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Daily Commodity Market Update as on Tuesday, April 12, 2011
PRECIOUS METALS COMPLEX
NAME OPEN HIGH LOW CLOSE % CNG
GOLD 21390 21429 21337 21373 -0.18
SILVER 60650 61466 59765 60000 -0.8
GOLD 1462.3 1463.9 1453.75 1454.8 -0.51
SILVER 40.17 40.4 39.87 39.97 -0.42
PLATINUM 1784.49 1773.5 1767.75 1773.24 -0.73
Bullion was under heavy pressure after Goldman claimed
there was a strong chance that commodities prices might
reverse and recommended clients take profits on what
has been a hugely profitable trade.SPOT $
MCX
NAME OPEN HIGH LOW CLOSE % CNG
CRUDE 5021 5021 4864 4898 -2.69
N.GAS 178.3 185 178 183.2 2.89
Crude oil fell in a selloff triggered by a Goldman Sachs
note to clients that they take profits after an extended
rally. Natural gas ended higher backed by cooler weather
forecasts and technical buying after a six-day slide
MCX
ENERGY COMPLEX
CRUDE 113.28 113.46 108.88 109.92 -2.966102
NAME OPEN HIGH LOW CLOSE % CNG
-
despite still-high supplies.
BASEMETAL COMPLEX
'
MCX
. . . - .
ZINC 113.25 113.25 111.3 111.8 -1.43
NICKEL 1232.9 1241.7 1215.3 1232.4 -0.09
LEAD 129.9 130.85 128.05 128.25 -2.81
ALUMINIUM 119.7 120 118.15 118.4 -1.35
COPPER 9805 9842.75 9766 9778.75 -0.5 1525
ZINC 2520 2525 2505 2510 -0.71 -300
COPPER
ZINC
445700
735675
Base meta en e wea yester ay a ecte y Japan s
fresh aftershock, the mild growth of the US dollar, and
lackluster trading data from China.
LME STOCKLM E
.
NICKEL 27700 2680 27365 27450 -0.85 -234
LEAD 2855 2855 2822 2822 -0.63 -975
ALUMINIUM 2680 2855 2669.25 2669.25 -0.48 -4250
SENSEX NIFTY NASDAQ S&P NYSE DOW JON NIKKEI SHICOM KOREA HKFE $ INDEX
19262.54 5785.7 2314.5 1324.41 8445.77 12381.11 9516.72 3033.76 2095.71 23957.66 75.19
GLOBAL MARKETS UPDATE
4577525
NICKEL
LEAD
ALUMINIUM
120990
276575
0 -0.96 -0.29 -0.28 -0.45 0.01 -2.05 0.36 -1.26 -1.42 0.16
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8/6/2019 Share Tips Expert Commodity Report 12042011
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OPEN
21390
HIGH
FUTUR
E
% CNG
VOLUME
CLOSE
21373
-0.18
21429
LOW
21337
X
GOLD
INTRADAY LEVELS
25058
OI
RE CNG
-39
10519
P.P. 21380
SUP 1 RES 1
21330 21422
SUP 2 RES 2
21288 21472
SUP 3 RES 3
21238 21514
Gold yesterday ended down in tandem with falling crude oil prices, as safe-haven bids faded. The
war premium in the metals seems to have diminished as news that a possible ceasefire in Libya and
the willingness to negotiate a settlement is weighing on the market. Holdings of the world's largest
gold-backed exchange traded fund, SPDR Gold Trust, climbed 6 tons to about 1,217 tons as of
Friday. Now support for the gold MCX is seen at 21330 and below could see a test of 21288.
Resistance is now likely to be seen at 21422, a move above could see prices testing 21472.
MC
LOW
UR
E
59765
OPEN
60650
HIGH
61466
VERFU
RE CNG
60000
% CNG
OI
15318
120716
-0.8
VOLUME
P.P. 60410
SUP 1 RES 1
59355 61056
SUP 2 RES 2MCXS
I
Silver hit new highs on Monday before falling in tandem with crude oil, as safe-haven bids faded
after a peace plan surfaced to end Libya's two-month-old civil war. After hitting a record high 61466
earlier in the morning, silver was pressured on an African Union's Libya peace initiative and as
investors heeded a recommendation from long-term commodities bull Goldman Sachs. Bullion was
also under heavy pressure after Goldman claimed there was a strong chance that commodities
-483
INTRADAY LEVELS
58709 62111
SUP 3 RES 3
57654 62757
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pr ces m g reverse an recommen e c en s a e pro s on w a as een a uge y pro a e
trade. The spreads between gold and silver have nearly halved since last August. Now silver is
getting support at 59355 and below could see a test of 58709 level, And resistance is now likely to
be seen at 61056, a move above could see prices testing 62111.
