Commodity News For 31st Oct. 2011

Gold closed lower at $1709. Market was range  bound, with a very subdued trading as hurricane Sandy was the main concern for the market.

Silver also opened lower at $31.70, along with copper and cct. rude oil. For past 4 trading session, gold is trading sideways, but as the 7 RSI is at 38, there is still room for further down side. Next technical target should be $1693 (38.2retracement of the may to October uptrend) followed by $1662 (50% retracement). Upside resistance poised at $1720 and $1748. Silver also trading sideways for last 7 session. Immediate  support is at $31.50, the bottom of this sideways trend and resistance is at $32.50.

Crude Oil 
Technically MCX crude is range bound between 4600 to 4690. Weakness is still present as market made a double bottom at 4600. A close below that, could see 4530 and 4470 levels. Strong resistance poised at 4709 and 4770. Fundamentally, price could be well supported as the main focus of U.S oil market is on Hurricane Sandy and its post landfall effect. With the shitting down of the refineries, price may climb higher.

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Commodity News Updates for 30th Oct . 2012

BULLION:
Gold prices are expected to witness a range bound move from 31200 to 30950.
One can trade with a positive bias and buy on dips around 31000 – 30950 with
a stop loss below 30900.
Silver prices are  expected to  bounce till  60000  - 60100 one can  buy
around 59350-59250 with a stop loss below 58800. Prices are expected
to  trade within a broad range from 60100 to 58800. Fresh buying is
expected above 60100 on closing basis.

METALS
Copper prices are expected to trade within the range from 416 to 426, one
can trade with a positive bias as oscillators are at the oversold zone. One can
buy around 419 with a stop loss below 415.
Nickel prices are expected to trade within the range from 850 to 890. One
can trade within the range with a positive bias maintain a stop loss below
840. Prices  are trading near the strong support zone hence buying is
recommended.
Lead prices as expected to bounce 110 – 110.50, for intraday one can buy
around 108.30 with a stop loss below 107.

ENERGY
Crude price are expected to trade within the range from 4600 to 4700,
one can trade within the range with a side ways to positive bias.

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Weekly Commodity Report and Technical Tends from 22 -26 Oct. 2012

MCX GOLD Technical Trend
MCX GOLD last week showed upward trend it moves in a downward channel pattern and faced strong resistance of upper band of channel, now if it able to break resistance of 31520 than we expect bull trend in it towards the level of 31750. On other hand if it breaks psychological support of 31000 than it may find next support around 30750.

Strategy
Better strategy in MCX GOLD is to buy above 31520 for the target of 31750-32000 with stop loss of 31000.

MCX SILVER Technical Trend
MCX SILVER last week showed down trend and moves in channel pattern on daily chart. Now 59350 is seen as immediate support for it below this it may touch lower band of channel i.e. around 58500. On higher level 61050 is act as resistance for it only above this we expect some correction in it.

Strategy
Better strategy in MCX SILVER at this point of time is to sell below 59600 for the target of 58500-58000, with stop loss of 61100.

MCX CRUDEOIL Technical Trend
Crude  oil last week broke strong resistance of 5010 but not able to closed above this and form a reversal pattern on daily charts, now if it take reversal from here than it may find strong  support around 4800 below this it is weak towards level of 4600. Correction is expected only if it able to give closing above 5010.

Strategy
Better strategy in MCX CRUDEOIL is to sell on highs, for the targets of 4800 with stop loss of 5050.

MCX Copper Technical Trend
MCX Copper last week showed sideways movement consolidates around its strong support, and form head and sholder pattern if it breaks support of 431 than it will be in weak zone towards level of 420. On higher level if it give closing above 445 than some correction is expected in it.

Strategy
Better strategy in the MCX COPPER will be sell below 432, with the stop loss of 445 for the target of 420.

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Commodity News and Updates for 23 Oct. 2012

BULLION :
Gold prices are expected to trade within a range from 30950 to 31200. One can trade within the range with a negative bias.  Fresh  selling could trigger below 30950.
Silver prices are  expected to trade within the range from 59000 to 60200. One can sell on rise around 60000 with a stop loss above 60350.

