share tips expert commodity report 08042011
TRANSCRIPT
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8/6/2019 Share Tips Expert Commodity Report 08042011
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Daily Commodity Market Update as on Friday, April 08, 2011
PRECIOUS METALS COMPLEX
NAME OPEN HIGH LOW CLOSE % CNG
GOLD 21141 21262 21126 21177 0.05
SILVER 57699 58083 57568 57934 0.39
GOLD 1458.7 1466.05 1455.75 1465.05 0.44
SILVER 39.58 39.98 39.51 39.89 0.73
PLATINUM 1780 1786.74 1771 1785.5 0.32
Bullion rose on inflation worries and expectations that the
European Central Bank's first rate hike since 2008 would
weaken the dollar but a strong earthquake that shook
Japan pressured prices.SPOT $
MCX
NAME OPEN HIGH LOW CLOSE % CNG
CRUDE 4801 4890 4798 4880 1.76
N.GAS 184.4 185.1 179.3 180.5 -2.11
ENERGY COMPLEX
Crude oil prices jumped amid uncertainties about supply
in Libya, the Middle East and Nigeria. Natural gas ended
down dropping to the lowest level in three-weeks after
the U.S. Energy Information Administration said natural
MCX
CRUDE 108.67 110.44 108.23 110.3 1.499954
NAME OPEN HIGH LOW CLOSE % CNG
gas inventories fell less-than-expected last week.
BASEMETAL COMPLEX
Base metal ended up as investors once again ignored an
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MCX
. . . .
ZINC 107.5 109.55 107.3 108.6 0.87
NICKEL 1176.9 1214 1174.5 1198.6 2.01
LEAD 125.65 126.65 124.55 125.65 -0.04
ALUMINIUM 117.6 118.7 117.3 117.95 0.04
COPPER 9706.5 9795 9670.25 9794 0.97 1500
ZINC 2455 2470 2443 2467.5 0.12 -150
in- ine interest rate i e an continue to et on t e
global economic recovery. Markets barely flinched after
the European Central Bank raised rates for the first time
since July 2008 by 25 basis points to 1.25 percent.
LME STOCKLM E
COPPER
ZINC
442375
734825. .
NICKEL 27000 2685 26998 27279 1.03 -1164
LEAD 2793 2830 2790 2830 0.57 -275
ALUMINIUM 2673 2830 2673 2684 0.15 -4525
SENSEX NIFTY NASDAQ S&P NYSE DOW JON NIKKEI SHICOM KOREA HKFE $ INDEX
19693.4 5913.1 2332.88 1333.44 8489.33 12409.49 9704.62 3017.29 2132.68 24420.99 75.24
NICKEL
LEAD
ALUMINIUM
121752
278125
4584475
GLOBAL MARKETS UPDATE
0.52 0.47 0.02 -0.16 -0.22 -0.14 1.13 0.31 0.5 0.57 -0.46
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OPEN
21141
HIGH
LOW
21126
0.05
21262
% CNG
VOLUME
CLOSE
21177
FUTUR
E
11
10886
RE CNG
27510
OI
INTRADAY LEVELS
X
GOLD
Gold hardly moved yesterday traded in the range and closed at 21177 that is up by +0.05% after
P.P. 21188
SUP 1 RES 1
21115 21251
SUP 2 RES 2
21052 21324
SUP 3 RES 3
20979 21387
MC
,problem and global inflation. However, an interest-rate hike in euro zone and a higher dollar curbed
rise. Market expected gold market got support from deepened concerns over debt problem in
Europe, as Portugal is set to seek a bailout from EU after the nation's political crisis pushed
borrowing costs to record levels and forced it to become third country in the euro region in need of
rescue. The precious market was also propped up by news that an earthquake hit Japan's
devastated northeast coast on Thursday. Now gold is getting support at 21115 and below could see
a test of 21052 level, And resistance is now likely to be seen at 21251, a move above could see
prices testing 21324.
57699
HIGH
58083
57568
OPEN
LOW
UR
E
OI
17241
71700
0.39
VOLUME
RE CNG
57934
% CNG
VERFU
P.P. 57862
SUP 1 RES 1
57640 58155
SUP 2 RES 2
INTRADAY LEVELSSilver spot at $39.80, 20 off from $40. At 31 year high; highest level since when the Hunt Brothers
tried to corner the market in 1980, bullion got support from deepened concerns over debt problem
in the Europe, as Portugal is set to seek a bailout from the European Union after the nation's political
crisis pushed borrowing costs to record levels and forced it to become the third country in the euro
region in need of a rescue. The strength in dollar also weighed on the market. Silver could rise to a
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226
MCXS
I
57347 58377
SUP 3 RES 3
57125 58670
Page No. 2
new g a er o ngs rose o an a - me g as n a on worr es ngere . ares ver rus
said its holdings hit another record at 11,192.80 tonnes by April 7 from 11,162.45 tonnes on April 4.
