Daily Report
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Gold futures dropped for a second day in New
York on speculation that Europe’s debt crisis will bolster the dollar and
cut demand for the metal as an alternative investment. Silver also
retreated. The euro fell below $1.21 for a second day after Moody’s Investors
Service yesterday lowered the credit-rating outlook for Germany, the
Netherlands and Luxembourg. The Standard & Poor’s GSCI Spot Index of 24
commodities fell for a third session. The dollar jumped 3.3 percent against
a basket of currencies in the second quarter while gold declined 4 percent.
Silver futures for September delivery slid 0.9 percent to $26.811 an ounce
on the Comex. On the New York Mercantile Exchange, platinum futures for
October delivery fell 0.9 percent to $1,386.60 an ounce. Palladium futures
for September delivery declined 1.6 percent to $561.60 an ounce, the
biggest drop since July 5. Oil traded below $90 a barrel for a third day in
New York after an industry report showed crude stockpiles increased for the
first time in four weeks in the U.S., the world’s biggest consumer of the
commodity. Oil for September delivery slid as much as 65 cents to $87.85 a
barrel in electronic trading on the New York Mercantile Exchange and was at
$88.33 at 11:21 a.m. Singapore time. The contract yesterday climbed 0.4
percent to $88.50, the highest close since July 20. Prices are 11 percent
lower this year. Brent crude for September settlement was at $103.38 a
barrel, down 4 cents, on the London-based ICE Futures Europe exchange. The
European benchmark’s premium to West Texas Intermediate was at $15.05, from
$14.92 yesterday.
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Levels for the Day
Name
|
RES2
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RES1
|
S/R
|
SUP1
|
SUP2
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RECOMMENDATION
|
ALUMINIUM (31JUL12)
|
105.15
|
104.65
|
104.35
|
103.85
|
103.55
|
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COPPER
(31AUG12)
|
424.35
|
421.65
|
419.85
|
417.15
|
415.35
|
Buy above 422 SL 419 tgt 426/428
|
CRUDEOIL (20AUG12)
|
5063
|
5028
|
4984
|
4949
|
4905
|
Buy above 5000 SL 4978 tgt 5030/5045
|
GOLD
(04AUG12)
|
29706
|
29637
|
29514
|
29445
|
29322
|
|
SILVER
(05SEP12)
|
53333
|
53080
|
52825
|
52572
|
52317
|
|
LEAD
(31JULN12)
|
105.3
|
104.8
|
104.4
|
103.9
|
103.5
|
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NATURALGAS (26JUL12)
|
184.15
|
181.75
|
177.55
|
175.15
|
170.95
|
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NICKEL
(31JUL12)
|
895.35
|
889.75
|
880.35
|
874.75
|
865.35
|
Buy above 882 SL 877 tgt 890/895
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ZINC
(31JUL12)
|
102.8
|
102.1
|
101.7
|
101.05
|
100.6
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25th
July 2012 (Time – IST)
GBP Gross Domestic Product (QoQ) (2Q A)
at 14:00 (Survey -0.2%, Previous -0.3%)
GBP Gross Domestic Product (YoY) (2Q A)
at 14:00 (Survey -0.3%), Previous -0.2%)
USD New Home Sales (JUN) at 19:30 (Survey
371K, Previous 369K)
USD Durable Goods Orders (JUN) at 18:00
(Survey 0.3%, Previous 1.3%)
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