Commodity Reports

THIS WEEK RANGES FROM PROCOMMODITY REPORT 1st TO 6th DECEMBER 2008:-

U.S
GOLD 790$-888$
SILVER 9.80$ - 11.20$
COPPER 1.57$-1.85$
CRUDE OIL 51$- 65.60$

MCX
GOLD 12300-12640,12900,13090,13220 ,13750
SILVER 16550-16850,17775,18050,18255,18560
COPPER 183-189,193.60,195,199,202
CRUDE OIL 2558-2638,2680,2757,2798,2850.

AGRI
CARDAMOM :-547-555,585,593,604,618,638,648.
KAPAS :- 477-480,482,485,495,502
Kapas khalli :-487- 494,511,529,536.
Menthaoil :- 450-,462 472,483,505,525,534

LAST WEEK REVIEW:-
As We told last week bullions and agri market closed higher compare to the previous week

NOTE :

1. We are bullish in bullions and agri buy on support
2. Expecting copper range bound 186- 195 once it breaks 197 and settles it can test 202 in the coming days stop loss sugested was 183.30
3. Expecting zinc in the ranges of 57.50 -63 once it breaks 63 and settles can test 67.50in coming days stop loss suggested was 56.80 moreover fundamentals also favoring it read those news below.
4. Expecting nickel in the ranges of 503-534 once it breaks 534 and settles can test 550 in coming days stop loss suggested was 494 moreover fundamentals also favoring it read those news below

Retail survey fails to lift economic gloom
Retail sales showed some resilience in October but continued house price falls and the threat of more shockwaves from the financial crisis gave little reason for cheer.
The Confederation of British Industry's retail sales balance stayed at -27 in October, wrongfooting analysts who had forecast a slide to -35 and holding well above August's series low of -46

Be it ever so humble
Cash-strapped consumers embrace 'home for the holidays'
Motor club AAA is forecasting the first drop in Thanksgiving holiday traveling since 2002. Approximately 41 million Americans will travel 50 miles or more from home during the Thanksgiving weekend. That's equivalent to 1.4%, or 600,000 travelers, fewer than last year. Moreover, this is the fourth straight holiday this year.

Public finances deteriorate sharply
The budget deficit swelled to its largest in at least 60 years in the six months to September, and analysts say the government coffers look set to deteriorate further as the economy slows.
Chancellor Alistair Darling's forecast for a full-year deficit of 43 billion pounds now looks very optimistic, but he has said borrowing will need to rise to boost the economy, which is nearing its first recession since the early 1990s

Gold Has Biggest Monthly Gain in Nine Years on Demand for Haven
Gold prices rose in New York, capping the biggest monthly increase in nine years, on demand for a haven following terrorist attacks in India. Platinum had the biggest weekly gain since May

South African gold production continues to plunge
The South African Chamber of Mines reports that South Africa's fall from its world No. 1 gold producer status, which, according to most figures occurred last year in favour of China, continues as a number of factors have already made this a difficult year and output continues to fall.
According to the Chamber, South Africa's total gold production in the third quarter decreased by 2.1% to 55,725 kilograms (1.79 million ounces) when compared to the second quarter of 2008 - which itself showed a sharp decline from a year earlier. This suggests that South Africa's full year output could be as much as 1 million ounces lower this year than last

China looks at buying 'cheap' base metals as strategic reserve.
China is looking at buying base metals as state or commercial reserves to take advantage of the lowest prices for years and bolster weak demand, industry sources said on Friday.
They said Beijing may be considering at least two proposals -- one for all base metals and another just for copper and aluminium. The metals could be purchased by the State Reserve Bureau (SRB) or commercial entities controlled by the government.
"The proposal was for all base metals," an analyst at a state research unit said, without giving details.
But a senior executive at a large aluminium smelter said the Ministry of Industry and Information Technology had proposed the government increase state copper and aluminium reserves. He did not provide proposed tonnages or timing.
A sales manager at an aluminium smelter said he had heard that the proposal advocated the government use 20-30 billion yuan ($2.93 billion-$4.39 billion) to buy up base metals for its reserves

