Commodities Market Summary
|
Gold prices fell for the third day in a row by
losing Rs 100 to Rs 30,100 per 10 grams in the bullion market here today on
reduced offtake, while silver gained Rs 300 to Rs 53,300 per kg on some fag-end
buying. Silver coins shot up by Rs 2,000 to Rs 63,000 for buying and Rs 64,000
for selling of 100 pieces following an upsurge in the festive season demand.
Traders said sluggish demand at prevailing higher levels kept pressure on gold
prices, while silver recovered on fresh buying by jewellers and coin makers to
meet the festive season demand amid higher global trend. In New York last
night, silver surged 2.47 per cent to $ 27.80 an ounce. Back home, gold of 99.9
and 99.5 per cent purity fell for the third day in a row and shed another Rs
100 each to Rs 30,100 and Rs 29,900 per 10 grams, respectively. The metal lost
Rs 320 in last two sessions. Sovereign also declined by Rs 50 to Rs 24,400 per
piece of eight grams. On the other hand, silver ready recovered by Rs 300 to Rs
53,300 per kg and weekly-based delivery by Rs 280 to Rs 53,280 per kg. The
white metal had lost Rs 1,000 in the previous two trading sessions. Silver
coins also spurted by Rs 2000 to Rs 63,000 for buying and Rs 64,000 for selling
of 100 pieces following upsurge in demand due to festive season. Oil slid from
the highest close in two weeks in New York amid speculation that its biggest
gain in more than a month was excessive. Tropical Storm Ernesto headed westward
in the Caribbean after weakening. Oil for September delivery slid as much as 45
cents to $90.95 a barrel in electronic trading on the New York Mercantile
Exchange and was at $91.10 at 1:48 p.m. Sydney time. It surged $4.27 to $91.40
on Aug. 3, the highest settlement since July 20. Prices are 7.8 percent lower
this year. Brent crude for September settlement fell 49 cents, or 0.5 percent,
to $108.45 a barrel on the London-based ICE Futures Europe exchange. The
European benchmark’s premium to West Texas Intermediate was at $17.34 from
$17.54 on Aug. 3.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (31AUG12)
|
104.25
|
103.6
|
103.15
|
102.5
|
102.05
|
|
|
COPPER
(31AUG12)
|
417.3
|
415.4
|
412.45
|
410.55
|
407.6
|
|
|
CRUDEOIL (20AUG12)
|
5199
|
5135
|
5025
|
4961
|
4851
|
|
|
GOLD
(04SEP12)
|
30748
|
30203
|
29852
|
29307
|
28956
|
|
|
SILVER
(05SEP12)
|
53872
|
53595
|
53151
|
52874
|
52430
|
|
|
LEAD
(31AUG12)
|
106.05
|
105.65
|
105.05
|
104.65
|
104.05
|
|
|
NATURALGAS (28AUG12)
|
169.9
|
165.8
|
162.9
|
158.8
|
155.9
|
|
|
NICKEL
(31AUG12)
|
884.3
|
879.2
|
873.9
|
868.8
|
863.5
|
Buy at 875/876 SL 869 TGT 887/890
|
|
ZINC
(31AUG12)
|
102.75
|
102.4
|
102
|
101.65
|
101.25
|
|
|
6th AUG 2012 (Time – IST)
USD Fed's Bernanke Speaks on
Economic Measurement at 18:30
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