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OPEN
5021
HIGH
FUTURE 5021
LOW
4864CLOSE
4898
% CNG
-2.69
VOLUME
CRUDE
142970
OI
16720
RE CNG
-132
INTRADAY LEVELS
Crude oil fell in a selloff tri ered b a Goldman Sachs note to clients that the take rofits after an P.P. 4928
SUP 1 RES 1
4834 4991
SUP 2 RES 2
4771 5085
SUP 3 RES 3
4677 5148
MC
extended rally. Worries that high oil prices could reduce demand and stunt the economic recovery
also spurred caution and sparked some liquidations. Saudi Arabia will keep supplies steady in May to
long-term customers in Asia and Europe but is not trying to force extra barrels on to buyers to drive
prices down. China's crude oil imports in March rose by a modest 3 percent from a year ago at about
5.1 million barrels per day, data showed. Now support for the crude is seen at 4834 and below could
see a test of 4771. Resistance is now likely to be seen at 4991, a move above could see prices
testing 5085.
TUR
EOPEN
442
HIGH
443.5LOW
437.65
PPERFU 438.45
% CNG
-1.07
VOLUME
100225
OI
18869
RE CNG
P.P. 439.9
SUP 1 RES 1
436.2 442.1
SUP 2 RES 2MCXC
O
Copper ended weak as the struggling dollar strengthened and a strong aftershock in Japan unnerved
some investors. The day began with Chinese trade data for the month of March, showing the metal-
consuming giant's appetite for copper recovered strongly from February's weaker tone. China is the
world's largest consumer of copper, accounting for about 40 percent of global demand estimated at
around 21 million tonnes this year. Copper has touched a low of Rs 437.65 a kg after opening at Rs
-4.7
INTRADAY LEVELS
434.0 445.7
SUP 3 RES 3
430.4 447.9
442, and last traded at Rs438.45.For today market is looking for the support at 436.2, a break below
could see a test of 434 and where as resistance is now likely to be seen at 442.1, a move above
could see prices testing 445.7.
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8/6/2019 Share Tips Expert Commodity Report 12042011
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OPEN
113.25
HIGH
UTUR
E113.25
LOW
111.3CLOSE
111.8
% CNG
-1.43
VOLUME
X
ZINC
21640
OI
6504
RE CNG
-1.6
INTRADAY LEVELSZinc yesterday traded with the negative node and settled -1.43% down at 111.8 after US
- P.P. 112.1
SUP 1 RES 1
111.0 112.9
SUP 2 RES 2
110.2 114.1
SUP 3 RES 3
109.0 114.9
MC
o ar n ex move e ween . - yes er ay, an z nc pr ces mos y uc ua ebetween USD 2,525-2,550/mt during Asian trading hours. LME zinc prices once touched a
high of USD 2,555/mt, but faced strong resistance. A strong aftershock hit Japan last night,
causing LME zinc prices to lose previous gains. Zinc shortages also predicted for around the
middle of the decade due to mine closures are likely to be less acute than feared as miners
rush to bring new projects on-stream to benefit from soaring prices for co-product silver. For
today's session market is looking to take support at 111, a break below could see a test of
110.2 and where as resistance is now likely to be seen at 112.9, a move above could see
UR
EOPEN
1232.9
HIGH
1241.7LOW
1215.3
KELFU 1232.4
% CNG
-0.09
VOLUME
45094
OI
7584
RE CNG
P.P. 1230
SUP 1 RES 1
1218 1244
SUP 2 RES 2MCXN
I
-1.1
INTRADAY LEVELSNickel yesterday traded with the negative node and settled -0.09% down at 1232.4 tracking LME
nickel for delivery in three months which was opened at USD 27,550/mt and closed at USD
27,684/mt overnight, up by USD 159/mt from a day earlier, with the highest price at USD
27,950/mt and the lowest price at USD 27,370/mt. Affected by Japan's fresh aftershock, the mild
growth of the US dollar, lackluster trading data from China. LME nickel prices slumped during the
'
1203 1256
SUP 3 RES 3
1192 1271
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ear y uropean ra ng ours rom apan s res a ers oc , u s a ze a e a o e ra ng
and closed with slight gains later. For today's session market is looking to take support at 1217.9, a
break below could see a test of 1203.4 and where as resistance is now likely to be seen at 1244.3, a
move above could see prices testing 1256.2.
