GLOBAL PIVOTS – MONTHLY – FEB 2011 – Must print and keep with you :)

Chinese Demand For Gold Surges To Around 25% Global Production – Robert Lenzner

Chinese Demand For Gold Surges To Around 25% Global Production

Chinese Demand For Gold Surges To Around 25% Global Production

By : Robert Lenzner

Feb. 12 2011 – 7:31 am | 7,514 views | 0 recommendations | 0 comments

It’s hard to believe that ordinary Chinese citizens are responsible for an increase in gold imports to China– some 5 times larger than in the recent past. But, that is what the Financial Times of London reported this past week.

For one thing China is already the globe’s largest producer. So, it has its own domestic supply of gold. Also, it suggests that possibly the Chinese are utilizing far greater amounts of their savings to purchase gold, rather than increase domestic consumption. Or that official figures of Chinese wealth are being under-stated.

Gold prices have been in a consolidation phase, trading between $1325 an ounce and $1375 an ounce for the past few months, as the dollar has been somewhat stronger in reaction to improving statistics on the US economy.

Another positive for gold is last week’s recommendation from the IMF that $2 trillion in the form of a new international currency be created out of a weighted average of several currencies to begin the replacement of the dollar as the globe’s chief reserve currency.

Gold experts point out that the recent weakness in gold has hit the price of the small mining company shares worse than the majors as speculation in gold has quieted down. The speculative interests in gold futures on the Comex has been substantially reduced. And net redemptions in the ETF GLD, has reduced its gold holdings by $2 billion or almost 4%.

So, you might say that the Americans are slightly retreating from gold as the Chinese holdings show record increases.

LME Nickel IHNS formation target achieved @ $29000 – Daily – Update 16 Feb 2011

Dear Members,

As per my last email on 2 Feb 2011, Nickel has achieved the possible target of $29000 on 15 Feb 2010(High $29095). Enjoy whopping 21% return in almost 1 month.

Happy Trading.

LME Nickel IHNS formation target about to reach – update 02 Feb 2011

Nickel has on the way to reach out target of IHNS formation formed between Sep10 to Dec10 and final neckline breakout was on 19 Jan 2011 as indicated in attached chart with greater volumes, also the Australian flood and disrupted productions supported Nickel prices fundamentally.

Bloomberg News :

INDUSTRIAL METALS:

Copper in London Pares Gain to Record, Trades Little Changed

Copper for three-month delivery on the London Metal Exchange traded little changed at $9,944.25 a metric ton by 1:02 p.m. in Singapore, after earlier rising to a record $9,984.75 a ton.

Nickel Outperforms Zinc, Credit Suisse Says: Technical Analysis

Nickel will likely outperform zinc as a price ratio of the two metals heads higher after breaking above the April 2010 high at 11.50, according to a technical analysis report on Jan. 31 by Credit Suisse Group AG.

MINING:

Iron Ore Production in India’s Orissa Falls 46% on Mining Curbs

Iron ore output in India’s Orissa state, the nation’s largest producer of the steelmaking ingredient, plunged 46 percent last year as the regional government cracked down on illegal mining.

