Commodity Market News-17 Dec 2014

Gold: The price of standard gold fell 1.1 per cent in India’s spot market in early trade on Tuesday, after the metal slipped below a key support level of $1,200 an oz in the international market, on fear of an interest rate increase by the US.

Silver: The price of silver increased $0.36 to $16.62 an oz.

Lead: Lead prices eased by 0.32% to Rs 125.30 per kg in futures trade today in tandem with a weakening trend in base metals at the London Metal Exchange.

Oil: Oil suffered fresh losses in Asia today, sinking to new multi-year lows as dealers watch Russia's ruble crisis and await the latest US crude supply report, analysts said.

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AGRI COMMODITY MARKET

BULLION COMMODITY MARKET

CS TURMERIC (APRIL) OVERVIEW: TREND MIXED TO BULLISH RESIST 2:8050 RESIST 1:7925 SUP1:7830 SUP2:7700 STRATEGY: BUY ON DIPS

CS COPPER (FEBRUARY) OVERVIEW: TREND BEARISH RESIST1:412 RESIST2:415 SUP1:403 SUP2:398 STRATEGY: SELL ON RISE

CS SOYABEAN (JANUARY) OVERVIEW: TREND BEARISH RESIST 2:3330 RESIST 1:3305 SUP1:3270 SUP2:3260 STRATEGY: SELL ON RISE

CS CRUDE (DECEMBER) OVERVIEW: TREND CONSOLIDATE RESIST1:3690 RESIS 2:3800 SUP1:3410 SUP2:3320 STRATEGY: SELL ON RISE

CS CHANA (JANUARY) OVERVIEW: TREND BULLISH RESIST 2:3250 RESIST 1:3220 SUP1:3140 SUP2:3085 STRATEGY: BUY ON DIPS

CS GOLD (FEBRUARY) OVERVIEW: TREND BEARISH RESIST1:27500 RESIST2:28100 SUP1:26855 SUP2:26500 STRATEGY: SELL ON RISE

CS DHANIYA (JANUARY) OVERVIEW: TREND BEARISH RESIST 2:13280 RESIST 1: 13105 SUP1:12840 SUP2:12750 STRATEGY: SELL ON RISE

CS SILVER (MARCH) OVERVIEW: TREND BEARISH RESIST1:37850 RESIST2:38550 SUP1:36100 SUP2:35500 STRATEGY: SELL ON RISE

Commodity Market News-16 Dec 2014

Gold prices on MCX were trading lower on Tuesday. MCX Gold April contract was trading at Rs 27175 down Rs 266, or 0.97 percent.

Silver prices on MCX slipped on Tuesday. MCX Silver May contract was trading at Rs 38051 down Rs 919, or 2.36 percent.

Oil prices sank further to new multi-year lows in Asia today, with analysts weighing the possible political and economic fallout in oil-producing countries with little respite in the selling.

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Commodity Market News-15 Dec 2014

Silver Prices fell sharply by 1% to Rs 38,320 per kg in futures trade today as speculators indulged in offloading positions.

Zinc futures prices today edged up by 0.55% to Rs 138.10 per kg as participants enlarged positions amid a firming trend at the London Metal Exchange.

Cardamom Prices rose 1.37% to Rs 877.50 per kg in futures trade today largely on the back of pick-up in demand in the spot market amid low stocks.

Crude Oil futures fell by 0.32% to Rs 3,669 per barrel today as traders trimmed positions amid a weakening trend in Asian trade where it sank to a fresh five-year low.

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Commodity Market News-12 Dec 2014

Bullion

• Gold prices ended marginally higher by 0.07 percent to $1227.6/oz amid conflicting signals as the firm dollar fueled hopes that interest rates will rise sooner or later while weak U.S. economic data spurred safe-haven buying.

• Silver prices rose by 0.2 percent to $17.1 in yesterday’s trading session in tandem with rise in gold prices. Strength in the dollar and weakness in Nickel prices however capped upside.

Energy

• Crude oil prices declined by 1.6 and 0.9 percent respectively continuing its recent run of losses. Persistent concerns over a supply glut and a bearish demand outlook is leading to decline in oil prices.

• Natural gas futures ended down 1.43 percent on the latest weather forecasts calling for continued warmer-than-normal temperatures over the next two weeks. That decline came despite a government report early Thursday of a bigger-than-expected storage draw. The EIA said utilities withdrew 51 billion cubic feet of gas from storage last week.

• Base metals on the LME traded on a mixed note on Thursday as weak economic data from the Euro Zone along with mixed trend in LME stocks dragged prices lower.

• Copper prices rose by 0.6 percent yesterday owing to strongeconomic data from the US. Also, weakness in the DX supported gains.

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Commodity Market News-10 Dec 2014

Crude oil futures today fell by Rs 25, or 0.63% to Rs 3,918 per barrel as speculators reduced their exposures, tracking a weak trend in Asian trade.

Zinc prices fell by 0.54% to 137.80 per kg in futures trade today after speculators trimmed positions, tracking a weak global trend.

Mentha oil prices ose 0.38% to Rs 715.50 per kg in futures trading today as speculators indulged in creating fresh positions, supported by pick up in demand from consuming industries in the spot market.

Nickel prices dropped 0.42% to Rs 1,028.90 per kg in futures trade today on weakening trend at the London Metal Exchange and subdued demand at domestic spot markets.

