Commodities Market Summary
Gold advanced for
the first time in three days, extending the best quarterly gain in more than
two years, as central banks and investors bought the metal to hedge against the
prospect of weaker currencies and slowing growth. Spot gold rose as much as 0.3
percent to $1,765.20 an ounce and was at $1,763.80 at 11:57 a.m. in Singapore.
The metal reached $1,787.52 on Sept. 21, the highest price since Feb. 29, and
is 10 percent higher since the end of June. That’s set for its biggest
quarterly climb since the three months to June 2010. Copper dropped amid
concern that global stimulus measures won’t be enough to bolster growth,
curbing demand prospects. Industrial metals dropped. Copper for delivery in
three months lost as much as 1.1 percent to $8,185 a metric ton on the London
Metal Exchange and traded at $8,234 at 11:34 a.m. Tokyo time. The metal is up
8.1 percent this month, the most since January and is heading for a second
monthly gain. December-delivery metal lost 0.2 percent to $3.7510 a pound on
the Comex. Oil traded near the lowest level in seven weeks after a report
showed rising U.S. stockpiles and the Federal Reserve Bank of Philadelphia
President Charles Plosser said a new stimulus plan probably won’t boost
economic growth. Oil traded near the lowest level in seven weeks after a report
showed rising U.S. stockpiles and the Federal Reserve Bank of Philadelphia
President Charles Plosser said a new stimulus plan probably won’t boost
economic growth.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (28SEP12)
|
111.5
|
111.1
|
110.7
|
110.2
|
109.8
|
|
|
COPPER
(30NOV12)
|
448.2
|
446.6
|
444.6
|
443.0
|
441.0
|
|
|
CRUDEOIL (19OCT12)
|
5014
|
4955
|
4919
|
4860
|
4824
|
|
|
GOLD
(05OCT12)
|
31587
|
31493
|
31427
|
31333
|
31267
|
|
|
SILVER
(05DEC12)
|
63550
|
62932
|
62522
|
61904
|
61494
|
|
|
LEAD
(28SEP12)
|
124.35
|
123.5
|
122
|
121.15
|
119.65
|
|
|
NATURALGAS (25SEP12)
|
156.5
|
155.3
|
153.7
|
152.5
|
150.9
|
|
|
NICKEL
(28SEP12)
|
989.0
|
983.1
|
972.6
|
966.7
|
956.2
|
Buy at 975 SL 969
tgt 984/992
|
|
ZINC
(28SEP12)
|
113.3
|
112.6
|
111.7
|
111.0
|
110.0
|
|
|
26th Sep 2012 (Time – IST)
EUR German Consumer Price Index (YoY) (SEP P) at 17:30
No comments:
Post a Comment