NYMEX-Crude rallies on stimulus hopes, spread play.
U.S. crude oil futures ralliedfurther Friday afternoon on hopes that passage of an economicstimulus package expected later in the day will help halt anoil demand slowdown. Spread play on the front-month March crude and the April
contract also helped pull up prices, further narrowing the
contango or the premium further months have over the the
front-month. "Those that were short March and long April are reversing
that, taking profits and getting out of that spread play before
the long weekend.
Flynn added that active trading was also seen in the Marchcontract options, which will expire on Tuesday. March crudeitself will expire on Feb. 20.
Looks like a bounce on stimulus hopes, but onlyconcentrated on the two front months. So just a slightretracement in the contango. Also, crack spreads are givingback some of the recent gains," said Tom Bentz, analyst at BNPParibas Commodity Futures Inc
Friday, February 13, 2009
Saturday, January 3, 2009
Commodity Report
THIS WEEK RANGES FROM PROCOMMODITY REPORT 5th Jan 2009 To 10th JANAUARY 2009 :-
INTERNATIONAL
GOLD 802$-909$
SILVER 10.80$ - 12.04$.
COPPER 1.35$-1.75$
CRUDE OIL 37.60$- 49.80$
MCX
GOLD 12640-12900,13090,13220 ,13430,13520,13750,13820.
SILVER 17350 -17550,17850,18150,18380, 18775,19050,19255,19560.
COPPER 141-143,149,155,159,162,167.
CRUDE OIL 2026-2057,2128,21258,2280,2357,2424,2480,2536.
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.
NEWS:-
Israeli air strike kills Hamas military leader
Israeli forces bombed the Gaza Strip from the air and sea on Saturday, killing a senior Hamas commander, and desperate residents of the Palestinian enclave sheltered in their homes as the offensive entered a second week.
Obama urges parties to work together on economy
President-elect Barack Obama on Saturday said the struggling U.S. economy could face more challenges and urged lawmakers to act quickly on recovery proposals even as some Republicans expressed concerns about plans for a huge stimulus package.
Chrysler gets $4 billion U.S. government loan
Chrysler LLC on Friday received an initial $4 billion emergency loan from the U.S. government, two days after the government completed a parallel payout to its larger rival General Motors Corp."This initial loan will allow the company to continue an orderly restructuring," Chrysler Chief Executive Bob Nardelli said in a statement.
Ford sees sharp drop in U.S. sales
Ford Motor Co expects industry-wide December U.S. auto sales to drop by some 35 percent from a year earlier with no sign of a turnaround in the first quarter of this year.
Ford, the No. 2 U.S. automaker, expects that full-year sales of light vehicles in the world's largest market will drop to near 13.2 million for 2008, down from near 16.2 million in 2007, Ford's chief sales analyst George Pipas.
U.S. governors seek $1 trillion federal assistance
Governors of five U.S. states urged the federal government to provide $1 trillion in aid to the country's 50 states to help pay for education, welfare and infrastructure as states struggle with steep budget deficits amid a deepening recession.
The governors of New York, New Jersey, Massachusetts, Ohio and Wisconsin -- all Democrats -- said the initiative for the two-year aid package was backed by other governors and follows a meeting in December where governors called on President-elect Barack Obama to help them maintain services in the face of slumping revenues
IMPORTANT NOTE:
To Receive Daily Premium updates free of cost
Contact us at:- Procon Advisory Services India ( P) ltd .
58/1.Frst Foor , Tamil sangam road ,
Madurai 625001
Email:proconmadurai@gmail.com
PH:-0452- 4246135
MOB:-09994988433
http://www.indiaprocon.com/
Procon Advisory Services India (P) ltd
G-13 Swarna Jayanthi Complex,
East Block, Ameerpet,
Hyderabad- 500016.
Email:-proconhyderabad@gmail.com
PH: - 040-40037124 MOB:-09949169279
http://www.indiaprocon.com/
SOURCE: reuters.co.uk.Bloomberg.com.
Disclaimer: The views mentioned here are based on the historical price and news . we will not be responsible for any loss incured in trading at these levels .we recommend to consult with the financial advisor/broker for trading. All future trading entail significant risk, which should be fully understood prior trading.
INTERNATIONAL
GOLD 802$-909$
SILVER 10.80$ - 12.04$.
COPPER 1.35$-1.75$
CRUDE OIL 37.60$- 49.80$
MCX
GOLD 12640-12900,13090,13220 ,13430,13520,13750,13820.
SILVER 17350 -17550,17850,18150,18380, 18775,19050,19255,19560.
COPPER 141-143,149,155,159,162,167.
