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- Copper is poised for the first weekly gain
- Zinc, tin and lead also rose
- Gold swung between advances and declines
- Dollar strengthened against a six-currency basket
- Crude oil rose above 91.5$
- Natural gas futures climbed to a 13-week high
Copper is poised for the first weekly gain in four after
exports by China, the top user of the industrial metal, grew more than
expected, adding to signs of the global economic recovery. Zinc, tin and lead
also rose. Gold swung between advances and declines before a report that is forecast
to show the U.S. labor market improved, damping expectations for further
stimulus and boosting the dollar. Silver fell. The dollar strengthened against
a six-currency basket before the report that may show U.S. employers added more
jobs in February. West Texas Intermediate oil headed for the first weekly gain
in three weeks. Brent crude’s premium to New York futures narrowed as a North
Sea pipeline network resumed five days after it was shut because of a leak.
Technical View:
GOLD(APR)
Trend • Consolidate
Strategy • Sell on high
Resistance • R2 - 29950
• R1 - 29680
support • S1 - 29150
• S2 - 28850
SILVER(MAY)
Trend • Consolidate
Strategy • Sell on high
Resistance • R2 -57750
• R1 -55870
support • S1 - 53350
• S2 - 52200
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