Commodities Market Summary
|
Gold declined for a
third day on speculation that Federal Reserve Chairman Ben S. Bernanke won’t
commit the central bank to further stimulus in a speech this week even as
investment holdings expanded to a record. Immediate-delivery gold fell as much
as 0.4 percent to $1,658.30 an ounce and was at $1,660.35 at 9:47 a.m. in
Singapore. The price reached $1,676.90 yesterday, the highest since April, amid
expectations of further easing from the Fed. Oil traded near the lowest level
in two weeks on speculation Tropical Storm Isaac’s impact on output in the Gulf
of Mexico will be limited. Gasoline was near a four- month high as a fire
spread at Venezuela’s biggest refinery. Oil for October delivery was at $95.31
a barrel, down 16 cents, in electronic trading on the New York Mercantile
Exchange at 12:13 p.m. Sydney time. The contract yesterday fell 68 cents, or
0.7 percent, to $95.47, the lowest close since Aug. 15. Prices are down 3.6
percent this year. Brent oil for October settlement declined 31 cents, or 0.3
percent, to $111.95 a barrel on the London-based ICE Futures Europe exchange.
The European benchmark grade’s premium to West Texas Intermediate was at
$16.64, from $16.79 yesterday.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (31AUG12)
|
105.8
|
105.25
|
104.9
|
104.35
|
104
|
|
|
COPPER
(31AUG12)
|
430.25
|
428.5
|
427.05
|
425.3
|
423.85
|
Sell at 424.50/425 SL 427.50
tgt 420/419
|
|
CRUDEOIL (19SEP12)
|
5485
|
5396
|
5335
|
5246
|
5185
|
|
|
GOLD
(04SEP12)
|
31199
|
31134
|
31046
|
30981
|
30893
|
|
|
SILVER
(05SEP12)
|
59000
|
58520
|
57964
|
57484
|
56928
|
|
|
LEAD
(31AUG12)
|
110.55
|
109.8
|
109.2
|
108.45
|
107.85
|
|
|
NATURALGAS (28AUG12)
|
156.3
|
152
|
149.5
|
145.2
|
142.7
|
|
|
NICKEL
(31AUG12)
|
924.4
|
918.8
|
914.8
|
909.2
|
905.2
|
|
|
ZINC
(31AUG12)
|
104.3
|
103.6
|
103.2
|
102.5
|
102.1
|
|
|
28th AUG 2012 (Time – IST)
U.S. Consumer Confidence AT 8:00:00
PM For Aug, 2012
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