CRUDE OIL 2026-2057,2128,21258,2280,2357,2424,2480,2536.
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.
NEWS:-
Israeli air strike kills Hamas military leader
Israeli forces bombed the Gaza Strip from the air and sea on Saturday, killing a senior Hamas commander, and desperate residents of the Palestinian enclave sheltered in their homes as the offensive entered a second week.
Obama urges parties to work together on economy
President-elect Barack Obama on Saturday said the struggling U.S. economy could face more challenges and urged lawmakers to act quickly on recovery proposals even as some Republicans expressed concerns about plans for a huge stimulus package.
Chrysler gets $4 billion U.S. government loan
Chrysler LLC on Friday received an initial $4 billion emergency loan from the U.S. government, two days after the government completed a parallel payout to its larger rival General Motors Corp."This initial loan will allow the company to continue an orderly restructuring," Chrysler Chief Executive Bob Nardelli said in a statement.
Ford sees sharp drop in U.S. sales
Ford Motor Co expects industry-wide December U.S. auto sales to drop by some 35 percent from a year earlier with no sign of a turnaround in the first quarter of this year.
Ford, the No. 2 U.S. automaker, expects that full-year sales of light vehicles in the world's largest market will drop to near 13.2 million for 2008, down from near 16.2 million in 2007, Ford's chief sales analyst George Pipas.
U.S. governors seek $1 trillion federal assistance
Governors of five U.S. states urged the federal government to provide $1 trillion in aid to the country's 50 states to help pay for education, welfare and infrastructure as states struggle with steep budget deficits amid a deepening recession.
The governors of New York, New Jersey, Massachusetts, Ohio and Wisconsin -- all Democrats -- said the initiative for the two-year aid package was backed by other governors and follows a meeting in December where governors called on President-elect Barack Obama to help them maintain services in the face of slumping revenues
IMPORTANT NOTE:
To Receive Daily Premium updates free of cost
Contact us at:- Procon Advisory Services India ( P) ltd .
58/1.Frst Foor , Tamil sangam road ,
Madurai 625001
Email:proconmadurai@gmail.com
PH:-0452- 4246135
MOB:-09994988433
http://www.indiaprocon.com/
Procon Advisory Services India (P) ltd
G-13 Swarna Jayanthi Complex,
East Block, Ameerpet,
Hyderabad- 500016.
Email:-proconhyderabad@gmail.com
PH: - 040-40037124 MOB:-09949169279
http://www.indiaprocon.com/
SOURCE: reuters.co.uk.Bloomberg.com.
Disclaimer: The views mentioned here are based on the historical price and news . we will not be responsible for any loss incured in trading at these levels .we recommend to consult with the financial advisor/broker for trading. All future trading entail significant risk, which should be fully understood prior trading.
Saturday, December 27, 2008
Commodity Report
THIS WEEK RANGES FROM PROCOMMODITY REPORT 29th DECEMBER 2008 To 3RD JANAUARY 2009 :-
INTERNATIONAL
GOLD 802$-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.
IMPORTANT NOTE:
To Receive Daily Premium updates free of cost
Contact us at:-
Procon Advisory Services India ( P) ltd .
58/1.Frst Foor , Tamil sangam road ,
Madurai 625001
Email:proconmadurai@gmail.com
PH:-0452- 4246135
MOB:-09994988433
http://www.indiaprocon.com/
Procon Advisory Services India (P) ltd
G-13 Swarna Jayanthi Complex,
East Block, Ameerpet,
Hyderabad- 500016.
Email:-proconhyderabad@gmail.com
PH: - 040-40037124
MOB:-09949169279
http://www.indiaprocon.com/.
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.
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.
IMPORTANT NOTE:
To Receive Daily Premium updates free of cost
Contact us at:-
Procon Advisory Services India ( P) ltd .
58/1.Frst Foor , Tamil sangam road ,
Madurai 625001
Email:proconmadurai@gmail.com
PH:-0452- 4246135
MOB:-09994988433
http://www.indiaprocon.com/
Procon Advisory Services India (P) ltd
G-13 Swarna Jayanthi Complex,
East Block, Ameerpet,
Hyderabad- 500016.
Email:-proconhyderabad@gmail.com
PH: - 040-40037124
MOB:-09949169279
http://www.indiaprocon.com/.
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.
Saturday, December 20, 2008
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.
IMPORTANT NOTE:
To Receive Daily Premium updates free of cost
Contact us at:-
Procon Advisory Services India ( P) ltd .
