Gold / Silver / Copper futures - weekly outlook: January 27 - 31

         Gold futures ended Friday’s session at a nine-week high, as steep losses in U.S. equities and emerging market currencies boosted the safe haven appeal of the precious metal.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery hit a session high of USD1,273.20 a troy ounce on Friday, the strongest level since November 20, before trimming gains to settle at USD1,264.30, up 0.16%. 

Comex gold prices rallied 1.91% on Thursday to settle at USD1,262.30 a troy ounce as investors fleeing risk in emerging markets saw gold as an attractive venue.

Gold futures were likely to find support at USD1,230.80 a troy ounce, the low from January 23 and near term resistance at USD1,275.70, the high from November 20. 

On the week, the February Comex gold contract added 1.67%, the fifth consecutive weekly increase and the longest run of weekly gains in 16 months.

A broad based selloff in financial markets Friday spurred safe haven demand, prompting investors to move money out of equities and into gold. U.S. stocks suffered their worst week since 2011, with the Dow plunging 318 points on Friday.

Market sentiment was hit by concerns over a slowdown in China after data on Thursday showed that the preliminary reading of the HSBC manufacturing index fell to a six-month low in January.

Meanwhile, a selloff in emerging markets accelerated on Friday, after the Turkish lira fell to the latest in a series of record lows against the dollar. South Africa’s rand, the Russian ruble and the Argentine peso all fell to multi-year lows against the greenback.

Emerging market currencies have been hard hit since the Federal Reserve announced plans last month to begin scaling back its asset purchase program.

Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers raised their bullish bets in gold futures in the week ending January 21.

Gross long gold positions declined by 179 contracts to 113,823, while gross short positions fell by 255 lots to 70,470. Net longs totaled 43,353 contracts, compared to 43,277 in the preceding week.

In the week ahead, Wednesday’s outcome of the Federal Reserve’s monthly meeting will be in focus amid expectations for a reduction to USD65 billion from the current USD75 billion in the bank’s stimulus program.

The policy-meeting will mark the last for outgoing Fed Chairman Ben Bernanke, as current Vice Chair Janet Yellen prepares to take over.

In addition, the initial estimate of U.S. fourth quarter gross domestic product is reported on Thursday.

Elsewhere on the Comex, silver for March delivery ended Friday’s session down 1.22% to close the week at USD19.76 a troy ounce. The March silver futures contract lost 2.66% on the week. 

Meanwhile, copper for March delivery slumped to a daily low of USD3.260 a pound on Friday, the weakest since December 11, before trimming losses to end at USD3.271 a pound, down 0.43%.

Prices of the industrial metal dropped 1.54% on Thursday to settle at USD3.285 a pound as downbeat manufacturing data out of China fuelled concerns over the strength of the world’s second largest economy and biggest consumer of the industrial metal.

Comex copper prices declined 2.18% on the week. - investing.com

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Gold Traders Uneasy – Spark Temporary Rally

  

                         Gold reacted quickly to Mr. Summer’s withdrawal of his nomination to head the FOMC. Gold climbed by $22.00 in the early morning session to trade at 1331.00. Exactly why a possible nomination is having such a huge market effect is an indication of the frayed nerves of commodity traders ahead of this week’s FOMC meet and possible taping. Syria weighed heavily on the markets over the last two weeks exhausting traders. Gold gained as the dollar dropped to the lowest level in a month after Lawrence Summers withdrew from consideration. Silver rallied from its worst week since June.

The U.S. and Russia held talks on a plan for Syria to surrender chemical weapons to avert a strike that could stoke Middle East tensions and announced a successful conclusion and a plan to move forward easing market tensions. The Federal Reserve is expected to announce its first move to taper its $85 billion in monthly bond buying when its two-day meeting ends Wednesday. While the Fed is seen curbing bond purchases by an initial $10 to $15 billion — a relative baby step compared to the massive amount of stimulus applied — it sends an important message that the Fed is moving toward a normalization of rates and expecting a more normal economy. While the Fed meeting in the week ahead tops the list, Congressional budget maneuvering and any developments on Syria will also get attention. The United Nations is expected to receive a report Monday which should show if Syria used chemical weapons on its citizens.