Now silver is getting support at 57640 and below could see a test of 57347 level, and resistance is
now likely to be seen at 58155, a move above could see prices testing 58377.
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8/6/2019 Share Tips Expert Commodity Report 08042011
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4801
HIGH
OPEN
4880
% CNG
1.76
VOLUME
4890
LOW
4798CLOSE
FUTURE
18291
RE CNG
86
INTRADAY LEVELSCrude oil yesterday broken the tight range and shoot up by 1.76% and finally settled at 4880 and
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142960
OI
CRUDE
P.P. 4856
SUP 1 RES 1
4822 4914
SUP 2 RES 2
4764 4948
SUP 3 RES 3
4730 5006
- -from tensions in Libya and the Middle East. Oil prices were also supported by OPEC member
Nigeria's decision to postpone parliamentary polls in some areas. Rebels fighting to overthrow
Muammar Gaddafi said five of their fighters were killed when NATO planes mistakenly bombed a
rebel tank column near the contested port of Brega in eastern Libya. Libya accused Britain of
damaging an oil pipeline in an air strike, hours after rebels said government attacks had halted
production of oil they hope to sell to finance their uprising. Now crude is getting support at 4822 and
below could see a test of 4764 level, And resistance is now likely to be seen at 4914, a move above
could see prices testing 4948.
MC
HIGH
434.2LOW
426.15TUR
EOPEN
427.15
RE CNG
% CNG
1.03
VOLUME
117292
OI
20451
432
PPERFU
P.P. 430.8
SUP 1 RES 1
427.4 435.4
SUP 2 RES 2
4.45
INTRADAY LEVELSCopper yesterday traded with the positive node and settled 1.03% up at 432 hitting its priciest level
in about two weeks, as investors once again ignored an in-line interest rate hike and continued to
bet on the global economic recovery. Markets barely flinched after the European Central Bank raised
rates for the first time since July 2008 by 25 basis points to 1.25 percent. Slight pressure had been
witnessed in their session highs after an earthquake of magnitude 7.4 shook the northeast of Japan
'MCXC
O
422.7 438.8
SUP 3 RES 3
419.3 443.5
an a sunam warn ng was ssue or e coas , a rea y evas a e y as mon s qua e an
tsunami. For today's session market is looking to take support at 427.4, a break below could see a
test of 422.7 and where as resistance is now likely to be seen at 435.4, a move above could see
prices testing 438.8.
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107.5
HIGH
OPEN
108.6
% CNG
0.87
VOLUME
109.55
LOW
107.3CLOSE
UTUR
E
7816
RE CNG
0.95
INTRADAY LEVELSZinc yesterday traded with the positive node and settled 0.87% up at 108.6 tracking LME zinc
24691
OI
X
ZINC
P.P. 108.5
SUP 1 RES 1
107.4 109.7
SUP 2 RES 2
106.2 110.7
SUP 3 RES 3
105.2 111.9
pr ces w c move e ween , - , m ur ng e s an ra ng ours. n e
evening, European central bank announced to raise interest rates by 25 basis points to
1.25%, the first interest rate hike since July 2008. But LME zinc prices rose to USD 2,470-
2,480/mt, with prices once touching USD 2,486/mt. Since a 7.4 magnitude earthquake
occurred in east Japan, LME zinc prices lost some gains, with prices finally closing at USD
2,465/mt, up USD 24/mt, above the 5-day moving average. For today's session market is
looking to take support at 107.4, a break below could see a test of 106.2 and where as
resistance is now likely to be seen at 109.7, a move above could see prices testing 110.7.
MC
HIGH
1214LOW
1174.5UR
EOPEN
1176.9
RE CNG
% CNG
2.01
VOLUME
64275
OI
7920
1198.6
KELFU
P.P. 1196
SUP 1 RES 1
1177 1217
SUP 2 RES 2
24.1
INTRADAY LEVELSNickel yesterday traded with the positive node and settled 2.01% up at 1198.6 tracking LME nickel
for delivery in three months opened at USD 26,500/mt and closed at USD 27,000/mt, up by USD
455/mt from a day earlier, with the highest price at USD 27,400/mt and the lowest price at USD
26,351/mt. LME base metals largely ended with gains on Thursday due to strong demand signals,
but a new earthquake in Japan pared certain gains. LME nickel prices extended Wednesday's strong
upward momentum overnight. LME nickel prices largely fluctuated stably during the Asian tradingMCXN
I
1156 1235
SUP 3 RES 3
1138 1256
hours, but surged to the highest of USD 27,400/mt during the Asian trading hours, with prices
closing above all day moving averages. For today's session market is looking to take support at
1177.4, a break below could see a test of 1156.2 and where as resistance is now likely to be seen at
1216.9, a move above could see prices testing 1235.2.
