DAILY COMMODITY REPORT 26th NOVEMBER. 2013
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DAILY COMMODITY REPORT
COMMODITY WRAPUP
26th NOVEMBER. 2013
COPPER
GOLD
Copper is moving in a range as its nature made high of444,25 and low 444,10 and gave closing at 444,10.trend is bearish. Money managers decided to slash the long positions of Copper and simultaneously build short positions. COMEX Copper prices for December traded at $ 3.212 per pound, down 0.2 cents. MCX Copper traded at Rs 442.9 per kg, up 0.26%. The prices tested a high of Rs 443.75 per kg and a low of Rs 442.4 per kg.
Indian gold futures edged down on Monday tracking bearish international cues, positive Asian equities, and firm Dollar. Continuing outflows from exchange-traded funds and concerns that US central bank may start withdrawing its monetary stimulus soon were seen putting pressure on the yellow metal prices in the global futures markets. MCX gold for December delivery was seen trading with a loss of 0.43% at Rs.29712 per 10 grams as of 15.27 IST on Monday.
CRUDE OIL
SILVER
Oil declines sharply in the Asia electronic session Monday following a key deal between world powers and Iran, Iran on Sunday agreed to curb its nuclear program for the next six months in exchange for limited sanctions relief. In the morning trades crude oil saw a sharp selling with gap-down opening @ 5974 and broke support level of 5950 and full day in the range of 5900-5860 in evening having some buying pressure in crude but instead of an upside move crudeoil gave the closing at 5903.
MCX Silver futures slumped more than 1% yesterday, falling on weak global cues and consistent selling pressure. The global Silver futures eased to nearly four month lows as precious metals took a tumble on waning geopolitical uncertainty. The precious metals have been under check off late as worries about the reversal in US Fed's asset buying cause havoc in the markets. Silver demand is an increase because of its price correction. Silver's industrial demand is expected to rise 1% this year.
SPECIAL NEWS
COMMODITY BUZZ
* In the week ahead, investors will be closely watching a flurry of U.S. data to further gauge the strength of the economy and the need for stimulus from the Federal Reserve. The U.S. is to release a series of reports on the housing sector, as well as data on consumer confidence and durable goods orders in coming days.
◊ Australia's central bank dampened speculation that it's close to intervening in currency markets to help exporters struggling to compete internationally. Deputy governor of the Reserve Bank of Australia, said the central bank doesn't rule intervention in or out, but that the threshold for intervening was "fairly high."
* The Nuclear program was reached in marathon talks in Geneva that ended Sunday after protracted negotiations between Iran and the P5+1 nations comprising the United States, China, France, Britain, Russia and Germany. The deal also will suspend U.S. pressure for progressively deeper cuts by importers of Iranian crude oil, including countries such as China.
◊ A year-on-year decline in demand of Gold reflected further depletion of western investors' ETF positions. Investment demand slipped by a whooping 56% to 185.50 tonnes.
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◊ China copper market remains buoyant due to a combination of scrap shortage and stock building. Refined copper production is also expected to show strong growth. Call us at +91-731-6642300
DAILY COMMODITY REPORT
COMMODITY LEVELS
26th NOVEMBER. 2013
DAILY LEVELS WITH TREND % Chg.
TREND
ITEM
CMP
30181
+0.87
Bearish
COMEXGOLD
1,251.70
43925
44480
-0.19
Bearish
5974
5849
5903
-1.79
Bearish
GOLD SPOT
1,252.15
26 DEC 2013
237.4
234.8
237.30
-0.42
Bullish
COMEX SILVER
20.21
29 NOV 2013
444.25
441.1
444.1
-0.11
Bullish CRUDE OIL WTI
94.30
BRENT CRUDE
110.82
NYMEX NATURAL GAS
3.81
ITEM
Contract
High
Low Close
GOLD
05 DEC 2013
30237
29615
SILVER
05 DEC 2013
44670
CRUDE
18 DEC 2013
NATURAL GAS COPPER NICKEL
29 NOV 2013
845.30
835.9
841.8
-0.36
Bearish
LEAD
29 NOV 2013
130.55
129.2
129.35
-1.26
Bearish
ZINC
29 NOV 2013
117.95
116.85
117.25
-0.68
Bearish
ALUMINIUM
29 NOV 2013
110.00
107.85
108.10
-0.96
Bearish
SUPPORT & RESISTANCE COMMODITIES
CONTRACT
S2
S1
PIVOT
R1
R2
GOLD
05DEC2013
29389.00
29785.00
30011.00
30407.00
30633.00
SILVER
05DEC2013
43613.33
44046.67
44358.33
44791.67
45103.33
CRUDE
18 DEC 2013
5783.67
5843.33
5908.67
5968.33
6033.67
NATURAL GAS
26 DEC 2013
233.90
235.60
236.50
238.20
239.10
COPPER
29 NOV 2013
440.00
442.05
443.15
445.20
446.30
NICKEL
29 NOV 2013
831.60
836.70
841.00
846.10
850.40
LEAD
29 NOV 2013
128.35
128.85
129.70
130.20
131.05
ZINC
29 NOV 2013
116.25
116.75
117.35
117.85
118.45
ALLUMINIUM
29 NOV 2013
106.50
107.30
108.65
109.45
110.80
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DAILY COMMODITY REPORT 26th NOVEMBER. 2013
RECOMMENDATION GOLD
In mid range session trading seen consolidate yesterday in Gold took support of 29630 and bounce, in evening session fresh buying came after 6,30 and gold break the consolidate range and made new high of 30237 & closed at 30181.
BUY GOLD ABOVE 30500 TGTS 30600/30750 SL 30350 SELL GOLD BELOW 30150 TGTS 30050/29950 SL 30330
SILVER
At morning silver open at bearish way as following trend, in mid session have some sideways buy made new low continuously. and made day low 43925.in the evening session it breaks the resistance 44250and made new day high of 44670. closed at 44480.
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
26th NOVEMBER. 2013
LME INVENTORY (in tonnes) Change
METALS ALUMINIUM
-9000
COPPER
-1600
LEAD
-200
NICKEL
-126
TIN
-290
ZINC
-4550 MOST ACTIVE CONTRACTS BY (VOLUME)
Symbol
Expiry Date
SILVERMICRO
30-11-2013
44485.00
2,90,07,77,880.00
65,208
CRUDE OIL
18-12-2013
5885.00
37,33,32,630.00
63,438
SILVER M
30-11-2013
44486.00
1,45,76,72,762.00
32,767
NATURAL GAS
26-12-2013
239.70
75,01,171.80
31,294
COPPER
29-11-2013
443.55
1,09,61,451.15
24,713
GOLD M
05-12-2013
30820.00
63,61,24,800.00
20,640
SILVER
05-12-2013
44464.00
79,80,84,336.00
17,949
GOLD
05-12-2013
30109.00
50,41,14,987.00
16,743
COPPERMINI
29-11-2013
443.45
71,21,363.55
16,059
GOLD PETAL
30-11-2013
3102.00
3,57,81,570.00
11,535
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LTP
Value (In Lacs) Volume (In Lots)
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DAILY COMMODITY REPORT
ECONOMIC CALENDER
26th NOVEMBER. 2013
THIS WEEK'S U.S. ECONOMIC REPORTS TIME (ET)
REPORT
PERIOD
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 26th NOVEMBER. 2013
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