Commodities Market Summary
Gold
gained to the highest level in more than five months as global data
strengthened the case for more central-bank measures to boost growth,
increasing demand for the metal. Silver climbed to the highest price since April.
Immediate-delivery gold rose as much as 0.3 percent to $1,697.20 an ounce, the
most expensive since March 13, and was at $1,695.30 at 11:32 a.m. in Singapore.
Assets in gold-backed exchange-traded products, which reached a record
2,460.462 metric tons on Aug. 29, stood at 2,459.963 tons on Aug. 31. Oil
climbed to the highest intraday price in more than a week in New York on
speculation central banks will take more steps to boost economic growth.
Futures gained as much as 0.9 percent from the Aug. 31 close. China should
“decisively” expand the strength of its fine-tuning after changes in the
economy and markets, the official People’s Daily newspaper said in a front-page
essay yesterday. European Central Bank President Mario Draghi told officials he
would be comfortable buying three-year government bonds to cut borrowing costs
for nations in financial distress. The U.S. Energy Department will release its
weekly report on oil stockpiles and demand Sept. 6.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (28SEP12)
|
107.9
|
107.2
|
105.9
|
105.2
|
103.9
|
|
|
COPPER
(30NOV12)
|
432.45
|
431.05
|
429.35
|
427.95
|
426.25
|
Buy at
429/429.50 SL 426 TGT 434/36
|
|
CRUDEOIL (19SEP12)
|
5445
|
5418
|
5377
|
5350
|
5309
|
|
|
GOLD
(05OCT12)
|
31533
|
31408
|
31297
|
31172
|
31061
|
|
|
SILVER
(05SEP12)
|
62112
|
60915
|
59767
|
58570
|
57422
|
|
|
LEAD
(28SEP12)
|
111.5
|
110.8
|
109.9
|
109.2
|
108.2
|
|
|
NATURALGAS (25SEP12)
|
156.8
|
156.1
|
155.5
|
154.8
|
154.2
|
|
|
NICKEL
(28SEP12)
|
916.6
|
910.4
|
902.1
|
895.9
|
887.6
|
|
|
ZINC
(28SEP12)
|
104.7
|
104.0
|
103.1
|
102.5
|
101.6
|
|
|
4th Sep 2012 (Time – IST)
AUD Reserve Bank
of Australia Rate Decision (SEP 4) at 10:00
CHF Gross Domestic
Product (YoY) (2Q) at 11:15
EUR Euro-Zone
Producer Price Index (YoY) (JUL) at 14:30
USD ISM
Manufacturing (AUG) at 19:30
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