DAILY COMMODITY REPORT 25th NOVEMBER. 2013
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DAILY COMMODITY REPORT
COMMODITY WRAPUP
25th NOVEMBER. 2013
COPPER
GOLD
Base metals softened up to 8.3 per cent in the past month, due to weak manufacturing data from China, coupled with renewed concerns on tapering of the third round of quantitative easing (QE3) by the United States Federal Reserve. The global market for refined copper swung into a 21,000-tonne surplus in August, rising after three straight months of a shortfall, mostly due to higher production.
Gold prices eased in a quiet trade at the domestic bullion market on Friday due to decreased demand from stockists as well as weak buying sentiment amid stimulus scale down speculation. MCX Gold December contract was closed at Rs 29848 down Rs 426 or 1.41%, it touched an intraday high of Rs 30320 and an intraday low of Rs 29812. Around 17384 contracts had been traded. Pure gold (99.9 purity) also fell by a similar margin to end at Rs 30,960 per 10 grams from Rs 30,980.
CRUDE OIL
SILVER
Oil prices eased in Asia on Friday 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. WTI crude Jan. falling 21 cents to $93.64, while the European benchmark Brent oil for January dropped 28 cents to $107.78. The prices of Crude Oil on NYMEX platform ended the week at $ 94.84 per barrel, up 0.37%.
ON Friday MCX Silver Dec. contract was closed at Rs 44547 down Rs 590 or 1.31%. The Silver touched an intraday high of Rs 45240 and an intraday low of Rs44455. 16445 contracts had been traded. On the global front, the shiny metal remained under intense selling pressure and plunged to a four-month low after the US Fed Chairman Ben Bernanke hinted at stimulus pull-back in the coming months and better than expected jobless claims data.
SPECIAL NEWS
COMMODITY BUZZ
* Chinese PMI numbers showed a decline, HSBC's preliminary manufacturing data for November came out with a score of 50.4, compared with a final October reading of 50.9. The lower reading cast a shadow over hopes for much improved consumption from China.
◊ EIA reported a rise of 375000 barrels in the Crude Oil inventories, against the expectations of 900000 barrels. The average Crude Oil production in October was 7.7 million barrels per day. Meanwhile OPEC is expected to increase the sailings of Crude oil by 1.7% to the west on the back of rising heating oil demand. ◊ Average and marginal gold cash costs have gone down in the third quarter of 2013 as a result of industry-wide moves to cut costs. Gold producers have cut certain operations in order to reduce their administrative/other costs. ◊ HSBC on Friday lowered its previous platinum price forecasts for 2013 and 2014, saying the metal has been increasingly affected by the plunge in the gold prices.
* Germany Conference Board leading index moved up 0.2 percent sequentially to 107.5 in September, after rising 0.4 percent and 0.6 percent respectively in August and July. Meanwhile, the coincident economic index, a measure of the current situation, dropped 0.1 percent month-onmonth to 107.7 in September. This followed a 0.2 percent gain in August.
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DAILY COMMODITY REPORT
COMMODITY LEVELS
25th NOVEMBER. 2013
DAILY LEVELS WITH TREND Close
% Chg.
OI (in lots)
TREND
29812
29848
-1.36
5360
Bearish
45240
44455
44547
-1.11
10341
Bearish
6044
6058
5955
5992
-1.07
10194
Bearish
25 NOV 2013
234.50
237.4
231.8
235.90
+0.85
7651
Bullish
COPPER
29 NOV 2013
444.20
446.35
442.6
444.05
-0.06
11092
Bullish
NICKEL
29 NOV 2013
850.10
852.00
842.9
844.7
-0.49
9552
Sideways
LEAD
29 NOV 2013
131.35
132.25
130.65
130.95
+0.08
2882
Sideways
ZINC
29 NOV 2013
117.90
118.75
117.5
117.95
+0.04
2536
Bullish
ALUMINIUM
29 NOV 2013
110.30
110.60
109.15
109.20
-1.04
2074
Bullish
ITEM
Contract
Open
High
GOLD
05 DEC 2013
30262
30320
SILVER
05 DEC 2013
45167
CRUDE
18 DEC 2013
NATURAL GAS
Low
SUPPORT & RESISTANCE COMMODITIES
CONTRACT
S2
S1
PIVOT
R1
R2
GOLD
05DEC2013
29485.33
29666.67
29993.33
30174.67
30501.33
SILVER
05DEC2013
43962.33
44254.67
44747.33
45039.67
45532.33
CRUDE
18 DEC 2013
5898.67
5945.33
6001.67
6048.33
6104.67
NATURAL GAS
25 NOV 2013
229.43
232.67
235.03
238.27
240.63
COPPER
29 NOV 2013
440.58
442.32
444.33
446.07
448.08
NICKEL
29 NOV 2013
837.43
841.07
846.53
850.17
855.63
LEAD
29 NOV 2013
129.68
130.32
131.28
131.92
132.88
ZINC
29 NOV 2013
116.82
117.38
118.07
118.63
119.32
ALLUMINIUM
29 NOV 2013
108.20
108.70
109.65
110.15
111.10
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DAILY COMMODITY REPORT 25th NOVEMBER. 2013
RECOMMENDATION GOLD GOLD MCX has strong support @29600 and stiff Resistance is Seen @30500.
