Daily Commodity Report 22 Nov 2013 by EPIC RESEARCH

8/13/2019 Daily Commodity Report 22 Nov 2013 by EPIC RESEARCH

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COMMODITY WRAPUP

Gold hit a four-month low on Thursday, hurt by

speculation the US Federal Reserve might be ableto start scaling back its monetary stimulus soon. US

gold futures for December delivery fell 1.5 per cent

to $1,238.90 an ounce. Gold's drop to a four-month

low this week attracted buyers in Asia but the re

were doubts that the demand would last as con-

sumers may be waiting for the market to go even

lower. In India, despite muted demand, premiums

jumped to $120 an ounce from $80 last week

Silver prices fell by 0.64% to Rs 46,220 per kg in

futures trade yesterday as speculators trimmed

their positions, taking weak cues from the global

markets. At MCX silver March 2014 declined by Rs

297, or 0.64%, to Rs 46,220 per kg in business vol-

ume of 64 lots. On the similar lines, the white

metal for delivery in Dec traded lower by Rs 282,

or 0.63%, to Rs 44,717 per kg in business turnover

of 775 lots. Silver traded 2.41% lower at $19.85 anounce in New York in yesterday's trade.

At MCX, copper Nov. traded higher by Rs 1.95,

or 0.45%, to Rs 437.05 per kg in a business turn-over of 930 lots. The metal for delivery in Febru-

ary next year gained Rs 2, or 0.45%, at Rs 448.80

per kg in a business volume of 129 lots. Besides

increased demand from consuming industries, a

firming trend overseas after Fed Chairman said

that the benchmark interest rate will remain low

long after policy makers reduce bond purchases,

influenced copper prices at futures trade.

MCX Crude oil futures recovered yesterday but

the gains were primarily because of weak under-

tone in the INR as global prices were weighed

down by Euro-zone growth worries. Oil prices

also got eased in Asia after talks between Iran

and world powers on its disputed nuclear pro-

gram opened in Geneva, while signs of rising US

demand failed to boost New York's main con-

tract. Domestic inventories had risen 400,000barrels last week lower than expectations.

GOLD

CRUDE OIL

COPPER

SILVER

SPECIAL NEWS COMMODITY BUZZ*The U.S. Bureau of Labor Statistics reported on

Wednesday. Over the last 12 months, the all

items index increased 1.0% before seasonal ad-

justment. The index for all items less food and

energy rose 0.1% in October, steady over lastmonth. On annual basis, the index for all items

less food and energy has risen 1.7% over the

last year, while the food index has risen 1.3%,

The energy index has declined 4.8% over the

last 12 months, its largest 12-month decline

since July 2012. US data suggested stronger la-

bor market conditions and subdued inflation

pressures. US weekly jobless claims fell more

than expected last week, while US producerprices fell for a second straight month in Octo-

ber.

Commodity indices have continued to perform

badly moving into 4th quarter of 2013 and weakness

in metals and agri-commodities complex is seeping

into energy, It was the 3rd consecutive year of

negative returns. In its annual rebalancing at begin-ning of next year, the index will reduce its alloca-

tion to US NG. WTI crude oil and cotton in favor of

gold, corn and silver. Reweighting events may not

have any appreciable impact on commodity pricing.

CME lowered Comex 100 Gold futures (GC) mar-

gins to $7,975 per contract from $8,800 and cut

Comex 5000 Silver futures (SI) margins to $11,000

per contract from $12,375. CME also cut mainte-

nance margins for gold to $7,250 per contract from

$8,000. All the margin changes will be effective af-

ter the close of business on Friday, Nov. 22.


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COMMODITY LEVELS

COMMODITIES CONTRACT S2 S1 PIVOT R1 R2GOLD 05DEC2013 29759.00 30022.00 30180.00 30443.00 30601.00SILVER 05DEC2013 44219.67 44673.33 45004.67 45458.33 45789.67CRUDE 18 DEC 2013 5863.67 5958.33 6010.67 6105.33 6157.67NATURAL GAS 25 NOV 2013 226.03 229.97 232.83 236.77 239.63COPPER 29 NOV 2013 433.08 438.87 441.93 447.72 450.78NICKEL 29 NOV 2013 837.77 843.73 847.67 853.63 857.57LEAD 29 NOV 2013 128.58 129.77 130.48 131.67 132.38ZINC 29 NOV 2013 116.17 117.13 117.62 118.58 119.07ALLUMINIUM 29 NOV 2013 108.53 109.57 110.13 111.17 111.73

