Actual: 73.6, Forecast: 73.5. Data Interpretation: Data is neutral for commodities.
Friday, May 28, 2010
Chicago PMI
" Actual: 59.7, Forecast: 61. Data Interpretation: Data is positive for gold and silver. it is negative for base metals and crude oil.
Personal Income m/m:
Actual: 0.4%, Forecast: 0.5%, Previous: 0.3%, Personal Spending m/m: Actual: 0.0%, Forecast: 0.3%, Previous: 0.6%. Data Interpretsation: data is positive for gold and silver, it is negative for base metals and crude oil.
Wednesday, May 26, 2010
crude:
+2.4 mnbls, distillate: -0.3, gasolie: -0.2 mnbls, data is mixed/ slightly negative for crude oil.
New Home Sales:
Actual: +504k, Forecast: +425k. Data interpretaton: data is negative for gold and silver. it is positive for base metals and crude oil
Core Durable Goods Orders
: Actual: -1.0%, Forecast: +0.5%, Dureable Goods Orders: Actual: +2.9%, Forecast: +1.4%. Data Interpretation: Data is mixed for commodities.
Monday, May 24, 2010
Existing Home Sales: Actual:
+5.77Mn, Forecast: +5.62 Mn, Previous: +5.35 Mn. Data Interpretation: Data is negative for gold and silver, it is positive for base metals and crude oil.
Friday, May 21, 2010
Thursday, May 20, 2010
Trading Range
Gold - 17780-18410
Silver - 28083-29775
Crude - 3271-3455
Copper - 297.1-312.2
Nickel - 948.8-1018.4
Silver - 28083-29775
Crude - 3271-3455
Copper - 297.1-312.2
Nickel - 948.8-1018.4
Wednesday, May 19, 2010
Crude: Actual:
+0.2 mnbls, Forecast: +0.7 mnbls, Gasoline: -0.3 mnbls, forecast: -0.6 mnbls, distillate: Actual: +1.0 mnbls, forecast: +1.3 mnbls, data interpretation: data is slightly positive for crude oil.
CPI: Actual:
-0.1%, Forecast: +0.2%, Core CPI: Actual: 0.0%, Forecast: 0.1%. Data Interpretation: data is negative for gold and silver. It is positive for base metals and crude oil.
Monday, May 17, 2010
Crude oil accelerates losses, trades below $70
Losses mounted for crude-oil futures as the most-active contract traded below $70 a barrel Monday, a five-month low. Crude oil for June delivery declined $1.75, or 2.4%, to $69.82 a barrel on the New York Mercantile Exchange. In addition to ongoing worries about the global demand for oil, crude futures battled the headwinds of a rising dollar.
TIC Long-Term Purchases:
Actual: +$140.5 Bn, Forecast: +$50.5 Bn. Data Interpretation: data is negative for gold and silver, it si positive for base metals and crude oil.
Friday, May 14, 2010
Gold Update:
Gold has now completed the move till 18115, immediate support comes at 18095, a downside break of which could take prices lower till 18035, immediate good resistance is at 18180
UAE opens world’s first gold ATM
ABU DHABI : World’s first Gold ATM started functioning at Abu Dhabi's Emirates Palace Hotel.
The gold to go machine, developed by Germany's TG-Gold-Super-Markt, dispenses 24 carat one gram, five gram and 10 gram pieces of gold as well as coins bearing designs such as the Krugerrand, Maple Lea and Kangaroo.
A computer in the machine, itself gold-plated, constantly keeps prices in line with the firm's online store.
Gold rates are constantly updated inside the machine in the hotel's lobby, courtesy of a built-in computer connected to a dealer which sells gold online.
This eliminates the risk premiums usually associated with precious metal trading," the German company said.
Last May the company showcased a machine at Frankfurt railway station and claimed it would install 500 of them ATMs in Germany, Switzerland and Austria.
The gold to go machine, developed by Germany's TG-Gold-Super-Markt, dispenses 24 carat one gram, five gram and 10 gram pieces of gold as well as coins bearing designs such as the Krugerrand, Maple Lea and Kangaroo.
A computer in the machine, itself gold-plated, constantly keeps prices in line with the firm's online store.
Gold rates are constantly updated inside the machine in the hotel's lobby, courtesy of a built-in computer connected to a dealer which sells gold online.
