COMMODITY REPORT

THIS WEEK RANGES FROM PROCOMMODITY REPORT 8 th TO 13th DECEMBER 2008:-

INTERNATIONAL
GOLD 680$-816$
SILVER 8.80$ - 10.20$
COPPER 1.27$-1.75$
CRUDE OIL 36$- 55.60$

MCX
GOLD 11580-11730,11850,12020,12300,12640,12900,13090.
SILVER 15860-16255 ,16550, 16850,17775,17890,18050.
COPPER 157 -161.30,164.50,169.50,171,175.60,181,183.
CRUDE OIL 1950-2050,2087,2160,2222,2295,2340,2450.

AGRI
CARDAMOM :- 547-555,585,593,604,618,638,648.
KAPAS :- 477-480,482,485,495,502
Kapas khalli :- 487- 494,511,529,536,550.
Menthaoil :- 450-,462 472,483,505,525,534.

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

Technical Calls:
INTERNATIONAL
Gold Buy above 766$ -788,804
Silver Buy above 9.65 -9.90, 1020.
Crude Buy above 41.80- 42.60, 43.70,45.20

MCX
Nickel Buy above 468 Stop loss 447.30 T1 - 498 , T2 – 513.
Aluminium Buy above 75.70 Stop loss 73.40 T1 – 80 , T2 – 82.
Lead Buy above 50.30 Stop loss 4 8.20 T1 – 51.60 , T2 – 53.90.
Copper Buy above 164.50 Stop loss 161.70 T1 – 169.50, T2 – 174.40.
Crude Buy above 2168 Stop loss 2070 T1 – 2221, T2 – 2295 T3 - 2342.

Agri
Kapas Sell 495- 499 Stop loss 505 T1 - 486, T2 - 482.
Menthaoil Sell 529-536 Stop loss 543 T1 - 514, T2 -504
Cardamom Buy 580-575 Stop loss 560 T1 - 593 , T2 – 599 T3 – 608.

NEWS:-
Can BRIC nations save global economy?
Jim O’Neill is the Goldman Sachs economist who invented the BRIC acronym – shorthand for “Brazil, Russia, India, China.” Now O’Neill thinks the BRIC countries – or rather, the shoppers in these countries – will save the global economy in its great hour of need. “The BRIC consumer is going to rescue the world

Medium term outlook for Chinese copper consumption.
Most countries in the world are in recession. China is no exception; its economy has been spiralling downwards since the Olympic Games.China's copper consumption will be significantly impacted by these global developments, because some 30% of consumption is exported in one form or another, such as semis, wires & cables and copper contained in the export of finished goods. production rates will now have to be adjusted to allow for the liquidation of these surplus inventories. Copper used in consumer goods will be lower this year and next with a modest recovery in 2010.
Medium term growth is likely now to be in the 6-8% range rather than in the +10% level. The demographic profile of the country, with fewer net new entrants coming into the labour force, makes a lower growth rate socially possible.

More "world coordination" on rates needed
More international coordination of macro-economic policy is needed, Bank of England Deputy Governor John Gieve said to financial magazine Hedge Funds Review (HFR), Gieve said that what happened in the world economy was "very important to the UK" because it was exposed to international trendsHe acknowledged it was unlikely there would ever be "tight co-ordination" of macro-economic policies and no "world fiscal package," but said he thought interest rate moves like the globally coordinated 50 basis point cut in October would be more frequent in future.

GLOBAL MARKETS-Shares dive on shock U.S. payrolls data
US employers cut 533,000 jobs in November

1. World shares extend loss, down 1 pct


2. Wall Street indexes were down between 2 and 3 percent.


3. FTSE 100 closes down 2.7 percent.


4. CRB lost as much as 3.3 percent today to 210.78, the lowest since Aug. 9, 2002.


5. Gold slides, ends tad above $750 on job data.


6. Oil drops sharply, teeters just above $40 per barrel.


7. Miners also suffered following a dip in base metals prices Copper , Aluminium, Zinc, lead on there 4 years low

World share prices slid on Friday, while government bonds rose and the dollar dropped against the yen after U.S. employers axed a shocking 533,000 jobs in November for the weakest performance in 34 years.Non-farm payrolls report reflected the mounting toll of a deepening recession on the U.S. labour market.

The unemployment rate rose to 6.7 percent last month, the highest reading since 1993, widespread losses across the country's major industrial sectors.Prices for copper, which accounts for over half of Chile's exports, fell with global exchanges after the United States reported over half a million job losses in November, the sharpest monthly drop in 34 years.

Late mortgage payments and foreclosures hit record
Late mortgage payments and the rate of home loans in foreclosure rose to record highs in the third quarter, threatening to escalate as the recession erases jobs and further strains homeowners, the Mortgage Bankers Association

US factory orders fall sharply for third months.

New orders received by U.S. factories plummeted for a third straight month in October Overall factory orders plunged 5.1 percent to a seasonally adjusted $407 billion, according to a Commerce Department report. That was the biggest drop since July 2000 and more than the 4.0 percent decline that Wall Street economists had forecast. It followed a revised 3.1 percent drop in September that was previously

Some Good news for Market.
U.S. agrees on auto aid plan
Congressional Democrats and the White House have reached agreement on emergency aid for U.S. automakers of between $15 billion (10.2 billion pounds) and $17 billion, two senior congressional aides said on Friday.The outline of the package was reached after auto executives pleaded with lawmakers for help and U.S. data showed employers axed more than 533,000 jobs.

Federal Reserve Chairman Ben Bernanke is now expected ratchet down a key interest rate — near a historic low of 1 percent — by at least a half-percentage point on Dec. 16 in a bid to breathe life into the moribund economy. Bernanke is exploring other economic revival options and wants the government to step up efforts to curb home foreclosures.

Treasury Secretary Henry Paulson, whose department oversees the $700 billion financial bailout program, also is weighing new initiatives.

Obama, who takes office on Jan. 20, has called for a massive economic recovery bill to generate 2.5 million jobs over his first two years in office. House Speaker Nancy Pelosi, D-Calif., has vowed to have a package ready on Inauguration Day for Obama's signature.The measure, which could total $500 billion, would bankroll big public works projects to create jobs, provide aid to states to help with Medicaid costs, and provide money toward renewable energy development.

BoE is working on a radical plan to inject cash directly into the British economy as a last resort to reverse a slide into recession ral Reserve interest rate cut this month

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