Commodities Market Summary
Gold is poised to
advance on speculation the U.S. Federal Reserve will today announce more
stimulus to spur economic growth, hurting the dollar. Palladium is set for the
longest winning streak since February 2008. Cash gold was little changed at
$1,731.63 an ounce at 11:17 a.m. in Singapore after gaining 0.3 percent
earlier. The metal reached a six-month high of $1,746.90 yesterday. Holdings in
bullion-backed exchange-traded products expanded to a record 2,489.104 metric
tons yesterday. Oil traded near the lowest level in two days in New York after
stockpiles unexpectedly rose in the U.S., the world’s biggest crude user.
Futures were little changed after dropping for the first time in six days
yesterday. Crude inventories climbed by 1.99 million barrels last week, the
Energy Department said. The Federal Open Market Committee ends a two-day
meeting today, when it may announce additional stimulus measures for the
economy.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (28SEP12)
|
115.4
|
114.7
|
114.1
|
113.4
|
112.7
|
|
|
COPPER
(30NOV12)
|
460.8
|
456.6
|
452.7
|
448.5
|
444.5
|
Sell below 450 SL 453 TGT
443/440
|
|
CRUDEOIL (19SEP12)
|
5436
|
5395
|
5362
|
5321
|
5288
|
|
|
GOLD
(05OCT12)
|
32277
|
32072
|
31899
|
31694
|
31521
|
|
|
SILVER
(05DEC12)
|
66165
|
64731
|
63322
|
61888
|
60479
|
|
|
LEAD
(28SEP12)
|
118.9
|
117.7
|
116.9
|
115.7
|
114.8
|
|
|
NATURALGAS (25SEP12)
|
173
|
170.8
|
167.1
|
164.9
|
161.2
|
|
|
NICKEL
(28SEP12)
|
949.7
|
935.3
|
923.9
|
909.5
|
898.1
|
Sell at 924/925 SL 931 TGT 910/908
|
|
ZINC
(28SEP12)
|
112.55
|
111.4
|
110.5
|
109.35
|
108.45
|
|
|
13th Sep 2012 (Time – IST)
CHF Swiss
National Bank Rate Decision (SEP 13) at 13:00
USD Initial
Jobless Claims (SEP 8) at 18:00
USD Producer
Price Index (YoY) (AUG) at 18:00
USD Federal Open
Market Committee Rate Decision (SEP 13) at 22:00
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