Commodities
Bullion, precious metals firm up
A GOOD week for all precious metals with gold prices firming after a reasonable UK gold auction, and more importantly, a softer US dollar. Silver and the platinum group metals gained, like the base metals, from some improvement in interest based on great er optimism about an economic recovery.

Technical Analysis
Upward correction in cotton seen
Cotton futures closed higher at the New York Cotton Exchange on Friday with March contract touching its highest point in more than two months after another jump in world prices. March, the NYCEs most active contract, settled the session up 31 points at 3 9.27 cents per pound after moving as high as 39.80c.

Palm oil futures may move down
Malaysian palm oil futures this week witnessed sharp falls and corrections. Though there was positive news from the cargo surveyors, it failed to cheer the market, which saw profit taking and a general lack of direction. Talk that India would not immedia tely raise the base import price of palmolein arrested further downfall in prices.

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