Commodities Market Summary
Gold
climbed for a second day before a Federal Reserve policy meeting that may
introduce more stimulus to boost the world’s largest economy. Platinum is
poised for the longest rally in more than a year. Cash gold rose as much as 0.3
percent to $1,736.45 an ounce, and traded at $1,735.30 at 11:20 a.m., extending
yesterday’s 0.3 percent gain as the dollar fell. The metal touched $1,741.70 on
Sept. 7, the most expensive since Feb. 29. Holdings in bullion- backed
exchange-traded products expanded to a record 2,487.361 metric tons yesterday.
Oil traded near the highest level in three weeks amid speculation China and the
U.S. will add stimulus to their economies, sustaining demand for fuel in the
world’s biggest crude users. Futures were little changed after rising for a
fifth day yesterday, the longest run of gains since July. Chinese Premier Wen
Jiabao signaled the government has more room for fiscal and monetary policy to
support growth. The Federal Open Market Committee starts a two-day meeting
today, when it may announce measures to stimulate the U.S. economy. The
nation’s crude stockpiles probably fell 2.9 million barrels last week.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (28SEP12)
|
114.8
|
114.2
|
113.3
|
112.7
|
111.7
|
|
|
COPPER
(30NOV12)
|
457.4
|
455.2
|
452.4
|
450.1
|
447.3
|
|
|
CRUDEOIL (19SEP12)
|
5398
|
5377
|
5351
|
5330
|
5304
|
|
|
GOLD
(05OCT12)
|
32051
|
31963
|
31886
|
31798
|
31721
|
|
|
SILVER
(05DEC12)
|
64563
|
64183
|
63911
|
63531
|
63259
|
|
|
LEAD
(28SEP12)
|
117.9
|
117.3
|
116.5
|
115.9
|
115.1
|
|
|
NATURALGAS (25SEP12)
|
177.1
|
171.5
|
161.9
|
156.3
|
146.7
|
|
|
NICKEL
(28SEP12)
|
937.0
|
932.0
|
927.1
|
922.1
|
917.2
|
Sell at 929/930 SL 934 TGT 918/915
|
|
ZINC
(28SEP12)
|
111.9
|
111.0
|
109.9
|
109.1
|
108.0
|
|
|
12th Sep 2012 (Time – IST)
EUR EU to
Announce Details of Banking Union at 09:30
EUR German
Consumer Price Index - EU Harmonised (YoY) (AUG F) at 11:30
EUR German
Constitutional Court Announces ESM Ruling at 13:30
GBP Jobless
Claims Change (AUG) at 14:00
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