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Daily Report
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Gold futures fell to the lowest price in more
than a week as concern that Europe’s debt crisis is deepening boosted the
dollar and curbed demand for the metal as an alternative investment. Gold
futures for August delivery fell 0.3 percent to settle at $1,577.40 an
ounce at 1:49 p.m. on the Comex in New York, after touching $1,562, the
lowest for a most-active contract since July 12. The price slid 0.6 percent
last week and is down 1.7 percent this month. Silver futures for September
delivery dropped 1 percent to $27.042 an ounce in New York, the biggest
fall since July 10. Oil traded near the lowest close in a week in New York
amid concern fuel demand is weakening as Europe’s debt crisis threatens to
derail the global economy. Oil for September delivery was at $87.99 a
barrel, down 15 cents, in electronic trading on the New York Mercantile
Exchange at 11:58 a.m. Sydney time. The contract yesterday decreased $3.69
to $88.14, the lowest close since July 13. Prices are down 11 percent this
year. Brent crude for September settlement was at $103.25 a barrel, down 1
cent, on the London-based ICE Futures Europe exchange. The European
benchmark’s premium to West Texas Intermediate was at $15.26, from $15.12
yesterday.
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Levels for the Day
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Name
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RES2
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RES1
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S/R
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SUP1
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SUP2
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RECOMMENDATION
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ALUMINIUM (31JUL12)
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105.25
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104.85
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104.25
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103.85
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103.25
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COPPER
(31AUG12)
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425.15
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422.55
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419.05
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416.45
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412.95
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CRUDEOIL (20AUG12)
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5141
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5083
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5020
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4962
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4899
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GOLD
(04AUG12)
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29592
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29520
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29408
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29336
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29224
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SILVER
(05SEP12)
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53399
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53161
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52831
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52593
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52263
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LEAD
(31JULN12)
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105.9
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105.2
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104.4
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103.7
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103.05
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NATURALGAS (26JUL12)
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179.9
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176.3
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172.2
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168.6
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164.5
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NICKEL
(31JUL12)
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894.45
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886.35
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876.85
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868.75
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859.25
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Buy above 882 SL 877 tgt 890/895
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ZINC
(31JUL12)
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103.15
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102.5
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101.85
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101.2
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100.55
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24th
July 2012 (Time – IST)
USD House Price Index (MoM) (MAY) at 19:30 (Survey 0.4%,
Previous 0.8%)
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Disclaimer
This
publication has been prepared solely for information purpose and does not
constitute a solicitation to any person to buy or sell a security. While
the information contained therein has been obtained from sources believed to
be reliable, investors are advised to satisfy themselves before making any
investments. Paterson Securities P Ltd. has not independently verified all
the information given in this document. Accordingly, no representation or
warranty, express or implied, is made as to the accuracy, completeness or
fairness of the information and opinions contained in this document.
Paterson Securities P Ltd. does not bear any responsibility for the
authentication of the information contained in the reports and consequently,
is not liable for any decisions taken based on the same. Further, Paterson
Research Reports only provide information updates and analysis. As per SEBI
requirements it is stated that, Paterson Securities P Ltd. and/or
individuals thereof may have positions in securities referred herein and
may make purchases or sale thereof while this report is in circulation.
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