Commodity News with Market Rate and Target for 18th Oct 2012

BULLION:  Gold closed slightly higher, partially recovering from sharp losses early in the week, Gold holdings  of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,333.89 tons, as on Oct. 15.
Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 9,861.44 tons, as on Oct, 16.
                                              High            Low         Close    %Chg    
 Gold(Dec) /10 gm -             31,163        31,041       31,140      0.3    
Silver(Dec) /kg-                    60,640        60,060       60,574      0.9  
Gold Mini /10 gm  -              30,998        30,882        30,975     0.3    
Silver Mini /kg -                    60,650        60,071        60,593     0.9    

BASE METALS : Copper futures & other metals closed higher, on a stronger euro and surprisingly good housing data in the US.

Alum Oct -                           104.7          102.6           104.4      1.2  
Copper Nov-                       439.6           433.1           439.2      1.1
Lead Oct -                           114.5          111.5          114.0        1.7
Nicke Oct -                          908.0          889.1          906.9       1.5
Zinc Oct -                             100.9           98.9          100.5        0.9

ENERGY :
Crude oil futures traded steadily above $92 per barrel level, as sentiments were weighed by better demand prospects from a weaker dollar and jump in US housing starts, against a biggerthan-expected rise in crude supplies. Crude stocks at Cushing, Oklahoma fell by 140,000 barrels to 44.03mn barrels, as per EIA.
Natural gas futures recovered from early losses, on speculation that government data may show a smaller than-normal increase in stockpiles for last week. Natural gas stocks are expected to increase by 47-50bn cubic feet, actual data will be released by EIA later in the day.

Cr. oil (Oct) /bbl -               4,912           4,845            4,868      0.2
Nat.gas (Oct) /mmbtu -         185.3           180.3            183.4    0.9


Trade Recommendations
Commodity                Strategy        Levels       Target 1        Target 2       Stop-Loss      Trend
Gold (Dec)                     Buy        31070-31090    31170            31250             31040       Corrective
Silver (Dec)                    Buy        Above 60640    60850             61050            60490       Corrective
Copper (Nov)                Buy        Around 440            443                 446                438        Sideways
Aluminum (Oct)             Buy         Around 104.5         105.5             106.5              103.8     Sideways
Lead (Oct)                    Buy         114.1-114.3           115.3              116.5             113.5     Sideways
Nickel (Oct)                  Buy             905-908              920                 935                897          Down
Zinc (Oct)                     Buy         100.3-100.5           101.5                -                     99.7      Sideways
Crude oil (Oct)             Buy         Around 4850          4880              4910               4835          Down
Natural gas (Oct)          Sell             Below 184           181                178                  186.4          Up