GOLD:
Gold trading projected high range for the day is 30918-30960
Gold stock market trading projected low range for the day is 30909-30867
Gold ended higher on short covering but showed weekly decline as uncertainties over the U.S. budget weighed on bullion.
The dollar soared as it appeared as a better safe-haven to investors than gold after the Republicans’ action.
SPDR gold trust holdings gained by 0.30 toness to 1351 tonnes.
Gold is trading below 50DMA, which is at 31625.
Major Resistance on upside at 31017-30979-30941
Trend Deciding Level at 30896
Major Support on downside at 30858-30813-30775
SILVER:
Silver trading projected high range for the day is 58180-58379
Silver trading projected low range for the day is 58020-57820
Silver rallied on speculation that plans announced by Japan to stimulate economic growth will boost Silver ended higher amid demand from investors looking for safety as U.S. budget talks hit a fresh snag in Congress.
Investors flocked to bullion to digest a budgetary impasse threatening to throw the U.S. economy into a recession next year.
Holdings at ishares silver trust rose by 150.48 tonnes to 10045.85 tonnes.
Silver is trading below 50DMA, which is at 62281.
Major Resistance on upside at 58306-58452-58597
Trend Deciding Level at 58054
Major Support on downside at 57098-57656-57510
CRUDE:
Crude trading projected high range for the day is 4832-4942
Crude trading projected low range for the day is 4939-4929
Crude oil fell after Republican lawmakers in US withheld support for a proposal to avert the so-called fiscal cliff. A drop in consumer sentiment in December, as the budget talks dragged on, added pressure on oil prices.
World oil demand growth looks set to rise in 2013 due to a recovery in the U.S. economy.
Major Resistance on upside at 4936-4948-4960
Trend Deciding Level at 4928
Major Support on downside at 4916-4908-4896
COPPER:
Copper trading projected high range for the day is 438.28-438.85
Copper trading projected low range for the day is 438.75-438.17
Copper settled flat down recovering from steep falls although investors remained nervous.
Investors have been closely watching talks in recent weeks between the White House and Republican lawmakers to avert the “fiscal cliff”
Trading volumes were thin, however, as markets wound down for the year-end holiday season
Warehouse stock for Copper at LME was at 312400mt that is up by 475mt.
Major Resistance on upside at 438.49-439.22-439.95
Trend Deciding Level at 438.07
Major Support on downside at 437.34-436.92-436.19
MENTHA OIL:
Mentha Oil trading projected high range for the day is 1439-1456
Mentha Oil trading projected low range for the day is 1431-1414
Menthaoil spot is at 1630 Spot market is up by Rs.25.
Mentha oil ended higher on the back of short covering and rising demand in the spot market.
Improved demand from pharmaceutical industries amidst reports of export queries kept sentiments up.
At Barabanki, the total stock was 11, 55, 707 kg of which, physical stock accounted for 10, 58, 865 kg
Major Resistance on upside at 1449-1464-1478
Trend Deciding Level at 1429
Major Support on downside at 1415-1395-1380
Natural Gas:
Mentha Oil trading projected high range for the day is 194.75-195.2
Mentha Oil trading projected low range for the day is 194.8-194.35
Major Resistance on upside at 194.96-195.43-195.9
Trend Deciding Level at 194.53
Major Support on downside at 194.06-193.63-193.16
Today Commodity Advises:
- BUY COPPER MCX FEB ABOVE 438.50 SL 436.80 TGT 440.50-442
- SELL NATURAL GAS MCX DEC BELOW 190 SL 193.8 TGT 188.40-185.20
Today Major Global Events:
|
Date & Time |
Region |
Event |
Period |
Survey |
Prior |
|
26/12/2012 & 19:30 |
US |
S&P/Case Shiller Home Price Ind |
Oct |
145.3 |
146.2 |
|
26/12/2012 & 20:30 |
US |
Richmond Fed Manufact. Index |
Dec |
7 |
9 |