ITEM Contract Open High Low Close Chg. OI (inlots) TRENDGOLD 05 DEC 2013 30030 30338 29917 30285 +0.51 6115 SidewaysSILVER 05 DEC 2013 44851 45336 44551 45127 +0.59 10311 BearishCRUDE 18 DEC 2013 5928 6063 5916 6053 +2.35 10752 BullishNATURALGAS 25 NOV 2013 228.90 235.7 228.9 233.90 +2.63 8270 BullishCOPPER 29 NOV 2013 137.45 445 436.15 444.65 +1.88 11550 BullishNICKEL 29 NOV 2013 849.50 851.60 841.7 849.7 +0.54 9162 BullishLEAD 29 NOV 2013 130.10 131.2 129.3 130.95 +0.69 27.95 BullishZINC 29 NOV 2013 117.05 118.10 116.65 118.1 +1.07 2298 BullishALUMINIUM 29 NOV 2013 109.60 110.70 109.1 110.60 +1.15 1875 Bullish

SUPPORT & RESISTANCE

DAILY LEVELS WITH TREND


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RECOMMENDATION

BUY GOLD ABOVE 30500 TGTS 30600/30750 SL 30350

SELL GOLD BELOW 30150 TGTS 30050/29950 SL 30330

BUY SILVER ABOVE 45500 TGTS 45700/46000 SL 45150

SELL SILVER BELOW 44800 TGTS 44600/44300 SL 45150

A swing trading was seen yesterday

in Gold, positive jobless data hit the

gold and took price down to 29917.

Although it recovered, but prices

then stuck in a trend channel and

yet to make convincing trades above

30500 region to generate intraday

buying sentiments 30800.

The prices have broken 45000 level

but failed to close below, As long as

45000 region holds downside prices

likely to trade higher with an upside

target of 46100/46500 at an immedi-

ate level. On the other side, fall be-low 45000 with volume could bid

sel l ing sentiments towards

44800/44500.

GOLD

SILVER


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COMMODITY SPECIALLME INVENTORY (in tonnes)

METALS ChangeALUMINIUM 3300

COPPER -3575

LEAD -775

NICKEL 912

TIN -60

ZINC -4575

MOST ACTIVE CONTRACTS BY (VOLUME)Symbol Expiry Date LTP Value (In Lacs) Volume (In Lots)SILVERMICRO 30-11-2013 45316.00 3,26,37,48,952.00 72,022CRUDE OIL 18-12-2013 6054.00 40,98,31,584.00 67,696NATURAL GAS 25-11-2013 233.80 1,01,37,334.20 43,359COPPER 29-11-2013 444.35 1,76,37,140.20 39,692SILVER M 30-11-2013 45308.00 1,73,46,62,088.00 38,286COPPERMINI 29-11-2013 444.30 1,17,32,630.10 26,407SILVER 05-12-2013 45264.00 1,00,21,90,224.00 22,141GOLD M 05-12-2013 30952.00 66,96,46,520.00 21,635GOLD 05-12-2013 30223.00 53,17,43,462.00 17,594LEADMINI 29-11-2013 130.95 20,54,212.65 15,687
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ECONOMIC CALENDER

TIME(ET) REPORT PERIOD ACTUAL CONSENSUS-FORECAST PREVIOUSMONDAY, NOV. 18

10 am Home builders' index Nov. 56 55

TUESDAY, NOV. 198:30 am

Employment cost in-dex

3Q 0.5% 0.5%

WEDNESDAY, NOV. 208:30 am Retail sales Oct. 0.1% -0.1%

8:30 am Retail sales ex-autos Oct. 0.2% 0.4%

8:30 amConsumer price in-dex

Oct. 0.0% 0.2%

8:30 am Core CPI Oct. 0.2% 0.1%

10 am Business inventories Sept. 0.3% 0.3%

10 am Existing home sales Oct. 5.23 mln 5.29 mln

2 pm FOMC minutes

THURSDAY, NOV. 218:30 am

Weekly joblessclaims

11/16 N/A N/A

8:30 am Producer price index Oct. -0.2% -0.1%

8:30 am Core PPI Oct. 0.1 0.1%

8:58 am Markit flash PMI Nov. -- 51.8

10 am Philly Fed Nov. 15.0 19.8

10 am Leading indicators Oct. --

FRIDAY, NOV. 2210 am Job openings Sept. 3.9 mln


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Daily Commodity Report 22 Nov 2013 by EPIC RESEARCH

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