BASE METTLE :
Copper  prices  are  expected  tested the  support at  428 on lower end, if sustains below 428 prices are expected to test 424 -423. one can sell on rise around 431 - 432 with a stop loss above 435 for intraday.
Nickel prices are expected to trade within the range from 875 to 900. One can trade within the range with a positive bias maintain a stop loss below 870.
Lead prices as expected to trade lower till 109 – 109.50, we expect prices to bounce from these levels till 112. One can trade within the range form 109 to 112 for the day.

ENERGY: 
Crude  price  are expected to  remain under pressure  till 4730  – 4720whereby it seems to hold. one can buy around that levels with a stop loss below 4670. Prices are expected to bounce till 4830.

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Commodity News today : 22 oct . 20122

Gold and Silver 
 Yesterday Gold closed almost unchanged at $1749. The metal continues to consolidate the nasty fall from $1795 to $1730over the past two week. From a price perspective, while the metal holds below $1758, the risk is to the downside. Our short term target after $1730 is $1693, which is the 38.2% retracement of the may to September up move ($1528 to $1795).
Silver was slightly higher yesterday and closed at $33.14.the metal is still weak following the impulsive downfall fro $35.10 to $32.57 in the last couple of week. We need a close above $33.59 to remove the negative bias. Our initial target $31.84.

Crude Oil 
Enthusiasm in WTI was perhaps somewhat dampened by the strong build in EIA crude oil inventories. The report stated:U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.9 million barrels from the previous week. At 369.2 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year.

 MCX crude oil is range bound in between 4800 and 4930. As crude is manage to holds above 4856, it looks good to me and there could be chance for a upside momentum. Price could test 5030, if there will be a close above 4940 levels.

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Weekly Commodity Report : for this Week

MCX GOLD Technical Trend
MCX GOLD last week showed downtrend it moves in a downward channel pattern and faced strong resistance of upper band of channel, now if it able to break this resistance than we expect bull trend in it towards the level of 31750. On other hand if it breaks psychological support of 31000 than it may find next support around 30750.

Strategy
Better strategy in the MCX GOLD is to buy above 31510 for the target of 31750-3200, with stop loss of 31100.

MCX SILVER Technical Trend
MCX SILVER last week showed down trend it took strong resistance of trend line from high of this contract now if it able to break 62350 on higher level than the breakout of trend line is expected. On other hand if it breaks 61000 than this down trend continuous and find next support around 59900 below this it is too weak towards level of 58500.

Strategy
Better strategy in MCX SILVER at this point of time is to sell below 61000 for the target of 59900-58500, with stop loss of 62350.

MCX CRUDEOIL Technical Trend
Crude  oil last week broke strong resistance of 4910 but not able to closed above this and from a reversal pattern on daily charts, now if it take reversal from here than it may find strong  support around 4800 below this it is weak towards level of 4600. Correction is expected only if it able to give closing above 4910.

Strategy
Better strategy in MCX CRUDEOIL is to sell on highs, for the targets of 4600 with stop loss of 4970.

MCX Copper Technical Trend
MCX Copper last week showed sideways movement consolidates around its strong support of 431 if it breaks this support than it will be in weak zone towards level of 420. From last two weeks it moves in range of 431-442. On daily charts it face resistance of trendline from its high, above 442 breakout is expected and some corection is seen in it.

Strategy
Better strategy in the MCX COPPER will be sell below 431, with the stop loss of 440 for the target of 420.

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Commodity News and Latest Update

 BULLION :
Gold prices are  expected to  bounce to the tune of 31450  if sustained above 31300,  one can buy around 31300 with a stop loss below 31220.  one could witness profit booking around 31450 -31500.
Silver prices are resisting 61000 -61100  zone. Prices  are expected to trade within the range from 61000 to 60000. Fresh buying recommended above 61000.

BASE METAL : 
Copper prices as expected tested the zone at 445 -446. For intraday one can sell around 443 – 443.50 with a stop loss above 447 for the target around 438 – 436.
Nickel prices are expected to trade within the range from 935 to 910. One can buy on dip around 915 -910 with a stop loss below 900.
Lead prices as expected tested 114.50 - 114 on lower end, one can buy on dips around 114 with a stop loss below 112.80 for the target at 116.30  -116.60.

