Gold and Silver Marketwatch by sanjivgoyal1335

VIEWS: 59 PAGES: 2

									                                                                                                                                                                           Strategist Contact Information
           Global Research                                                                                                                                                 Russell Browne - russell.browne@scotiabank.com
                                                                                                                                                                           Trading Contacts

           Gold & Silver Marketwatch                                                                                                                                       Reuters MMCN or (212)225-6200
                                                                                                                                                                           Stephen Abbriano-stephen.abbriano@scotiabank.com
                                                                                                                                                                           Robert Lockwood-robert.lockwood@scotiabank.com
           Daily Update                                                                                                                                                    Tuesday, April 03, 2012


           Market Commentary
           Market Commentary                                                                                     1-Day Commodity Moves

                                                                                                                                                             -1.9                                                                                            Gold
           Overnight strength in the dollar pushed gold lower, opening atbound day
           Gold opened a little lower at 1672.75/1673.75. It was a range                                                                                                                    -1.2                                                             Silver
           for the metal as investors waited upon the FOMC Japan quickly
           1396.25/1397.25. Profit taking over worries about minutes. Gold took                                                                                                                                              -0.5                            Platinum
           the metalan intraday high of 1680.50/1681.50 andAs the selling frenzy
           reached to an intraday low of 1381.10/1382.10. an intraday low of                                                                                                                                                          -0.3                   Palladium
           subsided, renewed buying interest brought ended the up toat intraday
           1667/1668 as equities declined. The metal gold back day an                                                                                                                              -1.0                                                      Oil WTI fut
           high of 1403.25/1404.25 mid session.FED minutes, which dimmed the
           1670.25/1671.25. The release of the Unable to find support at this                                                                                                                                    -0.8                                        Copper fut

           level, the metal eased back quietly to gold sell off in at 1392.50/1393.50.
           prospects of additional stimulus, saw close the day the aftermarket. As                                                                                                                                    -0.7                                   EUR
                                                                                                                                                                                                                        -0.6                                 S&P 500
           the dollar gained, gold reached an aftermarket low of 1638.75/1639.75.
           Commodities overall being down on Japanese worries, silver opened                                        %                                                                                                         -0.5                           CRB

           the day significantly lower at 33.77/33.81, quickly reaching an intraday
           Silver opened higher at 32.81/32.86. Tracking crude throughout the day,                             -3                                              -2                                         -1                                           0

           low ofreached an intraday low of 32.71/32.76and base metals began to
           silver 33.57/33.61. Buying interest as crude and rallied back to an
           intraday high of 33.28/33.33 silver the session. Silver of 34.80/34.84
           reverse their slide lower tooklate in to an intraday high soon ended the                              5-Day Commodity Moves
           mid session. As with gold, another round of profit taking took the metal
           day at 33.25/33.30.
           to its close of 34.12/34.16.                                                                                                 -2.1                                                                                                                 Gold
                                                                                                                                                              0.0                                                                                            Silver
           Technical Commentary
           Technical Commentary                                                                                                                       -0.7                                                                                                   Platinum
                                                                                                                                                      -0.8                                                                                                   Palladium
           Gold had an inside day today, trading within yesterday’s range and                                               -3.0                                                                                                                             Oil WTI fut
           closing lower at 1670. Gold in the USD sideways trend with support
           A risk aversion induced rallyremains in a has put significant downwardat                                                                                        0.3                                                                               Copper fut
           pressure on gold.22 low) anddropped rapidly through several layers of
           1628 (the March The metal resistance at last week’s high around                                                                             -0.6                                                                                                  EUR
           support, with support only being found at the 100-day moving average
           1697, followed by the March 12th high at 1716.                                                                                                    -0.1                                                                                            S&P 500
           of 1379. After today's test, this level has strengthened and gold will now                                                          -1.5                                                                                                          CRB

           Silver closed slightly higher to break below also Should downward
           require a significant catalystat 33.25 but hashere. continued to respect                                  %
                                                                                                                -5                 -3                   -1                   1              3                     5                   7                9
           pressure emerge again tomorrow, the risk isMarch 22 will test down to
           the range. Support is at 31.11, the low from that gold and resistance is
           the psychologically important $1,350.Gold-Silver ratio is trading lower
           at the March 12th high of 34.41. The                                                                 1 Month Commodity Moves
           again today at 50.39. The MACD has generated a bearish cross and the
           ratio appears to technically rounding top. This suggests that gold will
           Silver also had abe forming abearish day, however the chart continues to                                      Gold                                                                 -3.9

           underperform silver. The risk is a Support for the metal lies at at 47.67;
           be more encouraging than gold's.move back down to the lows late                                              Silver                                      -6.3


           with support at the 200-day-moving average at 50-day
           February congestion of $32.15, followed by the 49.55. moving average                                  Platinum                                                                            -3.4

           of $30.96. The MACD has turned bearish, but most other technical                                     Palladium          -8.4

                                                                                                               Oil WTI fut
           studies are still clinging to bullish signals. Tomorrow's trading pattern                                                                                                                                  -2.4

                                                                                                                Copper fut                                                                                                                          -0.1
           will be key. Confirmation of today's down move would open up the
                                                                                                                         EUR                                                                                                                                     0.1
           potential of more selling.
                                                                                                                 S&P 500                                                                                         -2.8

                                                                                                                         CRB                                                                              -3.2
                                                                                                                          %
                                                                                                                                 -9.0          -8.0           -7.0          -6.0     -5.0          -4.0          -3.0          -2.0          -1.0          0.0         1.0


