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Daily Commodity Market Update as on Monday, January 03, 2011
PRECIOUS METALS COMPLEX
NAME OPEN HIGH LOW CLOSE % CNG
GOLD 20740 20764 20735 20750 0.11
SILVER 46250 46308 46228 46264 0.10
GOLD 1419.45 1421.10 1413.90 1417.50 -0.14
SILVER 30.84 30.93 30.63 30.78 -0.26
PLATINUM 1767.75 1771.50 1761.50 1771.50 0.21
Gold edged lower on Monday, after finishing 2010 with a
near 30 percent gain, pressured by a rebound in the
dollar, while silver retreated from a 30-year high hit
earlier in the day.SPOT $
MCX
NAME OPEN HIGH LOW CLOSE % CNG
CRUDE 4094 4100 4086 4087 -0.02
N.GAS 197.50 198.90 197.50 198.80 0.50
Crude oil eased but held above the $91 a barrel mark on
optimism the gathering momentum in the global
economic recovery would drive demand growth and send
prices into triple-digit territory later this year. Warmer
weather forecasts after the blizzard that pummeled the
U.S. Northeast have cast doubts on sustained domestic
MCX
ENERGY COMPLEX
CRUDE 89.95 92.06 89.05 91.45 1.67
NAME OPEN HIGH LOW CLOSE % CNG
demand for heating fuel, and could cap gains in oil
prices. Nat.Gas look to trade in the range 195-204 with a
positve node. as short-covering and forecasts for colder
BASEMETAL COMPLEX
Base metal last week jumped and settled on dollar
MCX
. . . . .
ZINC 109.95 110.05 109.70 109.85 0.05
NICKEL 1116.20 1126.50 1116.20 1124.30 0.60
LEAD 115.40 115.50 115.25 115.45 0.17
ALUMINIUM 110.75 110.9 110.6 110.8 -0.05
COPPER 0.00 0.00 0.00 0.00 0.00 5050
ZINC 0.00 0.00 0.00 0.00 0.00 3075
COPPER
ZINC
376000
701700
weakness, in today’s session market look to trade in the
range as LME will be closed so no major move is expected
in the market some profit booking can be seen.
LME STOCKLM E
. . . . .
NICKEL 0.00 0.00 0.00 0.00 0.00 -276
LEAD 0.00 0.00 0.00 0.00 0.00 -850
ALUMINIUM 0.00 0.00 0.00 0.00 0.00 8025
SENSEX NIFTY NASDAQ S&P NYSE DOW JON NIKKEI SHICOM KOREA HKFE $ INDEX
20653.49 6176.6 2217.86 1257.64 7964.4 11577.51 10228.92 2808.08 2065.84 23377.65 79.33
GLOBAL MARKETS UPDATE
4280600
NICKEL
LEAD
ALUMINIUM
135444
206850
0.7 0.68 -0.35 -0.03 0.16 0.07 0 1.76 0.72 1.49 0.32
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OPEN
20740
HIGH
F U T U R
E LOW
20735
% CNG
VOLUME
20764
CLOSE
20750
0.11
X
G O L D
INTRADAY LEVELS
16023
1709
OI
RE CNG
22
P.P. 20750
SUP 1 RES 1
20735 20764
SUP 2 RES 2
20721 20779
SUP 3 RES 3
20706 20793
M C
o oo o e ge ower, a er n s ng w a near percen ga n, pressure y a
rebound in the dollar. The dollar was a touch firmer, after ending a volatile 2010 a bit higher,
with investors gearing up for gains in early 2011 on expectations the U.S. economic recovery
was gaining momentum. Now technically market is trading in the range as RSI for 18days is
currently indicating 59.21, where as 50DMA is at 20489.36 and gold is trading above the
same and getting support at 20735 and below could see a test of 20721 level, And resistance
is now likely to be seen at 20764, a move above could see prices testing 20779.
LOW
U R
E46308
46228
OPEN
46250
HIGH
V E R F U
RE CNG
46264
% CNG
OI
15380
2279
0.10
VOLUME
P.P. 46267
SUP 1 RES 1
46225 46305
SUP 2 RES 2 M C X S
I
Strong last week gains in base metals saw supportive for the silver, Spot silver touched a 30-
year high of $30.93 an ounce earlier, but eased to $30.67. Holdings in the world's largest
silver-backed exchange-traded fund, iShares Silver Trust, rose for the first time since Dec 17
to 10,921.57 tons by Dec 31 from 10,903.34 tons. Now technically market is trading in the
range as RSI for 18days is currently indicating 70.49, where as 50DMA is at 42585.76 and
47
INTRADAY LEVELS
46187 46347
SUP 3 RES 3
46145 46385
Strictly for private circulation
silver is trading above the same and getting support at 46225 and below could see a test of
46187 level, And resistance is now likely to be seen at 46305, a move above could see prices
testing 46347.
