Commodities Market Summary
Gold inched up on Tuesday, consolidating above a 1-1/2-week
low hit in the previous session, as expectations for further strength in the
metal tied to recent central bank stimulus measures supported sentiment. Cash
gold dropped half a percent in the previous session, after data showing weak
German business sentiment weakened the euro and sent the dollar to a 1-1/2-week
high against a basket of currencies, weighing on dollar-priced commodities
including gold. Despite a pullback from a 6-1/2-month high hit last Friday,
gold's outlook remains rosy as investors expect the stimulus plans by central
banks to maintain a Oil rebounded after falling for a fifth day in six as
traders bought back contracts amid speculation that recent losses were
exaggerated. Oil for November delivery climbed as much as 45 cents to $92.38 a
barrel in electronic trading on the New York Mercantile Exchange and was at
$92.23 at 1:51 p.m. Sydney time. The contract decreased 96 cents to $91.93
yesterday, the lowest close since Sept. 20. Prices are down 6.6 percent this
year. Brent crude for November settlement rose 29 cents to $110.10 a barrel on
the London-based ICE Futures Europe exchange. The European benchmark grade’s
premium to West Texas Intermediate was at $17.86, from $17.88 yesterday.
|
25th Sep 2012 (Time – IST)
USD Consumer Confidence (SEP) at 19:30
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (28SEP12)
|
111.75
|
111.05
|
110.5
|
109.8
|
109.25
|
|
|
COPPER
(30NOV12)
|
447.0
|
444.7
|
442.8
|
440.5
|
438.6
|
|
|
CRUDEOIL (19OCT12)
|
4987
|
4944
|
4918
|
4875
|
4849
|
|
|
GOLD
(05OCT12)
|
31683
|
31558
|
31415
|
31290
|
31147
|
|
|
SILVER
(05DEC12)
|
63609
|
63011
|
62522
|
61924
|
61435
|
|
|
LEAD
(28SEP12)
|
121.3
|
120.8
|
120.2
|
119.7
|
119.1
|
|
|
NATURALGAS (25SEP12)
|
156.1
|
154.2
|
152.3
|
150.4
|
148.5
|
|
|
NICKEL
(28SEP12)
|
971.5
|
965.6
|
958.4
|
952.5
|
945.3
|
Buy at 963/964 SL
956 tgt 977/984
|
|
ZINC
(28SEP12)
|
112.1
|
111.4
|
110.5
|
109.9
|
109.0
|
|
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