Gold retained gains from its biggest daily jump in nearly nine months on Monday as weak U.S. jobs data eased fears the Federal Reserve will hike rates this year. The data raised new doubts on whether the economy was strong enough for the Fed to raise interest rates by the end of this year. Gold, which had been weighed down all year by expectations the U.S. central bank could soon raise rates, rallied as the dollar fell. The metal is still down nearly 4 percent this year.

Last week, LME Copper prices jumped by 1.5 percent and rebounded from six year lows as bearish investors closed out positions at the quarter-end and ahead of Chinese holidays. Also, supply disruptions from top producing countries Chile and Peru lift sentiment in beaten down sector. Chile's second-biggest copper mine Collahuasi, owned by Anglo American and Glencore, said on Tuesday it planned to cut output by 30,000 tonnes. We expect Copper prices to trade higher today as supply disruption concerns from top producing countries Chile and Peru will be supportive.

Saudi Arabia's decision to lower prices for oil loading in November shows that the battle for market share in an over-supplied Asian crude market is far from over. Saudi Aramco, the kingdom's state-owned oil company, cut its official selling price (OSP) for its main Arab Light grade to Asia to a discount of $1.60 a barrel to the regional benchmark Oman/Dubai price for November from a premium of 10 cents for October cargoes. Crude prices edged up on Monday after Russia said it was prepared to meet other producers to discuss the situation in the global oil market, while a report showed a fifth weekly decline in the U.S. oil rig count.

CS GOLD (OCTOBER) OVERVIEW:

TREND : BULLISH
RESIST 2: 26930
RESIST 1: 26750
SUP 1: 26055
SUP 2: 25955
STRATEGY: BUY ON DIPS

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Gold prices fell in Asia on Friday after Fed Chair Janet Yellen said that an interest rate hike this year is still very much on the cards. Yellen said she anticipates that it will be appropriate to raise short-term interest rates by the end of the year. In prepared remarks for a speech at the University of Massachussetts-Amherst, Yellen emphasized that most of her colleagues will likely support raising the target range for the Federal Funds Rate at some point this year. FOMC only disclosed that 13 of 17 of its members were in favor of raising rates this year. Yellen had not personally associated herself with a rate hike since July.

Overnight, LME copper once dipped to USD 5,013/mt but later rebounded due to softer dollar, to close up USD 21/mt at USD 5,080/mt. Safety-seeking sentiment is boosted in market. German’s auto industry is attacked and Caterpillar will lay off workers. European and US stocks all dropped. US durable goods orders are soft. US dollar index fell initially but later rallied thanks to the dovish tone of Yellen’s speech, weighing down base metals. Investors will exit market to seek safety ahead of holiday. LME copper should move between USD 5,020-5,120/mt during Asian trading hours

Oil markets remained subdued in early trading in Asia on Friday after weak data from Japan reinforced concerns over global economic growth. Japan's core consumer prices fell 0.1 percent in August from a year earlier, government data showed on Friday, marking the first year-on-year drop since April 2013. The index includes oil products but excludes fresh food prices. HSBC cautioned not to over-focus on weak China data, arguing that fully developed economies were also slowing. Yet a global oversupply that analysts estimate at 2.5 million barrels per day remains largely in place due to high production.

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Bullion saw some safe-haven bids as U.S. and Asian stocks fell, dragged down by economic reports portraying U.S. factory growth as tepid and China in its worst manufacturing contraction since the global financial crisis. Spot gold XAU= was firm at $1,130.75, after gaining 0.5 percent on Wednesday. December Comex Gold futures posted a solid gain on Wednesday after trading lower earlier in the session. Traders initially sold gold after the release of China’s bearish manufacturing PMI report because of a stronger U.S. Dollar.

LME copper fell from highs during European and US trading hours as a result of worries about China’s demand and a slump in crude oil prices. LME lead finally ended at USD 5,059/mt, down by USD 16/mt. China’s Caixin manufacturing PMI for September recorded a 6.5-year low, triggering concerns over China’s demand and crude oil prices tumbled, weighing down base metal prices. LME copper should move in USD 5,040-5,100/mt during Asian trading hours. SHFE 1511 copper will range between RMB 38,300-39,000/mt on Sept. 24 with strong resistance emerging.

