Daily Commodity Report 22 Nov 2013 by EPIC RESEARCH
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Transcript of Daily Commodity Report 22 Nov 2013 by EPIC RESEARCH
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8/13/2019 Daily Commodity Report 22 Nov 2013 by EPIC RESEARCH
1/7
ndNOVEMBER. 2013
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COMMODITY WRAPUP
Gold hit a four-month low on Thursday, hurt by
speculation the US Federal Reserve might be ableto start scaling back its monetary stimulus soon. US
gold futures for December delivery fell 1.5 per cent
to $1,238.90 an ounce. Gold's drop to a four-month
low this week attracted buyers in Asia but the re
were doubts that the demand would last as con-
sumers may be waiting for the market to go even
lower. In India, despite muted demand, premiums
jumped to $120 an ounce from $80 last week
Silver prices fell by 0.64% to Rs 46,220 per kg in
futures trade yesterday as speculators trimmed
their positions, taking weak cues from the global
markets. At MCX silver March 2014 declined by Rs
297, or 0.64%, to Rs 46,220 per kg in business vol-
ume of 64 lots. On the similar lines, the white
metal for delivery in Dec traded lower by Rs 282,
or 0.63%, to Rs 44,717 per kg in business turnover
of 775 lots. Silver traded 2.41% lower at $19.85 anounce in New York in yesterday's trade.
At MCX, copper Nov. traded higher by Rs 1.95,
or 0.45%, to Rs 437.05 per kg in a business turn-over of 930 lots. The metal for delivery in Febru-
ary next year gained Rs 2, or 0.45%, at Rs 448.80
per kg in a business volume of 129 lots. Besides
increased demand from consuming industries, a
firming trend overseas after Fed Chairman said
that the benchmark interest rate will remain low
long after policy makers reduce bond purchases,
influenced copper prices at futures trade.
MCX Crude oil futures recovered yesterday but
the gains were primarily because of weak under-
tone in the INR as global prices were weighed
down by Euro-zone growth worries. Oil prices
also got eased in Asia after talks between Iran
and world powers on its disputed nuclear pro-
gram opened in Geneva, while signs of rising US
demand failed to boost New York's main con-
tract. Domestic inventories had risen 400,000barrels last week lower than expectations.
GOLD
CRUDE OIL
COPPER
SILVER
SPECIAL NEWS COMMODITY BUZZ*The U.S. Bureau of Labor Statistics reported on
Wednesday. Over the last 12 months, the all
items index increased 1.0% before seasonal ad-
justment. The index for all items less food and
energy rose 0.1% in October, steady over lastmonth. On annual basis, the index for all items
less food and energy has risen 1.7% over the
last year, while the food index has risen 1.3%,
The energy index has declined 4.8% over the
last 12 months, its largest 12-month decline
since July 2012. US data suggested stronger la-
bor market conditions and subdued inflation
pressures. US weekly jobless claims fell more
than expected last week, while US producerprices fell for a second straight month in Octo-
ber.
Commodity indices have continued to perform
badly moving into 4th quarter of 2013 and weakness
in metals and agri-commodities complex is seeping
into energy, It was the 3rd consecutive year of
negative returns. In its annual rebalancing at begin-ning of next year, the index will reduce its alloca-
tion to US NG. WTI crude oil and cotton in favor of
gold, corn and silver. Reweighting events may not
have any appreciable impact on commodity pricing.
CME lowered Comex 100 Gold futures (GC) mar-
gins to $7,975 per contract from $8,800 and cut
Comex 5000 Silver futures (SI) margins to $11,000
per contract from $12,375. CME also cut mainte-
nance margins for gold to $7,250 per contract from
$8,000. All the margin changes will be effective af-
ter the close of business on Friday, Nov. 22.
