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.