Commodities Market Summary
|
Gold prices galloped
to climb another lifetime high at the domestic bullion bourses today on the
back of frantic speculative and stockist-driven buying spree ignited by highly
bullish global sentiment. Silver also shot
up to regain its five-month high led by heavy speculative build-up, coupled
with strong industrial demand. Standard gold (99.5 purity) surged by Rs 110 to
finish at Rs 30,870 per 10 gm from overnight closing level of Rs 30,760. Pure
gold (99.9 purity) rallied by a similar margin to end at Rs 31,010 per 10 gm
from Rs 30,900. Silver ready (.999 fineness) jumped by Rs 800 per kg to
conclude at Rs 58,710 over its Friday's close of Rs 57,910. On the global
front, gold ended almost flat after surging to a four-month high fuelled by
expectations that the US Federal Reserve will stimulate the economy by monetary
easing measures. Gold for December delivery advanced to $ 1,672.90 an ounce on
the Comex division of the NYMEX late yesterday. Silver for the September
contract strengthened by 16.5 cents to $ 30.62 an ounce. Oil rose the most in a
week and gasoline climbed to the highest level in four months as Tropical Storm
Isaac reduced output in the Gulf of Mexico and a fire in Venezuela shut part of
the world’s second-biggest refinery. Oil for October delivery increased as much
as $1.57 to $97.72 a barrel in electronic trading on the New York Mercantile
Exchange and was at $97.44 at 12:13 p.m. Sydney time. Front- month prices slid
12 cents to $96.15 on Aug. 24 and rose 0.2 percent last week. Futures are down
1.4 percent this year. Brent oil for October settlement rose $1.23, or 1.1
percent, to $114.82 a barrel on the London-based ICE Futures Europe exchange.
The European benchmark grade’s premium to WTI was at $17.38, from $17.44 on
Aug. 24.
Levels for the Day
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
ALUMINIUM (31AUG12)
|
106.05
|
105.4
|
104.2
|
103.55
|
102.35
|
|
COPPER
(31AUG12)
|
428.35
|
427
|
424.6
|
423.25
|
420.85
|
|
CRUDEOIL (19SEP12)
|
5423
|
5385
|
5338
|
5300
|
5253
|
Buy at 5340/5350
SL 5310 tgt 5390/5400
|
GOLD
(04SEP12)
|
31004
|
30941
|
30835
|
30772
|
30666
|
|
SILVER
(05SEP12)
|
57422
|
57186
|
56787
|
56551
|
56152
|
|
LEAD
(31AUG12)
|
110.2
|
109.4
|
108.0
|
107.2
|
105.7
|
|
NATURALGAS (28AUG12)
|
160.8
|
156.3
|
153.6
|
149.1
|
146.4
|
|
NICKEL
(31AUG12)
|
925.0
|
918.1
|
906.4
|
899.5
|
887.8
|
|
ZINC
(31AUG12)
|
105.3
|
104.1
|
102.4
|
101.2
|
99.6
|
|
No comments:
Post a Comment