Commodities Market Summary
Gold futures fell
for the second straight session as the dollar’s advance curbed demand for the
metal as an alternative investment. The greenback rose as much as 0.5 percent
against a basket of major currencies amid speculation that Spain is struggling
to avoid a bailout from mounting sovereign debt. On Oct. 5, gold reached the
highest in almost 11 months after the U.S. unemployment rate fell to the lowest
since January 2009, easing pressure on the Federal Reserve to expand monetary
stimulus. Gold futures for December delivery fell 0.3 percent to settle at
$1,775.70 an ounce at 1:41 p.m. on the Comex in New York. On Oct. 5, the metal
reached $1,798.10, the highest for a most-active contract since Nov. 9. Oil
rose in New York for the first time in three days, rebounding from a decline
that sent the U.S. benchmark grade to the biggest discount versus European
futures in almost a year. West Texas Intermediate crude gained as much as 1.1
percent after sliding 2.6 percent in the prior two days and reaching technical-support
levels. The contract’s discount to London- traded Brent oil widened to $22.49
yesterday, the largest gap since Oct. 20, 2011. The U.S. Energy Department is
scheduled to release its weekly report on production and stockpiles tomorrow.
Levels for the Day
|
Name
|
RES2
|
RES1
|
S/R
|
SUP1
|
SUP2
|
RECOMMENDATION
|
|
ALUMINIUM (31OCT12)
|
109.45
|
109
|
108.35
|
107.9
|
107.25
|
|
|
COPPER
(30NOV12)
|
435.8
|
434.6
|
432.8
|
431.7
|
429.9
|
|
|
CRUDEOIL (19OCT12)
|
4775
|
4738
|
4681
|
4644
|
4587
|
|
|
GOLD
(05DEC12)
|
31539
|
31435
|
31258
|
31154
|
30977
|
|
|
SILVER
(05DEC12)
|
62096
|
61785
|
61414
|
61103
|
60732
|
|
|
LEAD
(31OCT12)
|
118.8
|
118.4
|
117.8
|
117.5
|
116.9
|
|
|
NATURALGAS (26OCT12)
|
183.6
|
181.5
|
178.3
|
176.2
|
173.0
|
|
|
NICKEL
(31OCT12)
|
962.2
|
956.2
|
949.3
|
943.3
|
936.4
|
Buy at 957/958 SL 950 TGT 972/976
|
|
ZINC
(31OCT12)
|
107.3
|
106.7
|
106.3
|
105.6
|
105.2
|
|
Important Events for the Day
9th Oct 2012 (Time – IST)
GBP
NIESR Gross Domestic Product Estimate (SEP) at 19:30
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