Traders can take a Long
Position around 29600 with Small stop loss. If Gold sustains below 29600, it can head towards lower levels. GOLD MCX has not shown weakness as compared to GOLD COMEX, hence it may face a correction in coming days.
SELL GOLD MCX BELOW 29700 TGTS 29600/29500 SL 29800 SELL GOLD AROUND 29980 TGTS 29900/29780 SL 30100
SILVER SILVER MCX has immediate strong support @44400 and is trading near support levels in both Indian and international
markets.
SILVER
MCX can head upwards in coming days. Hence fresh short position traders should wait, and take a risk to stay long till SILVER MCX closes below 44400.
BUY SILVER ABOVE 45100 TGTS 45300/45500 SL 44800 SELL SILVER BELOW 44200 TGTS 44000/43700 SL 44500
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DAILY COMMODITY REPORT
COMMODITY SPECIAL
25th NOVEMBER. 2013
LME INVENTORY (in tonnes) Change
METALS ALUMINIUM
67100
COPPER
3025
LEAD
-300
NICKEL
588
TIN
-5
ZINC
-4575 MOST ACTIVE CONTRACTS BY (VOLUME)
Symbol
Expiry Date
LTP
CRUDE OIL
18-12-2013
5991.00
40,26,19,164.00
67,204
SILVERMICRO
30-11-2013
44655.00
2,30,03,57,670.00
51,514
NATURAL GAS
25-11-2013
236.20
76,04,222.80
32,194
COPPER
29-11-2013
444.35
1,22,80,500.95
27,637
SILVER M
30-11-2013
44668.00
1,15,08,71,020.00
25,765
COPPERMINI
29-11-2013
444.30
89,95,742.10
20,247
GOLD M
05-12-2013
30638.00
57,13,98,700.00
18,650
GOLD
05-12-2013
29863.00
49,10,07,446.00
16,442
LEADMINI
29-11-2013
131.15
19,49,938.20
14,868
SILVER
05-12-2013
44638.00
64,89,47,244.00
14,538
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Value (In Lacs) Volume (In Lots)
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DAILY COMMODITY REPORT 25th NOVEMBER. 2013
TIME (ET)
ECONOMIC CALENDER
PERIOD
REPORT
ACTUAL
CONSENSUS FORECAST
PREVIOUS
--
-5.6%
MONDAY, NOV. 25 10 AM
PENDING HOME SALES
OCT. TUESDAY, NOV. 26
8:30 AM
HOUSING STARTS
OCT.
925,000
891,000
8:30 AM
BUILDING PERMITS
OCT.
930,000
926,000
9 AM
CASE-SHILLER HOME PRICE INDEX
SEPT.
--
12.8% YOY
9 AM
FHFA HOME PRICE INDEX
SEPT.
--
8.5% yoy
10 AM
CONSUMER CONFIDENCE
NOV.
72.0
71.2
WEDNESDAY, NOV. 27 8:30 AM
WEEKLY JOBLESS CLAIMS
11/23
N/A
N/A
8:30 AM
DURABLE GOODS ORDERS
OCT.
-1.8%
3.8%
9:45 AM
CHICAGO PMI
NOV.
63.0
65.9
10 AM
UMICH CONSUMER SENTIMENT INDEX
NOV.
73.0
72.0
10 AM
LEADING ECONOMIC INDICATORS
OCT.
--
0.7%
THURSDAY, NOV. 28 THANKSGIVING DAY NONE SCHEDULED FRIDAY, NOV. 29 NONE SCHEDULED
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DAILY COMMODITY REPORT 25th NOVEMBER. 2013
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