GOLD:
Gold trading projected high range for the day is 30929-31027
Gold trading projected low range for the day is 31019-30921
Gold prices ended lower as a weak reading of the German economy lifted the dollar versus the euro.
US Fed Reserve stuck to its plan to keep stimulating growth until job market improves but made few surprises in its policy statement
Fed also repeated its vow to keep rates near zero until mid-2015 and its pledge to keep supporting growth
Gold is trading below 50DMA, which is at 31615
Major Resistance on upside at 30963-31091-31219
Trend Deciding Level at 30895
Major Support on downside at 30767-30699-30571
SILVER:
Silver trading projected high range for the day is 59291-59365
Silver trading projected low range for the day is 59461-59117
Silver ended down as from worries about economic slowdown after a raft of disappointing U.S. corporate earnings statements
Fed added that conditions meriting exceptionally low interest rates will stick around likely through 2015
Holdings at ishares silver trust gained by 30.12 tonnes to 9918.67 tonnes.
Silver is trading below 50DMA, which is at 62050
Major Resistance on upside at 59435-59836-60236
Trend Deciding Level at 59148
Major Support on downside at 58747-58460-58058
CRUDE:
Crude trading projected high range for the day is 4682-4732
Crude trading projected low range for the day is 4692-4643
Crude oil fell adding to losses after a U.S. government report showed oil supplies rose more-than-expected last week.
U.S. EIA said in its weekly report that U.S. crude oil inventories increased by 5.9 million barrels
China is the world’s second largest oil consumer after the U.S. and has been the engine of strengthening demand
Major Resistance on upside at 4705-4758-4811
Trend Deciding Level at 4659
Major Support on downside at 4606-4560-4507
COPPER: Copper trading projected high range for the day is 428-430
Copper trading projected low range for the day is 427.3-425.43
Copper ended with slight gains as signs of recovery in China supported prices but gains were limited as dollar rose
China HSBC Flash Manufacturing Purchasing Managers Index (PMI) rose to a three-month high of 49.1 in October
Germany’s flash manufacturing PMI fell to 45.7 in October, from final reading of 47.4 in September, disappointing expectations.
Warehouse stock for Copper at LME was at 222350mt that is down by -250mt.
Major Resistance on upside at 429.09-430.72-432.35
Trend Deciding Level at 427
Major Support on downside at 425.34-423.22-421.59 MENTHA OIL:
Mentha Oil trading projected high range for the day is 1144-1157
Mentha Oil trading projected low range for the day is 1150-1137
is at 1325/-.Spot market is up by Rs.20/-.
Mentha Oil gains on some short covering after prices dropped on the back of strong domestic production
In the current year, cultivators are estimating the total mentha oil production in the range of 51000-53000 tonnes
On 22nd October, total stock of Mentha oil at MCX-monitored warehouses at Chandausi was 1, 00, 677 kg
Major Resistance on upside at 1150-1165-1180
Trend Deciding Level at 1138
Major Support on downside at 1123-1112-1097
Today Commodity Trading Tips:
- BUY SILVER MCX DEC ABOVE 59120 SL 58900 TGT 59260-59420
- BUY MENTHA OIL MCX OCT ABOVE 1140 SL 1128 TGT 1148-1156
- BUY SOYABEAN NCDEX NOV ABOVE 3245 SL 3215 TGT 3260-3290
Today Major Global Events:
|
Date & Time |
Region |
Event |
Period |
Survey |
Prior |
|
25/10/2012 & 14:00 |
UK |
GDP {QoQ} |
3QA |
0.60% |
-0.40% |
|
25/10/2012 & 18:00 |
US |
Chicago Fed Nat Activity Index |
Sep |
-0.2 |
-0.87 |
|
25/10/2012 & 18:00 |
US |
Durable Goods Order |
Sep |
7.00% |
-13.20% |
|
25/10/2012 & 18:00 |
US |
Jobless Claims |
20-Oct |
370K |
388K |
|
25/10/2012 &18:00 |
US |
Consulting Claims |
13-Oct |
3262K |
3252K |
|
25/10/2012 & 19:30 |
US |
Pending Home Sales {MoM} |
Sep |
2.50% |
-2.60% |