Showing posts with label Base Metal. Show all posts
Showing posts with label Base Metal. Show all posts

Saturday, 31 January 2015

CAPITALSTARS RESEARCH VIEW ON COMMODITY MARKET- 02 FEB TO 07 FEB 2015


02ND FEBRUARY TO 07TH FEBRUARY 2015
A VERY GOOD EVENING TO ALL INVESTORS & CLIENTS...
I AM HERE TO GIVE THE FORECAST OF COMMODITY MARKET IN THE COMING WEEK i.e. 02ND JAN TO 07TH JAN 2015.....
PRECIOUS METALS:-
IN THE WEEK WE HAVE SEEN GOOD VOLATILITY IN THE PRECIOUS METALS. BOTH GOLD & SILVER HAS SHOWN VOLATILE MOVEMENT UNDER THE IMPACT OF INTERNATIONAL MARKETS EVENTS. IN THE COMING WEEK, PRECIOUS METALS ARE EXPECTED TO REMAIN VOLATILE.

GOLD APRIL CONTRACT IS WELL SUPPORTED BY THE FUNDAMENTAL REASONS. U.S.DATA CAME MIXED THIS WEEK & U.S. FEDERAL RESERVE SAID THAT INTEREST RATES WILL REMAIN UNCHANGED TILL JUNE 2015. GOLD FEB CONTRACT CAN MOVE UPWARD TO THE LEVELS OF 28200-28250 & THEN 28550 TO 28700 LEVELS BREAKING RESISTANCES OF 28300 & 28600 LEVELS.
SUPPORTS ARE AT 27250-27200 & 26850 LEVELS.
COMEX MARKET SUPPORTS ARE AT 1258 OUNCE & 1232 OUNCE & RESISTANCE ARE AT 1305 OUNCE & 1323 OUNCE.
SILVER MARCH CONTRACT SHOWN BEARISH MOVEMENT AFTER FED ANNOUNCEMENT OF KEEPING INTEREST RATE UNCHANGED TILL JUNE 2015. & MADE FRESH LOW OF 37166 LEVELS. IT IS EXPECTED TO REMAIN BEARISH & CAN FALL FURTHER TO 37200 & 36800 LEVELS BREAKING SUPPORTS OF 37350 & 36850 LEVELS.
RESISTANCES ARE AT 38850-38950 & 39500 LEVELS.
COMEX MARKET SUPPORTS ARE AT 16.53 CENT & 15.82CENT & RESISTANCE ARE AT 18.15 CENT & 19.06 CENT.
BASE METAL SEGMENT:-
IN THIS WEEK WE HAVE SEEN VOLATILE MOVEMENT IN THE BASE METALS SEGMENT, PARTICULARLY COPPER FEB CONTRACT FALL AROUND 0.44%. COPPER FEB CONTRACT HAS MADE LOW OF 332.80 LEVELS.
IN THE COMING WEEK, WE COULD SEE SOME RECOVERY IN COPPER PRICE & IT CAN MOVE UP TO 347 TO 350 LEVELS ON UPSIDE. COPPER FEB CONTRACT HAVE GOOD SUPPORT AT 336 & 332 LEVELS. RESISTANCES ARE AT 349-351 & 356-358 LEVELS.
COMEX MARKET SUPPORTS ARE AT 2.42 MT & 2.35 MT & RESISTANCE ARE AT 2.56 MT & 2.62 MT.
ENERGY SEGMENT:-
CRUDE OIL FEB CONTRACT TRADED ON LOWEST LEVEL IN ALMOST 6 YRS WITH U.S. DoE INVENTORY NO. CONTINUING TO DISAPPOINT. CRUDE STOCKPILES EXPANDED TO MOST IN MORE THAN 3 DECADES. AMONGST THE CUES FROM OTHER SIDE OF THE WORLD, SAUDI ARABIA THE WORLD’S LARGEST PRODUCER IS SEEN CONTINUING ITS OUTPUT HIGH. OPEC ALSO COLNTINUE TO RESIST CALLLS FOR CUTTING OUTPUT.
IN COMING WEEK, WE COULD SEE RANGE BOUND MOVEMENT IN THE OIL PRICE. OVERALL, CRUDE OIL IS EXPECTED TO REMAIN BEARISH TILL IT IS TRADING BELOW 3100 LEVELS & SELL ON RISE IS SUGGESTED ON UPWARD MOVEMENT. CRUDE OIL FEB CONTRACT HAVING RESIATANCES AT 2900 & 2970 SUPPORTS ARE AT 2760 & 2670 LEVELS.
IN NYMEX MARKET, CRUDE OIL HAVING SUPPORTS AT 44.73 BARREL & 41.78 BARREL. RESISTANCES ARE AT 49.48 & 51.28 BARREL.
MARKET HAS WITNESSED CRUCIAL DOWNWARD MOVEMENTS IN NATURAL GAS THIS WEEK. IN THE COMING WEEK TOO, NATURAL GAS FEB CONTRACT IS EXPECTED TO REMIN IN BEARISH PHASE & CAN COME DOWN TO 160-158 & 153 LEVELS ON BREACHING SUPPORTS OF 162 & 156 LEVELS TECHNICALLY. FUNDAMENTALLY, MORE THAN 48 STATES OF U.S. IS EXPERENCING MILD TO WARMER TEMPERATURE & PLENTYFULL SUPPLIES IN DECEMBER & IT WILL EXPECTED TO BE CONTINUE IN COMING WEEK TOO.   
IN NYMEX MARKET, NATURAL GAS HAVING SUPPORTS AT 2.48 & 2.34 MMBTU. RESISTANCES ARE AT 2.88 & 3.14 MMBTU.



Monday, 10 November 2014

PRECIOUS-Gold edges up after slide, but seen pressured by rising dollar

Gold ticked up on Tuesday :-
it attempted to recover from a 2 percent slide in the previous
session, but was unlikely to rally as the outlook for the U.S.
dollar remained optimistic.
The dollar steadied on Tuesday after recouping some of its
post-payrolls losses as an uptick in risk appetite sent U.S.
Treasury yields higher and underpinned Wall Street stocks.

Spot gold gained 0.4 percent to $1,154.80 an ounce by
0330 GMT, after dropping 2.2 percent in the previous session.
   
"U.S. economic growth in particular looks buoyant and is
likely to drive the dollar even higher, placing downward
pressure on gold," .
   
The bleak investor interest in bullion indicated that
investors expect prices to drop further amid a strong recovery
in the U.S. economy, the likelihood of the Federal Reserve
rising rates sooner than later and a robust dollar.
   
Holdings of ETF Securities' rival SPDR Gold Trust, the
world's top gold exchange-traded fund, fell 0.25 percent to
725.36 tonnes on Monday - a fresh six-year low.

Gold prices could tumble towards $800 to $900 an ounce, not
seen since the 2008/2009 financial crisis, as the metal is no
longer seen as a decent portfolio diversifier, metals merchant
and hedge fund.
Analysts and traders surveyed by Reuters last week predicted
that prices could fall to $1,000 by the end of the year,
revisiting that level for the first time since 2009.
   
PRICES AT 0330 GMT :-

Metal                    Last              Change          Pct chg
                                   
 Spot gold             1154.8           4.67                0.41
 Spot silver           15.59             0.02                0.13
 Spot platinum     1197.8            5.8                  0.49
 Spot palladium   762.5              3.9                  0.51
 Comex gold        1154.2           -5.6                  -0.48
 Comex silver      15.595           -0.076              -0.48
 Euro                   1.2435                  
 DXY                    87.719