COMMODITY NEWS AND TRADING LEVELS FOR 25TH APRIL 2012

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COPPER (APR) – Expected resistance and support level for today trade are as follows:

SUPPORT 1: 5345

SUPPORT 2: 5255

RESISTANCE 1: 5495

RESISTANCE 2: 5575

CRUDE OIL (MAY) – Crude Oil prices have been rising for several months amid an EU states' boycott of oil supplies from Iran, Oil traders are also concerned about the possibility of a future war with Iran as well as wider political instability in the Middle East, including the crisis in Syria. Expected resistance and support levels for the crude APR contract with expiry date of MAY 2012 are:

SUPPORT 1: 5345

SUPPORT 2: 5255

RESISTANCE 1: 5495

RESISTANCE 2: 5575

GOLD (JUNE) - Gold’s ability to edge higher at the start of the week is impressive considering the lack of retail jewelry demand in India due to a protest by jewelers. Resistance and support levels for the today’s session for Gold JUNE contract which will expire on JUNE 2012 are:

SUPPORT 1: 28725

SUPPORT 2: 28610

RESISTANCE 1: 28960

RESISTANCE 2: 29055

SILVER (MAY) – On domestic front Silver’s Expected resistance and support levels for today trade are as follows:

SUPPORT 1: 55525

SUPPORT 2: 55410

RESISTANCE 1: 55775

RESISTANCE 2: 55885


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Daily Commodity News Bulletin

The CESCO /CRU annual global copper conference brings together key producers, consumers as well as traders and analysts, with the plan of sharing views and insights on the copper market. Several key themes emerged over the week.

Expectations for 2012 mine production continue to be revised lower as a variety of issues combine to weigh on output performance. Less than six months ago the market had expected this to be a bumper year for copper mine production but feedback from the miners we spoke to suggests more moderate growth is likely. People, power, and permitting are the key challenges for mining companies, and, alongside an increasingly hostile geopolitical environment, capital costs for projects are rising, leading miners to acknowledge the need to work with higher long-term price assumptions for future projects to be realised.

At the Multi Commodity Exchange of India (MCX), gold prices are trending down in morning trade on Wednesday despite stronger Akshaya Tritiya sales on Tuesday.

MCX gold June contract is trading at Rs 28798, down 0.26% as of 10:51 AM IST while MCX silver May contract is trading down by 0.32% at Rs 55520. At the COMEX, gold futures are trading lower while silver is trending up.

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