Commodities Market Summary
Spot gold traded at $1,590.15 an ounce at 11:41
a.m. in Singapore, after dropping 0.3 percent to the lowest level since July
25. Holdings in exchange-traded products expanded for a third day yesterday,
climbing to a two-week high of 2,397.222 metric tons. Bullion is 2 percent
lower this week, the biggest such loss since the five days to June 22, after
the Federal Reserve held off announcing further monetary easing and European
Central Bank President Mario Draghi failed to make immediate efforts to stem
the region’s debt crisis. December-delivery futures rose 0.2 percent to
$1,593.10 an ounce on the Comex. Spot
silver was little changed at $27.165 an ounce and was down 2.1 percent this
week for the worst such performance in six weeks. Cash platinum declined for a
fourth day, dropping as much as 0.4 percent to $1,383.50 an ounce. It was last
at $1,388 and was set for a fifth weekly slide. Palladium was little changed at
$570.75 an ounce, set for a weekly loss. Oil rebounded from the lowest close in
almost three weeks in New York before a report that may show hiring in the U.S.
increased. A tropical storm formed southeast of production platforms in the
Gulf of Mexico. Oil for September delivery increased as much as 42 cents to
$87.55 a barrel in electronic trading on the New York Mercantile Exchange and
was at $87.42 at 12:08 p.m. Sydney time. The contract yesterday fell $1.78 to
$87.13, the lowest close since July 13. Prices are 3 percent lower this week
and down 12 percent this year. Brent crude for September settlement gained 28
cents, or 0.3 percent, to $106.18 a barrel on the London-based ICE Futures
Europe exchange. The European benchmark’s premium to West Texas Intermediate
was at $18.75. It closed at $18.77 yesterday, the widest gap since May.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (31AUG12)
|
104.52
|
103.93
|
103.52
|
102.93
|
102.52
|
Sell at
103.35/103.50
SL 104 TGT 102.50
|
|
COPPER
(31AUG12)
|
420.85
|
416.25
|
413.65
|
409.05
|
406.45
|
|
|
CRUDEOIL (20AUG12)
|
5052
|
4995
|
4950
|
4893
|
4848
|
|
|
GOLD
(04AUG12)
|
29828
|
29747
|
29668
|
29587
|
29508
|
|
|
SILVER
(05SEP12)
|
53782
|
53343
|
53081
|
52642
|
52380
|
|
|
LEAD
(31AUG12)
|
106.75
|
105.85
|
105.1
|
104.2
|
103.45
|
|
|
NATURALGAS (28AUG12)
|
181.7
|
174.6
|
170.6
|
163.5
|
159.5
|
|
|
NICKEL
(31AUG12)
|
889.0
|
879.9
|
873.6
|
864.5
|
858.2
|
|
|
ZINC
(31AUG12)
|
102.75
|
102.4
|
102
|
101.65
|
101.25
|
|
|
3rd AUG 2012 (Time – IST)
EUR Euro-Zone Retail Sales (YoY)
(JUN) at14:00
USD Change in Non-farm Payrolls
(JUL) at18:00
USD Unemployment Rate (JUL) at
18:00
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