 ENERGY : 
Crude price are expected to test the resistance zone at 4960 – 4980 if  prices sustain below that one can sell with a small stop loss above 4990. Prices are expected to test 4910 -4900.

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Commodity News with Market Rate and Target for 18th Oct 2012

BULLION:  Gold closed slightly higher, partially recovering from sharp losses early in the week, Gold holdings  of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,333.89 tons, as on Oct. 15.
Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 9,861.44 tons, as on Oct, 16.
                                              High            Low         Close    %Chg    
 Gold(Dec) /10 gm -             31,163        31,041       31,140      0.3    
Silver(Dec) /kg-                    60,640        60,060       60,574      0.9  
Gold Mini /10 gm  -              30,998        30,882        30,975     0.3    
Silver Mini /kg -                    60,650        60,071        60,593     0.9    

BASE METALS : Copper futures & other metals closed higher, on a stronger euro and surprisingly good housing data in the US.

Alum Oct -                           104.7          102.6           104.4      1.2  
Copper Nov-                       439.6           433.1           439.2      1.1
Lead Oct -                           114.5          111.5          114.0        1.7
Nicke Oct -                          908.0          889.1          906.9       1.5
Zinc Oct -                             100.9           98.9          100.5        0.9

ENERGY :
Crude oil futures traded steadily above $92 per barrel level, as sentiments were weighed by better demand prospects from a weaker dollar and jump in US housing starts, against a biggerthan-expected rise in crude supplies. Crude stocks at Cushing, Oklahoma fell by 140,000 barrels to 44.03mn barrels, as per EIA.
Natural gas futures recovered from early losses, on speculation that government data may show a smaller than-normal increase in stockpiles for last week. Natural gas stocks are expected to increase by 47-50bn cubic feet, actual data will be released by EIA later in the day.

Cr. oil (Oct) /bbl -               4,912           4,845            4,868      0.2
Nat.gas (Oct) /mmbtu -         185.3           180.3            183.4    0.9


Trade Recommendations
Commodity                Strategy        Levels       Target 1        Target 2       Stop-Loss      Trend
Gold (Dec)                     Buy        31070-31090    31170            31250             31040       Corrective
Silver (Dec)                    Buy        Above 60640    60850             61050            60490       Corrective
Copper (Nov)                Buy        Around 440            443                 446                438        Sideways
Aluminum (Oct)             Buy         Around 104.5         105.5             106.5              103.8     Sideways
Lead (Oct)                    Buy         114.1-114.3           115.3              116.5             113.5     Sideways
Nickel (Oct)                  Buy             905-908              920                 935                897          Down
Zinc (Oct)                     Buy         100.3-100.5           101.5                -                     99.7      Sideways
Crude oil (Oct)             Buy         Around 4850          4880              4910               4835          Down
Natural gas (Oct)          Sell             Below 184           181                178                  186.4          Up

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Commodity Tips for 17 Oct. 2012

Commodity Levels  
                                               R2         R1      PIVOT       S1           S2
Bullion MCX :                  
Gold                                    31,238   31,218   31,040    31,020    30,842
Silver                                   60,488   60,301   60,031    59,844    59,574

Base Metal MCX: 
Aluminum                                 105        104        103         102         101
Copper                                     437       436        434         433         431
Lead                                         113       113        112         112         111
Nickel                                       917       897       894         873         870
Zinc                                          101       100       100           98           98

Energy MCX:
Crude oil                                 4,906     4,881     4,859     4,834     4,812
Nat. Gas                                    188        183        182        177        176

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Daily Commodity news : 16 oct 12

Gold futures fell more than 1%, as data from two of the world’s biggest economies helped spur an overall rally in global stock markets while a stronger US dollar added further pressure on the precious metal.

Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 9,885.54 tons, as on Oct, 15.

Copper futures fell to a one-month low, on concern that policy makers in China, the biggest consumer of the metal, may refrain from additional economic stimulus after exports grew more than expected in September.The world refined zinc market is expected to be in surplus of 153,000 tons in the year 2012 and a more significant excess of 293,000 tons anticipated in 2013, as per ILZSG.

