Commodities Market Summary
Gold declined for the first time in three sessions
in New York as signs that European leaders are making progress to stem the
crisis eroded demand for the precious metal as a haven.Gold futures for
December delivery fell 0.2 percent to settle at $1,612.80 an ounce at 1:48 p.m.
on the Comex in New York. Prices gained 1.6 percent in the previous two
sessions. Silver futures for September delivery advanced 0.8 percent to $28.086
an ounce in New York, rising for the third straight session. On the New York
Mercantile Exchange, platinum futures for October delivery gained 0.6 percent
to $1,410.40 an ounce. Palladium futures for September delivery added 1.5
percent to $588.20 an ounce. Oil slid from the highest close in more than two
months as investors sold contracts on speculation that recent gains were
excessive amid signs of weakening demand in the U.S, the world’s biggest
consumer of crude.Oil for September delivery decreased as much as 50 cents to
$93.17 a barrel in electronic trading on the New York Mercantile Exchange and
was at $93.18 at 1:09 p.m. Singapore time. It climbed 1.6 percent yesterday to
$93.67, the highest settlement since May 15. The contract has rebounded 20
percent from its low this year of $77.69 on June 28 and gained 5.8 percent so
far in August. Prices are 5.7 percent lower since the start of the year. Brent
crude for September settlement fell 45 cents, or 0.4 percent, to $111.55 a
barrel on the London-based ICE Futures Europe exchange. The European
benchmark’s premium to West Texas Intermediate was $18.35, down from $18.33
yesterday.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (31AUG12)
|
104.8
|
104.3
|
103.7
|
103.2
|
102.7
|
|
|
COPPER
(31AUG12)
|
422.0
|
420.2
|
417.4
|
415.6
|
412.8
|
Buy above 417 SL 414 Tgt 421/422
|
|
CRUDEOIL (20AUG12)
|
5246
|
5210
|
5146
|
5110
|
5046
|
|
|
GOLD
(04SEP12)
|
30082
|
29925
|
29840
|
29683
|
29598
|
|
|
SILVER
(05SEP12)
|
53611
|
53490
|
53375
|
53254
|
53139
|
|
|
LEAD
(31AUG12)
|
105.95
|
105.5
|
105.05
|
104.6
|
104.15
|
|
|
NATURALGAS (28AUG12)
|
167.3
|
165.5
|
162.7
|
160.9
|
158.1
|
|
|
NICKEL
(31AUG12)
|
882.7
|
878.3
|
875.5
|
871.1
|
868.3
|
Buy at 875/876 SL 869 TGT 887/890
|
|
ZINC
(31AUG12)
|
103.4
|
103.0
|
102.7
|
102.3
|
102.0
|
|
|
8th AUG 2012 (Time – IST)
GBP Bank of England Inflation Report at15:00
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