Commodities Market Summary
|
Gold futures rallied
to an 11-week high during U.S. morning trade on Tuesday, as the U.S. dollar
weakened broadly amid improved hopes for fresh measures by the European Central
Bank to tackle the region’s ongoing debt crisis. Market participants were also anticipating
the minutes of the Federal Reserve’s August policy meeting later in the week,
amid speculation over how close the U.S. central bank may be to implementing
another round of stimulus measures. On the Comex division of the New York
Mercantile Exchange, gold futures for October delivery traded at USD1,639.45 a
troy ounce during U.S. morning trade, jumping 1.15%. It earlier rose by as much
as 1.2% to trade at a session high of USD1,639.85 a troy ounce, the strongest
level since June 6. Crude for October delivery was at $96.86 a barrel, up 2
cents, in electronic trading on the New York Mercantile Exchange at 12:15 p.m.
Singapore time. The September contract, which expired yesterday, rose 71 cents
to $96.68, the highest close since May 10. Front-month prices are 2 percent
lower this year. Brent oil for October settlement was at $114.68 a barrel, up 4
cents, on the London-based ICE Futures Europe exchange. The European benchmark
grade’s premium to West Texas Intermediate was at $17.82, compared with $17.80
yesterday.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
|
ALUMINIUM (31AUG12)
|
102.95
|
102.35
|
101.6
|
101
|
100.25
|
|
|
|
COPPER
(31AUG12)
|
426.3
|
423.3
|
419.1
|
416.1
|
411.9
|
Buy at 421.50/422 SL 418 TGT
426/429
|
|
|
CRUDEOIL (20AUG12)
|
5445
|
5414
|
5378
|
5347
|
5311
|
|
|
|
GOLD
(04SEP12)
|
30448
|
30383
|
30270
|
30205
|
30092
|
|
|
|
SILVER
(05SEP12)
|
55927
|
55584
|
54949
|
54606
|
53971
|
|
|
|
LEAD
(31AUG12)
|
107.5
|
106.5
|
105.8
|
104.8
|
104.1
|
|
|
|
NATURALGAS (28AUG12)
|
162.2
|
158.9
|
154.2
|
150.9
|
146.2
|
|
|
|
NICKEL
(31AUG12)
|
885.4
|
880.0
|
872.5
|
867.1
|
859.6
|
|
|
|
ZINC
(31AUG12)
|
101.2
|
100.4
|
100.0
|
99.2
|
98.8
|
|
|
|
22nd AUG 2012 (Time – IST)
USD Fed Releases Minutes from August 1 FOMC Meeting at 23:30
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