Recession reports - Nyrstar halts zinc output at Balen
Nyrstar said that it would temporarily suspend production and initiate a care and maintenance program at its Balen plant due to poor economic circumstances. Nyrstar said that the program, which will take place before year end was needed to address the sudden decline in customer demand and reduce the accumulation of surplus zinc stocks in the market.Nyrstar also said that the suspension would minimize losses at the plant which have been caused by the low price of zinc, down 58% from its 2008 peak combined with Balen's high energy and production costs. Balen currently has the highest labor cost across the Nyrstar Group and its energy cost has increased by more than 50% in the last 12 months

Nickel
Mr Alwin Syah Loebis president director of PT Aneka Tambang said that it cuts its production target by almost 30% to 12,000 tonnes for 2009 on lower demand. He added that global consumption of nickel would go below 1 million tonnes in 2009 from 1 million tonnes in 2008, in particular because of the forecast reduction in world economic growth.

Mentha oil
Mentha oil futures on Multi Commodity Exchange (MCX) has advanced on follow-through buying and positive cues from spot market. Good demand is being witnessed in the spot market amid restricted supply. A major exporter is reported to be active in the market.

The most active Mentha oil has surged by Rs 7.30 to trade at Rs 514.20 a kg with volume of 69 lots. December Mentha oil has gained Rs 7.70 to Rs 520.50 a kg and January Mentha oil has improved by Rs 0.80 to Rs 513.60 per kg. Volumes in December and January are 159 and 31 lots respectively.

Data to watch

On Monday
The Institute for Supply Management will release its manufacturing survey for November. Construction spending figures for October will also be released.

Tuesday
U.S. auto sales while Wednesday will bring the November ADP employment survey of the private sector, productivity figures for the third quarter and the ISM's November survey of the service sector of the economy.

Wednesday
The Fed is expected to release its Beige Book of economic conditions, which is "likely to paint an even bleaker picture than the October report," as it captured a near seizure in credit markets "and the resulting knock-out punch to consumers and businesses," said Sal Guatieri, senior economist at BMO Capital Markets.

Thursday
weekly jobless claims. Federal Reserve Chairman Ben Bernanke is also expected to speak on housing at a Fed conference in Washington.
Also on tap, the European Central Bank and the Bank of England are expected on Thursday to make decisions on interest rates.

Friday
The jobs report. BMO Capital expects the economy to have shed 350,000 jobs in November, and the unemployment rate to have risen to 6.8%, from 6.5% in October

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SOURCE: reuters.co.uk., marketwatch.com ,minesweb.com.

Disclaimer:The views mentined here are based on the historiacal price and news . we will not be responsible for any loss incured in trading at these levels .we recommend to consult with the financial advisor/broker for trading. All future trading entail significant risk, which should be fully understood prior trading.

Commodity Report

THIS WEEK RANGES FROM PROCOMMODITY REPORT 22nd TO 29th NOVEMBER 2008:-

GOLD 761$-848$
SILVER 8.80$ - 11.20$
COPPER 148$-185$
CRUDE OIL 43.60$- 65.60$

MCX
GOLD 11850-12020,12300,12640,12900,13090,13220 ,13750
SILVER 15860-16255 ,16550, 16850,17775,18050,18255,18560
COPPER 170-183,189,195,199,202
CRUDE OIL 2380-2457,2558,2638,2680,2757,2850.

AGRI
CARDAMOM :-547-555,585,593,604,618,638,648.
KAPAS :- 472.5 -477,480,482,485,495,502
Kapas khalli :-473- 482.5,487, 494,511,529.
Menthaoil :- 420-440,450,462 472
NOTE :
we expect bullions and agri bullish this week buy at support
Bullish in zinc buy at the support 57.20-59.50,61,63.50,64.75

News.