Oil prices pared some losses on Thursday after sharp falls overnight on an unexpectedly large buildup in U.S. gasoline stocks and seasonally tepid demand. Data from the Energy Information Administration on Wednesday showed that U.S. crude oil stocks fell 1.9 million barrels in the week to Sept. 18, the second straight weekly drawdown, compared with analyst expectations for a decrease of 533,000 barrels. Asian shares got off to a cautious start on Thursday after more dour economic news in China and the United States prompted a bruising selloff the previous day.

CS GOLD (OCTOBER) OVERVIEW:

TREND : BULLISH
RESIST 2: 26850
RESIST 1: 26680
SUP 1: 26345
SUP 2: 26220
STRATEGY: BUY ON DIPS

CS SILVER (SEPTEMBER) OVERVIEW:

TREND : BULLISH
RESIST 2:36200
RESIST 1:35820
SUP1:35150
SUP2:35000
STRATEGY : BUY ON DIPS

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Gold dipped slightly on Monday after a three-day rally, but the metal still held close its highest in nearly three weeks, as the Federal Reserve's move last week to leave U.S. interest rates unchanged weighed on global equities. A majority of Wall Street's top banks now expect the Fed to begin increasing rates in December, according to a Reuter’s poll conducted on Thursday after the Fed's policy decision. Russia's gold reserves rose to 42.4 million troy ounces as of Sept. 1, compared with 41.4 million troy ounces a month earlier, the central bank said on Friday.

LME copper immediately lurched down after the open of European and US trading hours due to worries about soft global economy growth, igniting by the unchanged US interest rate. LME copper finally ended at a session low of USD 5,233/mt, slumping USD 162/mt or 3%. A delay in US interest rate hike gave no support to market and the reasons for the rate delay depressed commodity prices. US dollar index swung wildly following the unchanged US rate and finally returned above 95. LME copper should move at lows in USD 5,200-5,240/mt during Asian trading hours.

Oil prices edged up in early trading in Asia on Monday as U.S. drilling slowed and analysts estimated that $1.5 trillion worth of planned American production was uneconomical at prices of $50 per barrel or lower. Analysts said the low prices were beginning to impact production as drillers slow down new projects, especially in cost-sensitive North America where drillers react fast to changing prices. U.S. energy firms cut oil rigs for a third week in a row last week, a sign that the latest crude market weakness was causing drillers to put on hold production plans, triggering a slight increase in prices on Monday

CS GOLD (OCTOBER) OVERVIEW:

TREND : BULLISH
RESIST 2: 26690
RESIST 1: 26520
SUP 1: 26350
SUP 2: 26250
STRATEGY: BUY ON DIPS

CS SILVER (SEPTEMBER) OVERVIEW:

TREND : BULLISH
RESIST 2:36775
RESIST 1:36420
SUP1:35850
SUP2:35500
STRATEGY : BUY ON DIPS

CS GOLD (OCTOBER) OVERVIEW:

TREND : BEARISH
RESIST 2: 26200
RESIST 1: 26125
SUP 1: 25900
SUP 2: 25740
STRATEGY: SELL ON RISE

CS SILVER (SEPTEMBER) OVERVIEW:

TREND : BEARISH
RESIST 2:35340
RESIST 1:35030
SUP1:34450
SUP2:34230
STRATEGY : SELL ON RISE

CS CRUDE OIL (AUGUST) OVERVIEW:

TREND :BULLISH
RESIST 2:3100
RESIST 1:3050
SUP1:2925
SUP2:2875
STRATEGY: BUY ON DIPS

CS NATURAL GAS (AUGUST) OVERVIEW:

TREND :BEARISH
RESIST 2:187
RESIST 1:185
SUP1: 180
SUP2:178
STRATEGY: SELL ON RISE

BASE METAL

CS COPPER (AUGUST ) OVERVIEW:

TREND :BEARISH
RESIST 2:365
RESIST 1:363
SUP1:357
SUP2:355
STRATEGY: SELL ON RISE

Gold prices tread water on Tuesday in Asia as investors squared positions ahead of a Federal Reserve review of monetary policy this week that could finally pull a trigger on higher rates. On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,107.70, up 0.01%, while silver for December delivery fell 0.03% to $14.375 an ounce. Investors await the FOMC highly-anticipated two-day meeting starting on Wednesday. The Fed's benchmark rate, which banks use to lend to other institutions on overnight loans, has remained at its current level between zero and 0.25% since December, 2008.