Silver is trading at 22.193 gaining 47 cents as the US dollar weakened to trade at 81.26 down by 42 points following cues from gold. The tonnage of silver bullion bars held by the US silver ETF increased around 30 tons or. 0.3 percent to 10,536.70 tons. Precious metals are expected to trade with a mixed note on the back of ease in concerns in QE tapering from Federal Reserve in its meeting during the week. The base metals pack on the LME traded on a negative note in the last week due to concerns regarding QE taper which could be announced in the FOMC meeting this week and mixed economic data from the advanced economies. However, weakness in the DX and decline in inventories prevented sharp decline in the base metals on the LME. Copper gained this morning as the US dollar tumbled. Copper prices on the LME slipped around 1.3 percent in last week and touched a low of $7024/ton on Friday. Prices declined during the later part of the week on the back of favorable economic data from US increased concerns of QE tapering from the Federal Reserve.

Further, decline in industrial production data from Euro Zone exerted downside pressure on prices. In the early part of the week, prices rose on account of positive economic data from Chinese economy. - Fxempire

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Gold and Silver Trade With No Direction

                    Gold is trading at 1573.85 this morning at the end of the Asian session. Gold closed on Monday at $1576 making very little headway since the end of the week. Gold declined on a weekly basis by 1.21% and the average rate reached $1,571.3 which was 1.88% below last week’s average rate. Gold ended the week at $1,575.5. Silverprices also fell during the previous week by 3.79%, furthermore, the average rate fell by 4.9% to reach $27.20 compared to last week’s average. This morning silver is trading at $27.273 following in gold’s shadow. The metals markets have been very quiet this so far this week following jobs data last Friday.

Last week, the U.S. Labor Department’s monthly report showed that the economy added only 88,000 jobs in March, the lowest monthly gain since last June and far below expectations. Economists surveyed by CNN Money had expected a gain of 190,000 jobs. The unemployment rate slipped to 7.6%, but that was also bad news because nearly 500,000 people dropped out of the labor market. This kind of gloomy snapshot sent investors rushing toward U.S. Treasuries, but the 10-year yield dropped to 1.7%, its lowest level since December 2012. Gold, which is also perceived to be a traditional safe haven, gained 1.5% at the end of the week, ending the COMEX session at the high for the day

Thursday night, the Japanese government halted trading in the Japanese 10 yr. bond which saw its yield first drop to .32%, then in a few hours it doubled to .65%. This set off circuit breakers and caused the authorities to halt trading. By closing time New York, the USD/yen currency cross bolted past the 97.00 price 97.51. The 10 year Japanese bond finished Friday night at .53% yield. This morning the JPY continued its climbed to break the 99 price level.

Billionaire investor George Soros and Bill Gross, who runs the world’s biggest bond fund, said the Bank of Japan’s currency debasement risks weakening the yen. Indeed, Soros has warned of a currency “avalanche”.

On Monday, the Bank of Japan began buying 1.2trillion yen of JGB which through the markets into turmoil and the Tokyo exchange was closed for a short period of time.  Later in the day on Monday Fed Chairman Bernanke had little to say that interested traders, although an ex-Fed member said that this year the Fed are prepared for the spring slow down and have held their monetary easing in place and will mostly likely continue their 85billion in monthly purchases through the summer at least. This possibility continues to keep gold and the US dollar trading fairly evenly.

Holdings in the SPDR Gold Trust gold-backed exchange traded fund, stood at 1205.31 tons by Apr 07, remains unchanged from the previous business day while silver backed exchange-traded fund iShares Silver Trust stood at 10497.59 tons by Apr 07, remains unchanged also. It seems precious metal traders are waiting for direction from the markets.

Courtesy : FxEmpire

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Crude-Oil Futures Rangebound Ahead of EIA Data

Crude-oil futures fell in Asian trading Wednesday, with investors limiting their activity ahead of data on stocks from the Energy Information Administration due later in the day.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in May traded at $96.65 a barrel at 0600 GMT, down $0.54 in the Globex electronic session. May Brent crude on London's ICE Futures exchange fell $0.38 to $110.31 a barrel.

"Before the EIA data, prices are likely to fluctuate in a narrow range...for now, focus is on the inventories," Ker Chung Yang, investment analyst at Phillip Futures in Singapore, said by telephone.

Investors are paying special attention to signs of increased stocks in the aftermath of that shutdown of Exxon Mobil's 95,000-barrel-a-day Pegasus pipeline in the U.S., which could increase already-bloated crude levels in the middle of the country.

While the stock build is bearish for Nymex, Brent prices were buoyed immediately after the Pegasus shutdown given the potential need for cross-Atlantic supplies at the pipeline's destination in Texas, on the U.S. Gulf coast.