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AGRI & BULLIONS COMMODITY MARKET LEVELS:

CS TURMERIC   (APRIL) OVERVIEW:
TREND  BULLISH
RESIST 2:7740
RESIST 1:7670              
SUP1:7470
SUP2:7350
STRATEGY: BUY ON DIPS

CS SOYABEAN (JANUARY) OVERVIEW:
TREND  BEARISH
RESIST 2:3335
RESIST 1:3320
SUP1:3285
SUP2:3260
STRATEGY: SELL ON RISE

CS CHANA  (DECEMBER) OVERVIEW:                        
TREND  MIXED TO BEARISH
RESIST 2:3135
RESIST 1:3095
SUP1:3015
SUP2:2940
STRATEGY: SELL ON RISE

CS DHANIYA (DECEMBER) OVERVIEW:
TREND    BEARISH
RESIST 2:12770
RESIST 1: 12680              
SUP1:12500
SUP2:12435     
STRATEGY:  SELL  ON RISE

BULLIONS COMMODITY MARKET LEVELS:

CS COPPER (FEBRUARY) OVERVIEW:
TREND   BEARISH
RESIST2:415
RESIST1:410              
SUP 1:400
SUP 2:396
STRATEGY: SELL ON RISE

CS CRUDE (DECEMBER) OVERVIEW:
TREND BEARISH
RESIST 2:4090
RESIST 1:4030
SUP1:3870
SUP2:3820
STRATEGY: SELL ON RISE

CS GOLD (FEBRUARY) OVERVIEW:                        
TREND  BULLISH
RESIST 2:27750
RESIST 1:27500
SUP1:26950
SUP2:26600
STRATEGY: BUY ON DIPS

CS SILVER (MARCH) OVERVIEW:
TREND BULLISH
RESIST 2:39300
RESIST 1:38950              
SUP1:37000
SUP2:37250     
STRATEGY:  BUY ON DIPS

Commodity Market News-09 Dec 2014

Gold Prices rose sharply by Rs 150 or 0.57% to Rs 26,618 per 10 grams in futures trade today after speculators enlarged positions taking cues from overseas markets.

Silver futures traded 0.54% higher at Rs 37,392 per kg today as participants created fresh speculative positions positions, tracking overnight gains in global markets.

Nickel Prices were down by 0.32% to Rs 1,029.80 per kg in futures trade today after speculators off-loaded their positions, tracking a weak trend in base metals overseas.

Chana Prices were down by 0.45% to Rs 3,080 per quintal in futures trade today as speculators booked profits at existing higher levels coupled with subdued demand in the spot market.

Crude Oil futures fell by 1.22% to Rs 3,885 per barrel today as speculators engaged in reducing their exposures amid a weakening trend in Asian trade where it tumbled to fresh five-year lows owing to weak demand.

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AGRI & BULLIONS COMMODITY MARKET LEVELS:

CS TURMERIC   (DECEMBER) OVERVIEW:
TREND MIXED TO BULLISH
SUP1:6360
SUP2:6270              
RESIST1:6450
RESIST2:6540
 
CS SOYABEAN (DECEMBER) OVERVIEW:
TREND BULLISH
SUP1:3270
SUP2:3255
RESIST1:3290
RESIST2:3300
 
CS CHANA  (DECEMBER) OVERVIEW:                        
TREND  MIXED TO BULLISH
SUP1:3050
SUP2:3015
RESIST1:3130
RESIST2:3174
STRATEGY: BUY ON DIPS
 
CS DHANIYA (DECEMBER) OVERVIEW:
TREND    BEARISH
SUP1:12710
SUP2: 12650              
RESIST1:12850
RESIST2:12910     
STRATEGY:  SELL  ON RISE
 
BULLIONS COMMODITY MARKET LEVELS:

CS COPPER (FEBRUARY) OVERVIEW:
TREND   BEARISH
SUP1:396
SUP2:393              
RESIST1:404
RESIST2:407
STRATEGY: SELL ON RISE
 
CS CRUDE (DECEMBER) OVERVIEW:
TREND BEARISH
SUP1:3810
SUP2:3770
RESIST1:3950
RESIST2:4060
STRATEGY: SELL ON RISE
 
CS GOLD (FEBRUARY) OVERVIEW:                        
TREND  MIXED TO BULLISH
SUP1:26300
SUP2:26050
RESIST1:26800
RESIST2:27150
STRATEGY: SELL ON RISE
 
CS SILVER (MARCH) OVERVIEW:
TREND CONSOLIDATE
SUP1:36450
SUP2:36100               
RESIST1:37150
RESIST2:37550     
STRATEGY:  SELL ON RISE

Commodity Market News-08 Dec 2014

Gold Prices plummeted by Rs 195 to Rs 26,675 per 10 grams at the bullion market in the national capital today due to a weakening trend overseas.

Silver followed suit and ended lower by Rs 200 to Rs 36,700 per kg on lack of buying support from industrial units and coin makers.

Copper Prices moved up by Rs 1.05, or 0.26%, to Rs 404.45 per kg in futures trade today.

Crude Palm Oil Prices rose by Rs 2.50 or 0.58% to Rs 430.50 per 10 kg in futures trading today, largely in tandem with a firming trend at spot markets on good demand.

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