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. Call us at +91-731-6642300
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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