Commodities Market Summary
Gold
prices eased further at the bullion market here today on subdued off-take from
stockists and traders as well as lower local buying interest at the existing
levels. Silver, however, recovered modestly on fresh speculative demand from
investors. Oil rose from the lowest close in a week in New York as investors
speculated that the biggest drop in two months was exaggerated. Futures
advanced as much as 0.6 percent after slipping 2.4 percent yesterday, the most
since July 23. Prices tumbled more than $3 in less than a minute as October
options were about to expire, extending earlier declines after the Federal
Reserve Bank of New York’s general economic index, known as the Empire State
Index, fell to a three-year low. Oil for October delivery gained as much as 61
cents to $97.23 a barrel in electronic trading on the New York Mercantile
Exchange and was at $96.93 at 12:28 p.m. Sydney time. The contract slid $2.38
yesterday to $96.62, the lowest close since Sept. 10. Prices are 1.9 percent
lower this year.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (28SEP12)
|
117.1
|
116.3
|
115.8
|
115.0
|
114.5
|
|
|
COPPER
(30NOV12)
|
457.8
|
455.5
|
453.7
|
451.3
|
449.5
|
Buy at 454/455
SL 450 tgt 462/463
|
|
CRUDEOIL (19SEP12)
|
5483
|
5378
|
5250
|
5145
|
5017
|
|
|
GOLD
(05OCT12)
|
32011
|
31911
|
31831
|
31731
|
31651
|
|
|
SILVER
(05DEC12)
|
64632
|
64196
|
63901
|
63465
|
63170
|
|
|
LEAD
(28SEP12)
|
122.3
|
121.6
|
120.6
|
120.0
|
119.0
|
|
|
NATURALGAS (25SEP12)
|
164
|
159.7
|
157
|
152.7
|
150
|
|
|
NICKEL
(28SEP12)
|
997.0
|
986.2
|
968.3
|
957.5
|
939.6
|
|
|
ZINC
(28SEP12)
|
112.7
|
112.0
|
111.4
|
110.7
|
110.1
|
|
Important Events for the Day
18th Sep 2012 (Time – IST)
GBP Consumer
Price Index (YoY) (AUG) at 14:00
EUR German ZEW
Survey (Economic Sentiment) (SEP) at 14:30
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