The latest monthly commodities report published by Societe Generale predicts lower growth rate in global copper consumption during 2015. The apparent slowdown in China and other emerging markets may cut the consumption growth to 2.5% this year. This is upon comparison with the global consumption growth of 4.5% recorded during the previous year. With the overall bearishness in market and a lack of major reports on Tuesday, LME copper will range between USD 5,270-5,340/mt during Asian trading hours.

Crude oil gained in early Asia on Tuesday with investors focused on U.S. stockpile estimates from the American Petroleum Institute later in the day. On the New York Mercantile Exchange, WTI crude for October delivery rose 0.17% to $44.16 a barrel. Crude futures are down by nearly 60% since peaking above $100 a barrel in the summer of 2014. Last November, OPEC roiled global energy markets with its decision to keep its production ceiling above 30 million barrels per day in an effort to defend its market share.

CS GOLD (OCTOBER) OVERVIEW:

TREND : BEARISH
RESIST 2: 26290
RESIST 1: 26200
SUP 1: 25980
SUP 2: 25900
STRATEGY: SELL ON RISE

CS SILVER (SEPTEMBER) OVERVIEW:

TREND : BEARISH
RESIST 2:35500
RESIST 1:35175
SUP1:34550
SUP2:34370
STRATEGY : SELL ON RISE

Gold prices eased in Asia on Monday at the start of a week that could see the Federal Reserve raise interest rates at a time of mixed economic fortunes for growth in China. In China at the weekend, data showed fixed asset investment rose 10.9%, just below the 11% seen, while industrial production gained 6.1%, below the 6.4% expected and retail sales rose 10.8%, above the 10.5% seen. Gold for December delivery on the Comex division of the New York Mercantile Exchange fell 0.20% to $1,105.70 a troy ounce.

LME copper tested support at USD 5,320/mt amid cautious sentiment last Friday and finally ended the day down USD 10/mt at USD 5,382/mt. Commodity prices were supported by a softer dollar last Friday but investors were still worried about a slowdown in China’s economy and the timing of US Fed’s interest rate hike. 23% zinc smelters are bullish toward zinc prices in the near term, SMM finds in its latest survey.  LME copper should move in USD 5,340-5,400/mt during Asian trading hours. SHFE 1511 copper may range between RMB 40,800-41,300/mt on Sept. 14.

Crude oil prices gained in Asia on Monday as markets looked ahead to the Federal Reserve review of interest rates this week and mixed China data at the weekend was assessed. On Monday, the Organization of Petroleum Exporting Counties will publish its monthly assessment of oil markets. Influential Wall Street investment bank Goldman Sachs lowered its 2016 forecast for U.S. crude to $45 a barrel from $57 previously, and Brent to $49.50 from $62, citing oversupply and concerns over China's economy.

CS GOLD (OCTOBER) OVERVIEW:

TREND : BEARISH
RESIST 2: 26320
RESIST 1: 26200
SUP 1: 25850
SUP 2: 25580
STRATEGY: SELL ON RISE

CS SILVER (SEPTEMBER) OVERVIEW:

TREND : BEARISH
RESIST 2:35800
RESIST 1:35520
SUP1:34860
SUP2:34500
STRATEGY : SELL ON RISE

CS CRUDE OIL (AUGUST) OVERVIEW:

TREND :BEARISH
RESIST 2:3090
RESIST 1:3050
SUP1:2950
SUP2:2880
STRATEGY: SELL ON RISE

Gold clung to small overnight gains near $1,110 an ounce on Friday, but the metal was headed for a third consecutive weekly fall as investors continued to fret over the timing of a looming U.S. interest rate hike. Earlier in the week, gold had fallen to $1,101.11, the lowest since Aug. 11. It has lost 1 percent for the week. Traders were awaiting the Federal Reserve's next policy statement on Sept. 17 for clues on the timing of a U.S. interest rate rise, before taking any big positions in gold. The London Metal Exchange is in talks with the gold industry with a view to launching precious metals derivatives, LME Chief Executive Garry Jones said on Thursday.

