Commodity Report

THIS WEEK RANGES FROM PROCOMMODITY REPORT 22nd TO 27th DECEMBER 2008:-

INTERNATIONAL
GOLD 748$-850$
SILVER 9.20$ - 11.20$
COPPER 1.27$-1.75$
CRUDE OIL 32.60$- 45$

MCX
GOLD 11850-12020,12300,12640,12900,13090,13220 ,13750.
SILVER 15860-16255 ,16550, 16850,17775,18050,18255,18560.
COPPER 139-143,149,155,159,162,167.
CRUDE OIL 1950-2026,2057,2128,21258,2280,2357.

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:- Most of Our Technical call achieved their targets in Bullions, and Agri market.

Technical Calls:
INTERNATIONAL
Gold Sell 837$-843$ Stp 849.80,T1- 820,T2-811.
Silver Sell 10.99-11.08 Stp 11.26, T1-10.67,T2-10.48,T3-10.30.
Copper Buy 129-130 Stp 126.30,T1 - 136 ,T2 -140, T3 -145

MCX
Gold Sell 12800-12830 Stop loss 12956 T1 – 12655, T2-12560 , T3-12480.
Silver Sell 17650-17750 Stop loss 18167 T1-17370 T2-17290 T3-17150.
Nickel Buy 465-472 Stop loss 453 T1 – 483 , T2 – 494, T3-502.
Aluminium Buy 68.80-70.50 Stop loss 67.40 T1 – 71.60 , T2 – 72.55.
Copper Buy 140.80 -142.30 Stop loss 137.60 T1 – 144.50, T2 – 147.50 T3-152.30 .

Agri
Cardamom Sell 544-551 Stop loss 556 T1 - 537 , T2 – 530.

NEWS:-
Copper:
Zambia's troubled Luanshya Copper Mine (LCM) has halted operations and will only restart if the price of Copper rises, the firm's chief executive officer Derek Webbstock said on Saturday.Copper is Zambia's biggest export and the mines, which are a major employer, are struggling with a fall in global metal prices.

Bullion:
Gold prices declined further on the bullion market here on Saturday due to lack of local buying interest on the back of weak overseas advices. While silver recovered on fresh industrial demand.
Silver demand is basically driven from the industrial metals outlook. With the demand for Industrial metals taking a hit Silver has also seen troubled times since last few months.

Crude Oil:
World oil consumption next year will drop by 0.2 per cent to 85.68 million barrels a day,
OPEC said on December 15. The US Energy Department said on December 9 that global
demand will decline 0.5 per cent to 85.3 million barrels a day, the steepest decline in demand
in over a decade.

Nickel :
OZ Minerals Limited will suspend operations at its Avebury nickel mine due to low world nickel prices

Century Aluminum to cut 13 pct of salaried workers
Century Aluminum Co told 13 percent of its salaried workers on Friday that they would be laid off, two days after warning it might stop all aluminum production if the price of aluminum stays low and it could not cut costs.

Paulson Urges Release of Next $350 Billion From TARP
Treasury Secretary Henry Paulson urged Congress to release the second half of the $700 billion financial rescue fund after the government exhausted the first $350 billion in less than three months.
Congress, which passed the Troubled Asset Relief Program on Oct. 3, “will need to release the remainder of the TARP to support financial market stability,” Paulson said today in a statement released in Washington.

India Central Bank May Extend Rate Cuts Amid Slowing Inflation
India's central bank has scope to extend the steepest set of interest-rate cuts since 2000 after inflation slowed to a nine-month low,
The country's benchmark 10-year bonds yesterday completed the biggest weekly gain in at least a decade as investors speculated the central bank will add to the three interest-rate cuts of the past two months. A report this week showed inflation slowed more than economists expected, to 6.84 percent in the first week of December.

Trichet Says Deposit-Rate Cut May Help Revive Lending
European Central Bank President Jean- Claude Trichet said financial companies may begin lending more to each other after policy makers made it less attractive to turn to them for support.
The ECB yesterday cut the interest rate it pays banks to deposit money with it overnight and lifted the rate it charges for emergency loans. The shifts were the latest effort by the central bank to jolt risk-averse banks into freeing up credit as the euro area’s recession deepens.

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SOURCE: reuters.co.uk.Bloomberg.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.