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OPEN
4094
HIGH
F U T U R E 4100
LOW
4086CLOSE
4087
% CNG
-0.02
VOLUME
C R U D E
3174
OI
27148
RE CNG
-1
INTRADAY LEVELS
Crude oil eased today in the morning session, but held above the $91 a barrel mark on optimism the P.P. 4091
SUP 1 RES 1
4082 4096
SUP 2 RES 2
4077 4105
SUP 3 RES 3
4068 4110
M C
gathering momentum in the global economic recovery would drive demand growth and send prices into
triple-digit territory later this year. Warmer weather forecasts after the blizzard that pummeled the U.S.
Northeast have cast doubts on sustained domestic demand for heating fuel, and could cap gains in oil
prices. Iran's OPEC governor said on Friday the global demand for OPEC oil will increase in 2011, oil
ministry website SHANA reported. Now technically market is trading in the range as RSI for 18days is
currently indicating 55.62, where as 50DMA is at 3986.86 and crude is trading above the same and getting
support at 4082 and below could see a test of 4077 level, And resistance is now likely to be seen at 4096, a
move above could see prices testing 4105.
T U R
EOPEN
439.30
HIGH
439.70LOW
438.9
P P E R F U 439.55
% CNG
0.01
VOLUME
2970
OI
34706
RE CNG
P.P. 439.4
SUP 1 RES 1
439.1 439.9
SUP 2 RES 2 M C X C
O
Copper prices have climbed above the USD 9,500/mt mark last week, but will experience consolidations at
the mark in the short term. Some bounce can be seen after a strong 7.1 magnitude earthquake hit central
Chile on Sunday, driving panicked residents from their homes due to fears of a tsunami but causing no
injuries or damage. In yesterday's trading session copper has touched the low of 438.9 after opening at
439 3 and finall settled at 439 55 For toda 's session market is lookin to take su ort at 439 1 a break
0.05
INTRADAY LEVELS
438.6 440.2
SUP 3 RES 3
438.3 440.7
. , an na y se e a . . or o ay s sess on mar e s oo ng o a e suppor a . , a rea
below could see a test of 438.6 and where as resistance is now likely to be seen at 439.9, a move above
could see prices testing 440.2.
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OPEN
109.95
HIGH
U T U R
E110.05
LOW
109.7CLOSE
109.85
% CNG
0.05
VOLUME
X
Z I N C
557
OI
4320
RE CNG
0.05
INTRADAY LEVELS
Zinc yesterday traded with the positive node and settled 0.05% up at 109.85. LME zinc prices P.P. 109.9
SUP 1 RES 1
109.7 110.0
SUP 2 RES 2
109.5 110.2
SUP 3 RES 3
109.3 110.4
M C were not strongly supported by the weakened US dollar index and the positive economic data.
LME zinc prices overnight opened at USD 2,370/mt, with prices trying to touch USD 2,428/mt
during the day, but finally closed at USD 2,370/mt. In yesterday's trading session zinc has
touched the low of 109.7 after opening at 109.95, and finally settled at 109.85. For today's
session market is looking to take support at 109.7, a break below could see a test of 109.5
and where as resistance is now likely to be seen at 110, a move above could see prices
testing 110.2.
U R
EOPEN
1116.20
HIGH
1126.50LOW
1116.20
K E L F U 1124.30
% CNG
0.60
VOLUME
2014
OI
9294
RE CNG
P.P. 1122.3
SUP 1 RES 1
1118.2 1128.5
SUP 2 RES 2 M C X N
I
6.8
INTRADAY LEVELS
Nickel yesterday traded with the positive node and settled 0.6% up at 1124.3. Boosted by a
series of upbeat economic reports from the US, LME nickel prices opened at USD 23,900/mt
and closed at USD 24,100/mt overnight, up by USD 195/mt or up by 0.82% from a day
earlier, with the highest price at USD 24,335/mt and the lowest price at USD 23,900/mt. In
yesterday's trading session nickel has touched the low of 1116.2 after opening at 1116.2, and
1112.0 1132.6
SUP 3 RES 3
1107.9 1138.8
finally settled at 1124.3. For today's session market is looking to take support at 1118.2, a
break below could see a test of 1112 and where as resistance is now likely to be seen at
1128.5, a move above could see prices testing 1132.6.
