Polyus Gold sees 2013 production at 1.8 million ounces

First time after Russian billionaire Mikhail Prokhorov announced plans to sell his stakes, Polyus Gold International Ltd , the largest gold producer in Russia announced increase in gold production.

In a statement, the company said its 2012 refined gold production rose 12% on the year to a record 1.68 million ounces, exceeding its production target by 5% with even stronger results expected in 2013.

The company sees total 2012 gold sales are estimated at $2.8 billion, up 22% from $2.3 billion a year earlier.

Polyus Gold sees 2013 production between 1.7 million and 1.8 million ounces of gold (1.59 million to 1.68 million excluding assets in Kazakhstan).

It said the increase in 2012 refined gold production is a result of higher gold output at all Russian operations, including significant increases at Olimpiada (+15%), Blagodatnoye (+11%) and Kuranakh (+19%), as well as the start-up of Verninskoye.

Fourth-quarter refined gold production totaled 478 thousand ounces, up by 22% compared with 391 thousand ounces in the fourth quarter of 2011, the company said.

Polyus has reaffirmed its commitment to start commissioning a 10 million ton-per-year processing plant at Natalka by Dec. 31 2013. Total capex for Natalka is now expected to be between $1.7 and $1.8 billion.

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INTRADAY MARKET VIEW (29-JAN-2013)

29-JAN-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	109.40	109.85	110.35	108.45	107.95	107.50
COPPER	440.10	441.80	443.80	436.40	434.40	432.70
CRUDEOIL	5240	5268	5300	5180	5148	5120
GOLD	30417	30497	30566	30268	30199	30119
LEAD	128.95	129.70	131.00	126.90	125.60	124.85
NATURALGAS	186.60	191.70	195.50	177.70	173.90	168.80
NICKEL	954.90	961.30	973.10	936.70	924.90	918.50
SILVER	58252	58741	59029	57475	57187	56698
ZINC	112.40	113.02	113.80	110.95	110.25	109.60

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LME MORNING - Base metals steady, high expectations for FOMC meeting

London 12/12/2012 - Base metals were back in positive territory in Wednesday's premarket, helped by a steadier euro - last at 1.3017 against the dollar - and expectations of further economy-boosting monetary measures in the US. “Metals are steady with a slightly stronger euro, moderately positive economic data and the prospect of continued stimulus by the US Fed,” a trader said. "Technically, the chart picture suggests the path of least resistance is to the upside."

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How to buy Gold, Silver, Platinum and Palladium

By Heather Connon There is a wide range of ways to get access to gold; for the other precious metals, however, the choice is more limited, with exchange traded products (ETPs) providing the best access. Nicholas Brooks, head of research at ETF Securities, says that only gold, silver, platinum and palladium are actively traded. Gold has attracted huge investment with platinum, too, enjoying good recent inflows as investors have sought to hedge their exposure to strike-hit platinum producers. For platinum and palladium, there are only physically-backed securities while,

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Copper futures trade near 7-week high ahead of FOMC

Copper futures traded just below a seven-week high during European morning hours on Wednesday, as market players looked ahead to the Federal Reserve’s policy decision later in the day amid expectations for further easing. Investors also continued to monitor negotiations among U.S. lawmakers to avoid the looming “fiscal cliff” crisis. On the Comex division of the New York Mercantile Exchange, copper futures for March delivery traded at USD3.708 a pound during European morning trade, up 0.6% on the day.

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Base metals strong but ease back from highs, eurozone data weighs

London 10/12/2012 - Base metals rose in start-of-week trading, with several hitting multi-week highs, boosted by positive Chinese data over the weekend. But disappointing eurozone numbers and a softer euro capped gains. This morning, the German trade balance disappointed at 15.2 billion euros against a forecast of 15.9 billion euros, while French and Italian industrial production at -0.7 percent and -1.1 percent respectively were also under par. Sentix investor confidence at -16.8 undershot the expected -16.2. The euro stepped back to 1.2902 against the dollar, down around a fifth of a cent. And in Italy, Prime Minister Mario Monti’s pledge to tender his resignation once the Italian government has approved the 2013 budget has unsettled markets and pushed up the country’s borrowing rates.

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Today Market View (INTRADY LEVELS)

11-DEC-2012	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	115.78	116.67	117.88	113.68	112.47	111.58
COPPER	451.17	453.63	456.82	445.52	442.33	439.87
CRUDEOIL	4729	4757	4776	4682	4663	4635
GOLD	31591	31689	31819	31363	31233	31135
LEAD	125.70	127.10	129.60	121.80	119.30	117.90
NATURALGAS	191.57	195.73	198.17	184.97	182.53	178.37
NICKEL	980.00	992.00	1012.00	948.00	928.00	916.00
SILVER	63256	63564	63863	62649	62350	62042
ZINC	113.60	114.80	116.65	110.55	108.70	107.50

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Gold futures fall to lows of the day as Draghi speaks

Gold futures traded at the lowest level of the session during U.S. morning hours on Thursday, after European Central Bank President Mario Draghi maintained a downbeat outlook on the euro zone economy. Market players also continued to monitor negotiations among U.S. lawmakers to avoid the looming “fiscal cliff” crisis, while looking ahead to Friday’s key U.S. nonfarm payrolls data. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,688.85 a troy ounce during U.S. morning trade, down 0.25% on the day. Prices fell by as much as 0.35% earlier in the day to trade at a session low of USD1,687.35 a troy ounce. Gold prices were likely to find support at USD1,672.55 a troy ounce, the low from November 5 and resistance at USD1,708.25, the previous day’s high.

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Stock futures flat ahead of jobless claims

U.S. stock index futures were little changed Thursday as investors awaited data on weekly jobless claims, amid a lack of progress on talks aimed at averting the so-called fiscal cliff.


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