Analysts forecast the EIA data to show an increase of 1.5 million barrels of crude oil last week, while gasoline stocks are seen dropping by 500,000 barrels.

American Petroleum Institute data released late Tuesday for the same period showed oil stocks rose 4.7 million barrels and gasoline stocks fell 5 million barrels.

The onset of the summer driving season will likely lend support to oil prices over the next few weeks, Phillip Futures' Mr. Ker said.

"Since the summer driving season is coming closer, stocks may be declining more than expected," he said.

In a report, Mirae Asset Securities tipped an upside target of $115 a barrel for Brent over the next few weeks, saying higher demand will drive the forecast gains.

Later this week, attention will turn to U.S. jobs numbers, which are due for release Friday and represent the most important data point of the week for commodities and energy markets. Bullish data are expected following recent indicators showing a recovery in U.S. employment.

Nymex reformulated gasoline blendstock for May--the benchmark gasoline contract--fell 80 points to $3.0328 a gallon, while May heating oil traded at $3.0831, 43 points lower.

ICE gasoil for April changed hands at $926.50 a metric ton, down $3.00 from Tuesday's settlement.

Write to Clementine Wallop at clementine.wallop@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Copyright © 2013 Dow Jones Newswires

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According to the Bank of Korea (BOK), country's foreign reserves reached $327.41 billion in March, up $10 million from the previous month.

SEOUL(BullionStreet): Asia's fourth largest economy, South Korea's forex reserves remained almost flat despite buying 20 tons of gold in February.

According to the Bank of Korea (BOK), country's foreign reserves reached $327.41 billion in March, up $10 million from the previous month.

Analysts said higher investment profits overshadowed the lower dollar conversion value of non-dollar assets held by the central bank.

In February, the BOK bought 20 tons of gold, raising the central bank's gold holdings to 104.4 tons valued at $4.79 billion.

Forex reserves reached $327.4 billion last month, the first fall in nine months after hitting a record high of $328.91 billion in January.

Foreign reserves consist of securities and deposits denominated in overseas currencies, along with International Monetary Fund reserve positions, special drawing rights and gold bullion.

The BOK said that the central bank logged higher management profits last month, but a stronger U.S. dollar lowered the conversion value of non-dollar assets.

Last month, the euro declined 2.4 percent to the U.S. dollar from a month earlier while the yen depreciated 2.1 percent per greenback.

But the British pound inched up 0.2 percent versus the dollar. Despite some fluctuations, the FX reserves have been on the rise, aided by the continued trade surplus and inflows of foreign capital.

South Korea remained world's seventh-largest holder of foreign exchange reserves.

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Natural Gas falls as forecasts finally call for warming trend

Natural Gas.....
Investing.com - Natural gas futures moved sideways in afternoon trading on Monday after weather forecasts pointed to warmer weather patterns settling in for the eastern half of the U.S. in the coming days.

On the New York Mercantile Exchange, natural gas futures for delivery in May traded at USD4.024 per million British thermal units, up 0.01%.

The commodity hit a session low of USD3.936 and a high of USD4.043.
Weather forecasting models that called for a chilly end to winter finally pointed to a thawing trend in the coming days.

MDA Weather Services forecasted above-normal temperatures to settle in for the eastern U.S. from April 6 through April 15, which allowed for choppy trading as investors digested how unseasonably cold weather that stuck around for most of March will give way to a return to springtime weather patterns.

Bullish inventory figures released late last week by the U.S. government gave natural gas some support.

The U.S. Energy Information Administration said in its weekly report on Thursday that natural gas storage in the U.S. in the week ended March 22 fell by 95 billion cubic feet, outpacing expectations for a drop of 87 billion cubic feet.

Total U.S. natural gas storage stood at 1,781 trillion cubic feet as of last week. Stocks were 642 billion cubic feet less than last year at this time and 61 billion cubic feet above the five-year average of 1.720 trillion cubic feet for this time of year.

The report showed that in the East Region, stocks were 41 billion cubic feet below the five-year average, following net withdrawals of 73 billion cubic feet. 

Stocks in the Producing Region were 30 billion cubic feet above the five-year average of 707 billion cubic feet after a net withdrawal of 17 billion cubic feet.

U.S. Elsewhere on the NYMEX, light sweet crude oil futures for delivery in May were down 0.25% and trading at USD96.98 a barrel, while heating oil futures for May delivery were up 0.88% at USD3.0738 per gallon.

