Sunday 30 September 2012

Daily Report for 1st October 2012



      Commodities Market Summary
Gold is set to advance, extending gains for a sixth week and headed for its best quarter since 2010 on speculation that governments will increase stimulus to spur global economic growth. Spot gold was little changed at $1,779.10 an ounce at 9:58 a.m. in Singapore. Prices were poised to rise 0.3 percent this week for the best winning run since August 2011. The metal is up 11 percent this quarter, the biggest such gain since June 30, 2010. The advance this year is 14 percent.  Oil climbed for a second day in New York and headed for the biggest quarterly gain this year before a report forecast to show personal spending rose in the U.S., signaling an economic recovery that may boost fuel demand. Futures advanced as much as 0.6 percent after increasing 2.1 percent yesterday, the most in eight weeks. U.S. household purchases probably climbed 0.5 percent last month, up from 0.4 percent in July, according to a Bloomberg survey before Commerce Department data today. Oil has rebounded since closing below $90 a barrel for the first time in almost two months on Sept. 26, and surged yesterday as Spain pledged to cut its deficit to ease Europe’s debt crisis. Copper bulls retreated for a third consecutive week on mounting concern that weaker manufacturing from Europe to China will curb demand even as central banks pledge more stimulus to boost economies. Copper reached a four-month high Sept. 19 after the Federal Reserve and European Central Bank said they would buy more debt and China, the biggest copper user, approved a $158 billion subways-to-roads construction plan. Data since then signaled contracting factory output in Europe and China and a weaker U.S. economy. International Monetary Fund Managing Director Christine Lagarde said Sept. 24 that global growth may be “a bit weaker” than the Washington-based group forecast in July.
Levels for the Day
Name
RES2
RES1
       S/R
      SUP1
      SUP2
RECOMMENDATION
ALUMINIUM (31OCT12)
111.2
111.1
110.9
110.8
110.6

COPPER
(30NOV12)
442.4
441.7
441.1
440.4
439.7
Sell at 437/438 SL 441 tgt 432/430
CRUDEOIL (19OCT12)
4898
4893
4887
4882
4876

GOLD
(05OCT12)
31319
31260
31208
31149
31097

SILVER
(05DEC12)
62871
62825
62774
62728
62677

LEAD
(31OCT12)
120.2
120.1
119.9
119.8
119.6

NATURALGAS (26OCT12)
177.0
176.5
176.1
175.6
175.2

NICKEL
(31OCT12)
981.6
980.1
977.6
976.1
973.6
Sell at 970 SL 976 TGT 960/958
ZINC
(31OCT12)
110.7
110.6
110.4
110.3
110.1


Important Events for the Day
1st Oct 2012 (Time – IST)


USD ISM Manufacturing (SEP) at 19:30

Thursday 27 September 2012

Daily Report for 28th Sep 2012



Commodities Market Summary
Gold is set to advance, extending gains for a sixth week and headed for its best quarter since 2010 on speculation that governments will increase stimulus to spur global economic growth. Spot gold was little changed at $1,779.10 an ounce at 9:58 a.m. in Singapore. Prices were poised to rise 0.3 percent this week for the best winning run since August 2011. The metal is up 11 percent this quarter, the biggest such gain since June 30, 2010. The advance this year is 14 percent.  Oil climbed for a second day in New York and headed for the biggest quarterly gain this year before a report forecast to show personal spending rose in the U.S., signaling an economic recovery that may boost fuel demand. Futures advanced as much as 0.6 percent after increasing 2.1 percent yesterday, the most in eight weeks. U.S. household purchases probably climbed 0.5 percent last month, up from 0.4 percent in July, according to a Bloomberg survey before Commerce Department data today. Oil has rebounded since closing below $90 a barrel for the first time in almost two months on Sept. 26, and surged yesterday as Spain pledged to cut its deficit to ease Europe’s debt crisis. Copper bulls retreated for a third consecutive week on mounting concern that weaker manufacturing from Europe to China will curb demand even as central banks pledge more stimulus to boost economies. Copper reached a four-month high Sept. 19 after the Federal Reserve and European Central Bank said they would buy more debt and China, the biggest copper user, approved a $158 billion subways-to-roads construction plan. Data since then signaled contracting factory output in Europe and China and a weaker U.S. economy. International Monetary Fund Managing Director Christine Lagarde said Sept. 24 that global growth may be “a bit weaker” than the Washington-based group forecast in July.
Levels for the Day
Name
RES2
RES1
       S/R
      SUP1
      SUP2
RECOMMENDATION
ALUMINIUM (28SEP12)
111.1
110.5
109.9
109.4
108.8

COPPER
(30NOV12)
444.95
442.5
439.65
437.2
434.35
Sell at 440/441 SL 445 tgt 434/433
CRUDEOIL (19OCT12)
4955
4921
4870
4836
4785

GOLD
(05OCT12)
31616
31482
31287
31153
30958

SILVER
(05DEC12)
63952
63503
62877
62428
61802

LEAD
(28SEP12)
121.8
121.1
120.4
119.7
119.0

NATURALGAS (26OCT12)
179.4
177.2
174.2
172.0
169.0

NICKEL
(28SEP12)
982.4
976.6
966.8
961.0
951.2
Buy at 977/978 SL 970 TGT 987/992
ZINC
(28SEP12)
110.55
109.9
109.25
108.6
107.95


Important Events for the Day
28th Sep 2012 (Time – IST)

CAD Gross Domestic Product (YoY) (JUL) at 18:00
USD Personal Consumption Expenditure Core (YoY) (AUG) at 18:00