Thursday 30 August 2012

Daily Report for 31st Aug 2012


Commodities Market Summary


 
Gold declined for a third day as investors weighed whether the Federal Reserve will signal a new round of measures to boost the economy tomorrow and as Spain said it will delay a decision on seeking aid. Silver futures for December delivery declined 1.5 percent to $30.446 an ounce in New York, the biggest fall for a most- active contract since Aug. 2. Oil dropped to a two-week low as producers worked to restore Gulf of Mexico output after Hurricane Isaac passed. Prices fell 0.9 percent as Isaac’s threat to offshore production eased as the system weakened to a tropical storm over Louisiana. Oil also declined after 374,000 Americans filed applications for unemployment benefits last week, more than forecast. Crude extended losses as drops in equities accelerated and the dollar rebounded against the euro. Oil for October delivery dropped 87 cents to settle at $94.62 a barrel on the New York Mercantile Exchange. Futures have declined 4.3 percent this year. Prices are 7.4 percent higher in August, heading for the biggest monthly gain since February.
Levels for the Day
Name
RES2
RES1
       S/R
      SUP1
      SUP2
RECOMMENDATION
ALUMINIUM (28SEP12)
106
105.35
104.80
104.15
103.60

COPPER
(30NOV12)
433.8
430.5
428.2
424.9
422.6
Sell at 427.50/428 SL 431.50 tgt 423/421
CRUDEOIL (19SEP12)
5384
5347
5319
5282
5254

GOLD
(05OCT12)
31311
31265
31202
31156
31093

SILVER
(05SEP12)
59924
59448
59074
58598
58224

LEAD
(28SEP12)
110
109.2
108.7
108.1
107.5

NATURALGAS (25SEP12)
168.8
166.4
162.5
160.1
156.3

NICKEL
(28SEP12)
926.8
913.9
907.1
894.2
887.4

ZINC
(28SEP12)
104.3
103.4
102.7
101.8
101.1




 
     Important Events for the Day
31st AUG 2012 (Time – IST)
CAD Gross Domestic Product (YoY) (JUN) at 18:00
USD Fed's Bernanke Speaks at Jackson Hole Economic Policy Symposium at 19:30

Wednesday 29 August 2012

Daily Report for 30 Aug 2012


Commodities Market Summary



 

Gold held near the highest in more than four months on Wednesday as investors await U.S. Federal Reserve Chairman Ben Bernanke's speech later this week for any hints of further stimulus measures. The Fed, which has kept rates near zero since December 2008, has promised to keep them there until at least late 2014 to nurture a weak recovery, but previous rounds of asset Gold today declined as investors weighed whether Federal Reserve Chairman Ben S Bernanke will hint at fresh stimulus measures in a speech later this week. The precious metal fell 0.22 per cent to $ 1,663 an ounce. Prices reached $ 1,676.90 on August 27, the highest since April 13. Silver fell 0.2 per cent to $ 30.82 an ounce. Bullion reached a four-month high on August 27 as investors speculated that the US central bank will embark on a third round of quantitative easing. Bernanke will deliver a speech about monetary policy at the central bank's symposium at Jackson Hole, Wyoming, on August 31. Holdings in gold-backed  exchange- traded products are at a record. Oil dropped for a second day in New York as stockpiles unexpectedly rose and Hurricane Isaac weakened after making landfall, reducing the threat to offshore platforms and rigs in the Gulf of Mexico. Futures slipped as much as 0.6 percent after falling 0.9 percent yesterday. Crude inventories increased 3.8 million barrels last week, data from the Energy Department showed.Oil for October delivery slid as much as 58 cents to $94.91 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.02 at 12:12 p.m. Singapore time. The contract yesterday dropped 84 cents to $95.49, the lowest close since Aug. 27. Prices are 7.9 percent higher this month, headed for a second monthly gain, and 3.9 percent lower this year.weakened the dollar, boosted global stock markets and burnished gold's safe-haven appeal. Gold was steady at $1,667.40 per ounce by 0249 GMT, within sight of a 4-1/2 month high of $1,676.45 hit on Monday. A report showing U.S. consumer confidence deteriorated in August to the lowest in nine months boosted gold. Natural-gas prices fell for a fifth day as Hurricane Isaac made landfall, potentially curbing demand and bringing colder weather. Gas fell as much as 0.7 percent after Hurricane Isaac came ashore in southeastern Louisiana at 6:45 p.m. local time yesterday. The storm may decrease industrial consumption for natural gas by 1.5 billion cubic feet a day, Goldman Sachs Group Inc. (GS) said in a report e-mailed today. Oil fell from the highest closing price in a week in New York after Hurricane Isaac made landfall and a report showed inventories rose the most since May in the U.S., the world’s biggest crude consumer. Futures slipped as much as 0.6 percent after Isaac struck the coast of southeastern Louisiana. Refinery shutdowns because of the storm have curbed crude demand, according to Goldman Sachs Group Inc. Stockpiles gained 5.5 million barrels last week, data from the American Petroleum Institute showed yesterday.