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8/6/2019 Share Tips Expert Commodity Report 08042011
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OPEN
117.6
HIGHR
% CNG
0.04
VOLUME
118.7
LOW
117.3CLOSE
117.95
UMFU
T
4533
OI
1906
RE CNG
Aluminium yesterday traded with the positive node and settled 0.04% up at 117.95 tracking LME
0.05
INTRADAY LEVELSLUMINI
P.P. 118.0
SUP 1 RES 1
117.3 118.7
SUP 2 RES 2
116.6 119.4
SUP 3 RES 3
115.9 120.1
a um num pr ces w c opene a , m , an a er s reng ene suppor e y soar ng cru eoil prices and a weaker US dollar caused by the European Central Banks interest rate increase, with
the highest level reported at USD 2,694.3/mt, again setting a new high. At the end of trading, the
7.4 magnitude aftershock in northeast Japan triggered panic sell-offs in the market, dragging down
LME aluminum prices to close at USD 2,680/mt, up USD 7.5/mt or 0.28% compared with the
previous trading day. Later, the US Labor Department announced that the initial jobless claims fell to
382k last week, down 10k from a week earlier. The better-than-expected employment data helped
push up the US dollar index, but later a major aftershock measuring 7.4 magnitude hit northeast
Japan on Thursday evening, triggering large-scale sell-offs in the market. For today's session market
MCX
LOW
TURE
OPEN
184.4
HIGH
185.1
179.3
15148
RE CNG
OI
VOLUME
34199
-2.11
180.5
.GAS
F % CNG
P.P. 181.6
SUP 1 RES 1
178.2 184.0
SUP 2 RES 2
Natural gas yesterday traded with the negative node and settled -2.11% down at 180.5 for a fifth
day, dropping to the lowest level in three-weeks after the US EIA said natural gas inventories fell
less-than-expected last week. It earlier fell to USD4.034 per mBtu, the lowest price since March 17.
The contract traded at USD4.116 prior to the release of the EIA data. The U.S. EIA said in its weekly
report that natural gas storage in the U.S. in the week ended April 1 fell by 45 bcf, after rising by 12
bcf in the preceding week. Market had expected U.S. natural gas storage to fall by 50 bcf. According
-3.8
INTRADAY LEVELS
CXNA
175.8 187.4
SUP 3 RES 3
172.4 189.8
to the data, total U.S. natural gas storage in the week ended April 1 stood at 1.579 trillion cubic feet.
Stocks were 86 bcf less than last year at this time and 10 bcf above the five-year average of 1.569
trillion cubic feet for this time of year. Prices were also pressured as forecasts showed warmer-than-
normal temperatures in the US next week, dampening demand expectations for the heating fuel. For
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DAILY SPR EAD IN SILVER - MCXDAILY SPREAD IN GOLD - MCX
ACTIVE SPREAD UPDATE
MONTH RATE JUNE AUG OCT MONTH RATE MAY JULY SEPT
JUNE 21177 294 589 MAY 57934 760 1526
AUG 21471 295 JULY 58694 766OCT 21766 SEPT 59460
Spread between Gold JUN & AUG contracts yesterday
ended at 294, we have seen yesterday that the gold
market had traded with a positive node and settled 0.05%
up. Spread yesterday traded in the range of 290 - 302.
Spread between Silver MAY & JUL contracts yesterday
ended at 760, we have seen yesterday that the silver
market had traded with a positive node and settled
0.39% up. Spread yesterday traded in the range of 711 -
760.
MONTH RATE APRIL MAY JUNE MONTH RATE APRIL JUNE
APRIL 4880 54 102 APRIL 432 5.95
MAY 4934 48 JUNE 437.95
JUNE 4982
DAILY SPREAD IN CRUDE - MCX DAILY SPREAD IN COPPER - MCX
Sprea etween cru e MAR & APR contracts yester ay
ended at 54, we have seen yesterday that the crude
market had traded with a positive node and settled 1.76%
up. Spread yesterday traded in the range of 52 - 59.
DAILY SPREAD IN ZINC - MCX
Sprea etween copper APR & JUN contracts yester ay
ended at 5.95, we have seen yesterday that the copper
market had traded with a positive node and settled
1.03% up. Spread yesterday traded in the range of 5.95 -
6.
