Commodities Market Summary
|
Gold advanced for a
second day, paring this week’s losses, as holdings in bullion-backed exchange
traded products climbed to a record on speculation that central banks may
implement more stimulus to spur growth. Spot gold climbed as much as 0.2
percent to $1,771.30 an ounce and traded at $1,769.55 at 12:10 p.m. Singapore
time, heading for a 0.6 percent drop this week, the most since August. Holdings
in exchange-traded products rose for an 11th straight day, reaching an all-time
high of 2,582.98 metric tons yesterday. U.S. jobless claims fell 30,000 to
339,000 in the week ended Oct. 6, the fewest since February 2008, government
data showed yesterday. The Dollar Index,
a gauge against the currencies of six major U.S. trading partners, was
little changed after climbing to a one-month high reached yesterday. Oil headed
for its first weekly gain in a month in New York after U.S. jobless benefit
claims dropped to the lowest level in four years and rising Middle East
tensions prompted concern crude supplies may be disrupted. Futures were little
changed after gaining 0.9 percent yesterday. First-time unemployment claims
fell to 339,000 last week, the lowest since February 2008, according to data
from the Labor Department. Brent oil traded near the highest premium to West
Texas Intermediate in a year after Turkey said a Syrian plane that it grounded
contained munitions, while Italian Foreign Minister Giulio Terzi said Europe is
prepared to tighten sanctions on Iran.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (31OCT12)
|
106.8
|
106.25
|
105.7
|
105.15
|
104.6
|
|
|
COPPER
(30NOV12)
|
441.5
|
439.7
|
438.1
|
436.3
|
434.8
|
Sell at 437/38 SL 441 TGT 431/429
|
|
CRUDEOIL (19OCT12)
|
4917
|
4886
|
4861
|
4830
|
4805
|
|
|
GOLD
(05DEC12)
|
31600
|
31460
|
31372
|
31232
|
31144
|
|
|
SILVER
(05DEC12)
|
62561
|
62170
|
61950
|
61559
|
61339
|
|
|
LEAD
(31OCT12)
|
117.6
|
116.2
|
115.5
|
114.1
|
113.4
|
|
|
NATURALGAS (26OCT12)
|
196
|
192.8
|
188
|
184.8
|
180
|
|
|
NICKEL
(31OCT12)
|
951.6
|
942
|
934.6
|
925
|
917.6
|
|
|
ZINC
(31OCT12)
|
105.3
|
104.0
|
103.2
|
101.8
|
101.0
|
|
|
12th Oct 2012 (Time – IST)
18:00 USD
Producer Price Index Ex Food & Energy (YoY) (SEP)
18:00 USD
Producer Price Index (YoY) (SEP)
19:25 USD U. of
Michigan Confidence (OCT P)
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