This eliminates the risk premiums usually associated with precious metal trading," the German company said.
Last May the company showcased a machine at Frankfurt railway station and claimed it would install 500 of them ATMs in Germany, Switzerland and Austria.
Thursday, May 13, 2010
Crude oil update:
crude has a short-term support at 3329 level, a downdside break of which could take it lower till 3290 level. Immediate resistance is at 3361 level. (CMP 3343)
Energy plays in the growth of humanity.
We have grown to 6.5 billion people from 1.5 billion people over the last century because we could take the work off the backs of men and animals and put it onto machines. We created electronics, computers, medicine and so forth to improve our lifestyle. We have lived truly in the most abundant time for humanity, but we have used up half of the oil. You cannot grow energy production at the level that Asia and India would like in order to have the kind of lifestyle we have here in the West.
The result is a worrisome situation politically because it can lead to wars over resources. It could also lead to starvation because the production of food is dependent on energy. Energy is used to provide everything from fertilizer to diesel fuel to food storage to transportation. Energy has allowed us to move from my father's time of 50% of the U.S. population scratching food out of the surface of the earth to only 3% of the population producing food, much of which we export.
The result is a worrisome situation politically because it can lead to wars over resources. It could also lead to starvation because the production of food is dependent on energy. Energy is used to provide everything from fertilizer to diesel fuel to food storage to transportation. Energy has allowed us to move from my father's time of 50% of the U.S. population scratching food out of the surface of the earth to only 3% of the population producing food, much of which we export.
‘Buy gold, to be protected from currency devaluation’
"We're heading toward government devaluing its currency to devaluate its debt in order to survive. That means you need to protect yourself. You can't just have savings accounts paying no interest. You need to go and buy gold," says Bud Conrad, chief economist with Casey Research, in this exclusive Gold Report interview. Despite the grim outlook for the U.S. dollar and other paper currencies worldwide, Conrad believes he and other speakers at the recent Casey Research 2010 Crisis and Opportunity Summit have information you need to both prosper and protect yourself during the coming economic storm.
TGR: Today we are talking with Casey Research Chief Economist Bud Conrad who recently presented a riveting talk during Casey Research's 2010 Crisis and Opportunity Summit. Here are four major points from his talk:
The world economy is in a calm between a credit crisis turning into a currency crisis as the collapse of the private debt bubble is replaced by a government debt bubble that will also collapse.
The world is at a point of no return for government debt as debt-to-GDP approaches 100%. When debt becomes too big, governments cannot control the interest rates and currency. The lead warning is Greece, much the same as Lehman Brothers was in the credit bubble crisis.
Peak oil. The wealth of humanity has been built on energy. Half the world's conventional oil supply is already used. That means that the quantity of oil produced each year will not increase much from the current level even as demand from developing countries like India and China increases. Wars over oil have already started. Energy prices will rise. We will see a substantial rise in the cost of food, as food production requires energy.
The U.S. can prosper and stay ahead of the rest of the world by developing and investing in three forms of technology—the Internet and cell phones, new medicines through biological breakthroughs and new sources of energy. All are good investment opportunities and are necessary for human expansion.
TGR: Today we are talking with Casey Research Chief Economist Bud Conrad who recently presented a riveting talk during Casey Research's 2010 Crisis and Opportunity Summit. Here are four major points from his talk:
The world economy is in a calm between a credit crisis turning into a currency crisis as the collapse of the private debt bubble is replaced by a government debt bubble that will also collapse.
The world is at a point of no return for government debt as debt-to-GDP approaches 100%. When debt becomes too big, governments cannot control the interest rates and currency. The lead warning is Greece, much the same as Lehman Brothers was in the credit bubble crisis.
Peak oil. The wealth of humanity has been built on energy. Half the world's conventional oil supply is already used. That means that the quantity of oil produced each year will not increase much from the current level even as demand from developing countries like India and China increases. Wars over oil have already started. Energy prices will rise. We will see a substantial rise in the cost of food, as food production requires energy.
The U.S. can prosper and stay ahead of the rest of the world by developing and investing in three forms of technology—the Internet and cell phones, new medicines through biological breakthroughs and new sources of energy. All are good investment opportunities and are necessary for human expansion.