DAILY SPR EAD IN NICKEL - MCXARKET
MONTH MONTH
APRIL 108.6 1.15 APRIL 1198.6 8.2
MAY 109.75 MAY 1206.8
Spread between zinc APR & MAY contracts yesterday
ended at 1.15, we have seen yesterday that the zincmarket had traded with a positive node and settled 0.87%
up. Spread yesterday traded in the range of 1 - 1.2.
Spread between nickel APR & MAY contracts yesterday
ended at 8.20, we have seen yesterday that the nickelmarket had traded with a positive node and settled
2.01% up. Spread yesterday traded in the range of 8.00 -
8.2.PREAD
MONTH RATE APRIL MAY MONTH RATE APRIL MAY
APRIL 180.5 5.2 APRIL 1043.3 -54.5
MAY 185.7 MAY 988.8
S read between natural as APR & MAY contracts S read between menthol oil APR & MAY contracts
DAILY SP READ IN MENTHOL - MCXDAILY SPREAD IN N AT. GAS - MCX
yesterday ended at 5.20, we have seen yesterday that the
natural gas market had traded with a negative node and
settled -2.11% down. Spread yesterday traded in therange of 4.9 - 5.3.
yesterday ended at -54.50, we have seen yesterday that
the menthol oil market had traded with a positive node
and settled 0.33% up. Spread yesterday traded in therange of -64.3 to -54.5.
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DAY TIME CURRENCY Fo re cast P re viou s
12:30am USD 4.8B 4.4B
DATA
Consumer Credit m/ mL
11:30am EUR 13.3B 11.8B
12:15pm EUR 0 -13.4B
Day 2 EUR 0 0
7:30pm USD 0.011 0.011
7:45pm USD 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0
0
0
Fr i
French Gov Budget Balance
ECOFIN MeetingsWholesale Inventories m/ m
FOMC Member Fisher Speaks
German Trade Balance
ONOMI
C
DATA
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
EC 0
0
0
0
E
Wheat crops in China, the worlds biggest producer, and the US are threatened by continuing drought as La Nina
persists, weather forecasters said. The countries will be the last to emerge from the dry weather linked to La Nina, a
cooling of the Pacific Ocean, and the conditions may linger for two more months. Sustained dry conditions in China
and the US will parch crops that have already deteriorated in Texas and Oklahoma and that are developing in
northern China, BWS and DTN said. Weather is going to be key, Sudakshina Unnikrishnan, an analyst at Barclays
Capital, said in an interview in Singapore yesterday. Even if we have a move-up in acreage, it doesnt automatically
translate to an increase in production.
CA
N
UCopper's worst start in a decade may extend into this quarter as stockpiles expand, Chinese imports plunge and
Japan reels from its nuclear disaster, before rebounding to a record when shortages take hold. Stockpiles tracked by
the Shanghai Futures Exchange rose 85% since the end of September, deterring imports. Analysts expect a drop inpurchases by Japan after the earthquake and tsunami on March 11 closed factories and caused the worst nuclear
accident in a quarter century. That trend should reverse because the country, the fourth-biggest copper user, will
need to rebuild, draining inventories as growth in mine output slows. Prices fell 1.8% in the first quarter, the worst
WSYO
for the period since 2001, and futures traded on the London Metal Exchange anticipate little change through the end
of the year, with the December contract at $9,376. Inventories monitored by exchanges in London, New York and
Shanghai climbed 19% to about 677,700 tonne this year, close to the highest since June. China will expand 9.5% this
year, from 10.3% in 2010, still more than five times the pace of the euro region, according to the median estimates
in Bloomberg surveys of as many as 19 economists. "Seasonally speaking, April is a strong month for copper
demand," said Leon Westgate, an analyst at Standard Bank in London. "If April fails to live up to its reputation as a
strong month in terms of demand, then the metal's immediate outlook is looking rather bleak." The events in Japan
and the Middle East mean that metals prices may stall in the next several months before rebounding, a team of
analysts led by London-based Jeffrey Currie at Goldman Sachs said in a report on March 29.
N
The European Central Bank raised interest rates by 25 basis points to 1.25 percent on Thursday, announcing its first
hike since July 2008 to counter firming inflation pressures in the 17-country euro zone. The euro was steady after the
decision, which ECB policymakers had flagged heavily in advance. The increase in the ECB's benchmark refinancing
rate marks a gentle exit from the central bank's policy response to the global financial crisis. It had held the refi rate
at a record low 1.0 percent since May 2009. The ECB also raised its deposit rate by 25 basis points to 0.50 percent,
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and increased its marginal lending rate by the same amount to 2.0 percent.
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