DAILY COMMODITY REPORT

29 NOV 2017

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DAILY COMMODITY REPORT
29 NOV 2017

ECONOMIC DATA

TIME CURRENCY PARTICULAR FORECAST PREVIOUS

1:00 PM GBP BOE Gov Carney - -
Speaks
8:15 PM USD Fed Chair Designate - -
Powell Speaks

8:30 PM USD CB Consumer 123.9 125.9

Confidence

NEWS UPDATE

Gold prices failed to get a significant boost in Asia on Wednesday after the latest ballistic
missile test by North Korea.
Gold futures for December delivery on the Comex division of the New York Mercantile
Exchange rose 0.02% to $1,293.60 troy ounce.
Overnight, gold prices pared gains on Tuesday as reports suggesting that North Korea
fired a ballistic missile failed to raise safe haven demand.
North Korea fired a ballistic missile from an area near Pyongyang early on Wednesday,
South Koreas military said, while the Japanese government said it landed in the countrys
exclusive economic zone.
The Pentagon says initial the assessment of of the North Korea launch was an ICBM and
Japan PM Shinzo Abe ordered an emergency meeting of cabinet ministers over the
missile launch.
Also supporting gold prices were comments from Federal Reserve chair designate Jerome
Powell, who testified before Congress on Tuesday.
Powells comments did little to change the widely held view that the incoming Fed chair
will adopt a similar stance to outgoing Fed Chair Janet Yellen on monetary policy.
Gold is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-
yielding assets such as bullion.
DAILY COMMODITY REPORT
29 NOV 2017

COMMODITY TECHNICAL LEVEL

GOLD (DEC) SILVER (DEC)

CONSOLIDATE TREND CONSOLIDATE

TREND

RESISTANCE 2
30750 RESISTANCE 2 40200
29550 RESISTANCE 1 39800
RESISTANCE 1

SUPPORT 1
29360 SUPPORT 1 38530

SUPPORT 2
29264 38250
SUPPORT 2
BUY ON DIP BUY ON DIP
STRATEGY STRATEGY

COPPER (NOV) CRUDE (NOV)

TREND CONSOLIDATE TREND CONSOLIDATE

RESISTANCE 2 466.37 3817

RESISTANCE 2
RESISTANCE 1 454.55 3768
RESISTANCE 1
SUPPORT 1 435.50 3733
SUPPORT 1
SUPPORT 2 428.50
SUPPORT 2 3711
STRATEGY BUY ON DIP BUY ON DIP
STRATEGY
DAILY COMMODITY REPORT
29 NOV 2017

CHART OF THE DAY

SILVER

BUY SILVER AROUND 38600 TGT 38900SL 38300

DAILY COMMODITY REPORT
29 NOV 2017

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