MARKET WRAP
- Crude fell, trimming the biggest weekly increase
- Gold futures fell 0.7 percent to $1,451.8
- Silver futures for July delivery dropped 1.9 percent
- Natural gas fell in New York for the fourth time in five days.
Crude fell, trimming the biggest weekly increase since
June, as the U.S. economy grew less than expected in the first quarter. Gold
futures fell 0.7 percent to $1,451.80 an ounce on the Comex in New York,
erasing earlier gains after the U.S. economy grew less than forecast in the
first quarter. Silver futures for July delivery dropped 1.9 percent to $23.725
an ounce on the Comex. Natural gas fell in New York for the fourth time in five
days, heading for the first weekly drop since February, on speculation that
fuel demand will slump after a shot of unusually cold weather next week.
TECHNICAL VIEW
GOLD
(APR)
Trend
• Consolidate
Strategy
• Sell on high
Resistance
• R2 - 27980 ; R1 - 27550
support • S1 – 26750 ; S2 – 26280
support • S1 – 26750 ; S2 – 26280
SILVER
(MAY)
Trend • Bearish
Trend • Bearish
Strategy
• Sell on high
Resistance •
R2 - 46750 ; R1 - 45870
support • S1 - 44350 ; S2 – 43200
support • S1 - 44350 ; S2 – 43200
LEAD
(APR)
Trend
• Consolidate
Strategy
• Sell on high
Resistance •
R2 - 115.5 ; R1 -
112.8
support • S1 - 109.3 ;S2 – 107.3
support • S1 - 109.3 ;S2 – 107.3
ZINC
(APR)
Trend
• Consolidate
Strategy
• Sell on high
Resistance •
R2 - 106.3 ; R1 - 103.5
support • S1 - 99.3 ; S2 - 97.5
support • S1 - 99.3 ; S2 - 97.5
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