Commodities Market Summary
Gold is poised to
climb for the first time in four days, extending the best quarterly gain in
more than two years, as central banks boost stimulus to bolster growth and
strikes halt output from mines in South Africa. Spot gold was little changed at
$1,754.85 an ounce at 11:52 a.m. in Singapore after losing 0.5 percent
yesterday as Europe’s debt crisis worsened, boosting the dollar. The metal is
up 9.9 percent since June 30, set for the biggest quarterly gain since the three
months to June 30, 2010. December-delivery bullion rose 0.2 percent to
$1,757.10 an ounce on the Comex in New York. Oil traded near the lowest level
in almost two months after U.S. fuel demand slipped to the weakest since April
amid concern the European debt crisis will worsen and derail the global
economy. Futures were little changed after sliding 1.5 percent yesterday, the
seventh decline in eight days. U.S. fuel demand fell in the past four weeks, an
Energy Department report showed. Spaniards held protests and Greeks staged a
general strike to oppose austerity measures. Spain’s 10-year bond yield rose
above 6 percent, near the level seen before European Central Bank President
Mario Draghi offered to buy struggling nations’ debt.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (28SEP12)
|
111.3
|
110.6
|
110.0
|
109.2
|
108.6
|
|
|
COPPER
(30NOV12)
|
447.4
|
444.7
|
442.25
|
439.55
|
437.1
|
Sell at 440/441 SL 445 tgt
434/433
|
|
CRUDEOIL (19OCT12)
|
4933
|
4878
|
4839
|
4784
|
4745
|
|
|
GOLD
(05OCT12)
|
31632
|
31471
|
31338
|
31177
|
31044
|
|
|
SILVER
(05DEC12)
|
63385
|
63021
|
62425
|
62061
|
61465
|
|
|
LEAD
(28SEP12)
|
124.05
|
122.65
|
121.7
|
120.3
|
119.35
|
|
|
NATURALGAS (26OCT12)
|
178.1
|
175.1
|
170.2
|
167.2
|
162.3
|
|
|
NICKEL
(28SEP12)
|
987.2
|
976.0
|
969.2
|
958.0
|
951.2
|
|
|
ZINC
(28SEP12)
|
113.2
|
111.65
|
110.8
|
109.25
|
108.4
|
|
Important Events for the Day
27th Sep 2012 (Time – IST)
EUR German Unemployment Change (SEP) at 13:25
GBP Gross Domestic Product (QoQ) (2Q F) at 14:00
USD Gross Domestic Product (Annualized) (2Q T) at 18:00
USD Gross Domestic Product Price Index (2Q T) at 18:00
USD Durable Goods Orders (AUG) at 18:00
No comments:
Post a Comment