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Gold inches higher, extends U.S. gains

Gold....
Investing.com - Gold futures are trading modestly higher in the early part of Tuesday’s Asian session, extending a small gain accrued during Monday’s U.S. session. 

On the Comex division of the New York Mercantile Exchange, gold futures for June delivery rose 0.01% to USD1,601.95 per troy ounce in Asian trading Tuesday after settling up 0.25% at USD1,599.65 a troy ounce in U.S. trading Monday. 

Gold futures were likely to test support USD1,591.95 a troy ounce, Wednesday's low, and resistance at USD1,608.85, Wednesday's high. 

Gold moved slightly higher Monday following two mixed U.S. data points. In U.S. economic news, the Institute for Supply Management's March index fell to 51.3 from 54.2 in February. Readings above 50 indicate expansion. Analysts had expected the index to remain unchanged at 54.2. 

In another report, data showed construction spending rose 1.2% in February topping analysts’ estimates calling for a 1% increase. 

Gold traded in a tight range Monday because several major European markets were closed in observance of the Easter holiday. European fears were mostly left out of the headlines today, but traders did pay some attention to the situation in North Korea. The country has recently levied harsh threats against the U.S. and South Korea. 

Traders are also eying Friday’s non-farm payroll for March from the U.S. Economists expect the world’s largest economy to show the addition of 200,000 jobs last month following a surprisingly strong February report that showed 236,000 new jobs were created. 

Elsewhere, Comex silver for May delivery added 0.42% to USD28.060 per ounce while copper for May delivery rose 0.07% to USD3.375 per ounce. Platinum for July delivery is off 0.06% at USD1,595.45 per ounce

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Oil falls following mixed U.S. data

Oil.......

Investing.com - Oil futures are trading slightly to the downside in Asia Tuesday as traders digest a pair of mixed data points from the U.S. that were delivered on Monday. 

On the New York Mercantile Exchange, light, sweet crude futures for May delivery fell 0.21% to USD96.86 per barrel in Asian trading Tuesday after settling down 0.62% at USD96.63 a barrel on Monday in the U.S. 

In U.S. economic news, the Institute for Supply Management's March index fell to 51.3 from 54.2 in February. Readings above 50 indicate expansion. Analysts had expected the index to remain unchanged at 54.2. 

In another report, data showed construction spending rose 1.2% in February topping analysts’ estimates calling for a 1% increase. The U.S. is the world’s largest oil consumer. 

Speaking of data points that could really move oil prices later this week, traders are awaiting Friday’s non-farm payroll for March from the U.S. Economists expect the world’s largest economy to show the addition of 200,000 jobs last month following a surprisingly strong February report that showed 236,000 new jobs were created. 

Elsewhere, Syria confirmed rebels there set fire to three oil wells in the eastern part of the country, causing the loss of 5,000 barrels per day in oil production and 52,000 cubic meters of natural gas per day. Media reports said the rebels have actually set nine wells ablaze, but it was not confirmed when the other six were ignited. 

The European Union country has sanctions on Syria, which is only a small oil exporter. 

Meanwhile, Brent futures for May deliver fell 0.03% to USD110.89 per barrel on the ICE Futures Exchange.

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MARCH-26th INTRADY LEVELS FOR MCX COMMODITY MARKET

26-MARCH-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	104.40	105.20	105.65	103.15	102.70	101.90
COPPER	419.15	421.20	423.15	415.15	413.20	411.15
CRUDEOIL	5198	5240	5281	5115	5074	5032
GOLD	29731	29875	30069	29393	29199	29055
LEAD	118.55	119.35	119.95	117.10	116.45	115.65
NATURALGAS	217.80	219.90	221.50	214.10	212.60	210.40
NICKEL	926.90	933.30	938.10	915.70	910.90	904.50
SILVER	54497	54781	55223	53771	53329	53045
ZINC	105.10	105.80	106.45	103.75	103.10	102.40

For More Details Please Visit WWW.MCXFREETIPS.COM

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MARCH-25th INTRADY LEVELS FOR MCX COMMODITY MARKET

