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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