28/10/2013 (Borneo Post) - The gold prices traded higher last week as market expects the tapering to delay in November. The US economy failed to pick up a faster pace after the federal government resumed.

Non-payroll for September gained 148,000 and below expectation, while existing home sales dropped in previous month.

The crude inventories increased as supply has been rising over past few weeks. Crude prices slid below 100 benchmarks last week and turned this level into strong resistance.

Gold prices crossed above 1,350 levels last week and hovered around there.

The market has been pushed up by weakening dollar as traders expect tapering of stimulus to extend beyond November.

This week, we reckoned the support will rise at 1,330 regions and the bulls will probably aim at 1,360 levels before profit-taking occurs. Beware if the market falls below 1,330 as this may rekindle bearish sentiments.

WTI Crude prices were weak as demands have been contracting over weeks.

The war-tension has eased totally and does not threaten the market anymore while weekly inventories reported by Energy Information Administration keep increasing.

The market has strong resistance capped at 100 levels while moving sideways in recovery.

This week, we forecast the support will lie at 96 regions. However, the trend may decline further to 94 levels if additional increase in supply continues after mid-week.

Crude Palm Oil Futures (FCPO) on Bursa Derivatives ended lower on Friday after profit-taking occurred.

The January contracts closed at 2,443. This week, we foresee the resistance will stay resilient at 2,500 levels while the bears may surface.

The downward correction will probably reach 2,360 as mentioned in previous report. Only breaking below 2,360 will drive down further to test 2,300 levels.