58/1.Frst Foor , Tamil sangam road , Madurai 625001
Email:proconmadurai@gmail.com
PH:-0452- 4246135 MOB:-09994988433
http://www.indiaprocon.com/
Procon Advisory Services India (P) ltd
G-13 Swarna Jayanthi Complex,
East Block, Ameerpet, Hyderabad- 500016.
Email:-proconhyderabad@gmail.com
PH: - 040-40037124
MOB:-09949169279
http://www.indiaprocon.com/
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.
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 $350 billion in less than three months.
Congress, which passed the Troubled Asset Relief Program on Oct. 3, “will need to release the remainder of the TARP to support financial market stability,” Paulson said today in a statement released in Washington.
India Central Bank May Extend Rate Cuts Amid Slowing Inflation
India's central bank has scope to extend the steepest set of interest-rate cuts since 2000 after inflation slowed to a nine-month low,
The country's benchmark 10-year bonds yesterday completed the biggest weekly gain in at least a decade as investors speculated the central bank will add to the three interest-rate cuts of the past two months. A report this week showed inflation slowed more than economists expected, to 6.84 percent in the first week of December.
Trichet Says Deposit-Rate Cut May Help Revive Lending
European Central Bank President Jean- Claude Trichet said financial companies may begin lending more to each other after policy makers made it less attractive to turn to them for support.
The ECB yesterday cut the interest rate it pays banks to deposit money with it overnight and lifted the rate it charges for emergency loans. The shifts were the latest effort by the central bank to jolt risk-averse banks into freeing up credit as the euro area’s recession deepens.
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Procon Advisory Services India (P) ltd
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SOURCE: reuters.co.uk.Bloomberg.com.
Disclaimer:
The views mentined here are based on the historiacal price and news . we will not be responsible for any loss incured in trading at these levels .we recommend to consult with the financial advisor/broker for trading. All future trading entail significant risk, which should be fully understood prior trading.
Saturday, December 13, 2008
Commodity Report
THIS WEEK RANGES FROM PROCOMMODITY REPORT 15 th TO 20th DECEMBER 2008:-
INTERNATIONAL
GOLD 780$-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.
IMPORTANT NOTE:
To Receive Daily Premium updates free of cost
Contact us at:-
Procon Advisory Services India ( P) ltd .
58/1.Frst Foor , Tamil sangam road ,
Madurai 625001
Email:proconmadurai@gmail.com
PH:-0452- 4246135
MOB:-09994988433
http://www.indiaprocon.com/
Procon Advisory Services India (P) ltd
G-13 Swarna Jayanthi Complex, East Block,
Ameerpet, Hyderabad- 500016.
Email:-proconhyderabad@gmail.com
PH: - 040-40037124 MOB:-09949169279
http://www.indiaprocon.com/
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.
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.
IMPORTANT NOTE:
To Receive Daily Premium updates free of cost
Contact us at:-
Procon Advisory Services India ( P) ltd .
58/1.Frst Foor , Tamil sangam road ,
Madurai 625001
Email:proconmadurai@gmail.com
PH:-0452- 4246135
MOB:-09994988433
http://www.indiaprocon.com/
Procon Advisory Services India (P) ltd
G-13 Swarna Jayanthi Complex, East Block,
Ameerpet, Hyderabad- 500016.
Email:-proconhyderabad@gmail.com
PH: - 040-40037124 MOB:-09949169279
http://www.indiaprocon.com/
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.
Saturday, December 6, 2008
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
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
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 $17 billion, two senior congressional aides said on Friday.The outline of the package was reached after auto executives pleaded with lawmakers for help and U.S. data showed employers axed more than 533,000 jobs.
BoE is working on a radical plan to inject cash directly into the British economy as a last resort to reverse a slide into recession ral Reserve interest rate cut this month
IMPORTANT NOTE:
To Receive Daily Premium updates free of cost
Contact us at:-
Procon Advisory Services India ( P) ltd .
58/1.Frst Foor , Tamil sangam road ,Madurai 625001
Email:proconmadurai@gmail.com
PH:-0452- 4246135
MOB:-09994988433
http://www.indiaprocon.com/
Procon Advisory Services India (P) ltd
G-13 Swarna Jayanthi Complex, East Block,
Ameerpet, Hyderabad- 500016.
Email:-proconhyderabad@gmail.com
PH: - 040-40037124
MOB:-09949169279
http://www.indiaprocon.com/
SOURCE: reuters.co.uk., marketwatch.com ,minesweb.comcommodityonline.com.
Disclaimer:The views mentined here are based on the historiacal price and news . we will not be responsible for any loss incured in trading at these levels .we recommend to consult with the financial advisor/broker for trading. All future trading entail significant risk, which should be fully understood prior trading.
