Commodities Market Summary
Gold
declined for the first time in four days as a rally to the highest level in
more than five months prompted sales before the European Central Bank meets to
discuss ways to stem the region’s debt crisis. Silver retreated. Immediate-delivery
gold lost as much as 0.3 percent to $1,690.55 an ounce, and was at $1,692.30 at
8:55 a.m. in Singapore. The metal reached $1,699.05 yesterday, the most
expensive since March 13. Bullion’s so-called 14-day relative- strength index
held for a fourth day above the level of 70 that indicates to some analysts who
study such charts that a drop in prices may be imminent. Oil traded near the
lowest level in almost a week in New York after a report showed manufacturing
shrinking in the U.S., the world’s biggest crude consumer. Futures were little
changed after slipping 1.2 percent yesterday, the most since Aug. 2. U.S.
manufacturing fell for a third month in August, according to the Institute for
Supply Management’s factory index yesterday, adding to contractions in Europe
and China. Oil also dropped as companies resumed production in the Gulf of
Mexico. Crude stockpiles probably slid 5.5 million barrels last week as
Hurricane Isaac shut offshore platforms.
|
5th Sep 2012 (Time – IST)
CAD Bank of Canada
Rate Decision (SEP 5) at 18:30
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (28SEP12)
|
109.4
|
108.5
|
107.3
|
106.4
|
105.2
|
|
|
COPPER
(30NOV12)
|
432.7
|
431.1
|
429.9
|
428.3
|
427.1
|
|
|
CRUDEOIL (19SEP12)
|
5453
|
5383
|
5344
|
5274
|
5235
|
|
|
GOLD
(05OCT12)
|
31599
|
31524
|
31412
|
31337
|
31225
|
|
|
SILVER
(05SEP12)
|
61447
|
61027
|
60363
|
59943
|
59279
|
|
|
LEAD
(28SEP12)
|
112.2
|
111.4
|
110.7
|
110.0
|
109.3
|
|
|
NATURALGAS (25SEP12)
|
165.8
|
163.2
|
159.0
|
156.4
|
152.2
|
|
|
NICKEL
(28SEP12)
|
914.5
|
905.7
|
900.6
|
891.8
|
886.7
|
Sell at 899/900
SL 906 TGT 890/886
|
|
ZINC
(28SEP12)
|
105.4
|
104.7
|
103.9
|
103.2
|
102.4
|
|
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