Wednesday, May 12, 2010
Trade Balance: Actual:
-40.42 Bn, Forecast: -40.0 Bn, Previous: -39.7 Bn. Data Interpretation: Data is positive for gold and silver. It is negative for base metals and crude oil.
Tuesday, May 11, 2010
Crude oil Update:
crude still looks positive above nearest support at Rs.3466 and a move till Rs.3507 could be expected. Next best support is at 3440
Trillion dollar woes for gold!
By Geena Paul
LONDON : This week International Monetary Fund (IMF) and the European Union announced a surprise and shock package of $1 trillion for rescuing the Euro from the looming economic threat.
The bailout package, announced after the Greece economic tragedy threatened to spread to other EU nations, not only stunned the equity markets across the globe but also shocked the gold market.
Even as the equity markets zoomed following the unveiling of the bailout plan, gold prices plunged across the globe.
The reason is that with the IMF-EU scheme pledging around $1 trillion to rescue the Euro, stock markets witnessed a bull run in the US, Europe, India and other nations.
With this, gold lost its safe haven image and the metal prices plunged within hours of the unveiling of the scheme.
In fact, safe-haven buying seems to have eased for now. Now, investors will have to wait and see what the hedge funds and others do, there is still a strong chance gold can break through the record high.
Gold had hit the record of $1,226.10 last year. The world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, said its holdings stood at a record high of 1,188.498 tonnes as of May 7, from 1,185.787 tonnes in the previous business day.
In India, after the EU bailout news spread, gold prices fell over 3 percent, tracking weak overseas markets, triggering physical demand ahead of a key festival next week.
India, the world’s largest consumer of the precious metal, celebrates Akshaya Tritiya on May 16, an auspicious day to buy the yellow metal for lasting prosperity.
So, jewellers are now buying for Akshaya Tritiya after a gap of many days.
The most-traded gold June contract on the Multi Commodity Exchange was trading 2.79 percent Rs 17,433 per 10 gm on Monday.
International gold, which guides the domestic markets, was trading at $1,189.75/1,190.55 an ounce as against the previous close of $1,207.75/1,208.75.
A strong rupee, which made the dollar-quoted yellow metal cheaper, helped sentimen
LONDON : This week International Monetary Fund (IMF) and the European Union announced a surprise and shock package of $1 trillion for rescuing the Euro from the looming economic threat.
The bailout package, announced after the Greece economic tragedy threatened to spread to other EU nations, not only stunned the equity markets across the globe but also shocked the gold market.
Even as the equity markets zoomed following the unveiling of the bailout plan, gold prices plunged across the globe.
The reason is that with the IMF-EU scheme pledging around $1 trillion to rescue the Euro, stock markets witnessed a bull run in the US, Europe, India and other nations.
With this, gold lost its safe haven image and the metal prices plunged within hours of the unveiling of the scheme.
In fact, safe-haven buying seems to have eased for now. Now, investors will have to wait and see what the hedge funds and others do, there is still a strong chance gold can break through the record high.
Gold had hit the record of $1,226.10 last year. The world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, said its holdings stood at a record high of 1,188.498 tonnes as of May 7, from 1,185.787 tonnes in the previous business day.
In India, after the EU bailout news spread, gold prices fell over 3 percent, tracking weak overseas markets, triggering physical demand ahead of a key festival next week.
India, the world’s largest consumer of the precious metal, celebrates Akshaya Tritiya on May 16, an auspicious day to buy the yellow metal for lasting prosperity.
So, jewellers are now buying for Akshaya Tritiya after a gap of many days.
The most-traded gold June contract on the Multi Commodity Exchange was trading 2.79 percent Rs 17,433 per 10 gm on Monday.
International gold, which guides the domestic markets, was trading at $1,189.75/1,190.55 an ounce as against the previous close of $1,207.75/1,208.75.
A strong rupee, which made the dollar-quoted yellow metal cheaper, helped sentimen
CRUDE ALERT:
crude reached $76,tht we suggested, more weakness to $75-$74.2 it may find support around $73.40,sell on rise would be strategy.
Monday, May 10, 2010
Friday, May 7, 2010
Gold
Gold is headed for a test of resistance at $1220*, though we are likely to see retracement to test support at $1160 in the short term. Rising Momentum (21-day) confirms the up-trend. Reversal below $1140 is unlikely, but would warn of a bull trap — and test support at $1080.