INTERNATIONAL
GOLD 680$-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
- World shares extend loss, down 1 pct
- Wall Street indexes were down between 2 and 3 percent.
- FTSE 100 closes down 2.7 percent.
- CRB lost as much as 3.3 percent today to 210.78, the lowest since Aug. 9, 2002.
- Gold slides, ends tad above $750 on job data.
- Oil drops sharply, teeters just above $40 per barrel.
- Miners also suffered following a dip in base metals prices Copper , Aluminium, Zinc, lead on there 4 years low
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 recordLate 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 previouslySome 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 $700 billion financial bailout program, also is weighing new initiatives.
BoE is working on a radical plan to inject cash directly into the British economy as a last resort to reverse a slide into recession ral Reserve interest rate cut this month
IMPORTANT NOTE:
To Receive Daily Premium updates free of cost
Contact us at:-
Procon Advisory Services India ( P) ltd .
58/1.Frst Foor , Tamil sangam road ,Madurai 625001
Email:proconmadurai@gmail.com
PH:-0452- 4246135
MOB:-09994988433
http://www.indiaprocon.com/
Procon Advisory Services India (P) ltd
G-13 Swarna Jayanthi Complex, East Block,
Ameerpet, Hyderabad- 500016.
Email:-proconhyderabad@gmail.com
PH: - 040-40037124
MOB:-09949169279
http://www.indiaprocon.com/
SOURCE: reuters.co.uk., marketwatch.com ,minesweb.comcommodityonline.com.
Disclaimer:The views mentined here are based on the historiacal price and news . we will not be responsible for any loss incured in trading at these levels .we recommend to consult with the financial advisor/broker for trading. All future trading entail significant risk, which should be fully understood prior trading.
Saturday, November 29, 2008
Commodity Reports
THIS WEEK RANGES FROM PROCOMMODITY REPORT 1st TO 6th DECEMBER 2008:-
U.S
GOLD 790$-888$
SILVER 9.80$ - 11.20$
COPPER 1.57$-1.85$
CRUDE OIL 51$- 65.60$
MCX
GOLD 12300-12640,12900,13090,13220 ,13750
SILVER 16550-16850,17775,18050,18255,18560
COPPER 183-189,193.60,195,199,202
CRUDE OIL 2558-2638,2680,2757,2798,2850.
AGRI
CARDAMOM :-547-555,585,593,604,618,638,648.
KAPAS :- 477-480,482,485,495,502
Kapas khalli :-487- 494,511,529,536.
Menthaoil :- 450-,462 472,483,505,525,534
LAST WEEK REVIEW:-
As We told last week bullions and agri market closed higher compare to the previous week
NOTE :
U.S
GOLD 790$-888$
SILVER 9.80$ - 11.20$
COPPER 1.57$-1.85$
CRUDE OIL 51$- 65.60$
MCX
GOLD 12300-12640,12900,13090,13220 ,13750
SILVER 16550-16850,17775,18050,18255,18560
COPPER 183-189,193.60,195,199,202
CRUDE OIL 2558-2638,2680,2757,2798,2850.
AGRI
CARDAMOM :-547-555,585,593,604,618,638,648.
KAPAS :- 477-480,482,485,495,502
Kapas khalli :-487- 494,511,529,536.
Menthaoil :- 450-,462 472,483,505,525,534
LAST WEEK REVIEW:-
As We told last week bullions and agri market closed higher compare to the previous week
NOTE :
- We are bullish in bullions and agri buy on support
- Expecting copper range bound 186- 195 once it breaks 197 and settles it can test 202 in the coming days stop loss sugested was 183.30
- Expecting zinc in the ranges of 57.50 -63 once it breaks 63 and settles can test 67.50in coming days stop loss suggested was 56.80 moreover fundamentals also favoring it read those news below.
- Expecting nickel in the ranges of 503-534 once it breaks 534 and settles can test 550 in coming days stop loss suggested was 494 moreover fundamentals also favoring it read those news below
Retail survey fails to lift economic gloom
Retail sales showed some resilience in October but continued house price falls and the threat of more shockwaves from the financial crisis gave little reason for cheer.
The Confederation of British Industry's retail sales balance stayed at -27 in October, wrongfooting analysts who had forecast a slide to -35 and holding well above August's series low of -46
Be it ever so humble
Cash-strapped consumers embrace 'home for the holidays'
Motor club AAA is forecasting the first drop in Thanksgiving holiday traveling since 2002. Approximately 41 million Americans will travel 50 miles or more from home during the Thanksgiving weekend. That's equivalent to 1.4%, or 600,000 travelers, fewer than last year. Moreover, this is the fourth straight holiday this year.