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ROPEN
110.75
HIGH
U M F U
T110.90
LOW
110.6CLOSE
110.8
% CNG
-0.05
VOLUME
L U M I N I
-0.05
INTRADAY LEVELS
289
OI
3320
RE CNG
P.P. 110.8
SUP 1 RES 1
110.6 110.9
SUP 2 RES 2
110.5 111.1
SUP 3 RES 3
110.3 111.2 M C X
A uminum yester ay tra e wit t e negative no e an sett e -0.05% own at 110.8. LME
aluminum prices fluctuated at high levels, and opened at USD 2,448/mt, and later hit a high
of USD 2,458/mt and closed at USD 2,454/mt, down USD 1/mt compared with the previous
trading day. In yesterday's trading session aluminum has touched the low of 110.6 after
opening at 110.75, and finally settled at 110.8. For today's session market is looking to take
support at 110.6, a break below could see a test of 110.5 and where as resistance is now
likely to be seen at 110.9, a move above could see prices testing 111.1.
T U R E
OPEN
197.50
HIGH
198.90LOW
197.50
. G A S
F % CNG
VOLUME
1448
17621
RE CNG
OI
198.80
0.50
P.P. 198.4
SUP 1 RES 1
197.9 199.3
SUP 2 RES 2
C X N A
1
INTRADAY LEVELSNatural gas yesterday traded with the positive node and settled 0.5% up at 198.8 markets is
trading in the range 192-200 as the number of rigs drilling for natural gas in the US slid by 12
this week to 919, its fourth straight weekly decline. Government data this week showed gross
domestic gas production slipped in October, its first decline in four months and possible sign
producers are shifting focus away from gas due to low prices. Rising output from shale gas
197.0 199.8
SUP 3 RES 3
196.5 200.7
as een e pr mary r ver o ncrease gas pro uc on n e as ew years, esp e a a r y
cold winter so far, gas inventories are still about 8 percent above average and offer a
comfortable cushion to help meet heating demand. For today's session market is looking to
take support at 197.9, a break below could see a test of 197 and where as resistance is now
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ACTIVE SPREAD UPDATE
DAILY SPREAD IN GOLD - MCX DAILY SPREAD IN SILVER - MCX
MONTH RATE FEB APRIL JUNE MONTH RATE MARCH MAY JULY
FEB 20750 197 377 MARCH 46264 243 376
APRIL 20947 180 MAY 46507 133JUNE 21127 JULY 46640
Spread between Gold FEB & APR contracts yesterday
ended at 197, we have seen yesterday that the gold
market had traded with a positive node and settled 0.11%
up. Spread yesterday traded in the range of 196 - 205.
Spread between Silver MAR & MAY contracts yesterday
ended at 243, we have seen yesterday that the silver
market had traded with a positive node and settled 0.1%
up. Spread yesterday traded in the range of 217 - 249.
MONTH RATE JAN FEB MARCH MONTH RATE FEB APRIL
JAN 4087 59 113 FEB 439.55 3.00
FEB 4146 54 APRIL 442.55
MARCH 4200
DAILY SPR EAD IN COPPER - MCXDAILY SP READ IN CRUDE - MCX
Sprea etween copper FEB & APR contracts yester ay
ended at 3, we have seen yesterday that the copper
market had traded with a positive node and settled
0.01% up. Spread yesterday traded in the range of 2.6 -
3.
DAILY SPREAD I N NICKEL - MCXDAILY SPR EAD IN ZINC - MCX A R K E T
Sprea etween cru e JAN & FEB contracts yester ay
ended at 59, we have seen yesterday that the crude
market had traded with a negative node and settled -
0.02% down. Spread yesterday traded in the range of 53
59.
MONTH MONTH
JAN 109.85 1.20 JAN 1124 10.30
FEB 111.05 FEB 1135
Spread between zinc JAN & FEB contracts yesterday ended
at 1.2, we have seen yesterday that the zinc market hadtraded with a positive node and settled 0.05% up. Spread
yesterday traded in the range of 1 - 1.8.
Spread between nickel JAN & FEB contracts yesterday
ended at 10.30, we have seen yesterday that the nickelmarket had traded with a positive node and settled 0.6%
up. Spread yesterday traded in the range of 10.30 - 13.3.
