Wednesday 8 August 2012

Daily Report for 9th Aug 2012


      Commodities Market Summary
Oil fluctuated after falling for the first time in four days in New York yesterday as speculation that China will take more steps to boost its economy countered signs of weakening demand in the U.S., the biggest crude user. Futures were down as much as 0.1 percent and up 0.3 percent in today’s trading. U.S. petroleum consumption fell 1.1 percent last week, the first decrease in four weeks, according to a report from the Energy Department yesterday. China’s inflation cooled for a fourth straight month in July, providing more room for policies to stimulate growth in the world’s second-biggest oil consumer. Oil for September delivery was at $93.53 a barrel, up 18 cents, or 0.2 percent, in electronic trading on the New York Mercantile Exchange at 12:33 p.m. Sydney time. It decreased 32 cents yesterday to $93.35, the lowest settlement since Aug. 6. The contract has rebounded 20 percent from its lowest close this year of $77.69 on June 28. Prices are 5.3 percent lower since the start of the year. Brent crude for September settlement gained 5 cents to $112.19 a barrel on the London-based ICE Futures Europe exchange. The European benchmark’s premium to West Texas Intermediate was at $18.64 from $18.79 yesterday. Gold advanced for the third time in four sessions on speculation that central banks will take steps to bolster their economies, increasing the appeal of the precious metal as a store of value. Gold futures for December delivery gained 0.2 percent to settle at $1,616 an ounce at 1:37 p.m. on the Comex in New York. The price has climbed 1.6 percent since Aug. 2. On the New York Mercantile Exchange, platinum futures for October delivery fell 20 cents to $1,410.20 an ounce. Palladium futures for September delivery slipped 0.3 percent to $586.50 an ounce.
             Levels for the Day
Name
RES2
RES1
       S/R
      SUP1
      SUP2
RECOMMENDATION
ALUMINIUM (31AUG12)
105.7
105.1
104.3
103.7
102.9

COPPER
(31AUG12)
420.2
418.7
417.4
415.9
414.6
Buy above 417 SL 414 Tgt 421/422
CRUDEOIL (20AUG12)
5269
5219
5175
5125
5081

GOLD
(04SEP12)
30002
29949
29866
29813
29730

SILVER
(05SEP12)
53905
53657
53372
53124
52839

LEAD
(31AUG12)
106.9
106.1
105.4
104.7
104.0

NATURALGAS (28AUG12)
167.8
164.7
162.8
159.7
157.8

NICKEL
(31AUG12)
877.3
874.1
871.3
868.1
865.3
Buy at 875/876 SL 869 TGT 887/890
ZINC
(31AUG12)
103.35
103.05
102.7
102.4
102.05




 
     Important Events for the Day
9th AUG 2012 (Time – IST)
EUR ECB Publishes Aug. Monthly Report at 13:30

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