Intraday Outlook
Bullion: Gold futures were trading slightly higher on domestic exchanges tracking rise in COMEX futures. However, local prices were confined to a narrow range due to rise in rupee against the dollar. Gold futures on COMEX rose today as the dollar weakened against the euro.
Energy: Domestic crude oil futures traded higher tracking the rise in benchmark contracts on the New York Mercantile Exchange, where prices recovered slightly on bargain buying, and on a weak dollar against the euro. NYMEX crude oil rose today after declining in the previous session. Crude oil prices had declined earlier reflecting a fall in demand, as many refineries slowed down operations in the US East Coast due to the Hurricane Sandy.
Metals: Base metal futures on the MCX traded in a range with a positive bias tracking a similar trend in benchmark contracts on the London Metal Exchange, where prices gained on weak dollar against the euro. In the domestic market, metal futures gained on global cues, but appreciation in
rupee against the US dollar capped the gains.
31.10.2012 LME Inventory
Last updated at 02:30 PM
| Metal | Change from previous day |
| Aluminium | -5775 |
| Copper | -750 |
| Lead | -750 |
| Nickel | -102 |
| Tin | 10 |
| Zinc | -1175 |
30.10.2012 LME Inventory Data
Last updated at 14:30 HRS.
| Metal | Change from previous day |
| Aluminium | 22325 |
| Copper | 75 |
| Lead | -1900 |
| Nickel | 786 |
| Tin | 100 |
| Zinc | -3050 |
Intraday Outlook
Bullion: Gold futures were trading higher on domestic exchanges following a sharp fall in rupee against the dollar. However, the uptrend in local prices was limited as COMEX futures fell due to a strong dollar against the euro.
Energy: After a weak trend during most of the day session, domestic crude oil futures were flat at the start of evening trade as the fall in the rupee against the dollar supported oil prices on the MCX. Crude oil is under pressure from manufacturing data to be released later in the US. Concerns on energy demand due to ailing economies of Spain and Italy also outweighed bullish cues of hurricane Sandy.
Metals: Base metal futures on the MCX traded lower tracking benchmark contracts on the London Metal Exchange, where prices came under pressure as the US dollar strengthened against major currencies. A sharp fall in metal prices on the MCX was, however, arrested as the Indian rupee fell against the greenback.
29.10.2012
LME Inventory Update :
Copper UP 20650
Zinc UP 31425
Lead UP 16350
Nickel DOWN -78
Aluminum UP 8200
Copper UP 20650
Zinc UP 31425
Lead UP 16350
Nickel DOWN -78
Aluminum UP 8200
Intraday Outlook
Bullion: Gold prices were higher Friday despite modest improvements in U.S. economic data as investors focused on stronger demand from India and continued to adjust their portfolios following option expiration. Gold prices rose despite data showing U.S. third-quarter gross domestic product rose 2%, beating forecasts of 1.8% growth.
Energy: Crude oil futures prices turned higher early Friday, amid signs of recovery in the U.S. economy and hopes of rising oil demand. Natural-gas prices were lower Friday morning as the market looked ahead to the arrival of Hurricane Sandy to the U.S. and the likely diminished use of natural gas due to power outages.
Metals: Base metals are lower on the LME, with flagship three-month copper having broken below support at $7,800/ton. A firmer greenback is weighing on the dollar-denominated metals, which are less affordable to other currency holders when the dollar strengthens.
LME Inventory Data 25.10.2012
Last updated at 13:30 HRS.
| Metal | Change from previous day |
| Aluminium | 1050 |
| Copper | -3650 |
| Lead | -1100 |
| Nickel | 804 |
| Tin | -20 |
| Zinc | 35950 |
Intraday Outlook
Bullion: Gold futures on domestic exchanges declined as the rupee was strong against the US dollar. Gold's recent declines have strengthened the case for even lower prices. Gold prices are hovering a breath above $1,700 and could easily tumble to $1,680 in the next few days as technical indicators are pointing to lower prices.
Energy: Crude oil futures fell Wednesday after the Energy Department reported a big jump in U.S. oil inventories that signaled the market has plenty of supply.
Metals: Base metal prices are mostly higher in Asia trading, as dip buying and a stronger-than-expected HSBC flash China manufacturing PMI for October lend support. Benchmark three-month copper is trading at $7,892.50/ton, up 0.8% from its previous settlement.
Intraday Outlook
Bullion: Gold futures on domestic exchanges declined as the rupee was strong against the US dollar. The downside in local futures was limited because of the rise in international contracts. On the COMEX, gold futures gained slightly due to bargain buying after the decline in prices Friday. Weakness in the US dollar against the euro also boosted the prices of the metal.
Energy: Domestic crude oil futures were trading lower due to a firm rupee against the US dollar, but the rise in benchmark contract on the New York Mercantile Exchange limited the downside. NYMEX oil futures gained on bargain buying and weakness in the US dollar against the euro.
Metals: Base metal futures on the MCX traded lower tracking similar movement in benchmark contracts on the London Metal Exchange and firm rupee against the US dollar. LME metal contracts declined on firm US dollar against the euro and on demand concerns mainly from China, where monetary stimulus seems unlikely in near term.
