Daily commodity report 22 nov 2013 by epic research

DAILY COMMODITY REPORT 22nd NOVEMBER. 2013

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DAILY COMMODITY REPORT

COMMODITY WRAPUP

22nd NOVEMBER. 2013

COPPER

GOLD

At MCX, copper Nov. traded higher by Rs 1.95, or 0.45%, to Rs 437.05 per kg in a business turnover of 930 lots. The metal for delivery in February next year gained Rs 2, or 0.45%, at Rs 448.80 per kg in a business volume of 129 lots. Besides increased demand from consuming industries, a firming trend overseas after Fed Chairman said that the benchmark interest rate will remain low long after policy makers reduce bond purchases, influenced copper prices at futures trade.

Gold hit a four-month low on Thursday, hurt by speculation the US Federal Reserve might be able to start scaling back its monetary stimulus soon. US gold futures for December delivery fell 1.5 per cent to $1,238.90 an ounce. Gold's drop to a four-month low this week attracted buyers in Asia but the re were doubts that the demand would last as consumers may be waiting for the market to go even lower. In India, despite muted demand, premiums jumped to $120 an ounce from $80 last week

CRUDE OIL

SILVER

MCX Crude oil futures recovered yesterday but the gains were primarily because of weak undertone in the INR as global prices were weighed down by Euro-zone growth worries. Oil prices also got eased in Asia after talks between Iran and world powers on its disputed nuclear program opened in Geneva, while signs of rising US demand failed to boost New York's main contract. Domestic inventories had risen 400,000 barrels last week lower than expectations.

Silver prices fell by 0.64% to Rs 46,220 per kg in futures trade yesterday as speculators trimmed their positions, taking weak cues from the global markets. At MCX silver March 2014 declined by Rs 297, or 0.64%, to Rs 46,220 per kg in business volume of 64 lots. On the similar lines, the white metal for delivery in Dec traded lower by Rs 282, or 0.63%, to Rs 44,717 per kg in business turnover of 775 lots. Silver traded 2.41% lower at $19.85 an ounce in New York in yesterday's trade.

SPECIAL NEWS

COMMODITY BUZZ

*The U.S. Bureau of Labor Statistics reported on Wednesday. Over the last 12 months, the all items index increased 1.0% before seasonal adjustment. The index for all items less food and energy rose 0.1% in October, steady over last month. On annual basis, the index for all items less food and energy has risen 1.7% over the last year, while the food index has risen 1.3%, The energy index has declined 4.8% over the last 12 months, its largest 12-month decline since July 2012. US data suggested stronger labor market conditions and subdued inflation pressures. US weekly jobless claims fell more than expected last week, while US producer prices fell for a second straight month in October.

â—Š Commodity indices have continued to perform badly moving into 4th quarter of 2013 and weakness in metals and agri-commodities complex is seeping into energy, It was the 3rd consecutive year of negative returns. In its annual rebalancing at beginning of next year, the index will reduce its allocation to US NG. WTI crude oil and cotton in favor of gold, corn and silver. Reweighting events may not have any appreciable impact on commodity pricing.

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â—Š CME lowered Comex 100 Gold futures (GC) margins to $7,975 per contract from $8,800 and cut Comex 5000 Silver futures (SI) margins to $11,000 per contract from $12,375. CME also cut maintenance margins for gold to $7,250 per contract from $8,000. All the margin changes will be effective after the close of business on Friday, Nov. 22.

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DAILY COMMODITY REPORT

COMMODITY LEVELS

22nd NOVEMBER. 2013

DAILY LEVELS WITH TREND % Chg.

OI (in lots)

