COMMODITY WRAPUP
GOLD
MCX GOLD February contract was closed at Rs 29205 down Rs 389, or
01.31%. The GOLD rate touched an intraday
high of Rs 29523 and an intraday low of Rs 28953. So far
19447 contracts have been traded. Gold Price is taking
support
at 28953 and trade in narrow range all day. In evening
session gold price break the nearest support of 29280 and
made
new high of 29523
BUY GOLD FEB ABOVE 29450 TGT 29530/29630 SL 29350
SELL GOLD FEB BELOW 29160 TGT 29060/28940 SL
29280
SILVER
MCX SILVER march contract was closed at Rs 44461 down Rs -616, or -1.37 percent. The SILVER rate touched an intra-
day high of Rs 44739 and an intraday low of Rs 43851. So far 23952 contracts have been traded. Silver opened at morning
with gap down and made day low.In mid session silver trade in narrow range and made night high. After 9.30 p.m. Have
seen more buying pressure in silver and it will helpful to break the nearest resistance of 44950.
BUY SILVER MAR ABOVE 44920 TGT 45120/45420 SL 44620
SELL SILVER MAR BELOW 44290 TGT 44090/43790 SL 44590
SPECIAL NEWS
The U.S. Census Bureau said new home sales rose by 25.4% to a seasonally adjusted 444,000 units in No- vember, beating expectations for an increase to 428,000 and hitting a four-month high.
Private-sector employment picked up in November, as employers added 215,000 jobs, Automatic Data
Processing Inc. reported Wednesday. On Wednesday ADP revised October's gain to 184,000. Marking the strongest month of hiring in a year. data stoked expec- tations for a strong reading from the Labo Depart- ment’s November jobs report on Friday. while sepa- rate data showed sales of new homes jumped more than 25% in October.
Deutsche Bank AG (DBK) is cutting about 200 com- modities jobs, joining the world’s largest financial
firms in reducing headcount to the lowest since 2009 as prices for everything from energy to metals head
for the first annual drop since the recession.
COMMODITY BUZZ
Total U.S. crude oil inventories stood at 385.8 million barrels. OPEC's decided to leave output unchanged
through the first half of 2014 at 30 million barrels a day also supported the oil prices yesterday. Better-
than-expected data out of the U.S. housing and labor market also pushed up crude prices by fanning hopes for a more sustained economic recovery down the road in the U.S., the world's largest consumer of crude.
Organization of the Petroleum Exporting Countries (OPEC) decided to keep pumping 30 million barrels
per day crude oil at least till the end of first half of 2014. However, the members of the organization Iraq
and Iran, having set higher production targets.
The buyers of the Alluminium suing over allegations of price manipulation are scattered across the U.S.
The defendants are accused of constricting aluminum supplies to drive up prices in violation of U.S.antitrust law.
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