Mortgage lending falls sharply in September.
Gross mortgage lending fell 10 percent in September to the lowest level for any month since January 2005, hit by weak demand and the global financial crisis, the Council of Mortgage Lenders said on Monday.Banks and building societies loaned 17.7 billion pounds in September, down 42 percent from the same month last year. It was the lowest gross lending figure for September since 2001, the council said.
"The mortgage market is open for business," CML Director General Michael Coogan said in a statement. "But weakening consumer demand and ongoing funding restraints will dampen monthly lending figures for the rest of this year and into the first quarter of 2009."
The gross lending figure for 2008 is expected to be around 255 billion pounds, compared to 363 billion pounds last year, he added.

Home sales hit lowest in 30 years
House prices fell slightly less sharply in the three months to October than in the three months to September, a survey showed on Tuesday, but home sales hit the lowest in at least 30 years.
The Royal Institution of Chartered Surveyors (RICS) said its house prices balance rose to -81.8 last month from -84.5 in September, above forecasts for a decline to -85.6, but still indicative of widespread declines in prices and a very weak housing market.

Unemployment posts biggest rise since 1991
Unemployment shot up at its fastest pace since the early 1990s recession this summer and experts are predicting even bigger rises ahead as the financial crisis takes it toll on companies right across the economy.The Office for National Statistics said on Wednesday the ILO measure of unemployment rose by 164,000 in the three months to August, even before the year-old credit crunch tightened its grip in the last month.That took the jobless rate up half a percentage point to 5.7 percent, also its biggest jump since July 1991.

Inflation falls at record pace to 4.5 pct
Tumbling petrol prices pushed annual consumer price inflation down for the first time in more than a year in October and at the fastest pace since the series began in 1997, official data showed on Tuesday.The Office for National Statistics said consumer price inflation dropped to 4.5 percent year-on-year in October from 5.2 percent the previous month, taking it to its lowest level since July. Analysts had forecast a more modest drop to 4.8 percent.

House sales at 30-year low
The decline in house prices accelerated in September and sales fell to the lowest level in at least 30 years, a survey showed on Tuesday, in a sign the housing market slump may have some way to go yet.The Royal Institution of Chartered Surveyors said its house balance fell to -84.2 last month from -81.8 in August, broadly in line with economists' forecasts.
The balance had shown some improvement in recent months after hitting a series low in April but RICS said market conditions had now deteriorated to their loosest since the housing market crash of the early 1990

US STOCKS-Wall St rebounds on reported Treasury nomination
U.S. stocks surged on Friday to cap another volatile week as investors greeted with relief reports that President-elect Barack Obama has chosen his point person to combat the U.S. economic crisis, lifting a major uncertainty from markets.
Stocks limped into the day after a back-to-back pummeling that had left the S&P 500 at an 11-year low, and spent most of the day drifting in and out of positive territory. They shot higher around 3 p.m. when NBC news reported that Timothy Geithner, president of the Federal Reserve Bank of New York, would be nominated as U.S. Treasury secretary.

Obama says drafting bold economic stimulus
U.S. President-elect Barack Obama said on Saturday that he was crafting an aggressive, two-year stimulus plan to revive the troubled economy, warning that swift action was needed to prevent a deep slump and a spiral of falling prices.
"If we don't act swiftly and boldly, most experts now believe that we could lose millions of jobs next year," Obama said in prepared remarks for the weekly Democratic radio and video address.

SOURCE: reuters.co.uk
Disclaimer:
The views mentined here are based on the historiacal price and news . we will not be responsible for any loss incured in trading at these levels .we recommend to consult with the financial advisor/broker for trading. All future trading entail significant risk, which should be fully understood prior trading.

Commodity Report

THIS WEEK RANGES FROM PROCOMMODITY REPORT 17TH TO 22ND NOVEMBER 2008:-
GOLD 680$-828$
SILVER 8.20$ - 11.20$
COPPER 148$-197$
CRUDE OIL 51.60$- 65.60$

MCX
GOLD 11430-11580,11730,11850,12300
SILVER 15860-16255 ,16550, 16850,17775
COPPER 170-183,189,195,199,202
CRUDE OIL 2680-2757,2858,2938,2995,3020

AGRI
CARDAMOM 555-585,593,604,618,638,648
NOTE :

1. we expect bullions and base metals bullish this week buy at support
2. Bullish in zinc buy at the support 56.20-57.20,59.50,61,63.50

News.
World leaders urge fast action on financial crisis
World leaders pledged rapid action on Saturday to rescue a weakening global economy from the worst financial crisis in over 70 years and agreed to give emerging nations more say in running financial affairs.The Group of 20 leaders from major industrialized and developing countries set out plans to toughen oversight for major global banks, study limits on banker pay and try for a breakthrough by year end in global trade talks -- all part of a roadmap to rebuild a financial system crippled by the credit crisis.