Crude oil futures bounced back from a dip below $90 per barrel to closed on a flat note, as traders mulled over economic data from the US.

Natural gas futures dropped for the first time in 6-sessions, on forecasts of warmer-than-normal weather in US that would reduce consumption of the heating fuel.

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Commodity News For 15 oct 12

Gold prices moved lower amid better flow of macroeconomic numbers in US. Better than expected consumer sentiment dented the safe have appeal to an extent. In spite of the recent weakness in the precious metals complex, we infer that gold prices should find support around US$1,740/ounce levels. On the domestic front, Rs31,000/10gms act as a good support level.  

Base metals ended lower, devoid of any impetus.  Market participants are waiting for further direction from the slew of Chinese macroeconomic numbers scheduled to be released this week, including industrial

production and Q3 GDP data. In the meantime, better than expected Chinese trade data should provide some kind of support to the non‐ferrous complex. China's exports grew at roughly twice the rate expected in September while imports also expanded.

Crude oil futures ended lower, as lower global demand estimates from EIA and weak economic growth forecasts across various geographies have managed to offset the looming geopolitical tensions emanating from the Middle East.

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Commodity Weekly News, 8th - 12th Oct.

MCX GOLD Technical Trend
MCX GOLD DEC last week showed downtrend it moves in a downward channel pattern, took support around the psychological level of 31000 we expect if it break this level than it may find next support around lower band of channel i.e. 30650. Breakout of channel pattern is expected above 31350 after that next resistance is seen around 31650.

Strategy

Better strategy in the MCX GOLD is to sell below 31000 for the target of 30650-30450, with stop loss of 31500.

MCX SILVER Technical Trend

MCX Silver last week showed down trend it took strong resistance of trend line from high of this contract now if it able to break 62600 on higher level than the breakout of trend line is expected. On other hand if this down trend continuous than it will find next support around 60500 below this it is too weak towards level of 59000.

Strategy

Better strategy in MCX SILVER at this point of time is to buy above 62600 for the target of 63800-64700, with stop loss of 61000.

MCX CRUDE OIL Technical Trend

Crude  oil last week showed downtrend on weekly charts it broke trendline and gave closing below this. Now we expect this down trend is continuous if it able to break crucial support of 4570 below this it may find support around 4450. Some correction is expected only if it able to give closing above 4765.

Strategy

Better strategy in MCX CRUDEOIL is to sell on highs, for the targets of 4570 with stop loss of 4825.

MCX Copper Technical Trend

MCX Copper last week showed downward trend on weekly chart it moves in an upward channel pattern and found strong support around 430 if it able to break this support than this week it may touch lower band of channel i.e. around 420. On daily charts it found strong resistance of 442 only above this correction is expected.

Strategy

Better strategy in the MCX COPPER will be sell below 432, with the stop loss of 442 for the target of 420.

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Commodity, Precious Metals and Crude Technical Out look for 12 oct 12

Bullion:
Gold prices are expected to trade within a range from 31250 to 31500. One can buy on dip around 31370 with a stop loss below 31250.
Silver prices are  resisting at 62400 which  is the downward sloping trendline. Prices  can test 61400  – 61200  on lower end.  Fresh  buying recommended above 62400.

Base Metal: 
Copper  prices  are likely to trade  sideways from 434 to 440. One  can trade within the range with a positive bias
Nickel  prices  are expected to  test 920  one can look to buy the counter around 920 with a stop loss below 905
Lead prices are expected to test 114 on lower end which seems to hold. For intraday one can buy with a stop loss below 113.

Energy:
Crude price are expected to trade lower to the tune of 4830 -4800, one can sell on rise around 4890 -4900 with a small stop loss above 4920.