GLOBAL PIVOTS – WEEKLY – 31ST JAN 2011 to 4TH FEB 2011

02-02-11 16:55
** P W HIGH = Previous Week High, P W LOW = Previous Week Low, S  = Support  , R = Resistance
COMEX
COMMODITY	P W HIGH	P W LOW	P CLOSE	S4	S3	S2	S1	PIVOT	R1	R2	R3	R4	+ / –
GOLD Spot10	1353.47	1308.25	1336.75	1198.55	1243.77	1288.99	1314.94	1334.21	1360.16	1379.43	1424.65	1469.87	-5.93
SILVER Spot 10	28.06	26.40	27.98	22.62	24.28	25.94	27.13	27.60	28.79	29.25	30.91	32.57	0.47
CRUDE MAR 11	89.73	85.11	89.34	74.68	79.30	83.92	87.35	88.54	91.97	93.16	97.78	102.40	0.23
LME
ALUMINIUM 3 M	2483.50	2360.00	2472.00	2077.13	2200.63	2324.13	2411.75	2447.63	2535.25	2571.13	2694.63	2818.13	53.00
COPPER 3 M	9666.00	9234.85	9530.00	8206.70	8637.85	9069.00	9334.30	9500.15	9765.45	9931.30	10362.45	10793.60	89.00
NICKEL 3 M	27233.00	25585.00	26620.00	21565.50	23213.50	24861.50	25786.00	26509.50	27434.00	28157.50	29805.50	31453.50	460.00
TIN 3 M	30040.00	27500.00	29650.00	21577.50	24117.50	26657.50	28355.00	29197.50	30895.00	31737.50	34277.50	36817.50	1905.00
ZINC 3 M	2364.25	2220.00	2354.00	1884.31	2028.56	2172.81	2269.88	2317.06	2414.13	2461.31	2605.56	2749.81	36.00
LEAD 3 M	2485.00	2325.00	2437.50	1937.13	2097.13	2257.13	2349.25	2417.13	2509.25	2577.13	2737.13	2897.13	12.50
CURRENCIES
USDINR	45.8450	45.4550	45.7562	44.5903	44.9803	45.3703	45.6756	45.7603	46.0656	46.1503	46.5403	46.9303	0.1362
USDSGD	1.2857	1.2780	1.2852	1.2604	1.2681	1.2758	1.2814	1.2835	1.2891	1.2912	1.2989	1.3066	0.0016
EURUSD	1.3758	1.3541	1.3611	1.2974	1.3191	1.3408	1.3491	1.3625	1.3708	1.3842	1.4059	1.4276	-0.0010
GBPUSD	1.6017	1.5752	1.5860	1.5070	1.5335	1.5600	1.5712	1.5865	1.5977	1.6130	1.6395	1.6660	-0.0140
SGDINR	35.7829	35.4581	35.6090	34.6401	34.9649	35.2897	35.4461	35.6145	35.7709	35.9393	36.2641	36.5889	0.0693
DOLLAR INDEX	78.5090	77.5940	78.1330	75.3703	76.2853	77.2003	77.7215	78.1153	78.6365	79.0303	79.9453	80.8603	-0.0800
USDJPY	83.2200	81.9800	82.1200	78.6225	79.8625	81.1025	81.4650	82.3425	82.7050	83.5825	84.8225	86.0625	-0.4500
ASIAN & AMERICAN MARKETS
BSE	19340.99	18235.45	18395.97	15233.04	16338.58	17444.12	17758.32	18549.66	18863.86	19655.20	20760.74	21866.28	-611.56
NSE	5801.55	5459.55	5512.15	4530.45	4872.45	5214.45	5311.35	5556.45	5653.35	5898.45	6240.45	6582.45	-184.35
STRAITS TIMES	3236.93	3179.09	3229.69	3035.85	3093.69	3151.53	3181.81	3209.37	3239.65	3267.21	3325.05	3382.89	45.09
HANG SENG	24023.68	23580.42	23617.02	22304.17	22747.43	23190.69	23244.23	23633.95	23687.49	24077.21	24520.47	24963.73	-259.84
DOW	12020.52	11803.04	11823.70	11215.47	11432.95	11650.43	11715.31	11867.91	11932.79	12085.39	12302.87	12520.35	-48.14
NASDAQ	2763.64	2679.57	2686.89	2453.64	2537.71	2621.78	2648.06	2705.85	2732.13	2789.92	2873.99	2958.06	-2.65
NIKKEI 225	10496.40	10278.81	10360.34	9686.11	9903.70	10121.29	10181.37	10338.88	10398.96	10556.47	10774.06	10991.65	85.82
This research report is prepared for general information. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument.