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8/6/2019 Share Tips Expert Commodity Report 12042011
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ROPEN
119.7
HIGH
UMFU
T120
LOW
118.15CLOSE
118.4
VOLUME
% CNG
-1.35
LUMINI
-1.6
INTRADAY LEVELS
2277
RE CNG
Aluminium yesterday traded with the negative node and settled -1.35% down at 118.4 as US dollar
-
OI
4034
P.P. 118.9
SUP 1 RES 1
117.7 119.6
SUP 2 RES 2
117.0 120.7
SUP 3 RES 3
115.9 121.4MCX
n ex uc ua e narrow y aroun on on ay, w e ow-en r s ng s g y u pressures a amoving averages strong. Finally, the US dollar index closed at 75.062, up 0.196 or 0.26% compared
with the previous trading day. LME aluminum prices continued to increase after climbing to USD
2,720/mt in the morning session. In the afternoon session, a strong earthquake rattled Japan on
Monday and sparked a fresh tsunami alert, triggering investors panic sentiment. As a result, LME
aluminum prices fell below USD 2,700/mt. Later, embattled Libyan leader Moammar Gadhafi has
agreed in principal to a deal that would end the conflict in the nation, allowing crude oil prices to fall
below USD 110/bbl, which in turn dampened upward momentum in LME aluminum prices. For
today's session market is looking to take support at 117.7, a break below could see a test of 117
185
178TURE
OPEN
178.3
HIGH
LOW
% CNG
183.2
.GAS
F2.89
14600
RE CNG
OI
VOLUME
36899
P.P. 182.1
SUP 1 RES 1
179.1 186.1
SUP 2 RES 2
CXNA
5.3
INTRADAY LEVELS
Natural Gas yesterday we have seen that market has moved 2.89% backed by cooler weather
forecasts and technical buying after a six-day slide despite still-high supplies. However, the price
drop sparked some bargain buying from traders reluctant to bet that prices would fall further as
forecasts showed colder-than-normal weather next week. Industry weather group MDA Federal said
temperatures in the Midwest and Northeast were expected to be below normal from April 16 to April
175.1 189.1
SUP 3 RES 3
172.1 193.1
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20.Mar et as opene at 178.3 & ma e a ow o 178 versus t e ay ig o 185. T e tota vo ume
for the day was at 36899 lots and the open interest was at 14600.Now support for the Natural Gas is
seen at 179.1 and below could see a test of 175.1. Resistance is now likely to be seen at 186.1, a
move above could see prices testing 189.1.
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ACTIVE SPREAD UPDATE
DAILY SPREAD IN GOLD - MCX DAILY SPREAD IN SILVER - MCX
MONTH RATE JUNE AUG OCT MONTH RATE MAY JULY SEPT
JUNE 21373 298 616 MAY 60000 924 1873
AUG 21671 318 JULY 60924 949OCT 21989 SEPT 61873
Spread between Silver MAY & JUL contracts yesterday
ended at 924, we have seen yesterday that the silver
market had traded with a negative node and settled -
0.8% down. Spread yesterday traded in the range of 924
1768.
Spread between Gold JUN & AUG contracts yesterday
ended at 298, we have seen yesterday that the gold
market had traded with a negative node and settled -
0.18% down. Spread yesterday traded in the range of 275
- 303.
MONTH RATE APRIL MAY JUNE MONTH RATE APRIL JUNE
APRIL 4898 61 115 APRIL 438.45 6.2
MAY 4959 54 JUNE 444.65
JUNE 5013
DAILY SPREAD IN CRUDE - MCX DAILY SPREAD IN COPPER - MCX
Sprea etween copper APR & JUN contracts yester ay
ended at 6.2, we have seen yesterday that the copper
market had traded with a negative node and settled -
1.07% down. Spread yesterday traded in the range of 6.2
- 6.5.
DAILY SPR EAD IN NICKEL - MCXARKET
DAILY SPREAD IN ZINC - MCX
Sprea etween cru e MAR & APR contracts yester ay
ended at 61, we have seen yesterday that the crude
market had traded with a negative node and settled -
2.69% down. Spread yesterday traded in the range of 29
61.
MONTH MONTH
APRIL 111.8 1.2 APRIL 1232.4 7.7
MAY 113 MAY 1240.1
Spread between zinc APR & MAY contracts yesterday
ended at 1.2, we have seen yesterday that the zincmarket had traded with a negative node and settled -
1.43% down. Spread yesterday traded in the range of -
0.8 - 1.2.