25-MARCH-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	105.40	106.10	107.40	103.40	102.10	101.40
COPPER	421.10	422.95	425.90	416.30	413.35	411.50
CRUDEOIL	5106	5123	5149	5063	5037	5020
GOLD	29772	29867	29928	29616	29555	29460
LEAD	119.30	120.05	121.35	117.25	115.95	115.20
NATURALGAS	216.80	219.70	221.60	211.80	209.90	206.90
NICKEL	937.20	944.90	957.40	917.00	904.50	896.80
SILVER	54752	55379	55769	53735	53345	52718
ZINC	105.90	106.55	107.70	104.10	102.95	102.30

For More Details Please Visit WWW.MCXFREETIPS.COM

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MARCH-21st INTRADY LEVELS FOR MCX COMMODITY MARKET

21-MARCH-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	104.60	105.15	105.50	103.70	103.35	102.80
COPPER	419.00	420.85	423.55	414.45	411.75	409.90
CRUDEOIL	5116	5139	5165	5067	5041	5018
GOLD	29794	29906	29973	29615	29548	29436
LEAD	118.70	119.20	119.90	117.50	116.70	116.20
NATURALGAS	217.40	219.70	222.70	212.10	209.10	206.80
NICKEL	921.03	926.67	936.53	905.53	895.67	890.03
SILVER	54579	54827	54977	54181	54031	53783
ZINC	104.35	104.75	105.15	103.55	103.15	102.75

For More Details Please Visit WWW.MCXFREETIPS.COM

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MARCH-20th INTRADY LEVELS FOR MCX COMMODITY MARKET

20-MARCH-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	104.80	105.40	106.20	103.40	102.60	102.00
COPPER	415.75	418.65	420.60	410.90	408.95	406.05
CRUDEOIL	5143	5198	5231	5055	5022	4967
GOLD	30013	30155	30421	29605	29339	29197
LEAD	118.72	119.68	120.57	116.87	115.98	115.02
NATURALGAS	218.70	221.20	225.40	212.00	207.80	205.30
NICKEL	908.50	912.80	918.50	898.50	892.80	888.50
SILVER	54944	55182	55553	54335	53964	53726
ZINC	104.10	104.70	105.40	102.80	102.10	101.50

For More Details Please Visit WWW.MCXFREETIPS.COM

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MARCH-18th INTRADY LEVELS FOR MCX COMMODITY MARKET

18-MARCH-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	105.70	106.60	107.10	104.30	103.80	102.90
COPPER	426.75	429.90	431.65	421.85	420.10	416.95
CRUDEOIL	5074	5087	5107	5041	5021	5008
GOLD	29435	29511	29582	29288	29217	29141
LEAD	121.08	122.42	123.13	119.03	118.32	116.98
NATURALGAS	212.10	215.40	218.40	205.80	202.80	199.50
NICKEL	929.80	944.70	952.80	906.80	898.70	883.80
SILVER	54427	54663	54803	54051	53911	53675
ZINC	106.25	107.70	108.50	103.95	103.20	101.75

For More Details Please Visit WWW.MCXFREETIPS.COM

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Gold declines on rising risk appetite

        
               Gold futures are trading lower during Friday’s following the release of some more positive economic data points, which fueled another strong day for stocks there.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.13% to USD1,588.70 per troy ounce in Asian trading Friday after settling up 0.16% at USD1,590.90 a troy ounce in U.S. trading on Thursday.

Gold futures were likely to test support USD1,574.60 a troy ounce, Monday's low, and resistance at USD1,598.00, Wednesday's high.

In U.S. economic news, initial claims for jobless benefits fell last week by 10,000 to 332,000 claims. Analysts expected an increase to 350,000 claims. The less volatile four-week moving average fell by 2,750 to 346,750.

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MARCH-15th INTRADY LEVELS FOR MCX COMMODITY MARKET

15-MARCH-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	106.20	106.85	107.20	105.20	104.85	104.20
COPPER	427.90	429.70	430.75	425.25	424.20	422.50
CRUDEOIL	5048	5066	5084	5012	4994	4976
GOLD	29509	29630	29754	29264	29140	29019
LEAD	122.05	122.75	123.15	120.95	120.55	119.85
NATURALGAS	208.00	210.30	214.10	201.90	198.10	195.80
NICKEL	937.30	942.40	951.00	923.60	914.90	909.90
SILVER	54633	54976	55251	54015	53740	53397
ZINC	107.05	107.95	108.50	105.60	105.05	104.15

For More Details Please Visit WWW.MCXFREETIPS.COM

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MARCH-14th INTRADY LEVELS FOR MCX COMMODITY MARKET

