Commodities Market Summary
Gold
futures rose to 29-week high on speculation that steps by central banks to
bolster economic growth will spur demand for the metal as a store of value. The
Bank of Japan (8301) said today that it will add 10 trillion yen ($127 billion)
to a fund that buys assets. On Sept. 13, the Federal Reserve announced a third
round of U.S. monetary stimulus. This month, European Central Bank President
Mario Draghi gave details on a plan to buy debt of member states, while China
approved infrastructure spending. On the Comex in New York, gold futures for
December delivery climbed 50 cents to settle at $1,771.70 an ounce at 1:45 p.m.
Earlier, the price reached $1,781.80, the highest for a most-active contract
since Feb. 29. The metal has gained 13 percent this year. Silver futures for
December delivery fell 0.4 percent to $34.588 an ounce. On the New York
Mercantile Exchange, platinum futures for October delivery increased 0.3
percent to $1,640.40 an ounce. Oil dropped for a fourth day in New York after
stockpiles rose the most since March in the U.S., the world’s biggest crude
user. Futures fell as much as 0.6 percent, extending yesterday’s decline of 3.5
percent, the biggest since July. Oil inventories surged by 8.5 million barrels
last week as production and imports rebounded after companies reopened
platforms in the Gulf of Mexico after Hurricane Isaac, Energy Department data
showed. Oil for October delivery dropped as much as 59 cents to $91.39 a barrel
in electronic trading on the New York Mercantile Exchange, as was at $91.40 at
11:49 a.m. Singapore time. The contract, which expires today, slid $3.31
yesterday to $91.98, the lowest close since Aug. 3. The more-active November
future was at $92 a barrel, down 30 cents. Front-month prices are 7.5 percent
lower this year.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (28SEP12)
|
116.35
|
115.7
|
115.15
|
114.5
|
113.95
|
|
|
COPPER
(30NOV12)
|
461.3
|
459.6
|
457.6
|
455.9
|
453.9
|
Buy at 453 SL 449 tgt 458/459
|
|
CRUDEOIL (19OCT12)
|
5262
|
5115
|
5032
|
4885
|
4802
|
|
|
GOLD
(05OCT12)
|
32196
|
32107
|
32006
|
31917
|
31816
|
|
|
SILVER
(05DEC12)
|
65040
|
64760
|
64446
|
64166
|
63852
|
|
|
LEAD
(28SEP12)
|
126.35
|
124.4
|
122.95
|
121
|
119.55
|
|
|
NATURALGAS (25SEP12)
|
157.7
|
154.5
|
151.8
|
148.6
|
145.9
|
|
|
NICKEL
(28SEP12)
|
979.6
|
972.0
|
966.7
|
959.1
|
953.8
|
|
|
ZINC
(28SEP12)
|
116.3
|
115.05
|
113.9
|
112.65
|
111.5
|
|
|
20th Sep 2012 (Time – IST)
EUR German
Producer Prices (YoY) (AUG) at 11:30
No comments:
Post a Comment