GLOBAL PIVOTS – MONTHLY – FEB 2011

02-02-11 16:11
** P M HIGH = Previous Month High, P M LOW = Previous Month Low, S  = Support  , R = Resistance
IF “COMMODITY” & “+ / -” BOTH COLUMN ARE IN “RED” = BEARISH & IF “GREEN” = BULLISH
COMEX
COMMODITY	P M HIGH	P M LOW	P M CLOSE	S4	S3	S2	S1	PIOVT	R1	R2	R3	R4	+ / –
GOLD SPOT 10	1424.05	1308.25	1332.80	1002.04	1117.84	1233.64	1274.83	1349.44	1390.63	1465.24	1581.04	1696.84	-87.98
SILVER SPOT 10	31.24	26.40	28.06	13.94	18.77	23.61	25.64	28.44	30.48	33.28	38.11	42.95	-2.86
CRUDE MAR 11	93.46	85.11	92.19	65.69	74.04	82.39	88.02	90.74	96.37	99.09	107.44	115.79	-0.03
LME
ALUMINIUM 3 M	2541.00	2360.00	2520.00	1941.44	2122.44	2303.44	2427.88	2484.44	2608.88	2665.44	2846.44	3027.44	50.00
COPPER 3 M	9782.00	9234.85	9745.00	7992.76	8539.91	9087.06	9486.43	9634.21	10033.58	10181.36	10728.51	11275.66	145.00
NICKEL 3 M	27374.00	23822.00	27350.00	15808.00	19360.00	22912.00	25554.00	26464.00	29106.00	30016.00	33568.00	37120.00	2600.00
TIN 3 M	30240.00	25725.00	30100.00	15571.25	20086.25	24601.25	27992.50	29116.25	32507.50	33631.25	38146.25	42661.25	3200.00
ZINC 3 M	2486.00	2220.00	2427.00	1586.00	1852.00	2118.00	2282.00	2384.00	2548.00	2650.00	2916.00	3182.00	-27.00
LEAD 3 M	2712.75	2325.00	2510.00	1354.94	1742.69	2130.44	2323.63	2518.19	2711.38	2905.94	3293.69	3681.44	-40.00
CURRENCIES
USDINR	46.0150	44.6413	45.9050	41.4830	42.8567	44.2304	45.1932	45.6041	46.5669	46.9778	48.3515	49.7252	1.2000
USDSGD	1.3044	1.2780	1.2795	1.2062	1.2326	1.2590	1.2663	1.2854	1.2927	1.3118	1.3382	1.3646	-0.0039
EURUSD	1.3758	1.2867	1.3694	1.0830	1.1721	1.2612	1.3249	1.3503	1.4140	1.4394	1.5285	1.6176	0.0310
GBPUSD	1.6059	1.5407	1.6014	1.3918	1.4570	1.5222	1.5688	1.5874	1.6340	1.6526	1.7178	1.7830	0.0402
SGDINR	35.8981	34.7240	35.8851	32.0745	33.2486	34.4227	35.2956	35.5968	36.4697	36.7709	37.9450	39.1191	1.0510
DOLLAR INDEX	81.3130	77.5370	77.7350	67.2265	71.0025	74.7785	75.7960	78.5545	79.5720	82.3305	86.1065	89.8825	-1.2930
USDJPY	83.6800	80.9300	82.0400	73.9225	76.6725	79.4225	80.6650	82.1725	83.4150	84.9225	87.6725	90.4225	0.9200
ASIAN & AMERICAN MARKETS
BSE	20664.80	18038.48	18327.76	10985.10	13611.42	16237.74	17063.31	18864.06	19689.63	21490.38	24116.70	26743.02	-2181.33
NSE	6181.05	5416.65	5505.90	3367.03	4131.43	4895.83	5139.40	5660.23	5903.80	6424.63	7189.03	7953.43	-628.60
STRAITS TIMES	3280.77	3177.78	3179.72	2897.83	3000.82	3103.81	3132.83	3206.80	3235.82	3309.79	3412.78	3515.77	-10.32
HANG SENG	24434.40	23057.52	23447.34	19467.08	20843.96	22220.84	22761.04	23597.72	24137.92	24974.60	26351.48	27728.36	411.89
DOW	12020.52	11573.87	11891.93	10504.76	10951.41	11398.06	11668.89	11844.71	12115.54	12291.36	12738.01	13184.66	314.42
NASDAQ	2766.17	2663.64	2700.08	2404.29	2506.82	2609.35	2657.58	2711.88	2760.11	2814.41	2916.94	3019.47	47.21
NIKKEI 225	10620.57	10182.57	10237.92	9016.65	9454.65	9892.65	10040.74	10330.65	10478.74	10768.65	11206.65	11644.65	9.00
This research report is prepared for general information. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument.