GOLD MCX FEB:
Gold trading projected high range for the day is 30987-31052
Gold trading projected low range for the day is 30937-30872
Gold ended with gains helped by a recovery in stock markets and a rise in physical demand.
Premiums on gold shipments to India jumped to their highest level in two months ahead of an expected rise in import duty.
SPDR gold trust holdings dropped by 0.90 tonnes to 1339.85 tonnes
Gold is trading below 50DMA, which is at 31448.
Major Resistance on upside at 31028-31076-31125
Trend Deciding Level at 30946
Major Support on downside at 30898-30816-30768
SILVER MCX MAR:
Silver trading projected high range for the day is 58599-58859
Silver trading projected low range for the day is 58440-58140
Silver gained after stocks posted modest gains enticing investors to take up nicely priced positions in the precious metal.
Overall market emotion remained cautious amid uncertainty about continuing political wrangling over further U.S. budget cuts
Property of iShares Silver Trust, the rose to 10,112.23 tonnes on Jan 7 2013, its highest since May 2011.
Silver is trading below 50DMA, which is at 61345.
Major Resistance on upside at 58729-58989-59250
Trend Deciding Level at 58389
Major Support on downside at 58129-57789-57529
CRUDE MCX JAN:
Crude trading projected high range for the day is 5147-5174
Crude trading projected low range for the day is 5165-5138
Crude oil dropped as market participant traded on expectations stockpiles will rise this week
Iraq’s oil exports fell to 2.35 mln bpd in December from 2.63 mln bpd in November due to a slowdown in Kurdistan exports
Today crude oil inventories: EXP: 0.9M PREV: -11.1M. Actual is at 9.00PM.
Major Resistance on upside at 5157-5190-5223
Trend Deciding Level at 5136
Major Support on downside at 5103-5082-5049
COPPER MCX FEB:
Copper trading projected high range for the day is 450.8-452.90
Copper trading projected low range for the day is 452.10-450
Copper eased after weak German economic data underlined the struggles facing Europe’s leading industrial power.
German built-up orders declined in November, and exports during recorded sharpest monthly drop in more than a year
Focus was predictable to remain on the US economy, as investors remained jittery over the longer term fiscal outlook
Warehouse stock for Copper at LME was at 327375mt that is up by 7975mt.
Major Resistance on upside at 4451.64-454.17-456.70
Trend Deciding Level at 449.97
Major Support on downside at 447.44-445.77-443.24
MENTHA OIL MCX JAN:
Mentha Oil trading projected high range for the day is 1426-1441
Mentha Oil trading projected low range for the day is 1430-1415
Mentha oil spot is at 1588/- Spot market is down by Rs.7/-.
Mentha oil ended lower due to availability of comfortable stocks in local mandies along with prospects of strong mentha crop.
Exporters demand is nil and they are waiting for the importers demand.
Steady prices of mentha oil at major mandies might also lead to strong sowing acreage of mentha crop in the coming season.
Major Resistance on upside at 1432-1448-1463
Trend Deciding Level at 1419
Major Support on downside at 1403-1389-1374
NATURAL GAS MCX JAN:
Natural Gas trading projected high range for the day is 180.1-182.50
Natural Gas trading projected low range for the day is 181.70-179.30
Natural gas fell as market players continued to focus on shifting weather forecasts for the next few weeks.
Updated weather forecasts released earlier showed that mild weather was expected across key parts of the U.S. later in January. Market players remained concerned over bloated U.S. inventory levels and still-high production levels
Major Resistance on upside at 181-184-187
Trend Deciding Level at 179
Major Support on downside at 176-174-171.
Today Major Global Events:
|
Date & Time |
Region |
Event |
Period |
Survey |
Prior |
|
09-01-2013 & 0.:30 |
US |
Consumer Credit |
Nov |
$ 12.750 B |
$ 14.158B |
|
09.01.2013 & 15:00 |
UK |
Total Trade Balance {GBP/MIN} |
Nov |
-£ 3000 |
-£ 3644 |
|
09-01.2013 & 16:30 |
G |
Industrial Production MoM {sa} |
Nov |
1.00% |
-2.60% |
|
09.01.2013 & 17:30 |
US |
MBA Mortgage Applications |
4 Jan |
— |
-10.40% |
|
09-12 Jan |
IN |
India Local Car Sales |
Dec |
— |
158257 |