                                                                                                                                               4/3/12 15:46 - Time above charts last updated - Source: Bloomberg

            Technical Levels, etc.Gold, Silver, Platinum & Palladium                                            Technical Levels, etc.
                                                                                                                 Technical Levels, etc.
                                                 Gold                   Silver       Platinum      Palladium                                                                       Gold                    Silver                   Platinum          Palladium
          Open                              1672.75/1673.75            32.81/32.86    1,651.50        657.75   Pivot                                                               1,655.89                    32.784                     1,649              657.13
          High                              1680.50/1681.50            33.28/33.33    1,669.00        663.25   Primary Support (Buy)                                               1,628.21                    32.288                     1,629              648.38
          Low                               1667.00/1668.00            32.71/32.76    1,639.75        651.50   Primary Resistance (Sell)                                           1,672.73                    33.093                     1,662              662.75
          Close / Last Mid*                 1670.25/1671.25            33.25/33.30    1,642.25        654.50   HBOP                                                                1,717.26                    33.898                     1,695              677.13
          London Fix AM                            1,674.75                  32.97    1,658.00        659.00   LBOP                                                                1,583.68                    31.483                     1,596              634.00
          London Fix PM                            1,676.25                    NA     1,659.00        660.00   Bollinger Band Upper                                                1,708.92                    34.082                     1,701              725.68
          Handy Harman (Base)                      1,676.25                 33.160    1,659.00        660.00   Bollinger Band Mid                                                  1,669.90                    32.723                     1,656              679.77
          Gold / Silver Ratio                         50.84                    NA           NA           NA    Bollinger Band Lower                                                1,630.89                    31.363                     1,610              633.86
          Open Interest                             Gold OI                            Silver OI               Relative Strength 9 Day                                                   38                        48                        46                  38
          COMEX                                     409,333                            113,035                 Relative Strength 14 Day                                                  41                        48                        48                  40
          CBOT                                        1,517                                682
                                                                                                               Close/last mid refers to the spot closing floor price in gold and silver, and spot’s last mid
          Total                                     410,850                            113,717                 price as provided by Bloomberg in platinum & palladium spot
                                                                                                               All other data provided by Bloomberg. Actual market levels may have differed .




Gold and Silver Market Watch                                                                                                                                                                                   Tuesday, April 03, 2012
        Gold: 2-Year Close with Moving Averages                                                                                                           Gold: 2-Month Candlesticks

          2000                                                                                                                                              1850
                      $/oz
                                                                                                                                                            1800
          1800                                                Spot
                                                              100-Day                                                                                       1750
          1600
                                                              200-Day
                                                              400-Day                                                                                       1700

          1400                                                                                                                                              1650

                                                                                                                                                            1600
          1200
                                                                                                                                                            1550

          1000
                                                                                                                                                            1500

             800
                                                                                                                                                            1450
              Apr-10               Aug-10                Dec-10               Apr-11               Aug-11                Dec-11                                 9-Feb                 19-Feb             29-Feb              10-Mar             20-Mar             30-Mar




        Silver: 2-Year Close with Moving Averages                                                                                                         Silver: 2-Month Candlesticks


        50                                                                                                                                                38.0
        48
                   $/oz
                                                                                                                                                          37.0
        46
        44                                                                                                                                                36.0
                                           Spot
        42                                                                                                                                                35.0
        40                                 100-Day
        38                                 200-Day                                                                                                        34.0
        36                                 400-Day                                                                                                        33.0
        34
        32                                                                                                                                                32.0
        30                                                                                                                                                31.0
        28
        26                                                                                                                                                30.0
        24                                                                                                                                                29.0
        22
        20                                                                                                                                                28.0
        18                                                                                                                                                27.0
        16
        14                                                                                                                                                26.0
        12                                                                                                                                                25.0
        10
                                                                                                                                                              9-Feb                 19-Feb              29-Feb              10-Mar              20-Mar             30-Mar
         Apr-10                Aug-10                Dec-10                Apr-11                Aug-11                 Dec-11



                                                                                                                                                                                         Source: Bloomberg - which can differ slightly from market spot prices


              Moving Averages                                                                                                                                  FX Majors                                              Markets

                                                    Gold                            Silver                   Platinum             Palladium                      CAD                                0.9909                 CRB                              310.75
                    5 Day MA                      1,663.31                          32.429                    1,639                651.53                        EUR                                1.3230               DJAIG                              143.60
                    10 Day MA                     1,664.56                          32.351                    1,639                658.65                        GBP                                1.5912            Crude (fut)                           104.15
                    20 Day MA                     1,669.90                          32.723                    1,656                679.77                        CHF                                0.9099             S&P 500                             1411.13
                    30 Day MA                     1,692.93                          33.455                    1,669                689.38                        AUD                                1.0329             US 10 Yr                               2.30
                    60 Day MA                     1,699.61                          33.083                    1,632                687.34                        ZAR                                7.7526             US 30 Yr                               3.43
                    100 Day MA                    1,681.22                          32.056                    1,575                665.02                        JPY                               82.8400            CDN 10 Yr                               2.19
                    200 Day MA                    1,691.44                          34.467                    1,641                689.57                       as of:                      4/3/2012 15:46                as of:                    4/3/2012 15:46
                    400 Day MA                    1,494.78                          31.546                       -                     -
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change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness. Neither The Bank of No
any liability whatsoever for any loss arising from the use of this report or its contents. The Bank of Nova Scotia, its affiliates, employees or agents may hold a position in the products contained herein. This report is not a direct offer financial promot
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