14-MARCH-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	106.55	107.25	107.70	105.40	104.95	104.25
COPPER	429.50	431.25	432.60	426.40	425.05	423.30
CRUDEOIL	5074	5106	5136	5012	4982	4950
GOLD	29584	29680	29765	29403	29318	29222
LEAD	122.85	123.65	124.85	120.85	119.65	118.85
NATURALGAS	202.80	204.50	207.30	198.30	195.50	193.80
NICKEL	930.30	936.70	940.80	919.80	915.70	909.30
SILVER	55095	55432	55690	54500	54242	53905
ZINC	107.80	108.60	109.20	106.40	105.80	104.95

For More Details Please Visit WWW.MCXFREETIPS.COM

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MARCH-13th INTRADY LEVELS FOR MCX COMMODITY MARKET

13-MARCH-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	106.70	107.25	108.30	105.10	104.05	103.50
COPPER	431.05	433.80	437.40	424.70	421.10	418.35
CRUDEOIL	5070	5105	5149	4991	4947	4912
GOLD	29535	29626	29732	29338	29232	29141
LEAD	121.25	122.00	123.25	119.25	118.00	117.25
NATURALGAS	199.40	201.40	202.90	195.90	194.40	192.40
NICKEL	928.50	933.40	942.00	915.00	906.40	901.50
SILVER	55234	55525	55851	54617	54291	54000
ZINC	107.80	108.65	109.70	105.90	104.85	104.00

For More Details Please Visit WWW.MCXFREETIPS.COM

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MARCH-13th INTRADY LEVELS FOR MCX COMMODITY MARKET

12-MARCH-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	105.80	106.70	107.50	104.10	103.30	102.40
COPPER	427.60	429.60	432.55	422.65	419.70	417.70
CRUDEOIL	5010	5041	5069	4951	4923	4892
GOLD	29414	29507	29564	29264	29207	29114
LEAD	120.40	121.60	122.60	118.20	117.20	116.00
NATURALGAS	199.60	200.90	202.80	196.40	194.50	193.20
NICKEL	921.20	926.50	936.20	906.20	896.50	891.20
SILVER	54930	55266	55513	54347	54100	53764
ZINC	107.40	108.80	110.20	104.60	103.20	101.80

For More Details Please Visit WWW.MCXFREETIPS.COM

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Gold off slightly in early Asian trading

             

       Gold futures fell modestly in the early part of Monday’s Asian session following a small increase last week. 

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.07% to USD1,575.80 per troy ounce in Asian trading Monday. Last week, gold futures prices posted a modest 0.15% gain. 

Gold prices were likely to find support at USD1,554.80 a troy ounce, the low from February 21 and resistance at USD1,602.20, the high from February 28. 

With U.S. stocks soaring last week, demand for gold has waned as investors have embraced riskier assets. Last week, the S&P 500 advanced 2.2% and is now trading 1% away from its all-time high. For its part, the Dow Jones Industrial Average made a succession of record intraday highs last week. 

Gold futures came under pressure in the U.S. last Friday after the U.S. Department of Labor said the economy added 236,000 jobs in February, beating expectations for a 160,000 increase. The unemployment rate in the world’s largest economy also fell to 7.7% from 7.9%. 

On the bright side for gold bugs, an unemployment rate of 7.7% is still a far cry from 6.5%, the jobless rate where the Federal Reserve has said it will consider boosting U.S. interest rates. Higher interest rates would likely boost the U.S. dollar, in turn imperiling gold, which is denominated in greenbacks. 

U.S. Retail sales on Wednesday and the consumer price index data, due out Friday, will be among the data points traders watch this week. 

Elsewhere, silver for May delivery fell 0.09% to USD28.923 per ounce while copper dropped 0.37% to USD3.501 per ounce. 

Official data released over the weekend showed that consumer prices in China rose 3.2% in February from a year earlier, above expectations for a 3% increase and accelerating sharply from a 2% rate of increase in January. China is the world’s largest copper producer. - investing.com

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Gold higher ahead of U.S. jobs report

Gold futures are looking to end the week in strong fashion and are trading higher in the early of Friday’s Asian session ahead of the February non-farm payroll report due out from the U.S. Labor Department later today.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 0.21% to USD1,578.40 per troy ounce in Asian trading Friday. The yellow metal settled up 0.01% at USD1,575.10 a troy ounce in U.S. trading onThursday.

Gold futures were likely to test support USD1,566.80 a troy ounce, Wednesday's low, and resistance at USD1,1619.40, the high from Feb. 26.

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