LME Inventory Data 23.10.2012
| Metal | Change from previous day | Trend |
| Aluminium | -3375 | Up |
| Copper | 175 | Down |
| Lead | 12375 | Down |
| Nickel | 804 | Down |
| Tin | Unchanged | Neutral |
| Zinc | -1575 | Up |
22.10.2012 LME Inventory Data
Last updated at 13:30 HRS.
| Metal | Change from previous day |
| Aluminium | 23750 |
| Copper | 1525 |
| Lead | 6500 |
| Nickel | -366 |
| Tin | 140 |
| Zinc | -1650 |
Intraday Outlook
Bullion: Despite bearish global cues, gold futures on domestic exchanges were up slightly because of the sharp depreciation in the rupee against the US dollar. Strength in the rupee makes gold imports costlier, and pushes up domestic prices. On the COMEX, gold futures were down because bullish data from the US and China recently has faded the safe-haven appeal of the yellow metal.
Energy: Nymex crude oil futures lose their early advance as equities hold sizable declines and the dollar continues to strengthen. Shackled crude had finally appeared to break decisively above $92/barrel earlier Friday, with November futures getting to $93.05 as battered heating oil and gasoline prices recovered.
Metals: Most base metal futures on the MCX traded lower today on similar cues from parent contracts on the London Metal Exchange, but weak rupee against the US dollar restricted a sharp fall. Besides MCX copper, nickel, zinc, lead futures traded lower, while aluminium contract gained marginally due to bargain buying.
LME INVENTORY 19.10.2012
Last updated at 13:30 HRS.
| Metal | Change from previous day |
| Aluminium | -9325 |
| Copper | -4250 |
| Lead | -1600 |
| Nickel | 348 |
| Tin | 35 |
| Zinc | -550 |
Technical Outlook 19.10.2012
MCX Gold Dec futures contract is looking strong on chart, day traders can buy on intraday dips Major support is seen in range of 31037 , 30723 and 30410. While important resistance is seen near 31664 , 31977 and 32291 .
MCX Silver Dec futures contract is looking strong on chart, day traders can buy on intraday dips Major support is seen in range of 60192 , 59584 and 58976. While important resistance is seen near 61408 , 62016 and 62624 .
MCX Natural Gas Oct futures contract is looking strong on chart, day traders can buy on intraday dips Major support is seen in range of 187.11 , 185.22 and 183.33 . While important resistance is seen near 190.89 , 192.8 and 194.7 .
MCX Crude Oil Oct futures contract is looking strong on chart, day traders can buy on intraday dips Major support is seen in range of 4877 , 4827 and 4778 . While important resistance is seen near 4975 , 5025 and 5074.
MCX Copper Nov futures contract is looking strong on chart, day traders can buy on intraday dips Major support is seen in range of 439.07 , 434.63 and 430.20 . While important resistance is seen near 447.94 , 452.4 and 456.8 .
MCX Nickel Oct futures contract is looking strong on chart, day traders can buy on intraday dips Major support is seen in range of 915.85 , 906.60 and 897.35 . While important resistance is seen near 934.35 , 943.6 and 952.9 .
Intraday Outlook
Bullion: Despite a weak global trend, bullion prices in MCX ended higher as a sharp fall in the rupee against the dollar towards the end of session supported domestic prices. Comex Gold futures slipped on Thursday, taking bearish cues from a weaker euro and renewed concerns about the currency bloc's banking crisis ahead of a summit of European leaders. Worries about Europe's financial system have kept pressure on gold at times this year by sending investors worried about holding euro denominated assets into the U.S. dollar.
Energy: U.S. crude futures fell Thursday (MCX Future contracts were trading higher due to deprecation in INR against USD) after an increase in U.S. jobless claims signaled a still sluggish economic recovery. Oil prices typically respond to jobs data, as rising unemployment indicates a slumping economy that will lower fuel demand.
Metals: Copper futures on the MCX were trading with a positive bias, as weak rupee against the US dollar supported prices in the local market, However, gains remained capped, as benchmark contract on the LME moved in a tight range.
19.10.2012 - DOC Format
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Morning Session Level
Update
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SCRIPT
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S4
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S3
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S2
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S1
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PP
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R1
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R2
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R3
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R4
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PRECIOUS METALS
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Silver
|
58731
|
59194.7
|
59659
|
60123
|
60587
|
61051
|
61515
|
61979
|
62443
|
|
Gold
|
30742
|
30880.3
|
31018
|
31156
|
31294
|
31432
|
31570
|
31708
|
31846
|
|
Copper
|
431.3
|
434
|
436.8
|
439.6
|
442.4
|
445.1
|
447.9
|
450.7
|
453.5
|
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ENERGY
|
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|
Crude Oil
|
4734.3
|
4778.8
|
4823.3
|
4867.8
|
4912
|
4956.8
|
5001.3
|
5046
|
5090.3
|
|
Natural Gas
|
169.2
|
174.1
|
179.1
|
184
|
189
|
193.9
|
198.9
|
203.8
|
208.8
|
|
BASE METALS
|
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Nickel
|
881.6
|
891.5
|
901.3
|
911.2
|
921
|
930.9
|
940.7
|
950.6
|
960.4
|
|
Lead
|
111.4
|
112.4
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113.3
|
114.3
|
115.2
|
116.2
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117.1
|
118.1
|
119
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Zinc
|
98.28
|
98.98
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99.68
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100.38
|
101.1
|
101.78
|
102.48
|
103.2
|
103.88
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Aluminium
|
101.6
|
102.73
|
103.85
|
104.98
|
106.1
|
107.23
|
108.35
|
109.5
|
110.6
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