Public finances deteriorate sharply
The budget deficit swelled to its largest in at least 60 years in the six months to September, and analysts say the government coffers look set to deteriorate further as the economy slows.
Chancellor Alistair Darling's forecast for a full-year deficit of 43 billion pounds now looks very optimistic, but he has said borrowing will need to rise to boost the economy, which is nearing its first recession since the early 1990s
Gold Has Biggest Monthly Gain in Nine Years on Demand for Haven
Gold prices rose in New York, capping the biggest monthly increase in nine years, on demand for a haven following terrorist attacks in India. Platinum had the biggest weekly gain since May
South African gold production continues to plunge
The South African Chamber of Mines reports that South Africa's fall from its world No. 1 gold producer status, which, according to most figures occurred last year in favour of China, continues as a number of factors have already made this a difficult year and output continues to fall.
According to the Chamber, South Africa's total gold production in the third quarter decreased by 2.1% to 55,725 kilograms (1.79 million ounces) when compared to the second quarter of 2008 - which itself showed a sharp decline from a year earlier. This suggests that South Africa's full year output could be as much as 1 million ounces lower this year than last
China looks at buying 'cheap' base metals as strategic reserve.
China is looking at buying base metals as state or commercial reserves to take advantage of the lowest prices for years and bolster weak demand, industry sources said on Friday.
They said Beijing may be considering at least two proposals -- one for all base metals and another just for copper and aluminium. The metals could be purchased by the State Reserve Bureau (SRB) or commercial entities controlled by the government.
"The proposal was for all base metals," an analyst at a state research unit said, without giving details.
But a senior executive at a large aluminium smelter said the Ministry of Industry and Information Technology had proposed the government increase state copper and aluminium reserves. He did not provide proposed tonnages or timing.
A sales manager at an aluminium smelter said he had heard that the proposal advocated the government use 20-30 billion yuan ($2.93 billion-$4.39 billion) to buy up base metals for its reserves
Recession reports - Nyrstar halts zinc output at Balen
Nyrstar said that it would temporarily suspend production and initiate a care and maintenance program at its Balen plant due to poor economic circumstances. Nyrstar said that the program, which will take place before year end was needed to address the sudden decline in customer demand and reduce the accumulation of surplus zinc stocks in the market.Nyrstar also said that the suspension would minimize losses at the plant which have been caused by the low price of zinc, down 58% from its 2008 peak combined with Balen's high energy and production costs. Balen currently has the highest labor cost across the Nyrstar Group and its energy cost has increased by more than 50% in the last 12 months
Nickel
Mr Alwin Syah Loebis president director of PT Aneka Tambang said that it cuts its production target by almost 30% to 12,000 tonnes for 2009 on lower demand. He added that global consumption of nickel would go below 1 million tonnes in 2009 from 1 million tonnes in 2008, in particular because of the forecast reduction in world economic growth.
Mentha oil
Mentha oil futures on Multi Commodity Exchange (MCX) has advanced on follow-through buying and positive cues from spot market. Good demand is being witnessed in the spot market amid restricted supply. A major exporter is reported to be active in the market.
The most active Mentha oil has surged by Rs 7.30 to trade at Rs 514.20 a kg with volume of 69 lots. December Mentha oil has gained Rs 7.70 to Rs 520.50 a kg and January Mentha oil has improved by Rs 0.80 to Rs 513.60 per kg. Volumes in December and January are 159 and 31 lots respectively.
Data to watch
On Monday
The Institute for Supply Management will release its manufacturing survey for November. Construction spending figures for October will also be released.
Tuesday
U.S. auto sales while Wednesday will bring the November ADP employment survey of the private sector, productivity figures for the third quarter and the ISM's November survey of the service sector of the economy.
Wednesday
The Fed is expected to release its Beige Book of economic conditions, which is "likely to paint an even bleaker picture than the October report," as it captured a near seizure in credit markets "and the resulting knock-out punch to consumers and businesses," said Sal Guatieri, senior economist at BMO Capital Markets.
Thursday
weekly jobless claims. Federal Reserve Chairman Ben Bernanke is also expected to speak on housing at a Fed conference in Washington.
Also on tap, the European Central Bank and the Bank of England are expected on Thursday to make decisions on interest rates.
Friday
The jobs report. BMO Capital expects the economy to have shed 350,000 jobs in November, and the unemployment rate to have risen to 6.8%, from 6.5% in October
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SOURCE: reuters.co.uk., marketwatch.com ,minesweb.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.
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