Commodities Market Summary
Gold
for December delivery on the Comex in New York traded little changed at
$1,771.30 an ounce at 6:04 a.m. in Singapore time, after topping $1,770
yesterday for the first time since February as the Federal Reserve announced a
third round of so-called quantitative easing to boost growth. The metal earlier
fell 0.2 percent. Cash bullion was little changed at $1,769.27 an ounce, after
climbing to $1,772.68 yesterday, the most expensive since February 29. Oil rose
to the highest price in four months on speculation economic-stimulus measures
by the U.S. will boost fuel demand and on concern unrest in the Middle East and
North Africa will disrupt supplies. Futures advanced as much as 0.8 percent,
erasing their decline for the year. The Fed said yesterday it will make open-
ended purchases of $40 billion of mortgage debt a month to boost the economy.
Protesters attempted to storm the U.S. embassy in Yemen and demonstrators
marched in Egypt and Iran against a film seen as insulting to Islam. Iran is
raising tension by expanding its nuclear program, according to Robert Wood, the
U.S. envoy to the International Atomic Energy Agency.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (28SEP12)
|
117.1
|
116.25
|
115
|
114.15
|
112.9
|
|
|
COPPER
(30NOV12)
|
461.3
|
458.3
|
453.4
|
450.5
|
445.6
|
|
|
CRUDEOIL (19SEP12)
|
5507
|
5440
|
5379
|
5312
|
5251
|
|
|
GOLD
(05OCT12)
|
32892
|
32609
|
32138
|
31855
|
31384
|
|
|
SILVER
(05DEC12)
|
67879
|
66586
|
64429
|
63136
|
60979
|
|
|
LEAD
(28SEP12)
|
121.2
|
120.1
|
118.2
|
117.1
|
115.2
|
|
|
NATURALGAS (25SEP12)
|
173.3
|
168.8
|
166.1
|
161.6
|
158.9
|
|
|
NICKEL
(28SEP12)
|
943.4
|
938.1
|
929.2
|
923.9
|
915.0
|
Buy at 942/943
SL 935 tgt 954/956
|
|
ZINC
(28SEP12)
|
112.8
|
112.1
|
110.9
|
110.2
|
109.1
|
|
Important Events for the Day
14th Sep 2012 (Time – IST)
EUR Euro-Zone
Consumer Price Index - Core (YoY) (AUG) at 14:30
USD Advance
Retail Sales (AUG) at 18:00
USD Consumer
Price Index Ex Food & Energy (YoY) (AUG) at 18:00
USD U. of
Michigan Confidence (SEP P) at 19:25
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