Copper prices have fallen in recent years, pulling the miners down with them. Of course, challenges to the commodities sector have been heavily influenced by a mismatch between demand and supply growth. LME copper moved in a tight range of USD 5,360-5,400/mt during European and US trading hours and closed at USD 5,392/mt, edging up USD 36/mt. LME copper should consolidate the support at the 60-day moving average and move in USD 5,350-5,400/mt during Asian trading hours. LME copper to range between RMB 40,800-41,300/mt on Sept. 11.

Crude oil prices eased on Friday due to a strong dollar and Saudi Arabia's dismissal of a producer summit, putting prices on track for a small weekly fall despite a strong rally in the previous session. Saudi Arabia believes a summit of oil producing countries' heads of states would fail to produce concrete action toward defending oil prices. Russia's energy minister expects cuts in global shale oil production to help stabilise the oil market. Alexander Novak also reaffirmed that Russia, would not cut its own production.

CS GOLD (OCTOBER) OVERVIEW:

TREND : BEARISH
RESIST 2: 26400
RESIST 1: 26290
SUP 1: 26040
SUP 2: 25980
STRATEGY: SELL ON RISE

CS SILVER (SEPTEMBER) OVERVIEW:

TREND : SIDEWAYS
RESIST 2:36120
RESIST 1:35820
SUP1:35240
SUP2:35030
STRATEGY : SELL ON RISE

Gold prices gained in Asia on Thursday with regional data sets noted, particularly a rise in consumer prices in China. In China consumer prices rose 0.5%, higher than the 0.4% gain seen in August and producer prices fell 5.9%, ore than the expected drop of 5.5% year-on-year. On the Comex division of the New York Mercantile Exchange, gold for December delivery rose 0.33% to $1,105.60 a troy ounce. On Tuesday, World Bank chief economist Kaushik Basu warned that a rate hike by the Fed next week could trigger a widespread crisis in emerging markets, pushing capital away from their economies and potentially creating sharp fluctuations in their currencies.

Goldman Sachs lowered its medium-term forecast for copper prices Sept. 8, though Glencore plans to cut its copper output, according to Wallstreetcn.com. Base metal prices on the SHFE now waits for the result of major economic results from China on Sept. 10. LME copper retreated earlier gains during European and US trading hours responding to a slowdown in China’s economy and firmer US dollar. The 3-month copper finally edged up USD 4/mt to USD 5,356/mt. LME copper is predicted to range between USD 5,300-5,380/mt during Asian trading hours.

Oil prices fell on Thursday as weak Japanese and Chinese economic data fuelled concerns that low levels of investment could further erode already slowing global growth. Japan's core machinery orders fell 3.6 percent in July, official data showed, much worse than a 3.7 percent increase expected by economists, and followed a 7.9 percent month-on-month decline in June. In China, Asia's biggest economy, analysts already expect a further slowdown in economic growth, now at its lowest in a generation.

CS GOLD (OCTOBER) OVERVIEW:

TREND : BEARISH
RESIST 2: 26400
RESIST 1: 26280
SUP 1: 25980
SUP 2: 25870
STRATEGY: SELL ON RISE

CS SILVER (SEPTEMBER) OVERVIEW:

TREND : SIDEWAYS
RESIST 2:36120
RESIST 1:35800
SUP1:35175
SUP2:34770
STRATEGY : SELL ON RISE

CS CRUDE OIL (AUGUST) OVERVIEW:

TREND :BEARISH
RESIST 2:3140
RESIST 1:3100
SUP1:2880
SUP2:2840
STRATEGY: SELL ON RISE

CS NATURAL GAS (AUGUST) OVERVIEW:

TREND :SIDEWAYS
RESIST 2:183
RESIST 1:181
SUP1: 177
SUP2:175
STRATEGY: BUY ON DIPS

BASE METAL

CS COPPER (AUGUST ) OVERVIEW:

TREND :BEARISH
RESIST 2:369
RESIST 1:367
SUP1:360
SUP2:358
STRATEGY: SELL ON RISE