Commodity Market View for 10th Nov. 2012

Bullion:
Gold prices are expected to bounce till 31500, for intraday one can buy around 31280 -31250 with a stop loss below 31150.
Silver prices also expected to bounce till 63200 -63300, one can buy on dip around 62600 -62500 with a stop loss below 62250.

Base Metal:
Copper prices have witnessed support at 440 -441 levels we expect prices to test 448 – 450 on higher end one can buy with a stop loss below 441.
Nickel prices are expected to trade within the range from 935 to 955 one can trade within the range with a positive bias with a stop loss below 928.
Lead prices are expected to trade within the range from 123 to 120 one can trade  within the range. Fresh buying recommended above 123 on closing
basis.

Energy:
Crude price are likely to remain sideways from 4750 to 4650 one can trade within the range. Exit  all long position below 4650 on closing basis.

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Commodity Market for 26th Nov. 2012

Gold:
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.
Outlook: 
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.
Outlook:  
Copper (November): Copper is expected to move in the range of 420-440 during the week ahead.

Energy:
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.
Outlook:  
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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Commodity News and Updates for 7th oct. 2012

Bullion : 
Gold prices are  expected to remain  volatile ahead a US elections, we expect prices to trade within the broad range from 31500 to 30900.
Silver prices closed at higher end with a positive break above 59200. As long as price holds and closes above 59200 prices are expected to trade higher
Base metal : 
Copper prices are expected to trade higher and test the resistance of 425 -426. For intraday one can buy around 421 with a stop loss below 417. Crossing 426 would witness fresh buying to the tune of 430 – 432.
Nickel prices are expected to trade within a range from 866 to 895 one can buy on dips. One can witness a sideways to positive move for the day.
Lead prices are expected to test 121 -122 on higher end one can buy on dips around 118.
Energy: 
Crude  price  have witnessed a break above 4720 and witness fresh buying we expect prices to trade higher to the tune of 4870, buying on dips is recommended around 4780.

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Weekly MCX Commodity Market Updates

Bullions: 

On the domestic counter Gold can trade in range of 31,000-32,000 and silver in range of 61,500-64,800 in MCX. 

Energy:

Crude oil can trade in the range of 4,650-5,000 in MCX. 

Base Metals:

Copper prices can trade in range of 428-453 in near term. Lead can move in the range of 117-124 while zinc in range of 108-112. Nickel prices can trade in the range of 940-990 in MCX.

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