Commodities Market Summary
Gold was steady on
Thursday, holding onto minor gains from the previous two sessions as investors
awaited cues from central banks on their plans to shore up the frail global
economy, while a key US employment report on Friday was also in focus. US gold
inched up 0.1 percent to $1,781.50. Technical outlook suggested gold will make
a brisk move if it can break the range of $1,760-$1,785, said Reuters market
analyst Wang Tao. Investor interest in gold remained buoyed, as holdings of
gold-backed exchange-traded funds had inched up to 74.152 million ounces by
Oct. 2, just off a record high of 74.288 million ounces hit in late September.
Oil traded near a two-month low in New York after the government reported that
U.S. crude production climbed to the highest level in more than 15 years while
fuel consumption decreased. Futures fluctuated after dropping 4.1 percent
yesterday, the most since June, following an Energy Department report that
output rose by 11,000 barrels a day to 6.52 million last week, the most since
December 1996. Fuel demand fell 0.3 percent to 18.3 million barrels a day in
the four weeks ended Sept. 28, the lowest level since April. Crude and
distillate stockpiles declined as gasoline supplies increased. Crude for
November delivery was at $88.19 a barrel, up 5 cents, on the New York
Mercantile Exchange at 11:49 a.m. Singapore time. Futures dropped $3.75
yesterday to close at $88.14, the lowest level since Aug. 2. Prices are down 11
percent this year.
4th Oct 2012 (Time – IST)
GBP BOE
Asset Purchase Target (OCT) at 16:30
GBP Bank
of England Rate Decision (OCT 4) at 16:30
EUR
European Central Bank Rate Decision (OCT 4) at 16:30
USD Fed
Releases Minutes from Sept. 13 FOMC Meeting at 23:30
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (31OCT12)
|
111.3
|
110.25
|
109.65
|
108.6
|
108
|
|
|
COPPER
(30NOV12)
|
442.4
|
440.6
|
439.2
|
437.4
|
435.9
|
Buy ABOVE 440 SL 437 TGT
445/447
|
|
CRUDEOIL (19OCT12)
|
4940
|
4792
|
4714
|
4566
|
4488
|
|
|
GOLD
(05OCT12)
|
31484
|
31232
|
31095
|
30843
|
30706
|
|
|
SILVER
(05DEC12)
|
63101
|
62709
|
62481
|
62089
|
61861
|
|
|
LEAD
(31OCT12)
|
120.9
|
120.3
|
119.8
|
119.2
|
118.7
|
|
|
NATURALGAS (26OCT12)
|
188.8
|
182.7
|
179.3
|
173.2
|
169.8
|
|
|
NICKEL
(31OCT12)
|
990.6
|
981.5
|
975.9
|
966.8
|
961.2
|
|
|
ZINC
(31OCT12)
|
110.2
|
109.1
|
108.5
|
107.5
|
106.9
|
|
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