=========================================================================
Crude Oil
Crude retreated sharply after a false break above the broadening wedge formation. Reversal below the lower border would warn of a bear trap — and test of primary support at $70. Momentum completed a small bearish divergence, warning of a correction. Respect of support at $82 is unlikely, but would suggest an advance to $98*.
=========================================================================
US Dollar Index
The US Dollar Index rallied sharply to reach its target of 84*. Retracement to test the new support level is likely; a short retracement would signal further gains. Twiggs Momentum (21-day) breakout above the declining trendline confirms a fresh primary advance
Gold is headed for a test of resistance at $1220*, though we are likely to see retracement to test support at $1160 in the short term. Rising Momentum (21-day) confirms the up-trend. Reversal below $1140 is unlikely, but would warn of a bull trap — and test support at $1080.
=========================================================================
Crude Oil
Crude retreated sharply after a false break above the broadening wedge formation. Reversal below the lower border would warn of a bear trap — and test of primary support at $70. Momentum completed a small bearish divergence, warning of a correction. Respect of support at $82 is unlikely, but would suggest an advance to $98*.
=========================================================================
US Dollar Index
The US Dollar Index rallied sharply to reach its target of 84*. Retracement to test the new support level is likely; a short retracement would signal further gains. Twiggs Momentum (21-day) breakout above the declining trendline confirms a fresh primary advance
Thursday, May 6, 2010
Gold Extends Gains on Safe-Haven Buying as Stock Markets, Crude Oil Slump
Comex gold futures have extended gains and are trading solidly higher and near the weekly high Thursday at midday. June gold was last traded up $15.00 an ounce at $1,190.00. Bulls are now eyeing pushing gold prices above psychological resistance at $1,200.00 an ounce. Safe-haven buying of gold in the face of the ongoing European Union sovereign debt crisis continues to support the market. Buying interest in gold was also accentuated Thursday at midday when U.S. stock indexes weakened further, while crude oil prices also sold off further and are trading at 2.5-month lows.
Unemployment Claims
Actual: 444K, Consensus: 441K, Previous: 448K. Data is positive for gold and silver. It is negative for base metals and crude oil.
52 Week Calls..........!
Look @ Ashok Leyland
Our 60 or 65 (1st & 2nd) Target Achived.......!
I Hope Every Buddy Enjoying This Call
Check Below Showing Link
http://stocksandeep.blogspot.com/2010/03/52-week-call.html
Our 60 or 65 (1st & 2nd) Target Achived.......!
I Hope Every Buddy Enjoying This Call
Check Below Showing Link
http://stocksandeep.blogspot.com/2010/03/52-week-call.html
Wednesday, May 5, 2010
Nickel Update:
Nickel has broekn through resistance at 1002.50 and is now likely to test 1021 which is the nearest resistance
Nickel Update
Nickel has immediate resistance at 1002.5 which could keep it under pressure. Immediate supports are at 987 and then 974. However, an upside break could take prices higher till 1021.
Trading Range
Gold 16988-17462
Silver 26774-28958
Crude 3639-3899
Copper 307.3-332.3
Nickel 1035.2-1210.2
Sender Not reponsible.
Silver 26774-28958
Crude 3639-3899
Copper 307.3-332.3
Nickel 1035.2-1210.2
Sender Not reponsible.
Tuesday, May 4, 2010
Monday, May 3, 2010
Commodities News
Crudeoil
Meanwhile, the Obama administration has banned oil drilling in new areas off the US coast until an investigation into the cause of the massive oil spill in the Gulf of Mexico originated early this week.
----------------------------------------------------------------------------
Gold
Gold ended higher as investors bought the metal as a hedge against sovereign credit risk
Support for the gold is seen at 17070 and resistance is at 17160.
In spot support for the gold is seen at 1166$ and resistance is at 1194$.
Meanwhile, the Obama administration has banned oil drilling in new areas off the US coast until an investigation into the cause of the massive oil spill in the Gulf of Mexico originated early this week.
----------------------------------------------------------------------------
Gold
Gold ended higher as investors bought the metal as a hedge against sovereign credit risk
Support for the gold is seen at 17070 and resistance is at 17160.
In spot support for the gold is seen at 1166$ and resistance is at 1194$.
