Commodity Report

THIS WEEK RANGES FROM PROCOMMODITY REPORT 15 th TO 20th DECEMBER 2008:-

INTERNATIONAL
GOLD 780$-850$
SILVER 9.20$ - 11.20$
COPPER 1.27$-1.75$
CRUDE OIL 39.60$- 55.60$

MCX
GOLD 12300-12640,12900,13090,13220 ,13750 .
SILVER 16550-16850,17775,18050,18255,18560.
COPPER 157 -161.30,164.50,169.50,171,175.60,181,183.
CRUDE OIL 2222-2295,2340,2450,2558,2638,2680,2757,2798,2850.

AGRI
CARDAMOM :- 547-555,585,593,604,618,638,648.
KAPAS :- 470-475,480,482,485,495,502 .
Kapas khalli :- 477- 487,494,511,529,536,550.
Menthaoil :- 450-,462 472,483,505,525,534.

LAST WEEK REVIEW:-
As We told last week most of the Technical call achieved their targets in Bullions, Basemetals and Agri market.

Technical Calls:
INTERNATIONAL
Gold Buy 800$-808$ Stp 789,1T1- 818,T2-830.
Silver Buy 9.70 -9.80 Stp 9.35, T1-10.20,T2-10.60,T3-11.
Crude Buy a 44.20-45.20 Stop loss 42.50, T1 -47, T2 -49, T3-50.200.

MCX
Silver Buy17020-17180 Stop loss 16850 T1-17460 T2-17530 T3-17750.
Nickel Sell 548-555 Stop loss 563 T1 - 530 , T2 – 515.
Aluminium Buy above 74.20 Stop loss 72.30 T1 – 75.60 , T2 – 77.30.
Lead Buy above 50.90 Stop loss 48.70 T1 – 52.20 , T2 – 55.40.
Copper Buy above 167.50 Stop loss 161.70 T1 – 171.20, T2 – 174.40 T3-81 .
Crude Buy 2290- 2335 Stop loss 2219 T1 – 2490, T2 – 2522, T3 - 2650.

Agri
Kapas Sell 483- 485 Stop loss 493.50 T1 - 477, T2 - 473.
Kapaskhalli Sell 439-444 Stop loss 452.50 T1 - 430, T2 – 424.
Menthaoil Sell 537 -542 Stop loss 552 T1 - 521, T2 -514, T3-509.
Cardamom Sell 578-585 Stop loss 590 T1 - 562 , T2 – 555.

NEWS:-
U.S. bailout fund's purpose shifts as woes mount
It began as a taxpayer-financed fund to buy so-called toxic assets, shifted to one that injects capital into distressed banks, and is now veering toward propping up ailing U.S. automakers.The $700 billion bailout fund administered by the Treasury Department has changed direction roughly in tandem with the economy's deepening woes.

Bank of America to cut up to 35,000 jobs.
Bank of America Corp said on Thursday it plans to eliminate 30,000 to 35,000 jobs over three years, reflecting its pending purchase of Merrill Lynch & Co and weaker business activity stemming from the economic recession.The cuts could affect as much as 11.4 percent of the combined companies' workforce of about 308,000 people, and are intended to help save $7 billion of annual costs.

Treasury sees TARP funds for financial sector . After the U.S. Senate failed late on Thursday night to reach a last-ditch compromise to help troubled U.S. automakers with $14 billion in bridge loans, calls swelled for Treasury to tap its so-called TARP, or Troubled Asset Relief Program, funds to help the auto industry.

China faces tough challenges. China is aiming for growth of about 8 percent next year but faces a host of challenges, a top official said on Saturday, as Premier Wen Jiabao agreed to beef up cooperation with North Asian counterparts to fight the global crisis. China has already earmarked almost $600 billion to maintain growth as the crisis, which started in the U.S. mortgage lending market last year, spreads to all parts of the globe.

Bush may tap bailout fund to aid automakers. The Bush administration said on Friday it could be willing to provide emergency aid to the teetering U.S. auto industry, keeping open the prospects for a bailout the day after Congress failed to approve a deal.Warning of dire consequences for the recession-hit U.S. economy if the once-mighty automakers collapsed, the White House in a reversal of policy said it was ready to consider dipping into a $700 billion Wall Street bailout fund to help keep the companies afloat.

Retail sales drop for 5th month. Sales at U.S. retailers fell for a fifth straight month in November, the longest decline in at least 16 years, as gasoline sales tumbled by a record amount, according to government data on Friday.

Homelessness rising as economy slides. Homelessness and demand for emergency food are rising in the United States as the economy founders, a report said on Friday. A survey by the U.S. Conference of Mayors showed that 19 of 25 cities saw an increase in homelessness in the 12 months to October, while four reported a drop and two cities lacked enough data for conclusive results.

Consumers' mood improves on massive price drops. Consumer sentiment improved this month helped by falling gasoline prices, retail discounts and "tumbling" inflation expectations, but pessimism over the future tempered their enthusiasm, a survey showed on Friday

Grim data points to deep recession. The outlook for the economy darkened on Thursday with news of a sharp contraction in manufacturing and construction orders, plunging price expectations and dire warnings from retailers pointing to a long and painful recession ahead.

Good news for Market.
All eyes on the Fed
Federal Reserve policymakers meet for two days with the markets expecting another cut in interest rates again at the end of a two-day policy meeting next Tuesday and could be on the road to zero At the moment, the federal funds rate stands at 1%. Since October, the Fed has slashed target lending rates by 50%. That followed a series of earlier rate cuts that brought the funds rate down from 5.25% in September 2007.

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