 
     Important Events for the Day
30th AUG 2012 (Time – IST)
EUR German Unemployment Change (AUG) at 13:25
USD Personal Consumption Expenditure Core (YoY) (JUL) at 18:00
             Levels for the Day
Name
RES2
RES1
       S/R
      SUP1
      SUP2
RECOMMENDATION
ALUMINIUM (31AUG12)
105.5
104.8
104.4
103.8
103.4

COPPER
(31AUG12)
425.95
424.3
422.75
421.1
419.55

CRUDEOIL (19SEP12)
5397
5356
5324
5283
5251

GOLD
(04SEP12)
31136
30991
30863
30718
30590

SILVER
(05SEP12)
58228
57893
57527
57192
56826

LEAD
(31AUG12)
110.35
109.8
109.35
108.8
108.35

NATURALGAS (25SEP12)
153.7
152.0
149.4
147.7
145.1

NICKEL
(31AUG12)
917
910.6
903.9
897.5
890.8
Sell at 902/904 SL 909 TGT 886/881
ZINC
(31AUG12)
103.1
102.6
102.3
101.8
101.5




Tuesday 28 August 2012

Daily Report for 29th Aug 2012


      Commodities Market Summary
Gold held near the highest in more than four months on Wednesday as investors await U.S. Federal Reserve Chairman Ben Bernanke's speech later this week for any hints of further stimulus measures. The Fed, which has kept rates near zero since December 2008, has promised to keep them there until at least late 2014 to nurture a weak recovery, but previous rounds of asset purchases weakened the dollar, boosted global stock markets and burnished gold's safe-haven appeal. Gold was steady at $1,667.40 per ounce by 0249 GMT, within sight of a 4-1/2 month high of $1,676.45 hit on Monday. A report showing U.S. consumer confidence deteriorated in August to the lowest in nine months boosted gold. Natural-gas prices fell for a fifth day as Hurricane Isaac made landfall, potentially curbing demand and bringing colder weather. Gas fell as much as 0.7 percent after Hurricane Isaac came ashore in southeastern Louisiana at 6:45 p.m. local time yesterday. The storm may decrease industrial consumption for natural gas by 1.5 billion cubic feet a day, Goldman Sachs Group Inc. (GS) said in a report e-mailed today. Oil fell from the highest closing price in a week in New York after Hurricane Isaac made landfall and a report showed inventories rose the most since May in the U.S., the world’s biggest crude consumer. Futures slipped as much as 0.6 percent after Isaac struck the coast of southeastern Louisiana. Refinery shutdowns because of the storm have curbed crude demand, according to Goldman Sachs Group Inc. Stockpiles gained 5.5 million barrels last week, data from the American Petroleum Institute showed yesterday.
             Levels for the Day
Name
RES2
RES1
       S/R
      SUP1
      SUP2
RECOMMENDATION
ALUMINIUM (31AUG12)
105.9
105.4
104.8
104.4
103.8

COPPER
(31AUG12)
427.9
426.5
424.9
423.4
421.8

CRUDEOIL (19SEP12)
5420
5391
5346
5317
5272
Buy at 5345/5350 SL 5320 TGT 5400/5410
GOLD
(04SEP12)
31139
31043
30950
30854
30761

SILVER
(05SEP12)
58494
58052
57701
57259
56908

LEAD
(31AUG12)
110.5
110.0
109.1
108.6
107.7

NATURALGAS (28AUG12)
151.0
148.7
147.1
144.8
143.2

NICKEL
(31AUG12)
919.7
911.8
906
898.1
892.3

ZINC
(31AUG12)
103.8
103.4
102.8
102.4
101.8




 
     Important Events for the Day
29th AUG 2012 (Time – IST)
EUR German Consumer Price Index (YoY) (AUG P) at17:30
USD Gross Domestic Product Price Index (2Q S) at 18:00
USD Fed Releases Beige Book Economic Survey at 23:30