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