc Ground said in a note.The most actively traded
contract, for February delivery, was recently up $10.30, or 0.6%, at
$1,663.20 a troy ounce on the Comex division of the New York
Mercantile Exchange.
TRADING TIPS EXPERT OPINION
GOLD LOOKS BEARISH
SELL GOLD BELOW 1673 TGS SILVER LOOKS BULLISH
1667/1661 SL 1679 CRUDE LOOKS BEARISH
BUY SILVER ABOVE 32.10 COPPER LOOKS BEARISH
TGS 32.35/32.60 SL 31.85 NGAS LOOKS BEARISH
SELL COPPER BELOW 3.7250 LEAD LOOKS BEARISH
TGS 3.7050/3.6850 SL NICKEL LOOKS BEARISH
3.7450 ALUMINIUM LOOKS BEARISH
SELL CRUDE BELOW 97.30 ZINC LOOKS BEARISH
TGS 96.90/96.50 SL 97.70
3. GOLD HOURLY CHART
S1 S2 R1 R2
1669 1663 1681 1687
GOLD LOOKS BEARISH ,SELL AROUND 1673.00
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 1667.00 LEVEL AND
MAINTAINING SL OF 1680.00
4. SILVER HOURLY CHART
S1 S2 R1 R2
31.70 31.40 32.30 32.60
SILVER LOOKS BULLISH ,SELL AROUND 32.10 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 32.35 LEVEL AND MAINTAINING SL
OF 31.85
5. COPPER HOURLY CHART
S1 S2 R1 R2
3.7215 3.7015 3.7615 3.7815
COPPER LOOKS BEARISH ,SELL AROUND 3.7250
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 3.7050 LEVEL AND
MAINTAINING SL OF 3.7450
6. CRUDE OIL HOURLY CHART
S1 S2 R1 R2
97.30 96.90 98.10 98.50
CRUDE LOOKS BEARISH ,SELL AROUND 97.30
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 96.90 LEVEL AND
MAINTAINING SL OF 97.70
7. MARKET STATISTICS
OPEN HIGH LOW CLOSE
GOLD 1663.73 1683.66 1662.57 1657.63
SILVER 31.35 32.26 31.22 32.01
CRUDE 97.34 98.22 97.32 97.99
COPPER 3.6790 3.7440 3.6723 3.7360
NGAS 3.256 3.339 3.256 3.333
ALUMINIUM 2061.13 2107.76 2059.63 2098.01
LEAD 2407.25 2456.38 2404.63 2443.88
NICKEL 17855.00 18381.00 17807.50 18328.00
ECONOMIC CALENDAR
DATE CURRENCY FORECAST PREVIO
US
Feb 1 GBP Manufacturing PMI 51.0 51.4
Feb 1 USD Non-Farm Employment Change 161K 155K
Feb 1 USD Unemployment Claims 7.8% 7.8%
Feb 1 USD ISM Manufacturing PMI 50.8 50.7
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