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Commodity Current Market News for 11th oct 12

Current Market

MCX Gold - current mkt price- 31464.0
Today it opens at 31457.0
Goes as High as 31511.0 and Low as 31432.0

INTERNATIONAL GOLD - current mkt price - 1765.90 
Today it opens at 1767.30
Goes as High as 31511.0 and Low as 1760.20

MCX SILVER - current mkt price -62143.0
Today it opens at 62161.0
Goes as High as 62328.0 and Low as 62101.0

INTERNATIONAL CRUDE - current mkt price -113.58
Today it opens at 113.56
Goes as High as 113.76 and Low as 113.26

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Best Commodity Intraday Tips For Today 10 oct. 2012

Gold Prices are expected to trade positive and are likely to witness 31450 31500, one can buy on dips around 31280. Oscillators suggest prices are expected to trade higher.

Silver Prices are expected to trade higher for the day one can maintain a stop loss below 61000 and enter long.

You can sell mcx novem Copper between 445/450 sl 466 tgt 420/415

Can Buy mcx Aluminum between 106/107 sl 99 tgt 117/120

Also Buy mcx nickel 915/925 sl 875 tgt 980/990

Buy mcx lead 109/110 sl 101 tgt 122/125

Buy mcx Zinc 104/105 sl 98 tgt 115/118

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Commodity News For Today 9th oct 12

MCX Gold December Contract is looking slightly negative for the day. Market may find support near 31200 & 31090; intraday resistance can be seen near 31330 & 31420. Day traders are advised to sell intraday on rise. (Sell around 31330 with SL 31420, for the target of 31200 & 31090.)

MCX Silver December Contract is looking slightly negative for the day. Market may find support near 61200 & 60700; intraday resistance can be seen near 61700 & 62200. Day traders are advised to sell intraday on rise (Sell around 61700 with SL 62200, for the target of 61200 & 60700.)

MCX Natural Gas October contract is looking slightly positive for the day. Market may find support near 178 & 175 intraday resistance can be seen near 182 & 185 Day traders are advised to buy intraday on dips. (Buy around 178 with SL 175 for the target of 182 & 185.)

MCX Crude Oil October contract is looking slightly negative for the day. Market may find support near 4670 & 4620; intraday resistance can be seen near 4730 & 4790. Day traders are advised to sell intraday on rise. (Sell around 4730 with SL 4790, for the target of 4670 & 4620.)

MCX Copper November contract is looking slightly negative for the day. Market may find support near 431 & 428; intraday resistance can be seen near 434 & 437. Day traders are advised to sell intraday on rise. (Sell around 434 with SL 437, for the target of 431 & 428.)

MCX Nickel October contract is looking slightly negative for the day. Market may find support near 942, 932; intraday resistance can be seen near 955 & 964. Day traders are advised to sell intraday on rise. (Sell around 955 with SL 964, for the target of 942 & 932.)

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Commodity Trading Market News

Indian Gold futures are likely to extend losses for a fifth week, breaking their lowest level in more than a month, weighed by a stronger dollar.The most-active gold for December delivery on the Multi Commodity Exchange (MCX) was 0.34 percent higher at Rs 31,272 per 10 grams, after hitting a low of Rs 31,081 earlier in the day, nearing a level last seen on August 31.

Selling is advised on rallies in gold at Rs 31,350, with a stop loss at Rs 31,500, targeting Rs 31,000, said Gnanasekar Thiagarajan, director with Commtrendz Research in Mumbai, adding the firm dollar could weigh on prices. A revival in imports ahead of festivals could keep the downside in prices limited, analysts said. The festival and wedding season will start picking up in late October and peak next month during Diwali and Dhanteras, traditionally occasions for buying gold.

Silver extended losses for another session to its lowest in more than a month following copper, another industrial metal.Silver for December delivery on the MCX was 0.77 percent lower at Rs 61,324 per kg, after hitting a low of Rs 61,043 earlier in the session, a level last seen on September 5.Selling is also advised on rallies in silver at Rs 61,900, with a target of Rs 60,500.

Falling Crude Oil prices are also likely to weigh on prices of the yellow metal, which is also considered as a hedge against inflation.

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Today's Update for Commodity.

Gold continued downfall on Monday extending its losses from the previous session, positive job dat weakened the sentiment for additional stimulus measure.

