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 New for Today 02 oct. 12

Gold prices are expected to witness a sideways to downward trend one can sell on rise around 31000 -31050 with a stop loss above 31170 for the downside target at 30800 -30750.

Silver prices witnessing selling pressure from higher end we expect prices to test the support at 59400 -59300. For the day we expect prices to trade within a range from 59000 to 60200. Intraday one can sell with a stop loss above 60350.

Copper prices are expected to trade within the range from 418 to 426, one can trade with a positive bias as oscillators are at the oversold zone.

Nickel prices are witnessing pressure at higher end one can expect prices to trade within the range from 865 to 895. One can trade within the range.

Lead was the strongest among the base metal pack. We expect price to cool off around 116, one can expect a support around 113.50 on lower end. Buy on dips is recommended.

Crude price are expected to trade within the range from 4620 to 4740, one can trade within the range with a side ways to positive bias. Support is building up at 4620.

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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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