Huludao says zinc output cut by 105,000 tonnes
Huludao Zinc Industry Co. Ltd 000751.SZ, the second-biggest zinc firm by capacity in China, has halted 105,000 tonnes of production capacity, or 27 percent of its total, it said in a statement on Friday.
The firm was responding to a Reuters report of Nov. 6 that it had cut production by more than half.
In a statement in Chinese, faxed to Reuters, the Liaoning province-headquartered firm said that it had stopped 65,000 tonnes of production at a plant with 200,000-tonnes annual capacity and 40,000 tonnes of annual capacity at a 130,000-tonne facility, without providing a reason.
It said the production at another 60,000-tonne facility was basically normal.

Mortgage lending falls sharply in September
Gross mortgage lending fell 10 percent in September to the lowest level for any month since January 2005, hit by weak demand and the global financial crisis, the Council of Mortgage Lenders said on Monday.
Banks and building societies loaned 17.7 billion pounds in September, down 42 percent from the same month last year. It was the lowest gross lending figure for September since 2001.

Home sales hit lowest in 30 years
House prices fell slightly less sharply in the three months to October than in the three months to September, a survey showed on Tuesday, but home sales hit the lowest in at least 30 years.
House prices fell slightly less sharply in the three months to October than in the three months to September, a survey showed on Tuesday, but home sales hit the lowest in at least 30 years.
UK economy to shrink in 2009 as recession bites
The UK is already in the grip of a recession and the economy will shrink in 2009 even though the Bank of England will slash interest rates further following the coordinated cuts by major central banks, a Reuters poll found.
The quarterly poll, conducted on October 9-16, found 23 of 24 economists said the UK was in recession. But they were split on how bad it would be compared with past recessions, with 8 saying it would be shallower, 7 average, and 6 deeper.

Unemployment posts biggest rise since 1991
Unemployment shot up at its fastest pace since the early 1990s recession this summer and experts are predicting even bigger rises ahead as the financial crisis takes it toll on companies right across the economy
The Office for National Statistics said on Wednesday the ILO measure of unemployment rose by 164,000 in the three months to August, even before the year-old credit crunch tightened its grip in the last month .That took the jobless rate up half a percentage point to 5.7 percent, also its biggest jump since July 1991.
"Given that the economy stagnated in the second quarter and is set to contract into 2009, the deterioration in labour market trends is likely to intensify. Our forecast is for the unemployment rate to peak at 7.9 percent in Q1 2010," said Ross Walker, economist at RBS.
The Bank of England has already cut interest rates by 50 basis points to 4.5 percent in a move coordinated with other central banks last week and analysts say further cuts must be a done deal as inflation has probably peaked and the economy is slowing sharply.
Policymakers' fears that high headline inflation would force wages higher and cause inflation to stay above target for longer now also look unfounded.

Inflation hits 16-year high
Inflation hit a 16-year high of 5.2 percent in September, but that is likely to be the peak and interest rates are still expected to come down sharply over the next few months in order to prevent a deep recession.
The Office for National Statistics said on Tuesday rocketing utility bills pushed inflation higher by half a percentage point in September to way more than double the central bank's 2 percent target. Analysts had predicted a rise to 5 percent.
Bank of England policymakers had already factored in the latest jump when they cut interest rates by half a percentage point last week in an emergency move last week to shore up the economy in the face of a global financial crisis.
They are worried the economic outlook has got a lot worse over the last month and two separate surveys on Tuesday showed house prices falling faster in September and retail sales posting an annual fall for a fourth straight month.
Analysts expect interest rates to come down from their current 4.5 percent very, especially as lower oil prices should mean inflation will fall sharply.
"September's figure will be the peak in inflation and the key issue now is just how far it will drop back as the food and energy effects which have pushed it up so sharply finally fade or go into reverse," said Jonathan Loynes, chief European economist at Capital Economics.
"Needless to say, steep falls in inflation will help to restore households' spending power and allow the Monetary Policy Committee to cut interest rates very sharply. We continue to expect rates to drop to 2.5 percent or less."

