Commodity Report

THIS WEEK RANGES FROM PROCOMMODITY REPORT 29th DECEMBER 2008 To 3RD JANAUARY 2009 :-

INTERNATIONAL
GOLD 802$-907$
SILVER 9.80$ - 11.60$.
COPPER 1.27$-1.75$
CRUDE OIL 32.60$- 45$

MCX
GOLD 12640-12900,13090,13220 ,13430,13520,13750,13820.
SILVER 16550 -16850,17150,17380, 17775,18050,18255,18560.
COPPER 139-143,149,155,159,162,167.
CRUDE OIL 1750-1780,1805,1855,1890,1920,2026,2057,2128,21258,2280,2357.

AGRI
CARDAMOM :- 547-555,585,593,604,618,638,648.
KAPAS :- 470-475,480,482,485,495,502 .
Kapas khalli :- 487-494,511,529,536,550565.
Menthaoil :- 450-,462 472,483,505,525,534.

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

Technical Calls:

INTERNATIONAL
Gold Buy $850-868 Stp 828,T1- 876,T2-882,T3-903.
Silver Buy 10.30-10.40 Stp 10.14, T1-10.57,T2-10.87,T3-11.04.
Copper Buy 128-130 Stp 126.30,T1 - 136 ,T2 -140, T3 -145

MCX
Gold Buy 13220 Stop loss 13090 T1 – 13330, T2-13460 , T3-13630.
Silver Buy 17040-17090 Stop loss 16885 T1-17250, T2-17450, T3-17690 .
Nickel Buy 465-472 Stop loss 453 T1 – 483 , T2 – 494, T3-502.
Aluminium Buy 70.50 Stop loss 68.40 T1 – 71.60 , T2 – 72.55, T3-74.50.
Copper Buy 140.80 -142.30 Stop loss 137.60 T1 – 144.50, T2 – 147.50 T3-152.30.
Crude Buy 17790 -1820 Stop loss 1763 T1 – 1929, T2 –2007 .

Agri
Kapas Sell 483- 485 Stop loss 49.350 T1 - 477, T2 - 473.
Kapaskhalli Sell 453-455 Stop loss 458 T1 - 445, T2 – 440,T3-433.
Potato Buy 515 -520 Stop loss 510 T1 - 529, T2 -538, T3-540.
Refinedsoya oil Buy 472-474.50 Stop loss 469.50 T1 - 478 , T2 – 486.

NEWS:-
EU calls for immediate ceasefire in Gaza.
The European Union called for an immediate cease-fire in Gaza on Saturday and backed Egyptian efforts to restore a truce and end the "disproportionate use of force.""We are very concerned at the events in Gaza. We call for an immediate cease-fire and urge everybody to exert maximum restraint.
Gold Rises Most in a Week on Middle East, South Asia Tensions
Palestinian militants yesterday launched their biggest rocket attack on southern Israel in at least six months after a truce expired Dec. 19. Pakistani troops are being diverted from tribal areas near Afghanistan to the border with India, the Associated Press reported. Gold gained 4 percent this week.
Gold, Oil Rally
“Not since 1967 is it so obvious there is going to be a war in the Middle East that will send gold and oil well past this year’s highs,”Gold, up 4 percent this year, is the only metal poised for an annual gain. Bullion may attract investors seeking a store of value as the dollar weakens and yields on short-term U.S. Treasury notes fall below zero.

Retailers' holiday sales plummet 4 percent
Retailers' sales fell as much as 4 percent during the holiday season, as the weak economy and bad weather created one of the worst holiday shopping climates in modern times.

Japan industrial output logs record fall
Export-reliant Asian economies showed more signs of weakness on Friday, with Japan's industrial output diving at a record pace and South Korea warning it faces an "unprecedented crisis" as global demand wilts. Even the once unstoppable Chinese economy is feeling the strain, with companies recording a sharp slowdown in profit growth in the first 11 months of the year.

Obama's Economic team
President-elect Barack Obama moved swiftly toward wrapping up his cabinet appointments with the selection of rival-turned-supporter Bill Richardson as secretary of commerce

Commerce Secretary
New Mexico Gov. Bill Richardson, a former United Nations ambassador and energy secretary during President Bill Clinton's administration, had been an early supporter of Obama after dropping his own presidential ambitions.The commerce secretary is seen as the voice of the U.S. business community in the White House and is tasked with promoting U.S. business interests overseas.
Treasury Secretary
Timothy Geithner, president of the New York Federal Reserve Bank, is Obama's choice for the Treasury Department, making him Obama's point person in dealing with the economic crisis.Geithner has helped to lead efforts to stabilize financial markets and argued that banks crucial to the global financial system should operate under a unified regulatory framework.

National Economic Council
Lawrence Summers, 53, was Treasury secretary for the final 1-1/2 years of the Clinton administration and has been a senior adviser to Obama for several months, helping to guide his response to the financial meltdown.Professor at Harvard at 28 and was later president of the university, where his abrasive style made many enemies and he resigned in 2006. He had been seen as Geithner's main competition for the job of Treasury chief.

Economic Recovery Advisory Panel
Paul Volcker, the former head of the Federal Reserve, was named to head this new group. Volcker, who is credited with taming inflation a generation ago, will provide advice on steering the United States out of recession and stabilizing financial markets.

Secretary Of Health And Human Services
Tom Daschle, a key early supporter and savvy former U.S. Senate leader, will be the top official spearheading Obama's effort to overhaul the U.S. health care system. The high-profile pick signals that the push to extend health coverage to the 46 million uninsured Americans be a high priority for Obama.

Crude Oil Rises More Than 6 Percent as U.A.E. Reduces Output
Abu Dhabi National Oil Co., the biggest producer in the U.A.E., will reduce oil supply to Asia in January and February, according to a statement sent to buyers. OPEC agreed to a record production cut on Dec. 17 in response to collapsing demand because of the economic slowdown. Oil also advanced because the dollar dropped against the euro.

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SOURCE: reuters.co.uk.Bloomberg.com.

Disclaimer: The views mentioned here are based on the historical 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.