Commodities Market Summary
Gold
rebounded sharply from its overnight crash to conquer another fresh historic
peak and came within a striking distance of the Rs 32,000-mark at the bullion
hub here on fresh bout of frenzied speculative buying ignited by encouraging
global cues. Silver also regained
smartly and revisited nearly an 11-1/2 month high, driven by aggressive
stockist demand amid strong industrial off-take. Oil traded near the highest
level in a week amid speculation that countries from the U.S. to China will add
economic stimulus, countering signs of a slowdown that threatens fuel demand.
Futures were little changed in New York. The U.S., the world’s biggest oil
user, holds a Federal Reserve meeting to discuss monetary policy this week
after the European Central Bank last week agreed on bond purchases to ease the
euro-area’s debt crisis. Net crude imports last month by China, the second-
biggest consumer of the commodity, slid to the lowest level in almost two years
amid slowing global demand for the nation’s goods, government figures showed
today.
Levels for the Day
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
ALUMINIUM (28SEP12)
|
111.85
|
111.5
|
111.1
|
110.75
|
110.35
|
|
COPPER
(30NOV12)
|
452.6
|
450.1
|
448.1
|
445.6
|
443.7
|
|
CRUDEOIL (19SEP12)
|
5332
|
5323
|
5315
|
5306
|
5298
|
|
GOLD
(05OCT12)
|
32016
|
31956
|
31915
|
31855
|
31814
|
|
SILVER
(05DEC12)
|
64326
|
64108
|
63936
|
63718
|
63546
|
|
LEAD
(28SEP12)
|
117.6
|
116.9
|
116.05
|
115.35
|
114.5
|
|
NATURALGAS (25SEP12)
|
150.0
|
148.9
|
148.3
|
147.2
|
146.6
|
|
NICKEL
(28SEP12)
|
915.6
|
912.8
|
910
|
907.2
|
904.4
|
Buy at 917/918 SL 910 TGT
928/933
|
ZINC
(28SEP12)
|
109.1
|
108.6
|
108.1
|
107.6
|
107.1
|
|
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