Monday, 26 November 2012

Commodity Market for 26th Nov. 2012

Gold in India followed international prices and gained over 2% weakening dollar and appreciation in rupee could restrict the steepness of rise in domestic markets in the coming week.
Gold (December): Gold is expected to move in the range of 31800-32700 during the week ahead.

Base metal :
We expect base metals to be range-bound as we await the final decision of IMF for Greece bailout and as policy changes from the new Chinese leadership is expected.
Copper (November): Copper is expected to move in the range of 420-440 during the week ahead.

We expect crude oil to remain flat to bullish with a risk to upside breakout as and when middle east tensions increase in intensity. Cold weather expected across the  major consuming regions of the Northeast and Midwest early next week is not expected to last as long as previously anticipated, which may reduce heating demand and bring down natural gas prices.
Crude Oil (December): Crude is expected to move in the range of Rs 4800-5050 during the week ahead.
 Natural Gas (November): Natural Gas is expected to move in the range of 208 -223 during the week ahead.


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