Wall St Week Ahead: Weak stocks face earnings and CPI
Wall Street will struggle to avoid a third straight week of losses next week as investors face another flood of earnings and data, including PPI and CPI, that are likely to signal a prolonged economic slowdown.
Encouraging news will probably be in short supply.
Hopes for a bailout of General Motors fading as lawmakers hint that the legislation is unlikely to pass. Expectations are low that world leaders meeting in Washington over the weekend will deliver a concrete set of plans to combat the worst financial crisis in 80 years.
The Group of 20 meeting, which kicked off Friday night, comes on the heels of another grueling week.
For the week, the Dow Jones industrial average .DJI fell 5 percent, the Standard & Poor's 500 Index .SPX dropped 6.2 percent and the Nasdaq Composite Index .lost 7.9 percent.
With November almost half over, the Dow has lost nearly 828 points, or 8.9 percent so far, while the S&P 500 has dropped almost 96 points, or 9.9 percent, and the Nasdaq has fallen about 204 points, or 11.9 percent. For the year to date

US STOCKS-Dow and S&P turn positive, led by energy
The Dow and the S&P 500 turned positive on Friday, as gains in the energy sector overshadowed a record drop in retail sales last month.The Nasdaq cut losses, but was still lower.The Dow Jones industrial average .DJI was up 48.91 points, or 0.55 percent, at 8,883.36. The Standard & Poor's 500 Index .SPX was up 1.99 points, or 0.22 percent, at 913.28. The Nasdaq Composite Index .was down 14.47 points, or 0.91 percent, at 1,582.23 -- off its session low at 1,519.17. (Reporting by Kristina Cooke; Editing by Jan Paschal

Obama and Clinton discussed job.
U.S. Sen. Hillary Clinton left the door open to becoming secretary of state on Friday, a day after a meeting with President-elect Barack Obama at which a Democratic official said they discussed the job.
Obama's selection of Clinton would be a bold move that would bring into his coming administration a high-profile former rival who had questioned his level of experience and his foreign policy ideas in the Democratic primary battle earlier this year.
In introductory remarks at a speech in Albany, New York, Clinton, wife of former President Bill Clinton, did not confirm or deny that she had a secret meeting with Obama on Thursday. Democratic officials said the meeting did take place.
"I'm not going to speculate or address anything about the president-elect's incoming administration. And I am going to respect his process and any inquiries should be directed to his transition team," Clinton said.
SOURCE: reuters.co.uk
Disclaimer:
The views mentined here are based on the historiacal price and news . we will not be responsible for any loss incured in trading at these levels .we recommend to consult with the financial advisor/broker for trading. All future trading entail significant risk, which should be fully understood prior trading.

GOld(us)
Buy 754 target 768 stop loss 747
mcx Buy 11690 target 11783 stop loss 11570
silver (Us) Buy 10.19 target 10.34 stop loss 10.11
mcx Buy 16960 target 17145 stop loss 16900
Crude (Us) Sell 68.20 target 66.25 stop loss 69.25
mcx sell 3270 target 3211 stop loss 3300
Copper : Mcx Buy 199 target 207 stop loss 195
Natural Gas :Mcx Sell 341 target 334 stop loss 344.5
Lead: mcx Sell 72.45 target 71.10 stop loss 73.20
nickelmcx sell 601 target 586 stop loss 606
news:
Crude oil fell in New York as investors judged yesterday's 10 percent gain excessive, and on forecasts that a government report will show U.S. crude inventories swelling as demand ebbs.
U.S. crude-oil inventories probably increased for a sixth week because of declining demand, a Bloomberg News survey before today's Energy
Source :blomberg.com