P R E A D
MONTH RATE JAN FEB MONTH RATE JAN FEB
JAN 198.80 2.80 JAN 1209.30 6.00
FEB 201.60 FEB 1215.30
S read between natural as JAN & FEB contracts S read between menthol oil JAN & FEB contracts
DAILY SPREAD IN NAT. GAS - MCX DAILY SPREAD IN MENTHOL - MCX
yesterday ended at 2.80, we have seen yesterday that the
natural gas market had traded with a positive node and
settled 0.5% up. Spread yesterday traded in the range of 2.8 - 2.9.
yesterday ended at 6.00, we have seen yesterday that
the menthol oil market had traded with a positive node
and settled 2.1% up. Spread yesterday traded in therange of 0.8 to 6.4.
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DAY TIME CURRENCY Forecast Prev ious
All Day EUR 0 0 L
French Bank Holiday
DATA
All Day EUR 0 0
All Day EUR 0 0
2:30pm EUR 56.9 56.88:30pm USD 57.1 56.6
8:30pm USD 0.002 0.007
8:30pm USD 71.9 69.5
0 0 0 0
0 0 0 0 O N O M I
C
D A T A
Italian Bank Holiday
Final Manufacturing PMIISM Manufacturing PMI
Construction Spending m/ m
German Bank Holiday
Mo n ISM Manufacturing Prices
0
0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
E C 0
0
0
0
China's gross domestic product (GDP) is predicted to grow by around 9.5% in 2011, 0.5 % points lower compared to
the growth rate expected for this year, said a report issued Wednesday by the Bank of China (BOC). The report by
E
the BOC, China's third largest lender, was based on the bank's projections of weak overseas demand, tighter
monetary policy, and the government's planned economic restructuring for 2011, the first year of China's 12th five-
year plan. The Chinese government announced in early December that it would switch its monetary policy stance
from relatively loose to prudent next year to tackle rising inflation and keep economic growth at a sustainable pace.
The report also said government policies this year to curb soaring property prices in some major cities, and the
country's efforts to improve energy efficiency had slowed the economy with the GDP dropping to 9.6 % in the third
quarter, down from the second quarter's 10.3 % and 11.9 % in the first quarter. The report also forecast inflation to
rise 4 % in 2011, compared to the 3.3% rise expected for 2010. It said that in the second half of the year, the
producer price index (PPI) for China's industrial products had kept rising along with the consumer price index (CPI),
C A
N
Ua ng more n a onary pressure or e u ure.
Rising Yuan And Higher Production Number Boost Copper : The strong demand prospects for 2011 boosted copper
prices. Rising yuan and higher production of Copper in China provided further impetus in the markets. The Chinese
currency yuan, also known as the Renminbi (RMB), strengthened to a new record high at 6.6229 per U.S. dollar
W S Y O
Thursday. China Ministry of Industry and information Technology showed that the non-ferrous metal production
jumped significantly in Jan-Nov 2010.The non-ferrous metals production for Jan-Nov 2010 was 28.75 million tonnes,
up 21.4%. Among the total non-ferrous metals production, Copper production stood at 4.184 million tonnes during
Jan-Nov 2010, up 10.7%. Meanwhile, benchmark Copper contract on MCX is trading at Rs 435 per kg, up Rs 5.5 per
kg, or 1.2%. Further elevation is expected to take prices towards Rs 437 per kg. COMEX Copper March futures is
trading at $ 4.3690 per pound, up 0.5 cents.
N Sterling steady vs dollar, economic concerns weigh : Sterling was steady against a weaker dollar on Thursday, off an
earlier one-week high and underperforming other major currencies as concerns about a fragile UK economic outlook
weighed on the pound. Trade was very thin, exaggerating price action. With only a few year-end flows going through,
sterling was mostly driven by movements elsewhere, hitting a fresh low against the Swiss franc, which was
underpinned broadly by its safe-haven status. Comments from Bank of England policymaker Andrew Sentance
warning against a delay in raising interest rates to contain inflation had little impact on the pound. Sentance is known
to be a hawk and is seen as a lone voice among UK policymakers, while investors' primary concern is about the
negative impact the government's planned austerity measures could have on the UK economy. "Sterling is ust
following everything else. Markets are thin and just one order can turn things around," said Geoffrey Yu, currency
strategist at UBS in London. "Going forward we think sterling will stay rangebound against the dollar and the euro,
but soft against commodity currencies and the Swiss franc," he said, adding that recent UK data had been "not that
bad but not inspiring either".
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