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COMMODITY LEVELS
COMMODITIES CONTRACT S2 S1 PIVOT R1 R2GOLD 05DEC2013 29759.00 30022.00 30180.00 30443.00 30601.00SILVER 05DEC2013 44219.67 44673.33 45004.67 45458.33 45789.67CRUDE 18 DEC 2013 5863.67 5958.33 6010.67 6105.33 6157.67NATURAL GAS 25 NOV 2013 226.03 229.97 232.83 236.77 239.63COPPER 29 NOV 2013 433.08 438.87 441.93 447.72 450.78NICKEL 29 NOV 2013 837.77 843.73 847.67 853.63 857.57LEAD 29 NOV 2013 128.58 129.77 130.48 131.67 132.38ZINC 29 NOV 2013 116.17 117.13 117.62 118.58 119.07ALLUMINIUM 29 NOV 2013 108.53 109.57 110.13 111.17 111.73
ITEM Contract Open High Low Close Chg. OI (inlots) TRENDGOLD 05 DEC 2013 30030 30338 29917 30285 +0.51 6115 SidewaysSILVER 05 DEC 2013 44851 45336 44551 45127 +0.59 10311 BearishCRUDE 18 DEC 2013 5928 6063 5916 6053 +2.35 10752 BullishNATURALGAS 25 NOV 2013 228.90 235.7 228.9 233.90 +2.63 8270 BullishCOPPER 29 NOV 2013 137.45 445 436.15 444.65 +1.88 11550 BullishNICKEL 29 NOV 2013 849.50 851.60 841.7 849.7 +0.54 9162 BullishLEAD 29 NOV 2013 130.10 131.2 129.3 130.95 +0.69 27.95 BullishZINC 29 NOV 2013 117.05 118.10 116.65 118.1 +1.07 2298 BullishALUMINIUM 29 NOV 2013 109.60 110.70 109.1 110.60 +1.15 1875 Bullish
SUPPORT & RESISTANCE
DAILY LEVELS WITH TREND
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RECOMMENDATION
BUY GOLD ABOVE 30500 TGTS 30600/30750 SL 30350
SELL GOLD BELOW 30150 TGTS 30050/29950 SL 30330
BUY SILVER ABOVE 45500 TGTS 45700/46000 SL 45150
SELL SILVER BELOW 44800 TGTS 44600/44300 SL 45150
A swing trading was seen yesterday
in Gold, positive jobless data hit the
gold and took price down to 29917.
Although it recovered, but prices
then stuck in a trend channel and
yet to make convincing trades above
30500 region to generate intraday
buying sentiments 30800.
The prices have broken 45000 level
but failed to close below, As long as
45000 region holds downside prices
likely to trade higher with an upside
target of 46100/46500 at an immedi-
ate level. On the other side, fall be-low 45000 with volume could bid
sel l ing sentiments towards
44800/44500.
GOLD
SILVER
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COMMODITY SPECIALLME INVENTORY (in tonnes)
METALS ChangeALUMINIUM 3300
COPPER -3575
LEAD -775
NICKEL 912
TIN -60
ZINC -4575
MOST ACTIVE CONTRACTS BY (VOLUME)Symbol Expiry Date LTP Value (In Lacs) Volume (In Lots)SILVERMICRO 30-11-2013 45316.00 3,26,37,48,952.00 72,022CRUDE OIL 18-12-2013 6054.00 40,98,31,584.00 67,696NATURAL GAS 25-11-2013 233.80 1,01,37,334.20 43,359COPPER 29-11-2013 444.35 1,76,37,140.20 39,692SILVER M 30-11-2013 45308.00 1,73,46,62,088.00 38,286COPPERMINI 29-11-2013 444.30 1,17,32,630.10 26,407SILVER 05-12-2013 45264.00 1,00,21,90,224.00 22,141GOLD M 05-12-2013 30952.00 66,96,46,520.00 21,635GOLD 05-12-2013 30223.00 53,17,43,462.00 17,594LEADMINI 29-11-2013 130.95 20,54,212.65 15,687
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ECONOMIC CALENDER
TIME(ET) REPORT PERIOD ACTUAL CONSENSUS-FORECAST PREVIOUSMONDAY, NOV. 18
10 am Home builders' index Nov. 56 55
TUESDAY, NOV. 198:30 am
Employment cost in-dex
3Q 0.5% 0.5%
WEDNESDAY, NOV. 208:30 am Retail sales Oct. 0.1% -0.1%
8:30 am Retail sales ex-autos Oct. 0.2% 0.4%
8:30 amConsumer price in-dex
Oct. 0.0% 0.2%
8:30 am Core CPI Oct. 0.2% 0.1%
10 am Business inventories Sept. 0.3% 0.3%
10 am Existing home sales Oct. 5.23 mln 5.29 mln
2 pm FOMC minutes
THURSDAY, NOV. 218:30 am
Weekly joblessclaims
11/16 N/A N/A
8:30 am Producer price index Oct. -0.2% -0.1%
8:30 am Core PPI Oct. 0.1 0.1%
8:58 am Markit flash PMI Nov. -- 51.8
10 am Philly Fed Nov. 15.0 19.8
10 am Leading indicators Oct. --
FRIDAY, NOV. 2210 am Job openings Sept. 3.9 mln
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