COMMODITY NEWS AND TIPS

COMMODITY ANALYSIS

It was a very fine day for those who trade in silver and gold both these precious metal gave a positive run and settled in a very positive tone giving good chances of decent start on next trading session.In gold there was a larger number of short sellers but gold upset them all it is expected that gold can break its all time high very soon and can set new high records silver was also on fire and it gained almost 1.5% and closed for a good next trading session.

CRUDE also bullish but it didn't do much as it moved very side ways all through the day it swinged for the whole day between 4900 and 4950 point but was unable to do much.

AT THE FOREFRONT COMMODITY WEEK

We expect gold to trade to one side bias this week, taking sundry cues from a weaker dollar and rise in risk appetite in the markets.

Base metals are expected to trade higher in coming week, on the back of upbeat sentiments in the global markets coupled with dollar weakness.

However, if there is any negative news or developments from the Euro Zone then it will lead downside in the base metals.

Aluminum is expected to trade lower next week as cues from increase in Shanghai inventories coupled with rise in trading margin by SHFE.

crude oil prices are expected to trade higher on account of a weaker dollar, expected winter demand and positive sentiments in the global markets.

COMMODITY NEWS AND TRADING LEVELS FOR 11th NOVEMBER 2011

COMMODITY NEWS & tips

CRUDE GAVE A RUN OF THE LIFE TIME AND MADE A HIGH OF 4953 BUT UPSET FOR GOLD AND SILVER AS BOTH THESE METALS WENT DOWN AND GAVE A SLIGHTLY DOWNWARD CLOSING.

Bullish boosters to gold

Due to the oscillating European crisis people are rushing towards the safe haven, which may propel MCX Gold to a high of Rs 30,000 in Nov-Dec with prices trading in a range of Rs 26,000-Rs 30,000 Apart from safe haven buying due to the Euro zone crisis, there are some other factors that have been affecting bullion prices. One is that if the US Federal Reserve moves to introduce more liquidity at some point through another round of Quantitative Easing that would also provide a boost to gold prices. Another factor has been the high rate of inflation plaguing emerging markets.

COMMODITY TRADING LEVELS FOR 11^th NOVEMBER 2011

COPPER (Nov) – Copper’s Nov contract which is going to expire on 30 Nov 2011, is expected to trade between the broad ranges of 370 to 400 Expected resistance and support level for today trade are as follows.

RESISTANCE:  R1- 384 R2- 390

SUPPORT:       S1- 372 S2- 365

CRUDE OIL (Jul) – Expected resistance and support levels for the crude July contract with expiry date of 17 nov 2011 are:

RESISTANCE:  R1-4960 R2 – 5000

SUPPORTS:     S1-4920 S2 - 4865

GOLD (dec) - Gold august contract which will expire on 5^th Dec 2011.gold is deviating as the US debt default concern made the investors cautious. Resistance and support levels for the today’s session are:

RESISTANCE:  R1-28950 R2-29200

SUPPORTS:     S1-28430 S2-28100

SILVER (Sep) - Silver closed at 57118.00.silver traded in huge volatility. Expected resistance and support level for today trade are as follows.

RESISTANCE:  R1-57600 R2-58000

SUPPORTS:     S1-56500 S2-56150