Commodities Market Summary
Gold declined to the
lowest in more than a week as a stronger dollar eroded demand for the precious
metal as an alternative investment. The dollar gained the most in more than two
months against a basket of currencies after the International Monetary Fund
said the world economy will grow 3.3 percent this year, the slowest pace since
the 2009 recession. The region using the European currency will contract 0.4
percent this year, 0.1 percentage point worse than forecast in July, the IMF
said. Gold rallied last week as central banks from the U.S. to Asia pledged to
spur growth. Oil declined from the highest level in a week in New York before a
government report that may show stockpiles climbed in the U.S., the world’s
biggest crude user. Futures slipped as much as 0.7 percent after surging 3.4
percent yesterday amid increased Middle East tension. Crude inventories
probably rose by 1.5 million barrels last week, according to a Bloomberg survey
before an Energy Department report tomorrow. The American Petroleum Institute
will release separate supply data today. London-traded Brent prices are “still
high” and Saudi Arabia will work toward “moderating” them, Oil Minister Ali
al-Naimi said yesterday. Crude for November delivery decreased as much as 68
cents to $91.71 a barrel in electronic trading on the New York Mercantile
Exchange and was at $91.86 at 2:14 p.m. Sydney time. The contract gained $3.06
yesterday to $92.39, the highest close since Oct. 1. Prices are down 7 percent
this year.
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (31OCT12)
|
109.4
|
108.4
|
107.8
|
106.9
|
106.3
|
|
|
COPPER
(30NOV12)
|
437.25
|
436
|
434.95
|
433.7
|
432.65
|
Sell at 435/436 SL 439 TGT 430/427
|
|
CRUDEOIL (19OCT12)
|
5031
|
4960
|
4833
|
4762
|
4635
|
|
|
GOLD
(05DEC12)
|
31500
|
31410
|
31339
|
31249
|
31178
|
|
|
SILVER
(05DEC12)
|
62186
|
61931
|
61525
|
61270
|
60864
|
|
|
LEAD
(31OCT12)
|
119.4
|
118.9
|
118.5
|
118.0
|
117.6
|
|
|
NATURALGAS (26OCT12)
|
191.5
|
187.9
|
182.4
|
178.8
|
173.3
|
|
|
NICKEL
(31OCT12)
|
964.9
|
956.2
|
950.4
|
941.7
|
935.9
|
|
|
ZINC
(31OCT12)
|
107.3
|
106.3
|
105.7
|
104.7
|
104.1
|
|
Important Events for the Day
10th Oct 2012 (Time – IST)
USD Fed
Releases Beige Book Economic Survey at
23:30
No comments:
Post a Comment