TREND

30285

+0.51

6115

Sideways

44551

45127

+0.59

10311

Bearish

6063

5916

6053

+2.35

10752

Bullish

228.90

235.7

228.9

233.90

+2.63

8270

Bullish

29 NOV 2013

137.45

445

436.15

444.65

+1.88

11550

Bullish

NICKEL

29 NOV 2013

849.50

851.60

841.7

849.7

+0.54

9162

Bullish

LEAD

29 NOV 2013

130.10

131.2

129.3

130.95

+0.69

27.95

Bullish

ZINC

29 NOV 2013

117.05

118.10

116.65

118.1

+1.07

2298

Bullish

ALUMINIUM

29 NOV 2013

109.60

110.70

109.1

110.60

+1.15

1875

Bullish

ITEM

Contract

Open

High

Low

GOLD

05 DEC 2013

30030

30338

29917

SILVER

05 DEC 2013

44851

45336

CRUDE

18 DEC 2013

5928

NATURAL GAS

25 NOV 2013

COPPER

Close

SUPPORT & RESISTANCE COMMODITIES

CONTRACT

S2

S1

PIVOT

R1

R2

GOLD

05DEC2013

29759.00

30022.00

30180.00

30443.00

30601.00

SILVER

05DEC2013

44219.67

44673.33

45004.67

45458.33

45789.67

CRUDE

18 DEC 2013

5863.67

5958.33

6010.67

6105.33

6157.67

NATURAL GAS

25 NOV 2013

226.03

229.97

232.83

236.77

239.63

COPPER

29 NOV 2013

433.08

438.87

441.93

447.72

450.78

NICKEL

29 NOV 2013

837.77

843.73

847.67

853.63

857.57

LEAD

29 NOV 2013

128.58

129.77

130.48

131.67

132.38

ZINC

29 NOV 2013

116.17

117.13

117.62

118.58

119.07

ALLUMINIUM

29 NOV 2013

108.53

109.57

110.13

111.17

111.73

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DAILY COMMODITY REPORT 22nd NOVEMBER. 2013

RECOMMENDATION GOLD A swing trading was seen yesterday in Gold, positive jobless data hit the gold and took price down to 29917.

Although it recovered, but prices then stuck in a trend channel and yet to make convincing trades above 30500 region to generate intraday buying sentiments 30800.

BUY GOLD ABOVE 30500 TGTS 30600/30750 SL 30350 SELL GOLD BELOW 30150 TGTS 30050/29950 SL 30330

SILVER

The prices have broken 45000 level but failed to close below, As long as 45000 region holds downside prices likely to trade higher with an upside target of 46100/46500 at an immediate level. On the other side, fall below 45000 with volume could bid selling

sentiments

towards

44800/44500.

BUY SILVER ABOVE 45500 TGTS 45700/46000 SL 45150 SELL SILVER BELOW 44800 TGTS 44600/44300 SL 45150

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DAILY COMMODITY REPORT

COMMODITY SPECIAL

22nd NOVEMBER. 2013

LME INVENTORY (in tonnes) Change

METALS ALUMINIUM

3300

COPPER

-3575

LEAD

-775

NICKEL

912

TIN

-60

ZINC

-4575 MOST ACTIVE CONTRACTS BY (VOLUME)

Symbol

Expiry Date

SILVERMICRO

30-11-2013

45316.00

3,26,37,48,952.00

72,022

CRUDE OIL

18-12-2013

6054.00

40,98,31,584.00

67,696

NATURAL GAS

25-11-2013

233.80

1,01,37,334.20

43,359

COPPER

29-11-2013

444.35

1,76,37,140.20

39,692

SILVER M

30-11-2013

45308.00

1,73,46,62,088.00

38,286

COPPERMINI

29-11-2013

444.30

1,17,32,630.10

26,407

SILVER

05-12-2013

45264.00

1,00,21,90,224.00

22,141

GOLD M

05-12-2013

30952.00

66,96,46,520.00

21,635

GOLD

05-12-2013

30223.00

53,17,43,462.00

17,594

LEADMINI

29-11-2013

130.95

20,54,212.65

15,687

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LTP

Value (In Lacs) Volume (In Lots)

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DAILY COMMODITY REPORT 22nd NOVEMBER. 2013

TIME (ET)

ECONOMIC CALENDER

REPORT

PERIOD ACTUAL

CONSENSUSFORECAST

PREVIOUS

MONDAY, NOV. 18 10 am

Home builders' index

Nov.

56

55

0.5%

0.5%

TUESDAY, NOV. 19 8:30 am

Employment cost index

3Q WEDNESDAY, NOV. 20

8:30 am

Retail sales

Oct.

0.1%

-0.1%

8:30 am

Retail sales ex-autos

Oct.

0.2%

0.4%

8:30 am

Consumer price index

Oct.

0.0%

0.2%

8:30 am

Core CPI

Oct.

0.2%

0.1%

10 am

Business inventories

Sept.

0.3%

0.3%

10 am

Existing home sales

Oct.

5.23 mln

5.29 mln

2 pm

FOMC minutes THURSDAY, NOV. 21

8:30 am

Weekly jobless claims

11/16

N/A

N/A

8:30 am

Producer price index

Oct.

-0.2%

-0.1%

8:30 am

Core PPI

Oct.

0.1

0.1%

8:58 am

Markit flash PMI

Nov.

--

51.8

10 am

Philly Fed

Nov.

15.0

19.8

10 am

Leading indicators

Oct.

--

FRIDAY, NOV. 22 10 am

Job openings

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Sept.

3.9 mln Call us at +91-731-6642300

DAILY COMMODITY REPORT 22nd NOVEMBER. 2013

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