Spread between nickel APR & MAY contracts yesterday
ended at 7.70, we have seen yesterday that the nickelmarket had traded with a negative node and settled -
0.09% down. Spread yesterday traded in the range of
6.80 - 7.7.PREAD
MONTH RATE APRIL MAY MONTH RATE APRIL MAY
APRIL 183.2 5.1 APRIL 1048 -56.6
MAY 188.3 MAY 991.4
DAILY SPREAD IN NAT. GAS - MCX DAILY SPREAD IN MENTHOL - MCX
S read between natural as APR & MAY contracts S read between menthol oil APR & MAY contracts
yesterday ended at 5.10, we have seen yesterday that the
natural gas market had traded with a positive node and
settled 2.89% up. Spread yesterday traded in the range of4.9 - 5.1.
yesterday ended at -56.60, we have seen yesterday that
the menthol oil market had traded with a positive node
and settled 0.09% up. Spread yesterday traded in therange of -59.1 to -53.3.
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DAY TIME CURRENCY Fo re cast P re viou s
11:30am EUR 0.005 0.005L
German Final CPI m/ m
DATA
2:30pm EUR 11.7 14.1
2:30pm EUR 29.8 31
3:45pm USD 0 0
6:00pm USD -44.1B -46.3B
6:00pm USD 0.021 0.014
7:30pm USD 45.7 43
11:30pm USD -157.5B -222.5B
0 0 0 0ONOMI
C
DATA
ZEW Economic Sentiment
FOMC Member Dudley SpeaksTrade Balance
Import Prices m/ m
German ZEW Economic Sentiment
Tue IBD/ TIPP Economic Optimism
Federal Budget Balance
0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
EC 0
0
0
0
OPEC can do little to control prices driven by speculators betting on "worst case scenarios" and has already supplied
the market with the oil it needs, members of the producer group said. "There is little we can do in terms of price
E
control," UAE Oil Minister Mohammed bin Dhaen al-Hamli told an oil conference in Paris. Already, he said, the
Organization of the Petroleum Exporting Countries had increased output in response to the disruption of supply from
OPEC member Libya. The group, which pumps around a third of the world's oil, has resisted calls for an emergency
meeting before its next scheduled conference in June in Vienna. "International markets are choosing to ignore market
fundamentals and bet on the worse case scenarios," Hamli said, adding the market was well-supplied. Iraq's Deputy
Prime Minister for Energy Affairs Hussain al-Shahristani, a former oil minister, agreed OPEC had done all it could to
calm the current rally. OPEC Secretary General Abdullah al-Badri had also been expected to attend the Paris oil
conference, but sent a letter of apology saying current events had detained him at the OPEC secretariat in Vienna.
"Ongoing events in the Middle East and North Africa are such that I judge it inappropriate for me to absent myself
' "
CA
N
Urom e organ sa on s ea quar ers n enna a s me, e sa .
Cane crushing in the second-largest sugar producing state, Uttar Pradesh is almost over with the total production of
sugar being seen at 5.88 million tonne, which would be less than the earlier estimate of 6 million tonne. More than
100 sugar mills in the state have shut down operation. Only two dozen odd mills are still operating - that too at low
ca acit levels. Barrin two mills in western Uttar Pradesh all are ex ected to close b the end of next week. Su ar
WSYO
. , .
industry players say that the mills, which are still running, are hardly getting enough cane and the season is expected
to close with a production of about 5.88 million tonne sweetener in the 2010-11 sugar season. The figure may vary
slightly but the state would miss the target of producing 6 million tonne as was initially estimated. Though cane
acreage in UP has increased 17% compared to last year and farmers readily sold cane enthused by the high SAP, the
state has been unable to achieve the production target. This is mainly due to floods at the beginning of the crushing
season, which destroyed crops in certain places, and the low yield reported in parts of western UP.
N
India's industrial output grew at a slower-than-expected pace in February, dragged down by continued contraction in
capital goods, but a hawkish Reserve Bank of India (RBI) is still expected to tighten monetary policy as it battles
stubbornly high inflation. Production at factories, mines and utilities grew 3.6 percent on year in February, lower than
an upwardly revised 3.9 percent growth a month ago. The manufacturing sector, which contributes about 80 percent
to overall output, grew an annual 3.5 percent in February. Capital goods output fell 18.4 percent during the month
compared with an almost 47 percent growth in the same period last year.
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company nor its employees are responsible for the trading Profit(es) & loss(es) arising due to the trader. The commodities and
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