COMMODITY NEWS AND TRADING LEVELS FOR 7TH MAY 2012

Commodity Trading Levels

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

SUPPORT 1: 436.55

SUPPORT 2: 432.25

RESIST 1: 444.65

RESIST 2: 448.75

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 MAY contract with expiry date of MAY 2012 are:

SUPPORT 1: 5415

SUPPORT 2: 5305

RESISTANCE 1: 5605

RESISTANCE 2: 5715

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: 29015

SUPPORT 2: 28865

RESISTANCE 1: 29315

RESISTANCE 2: 29485

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

SUPPORT 1: 55140

SUPPORT 2: 55045

RESISTANCE 1: 55365

RESISTANCE 2: 55495

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Market Overview

Weekly Recap - Week ending 04-May-12Stocks were up nicely a few days ago, but fell in the last three sessions to finish the week at a low point, giving the S&P 500 a 2.4% weekly loss -- its worst weekly performance of the year. The sell-off on Friday followed a disappointing jobs report and concerted selling of the market's most influential sectors.

Daily Commodity News Updates

Gold in euro terms could be back into focus in the coming weeks due to rising euro risks, said Union Bank of Switzerland (UBS) in a commodity briefing.

Copper supply growth to face further disappointments in 2012 and 2013, said Deutsche Bank, the largest bank in Germany, in a weekly commodities report.

With the European Union (EU) sanctions just months away, Iranian oil production has dipped to its lowest level in 20 years. Iran is one of the biggest producers and exporters of crude oil in the world.

Less-than-stellar global economic data so far this week has pressured most industrial commodities, said TD Securities (TDS) in a commodities briefing. TDS is the global wholesale banking arm of Toronto-Dominion Bank Financial Group.

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