Gold importers in India, the world's biggest buyer of bullion, continued to place deals in view of upcoming festivals as prices stayed in the vicinity of their lowest levels in five weeks. for  December delivery on the Multi Commodity Exchange (MCX) was 0.04 percent  higher at INR31,067/10gms. After hitting the low of INR31,128/10gms.

 crude prices remained well near $89 on Monday, global concerns and Europe’s debt crisis is putting pressure on global oil prices with reducing demand for oil globally.

U.S. natural gas futures ended lower in the front-month November contract pressured by Thursday's bearish weekly inventory report and by forecasts for mild mid-month weather that should slow demand.

copper fell more than 1 percent on Monday, giving up last week's gains as the dollar firmed after a surprise drop in the U.S. jobless rate, while  traders eyed data from top consumer China later this week for clues on demand.Benchmark copper on the London Metal Exchange (LME) ended at $8,295 a ton, not far from a close of $8,305 on Thursday.

todays Update:

MCX GOLD

31121.0	Change -46.0	Open 31136.0	High 31169.0	Low 31102.0

INTERNATIONAL GOLD

1,773.20	Change -7.60	Open 1,782.00	High 1,782.50	Low 1,768.20

MCX SILVER

61306.0	Change -494.0	Open 61725.0	High 61725.0	Low 61270.0

INTERNATIONAL CRUDE

111.38	Change -0.64	Open 111.63	High 111.70	Low 111.38

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Commodity Trading Tips for 6th September.

MCX Silver December Contract is looking slightly positive for the day. Market may find support near 61800 & 61300; intraday resistance can be seen near 62500 & 62900.

MCX Copper November contract is looking positive for the day. Market may find support near 432 & 429; intraday resistance can be seen near 437 & 440.

MCX Crude oil October contract is looking slightly positive for the day. Market may find support near 4710 & 4660; intraday resistance can be seen near 4750 & 4800.

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Commodity Updates

Gold today jumped on signs of more demand in India, the biggest buyer for the coming festival and marriage season and a weakening dollar. The precious metal climbed 0.5 per cent to USD 1,786.22 an ounce and silver by 1.1 per cent to USD 34.96 an ounce on expectations the demand from India might pick up for approaching festivals like 'Navratras' and marriage season.

 Copper edged higher on Thursday, helped by a stronger euro on expectations Spain would seek a bailout to rescue its economy, although gains were capped by uncertainty about global growth while trading volumes were low as China remained on holiday. Benchmark copper on the London Metal Exchange (LME)shook off losses from the previous session to rise to $8,318 a tonne at 0917 GMT, up 0.3 percent from Wednesday's close of $8,290.

 Brent crude oil rose towards $109 per barrel on Thursday as expectations Spain would seek a bailout and better US data encouraged investors back into riskier assets such as oil and commodities. US light crude oil for November rose 50 cents to $88.64 a barrel, after dropping to its lowest since Aug. 3 in the previous session.
On Wednesday, Brent dropped 3 percent and US crude lost 4 percent as fears a delayed recovery in China and recession in the euro zone would limit energy demand.

MCX GOLD

31242.0	Change 155.0	Open 31089.0	High 31250.0	Low 31089.0

INTERNATIONAL GOLD

1,794.60	Change -1.90	Open 1,792.60	High 1,798.10	Low 1,792.20

MCX SILVER

62378.0	Change 273.0	Open 62250.0	High 62431.0	Low 62250.0	Times 10/05 11:40

INTERNATIONAL CRUDE

112.11	Change -0.47	Open 112.45	High 112.45	Low 111.82

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Commodity Market News for 4th october 2012

Gold rose on Wednesday, with prices just shy of recent 11 month highs, as investors awaited a US employment report for signs of recovery in the world's biggest economy. 

Spot gold was 0.3 percent higher at $1,778.50 an ounce by 1022 G MT. Trade was thin as China, the world's largest commodity consumer, remained on a week-long holiday. 

 Silver prices moved down by 0.53 per cent to Rs 62,600 per kg in futures trade today after speculators trimmed positions amid negative cues from the global markets. At the Multi Commodity Exchange, silver for delivery in December moved down by Rs 334, or 0.53 per cent, to Rs 62,600 per kg, with a business turnover of 2,419 lots. 

 Crude oil prices fell on Wednesday, as weak data from Europe and China dimmed the outlook for demand, while Europe's festering debt crisis added to the gloom. 

Nickel prices moved down by Rs 6.30, or 0.64 per cent, to Rs 979.90 per kg in futures market today as speculators reduced their positions, taking weak cues from the global markets on economic concerns. Multi Commodity Exchange, nickel for delivery in October declined by Rs 6.30, or 0.64 per cent, to Rs 979.90 per kg, with a business turnover of 5,257 lots. 

MCX GOLD

30940.0	Change -39.0	Open 30962.0	High 30969.0	Low 30862.0

INTERNATIONAL GOLD

1,783.70	Change +3.90	Open 1,780.00	High 1,785.30	Low 1,779.90

MCX SILVER

62387.0	Change 69.0	Open 62344.0	High 62472.0	Low 62289.0

INTERNATIONAL CRUDE

108.50	Change +0.33	Open 108.20	High 108.83	Low 108.02

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Commodity Trading Tips for 4th october 2012

Tracking a weak global trend, Gold prices fell by Rs 72 at Rs 31,343 per 10 grams in the futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange, gold for delivery in December fell by Rs 72, or 0.23%, to Rs 31,343 per 10 grams, with a business turnover of 1,499 lots.
October gold lost Rs 32, or 0.10%, to Rs 31,001 per 10 grams, with a business turnover of 125 lots.
Marketmen said speculators offloaded positions amid a weak global trend as retail sales data from Europe may add to signs of economic weakness.
Meanwhile, gold dropped 0.2% to $1,771.35 an ounce in Singapore.


Silver prices moved down by 0.53% to Rs 62,600 per kg in futures trade today after speculators trimmed positions amid negative cues from the global markets.
At the Multi Commodity Exchange, silver for delivery in December moved down by Rs 334, or 0.53%, to Rs 62,600 per kg, with a business turnover of 2,419 lots.
 March silver declined by Rs 329, or 0.51%, to Rs 64,308 per kg in 90 lots.
Marketmen said speculators offloaded positions in line with a weak global trend ahead of data that may add to signs of economic weakness in Europe.
Silver traded a shade lower at $34.29 an ounce in Singapore.

Crude palm oil prices tumbled 4% to hit lower circuit at Rs 407.20 per 10 kg in futures trade today after participants offloaded their positions amid a weak trend overseas.
Subdued demand at the spot markets put pressure on the prices.
 The crude palm oil for delivery in October fell sharply by Rs 17, or 4.01%, to hit lower circuit at Rs 407.20 per 10 kg at the Multi Commodity Exchange, with a business turnover of 93 lots.
The November contract fell by a similar margin to hit a lower circuit at Rs 409.10 per 10 kg, with a business volume of 291 lots.
Trading sentiment remained bearish largely in line with a weak trend overseas.

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Commodity News for 3rd October 2012.

Bullion: Gold futures on domestic exchanges fell to a one-month low as the strong rupee against the dollar and weak COMEX futures weighed on prices. On COMEX, the precious metal fell on profit booking, after touching a six-month high last week. The metal recovered some of its early losses as the dollar weakened against the euro. 

Energy: Crude oil futures were trading lower on the MCX tracking fall in benchmark contracts on the New York Mercantile Exchange and appreciation in rupee against the dollar. NYMEX crude oil futures traded weak on Eurozone debt concerns, which raised worry regarding oil demand from the region. 

Metals: Base metals were trading lower on the MCX tracking parent contracts on the London Metal Exchange, where prices eased due to concerns over demand from China and firm rupee against  the dollar. Sentiment in the global market remained weak today following release of discouraging manufacturing data from China. 

Commodity News

THOMSON REUTERS/JEFFERIES CRB INDEX(TR/J CRB)

309.30	Change +0.00	Open 0.00	High 0.00	Low 0.00

THOMSON REUTERS EQUAL WEIGHT CONTINUOUS COMMODITY INDEX (CCI)

587.50	Change +2.07	Open 587.09	High 587.75	Low 585.42

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