Gold slightly higher in light holiday trade in Asia

Gold futures edged higher during Monday’s Asian session amid light holiday trade. Markets in Hong Kong and China are closed for Lunar New Year festivities. 

On the Comex division of the New York Mercantile Exchange, gold futures for March delivery added 0.04% to USD1,667.65 per troy ounce in Asian trading Monday. The contract traded as high as USD1,669.75 and as low as USD1,666.90 per ounce. 

Gold prices were likely to find support at USD1,653.35 a troy ounce, the low from January 28 and near-term resistance at USD1,685.65, February 5’s high. Last week, gold futures fell modestly, losing 0.1%. 

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11-FEB-2013 INTRADAY LEVELS FOR MCX COMMODITY MARKET

11-FEB-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	113.05	113.50	114.30	111.80	111.00	110.55
COPPER	448.25	449.95	453.20	443.30	440.10	438.35
CRUDEOIL	5171	5198	5221	5121	5098	5071
GOLD	30849	30903	30965	30733	30671	30617
LEAD	130.70	131.25	132.05	129.35	128.55	127.95
NATURALGAS	178.40	180.00	181.30	175.50	174.20	172.60
NICKEL	990.00	995.90	1003.90	976.10	968.10	962.20
SILVER	58436	58660	58895	57977	57742	57518
ZINC	118.80	119.80	121.60	116.00	114.20	113.20

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Crude oil posts slight rally after positive economic data

Oil prices rallied slightly in Asian trading on Thursday as traders priced in economic data that showed that the employment situation was improving in Australia and New Zealand. At the same time, investors eagerly awaited the European Central Bank’s interest rate decision.

On the New York Mercantile Exchange, oil futures for March delivery were up just 0.14% at

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MCX COMMODITY INTRADAY LEVELS (06-FEB-2013)

06-FEB-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	111.95	112.45	112.80	111.10	110.75	110.25
COPPER	444.20	445.85	446.95	441.45	440.35	438.70
CRUDEOIL	5162	5179	5198	5126	5107	5090
GOLD	30762	30926	31031	30493	30388	30224
LEAD	130.85	131.40	131.95	129.70	129.10	128.55
NATURALGAS	180.10	181.30	182.90	177.30	175.70	174.50
NICKEL	997.40	1000.50	1005.70	989.10	983.90	980.80
SILVER	58747	59137	59485	58009	57661	57271
ZINC	115.55	115.95	116.40	114.70	114.25	113.85

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05-FEB-2013 INTRADAY LEVELS FOR MCX COMMODITY MARKET

05-FEB-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	112.75	113.45	113.95	111.55	111.05	110.35
COPPER	446.50	447.95	449.95	442.95	440.95	439.50
CRUDEOIL	5176	5209	5234	5118	5093	5060
GOLD	30890	31001	31202	30578	30377	30266
LEAD	131.20	131.80	132.30	130.10	129.60	128.95
NATURALGAS	180.60	182.40	185.30	175.90	172.90	171.20
NICKEL	997.70	1002.30	1007.20	988.20	983.30	978.70
SILVER	58749	59081	59500	57998	57579	57247
ZINC	116.15	116.55	117.15	115.15	114.55	114.15

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MCX COMMODITY INTRADAY LEVELS (04-FEB-2013)

04-FEB-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	112.95	113.75	114.90	111.10	109.95	109.20
COPPER	446.20	448.20	452.00	440.40	436.60	434.60
CRUDEOIL	5218	5254	5293	5143	5104	5068
GOLD	30757	30915	31020	30494	30389	30231
LEAD	131.30	131.95	133.15	129.45	128.25	127.60
NATURALGAS	179.70	183.00	185.20	174.20	172.00	168.70
NICKEL	994.10	998.70	1007.00	981.20	972.90	968.30
SILVER	59055	59608	60271	57839	57176	56623
ZINC	115.75	116.45	117.65	113.85	112.65	111.95

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01-FEB-2013 INTRADAY LEVELS FOR MCX COMMODITY MARKET

01-FEB-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	112.05	112.95	113.50	110.60	110.05	109.15
COPPER	443.65	447.20	449.50	437.80	435.50	431.95
CRUDEOIL	5228	5255	5282	5174	5147	5120
GOLD	30815	31049	31189	30441	30301	30067
LEAD	130.80	131.95	132.90	128.70	127.80	126.60
NATURALGAS	182.10	185.90	190.10	174.10	169.90	166.10
NICKEL	989.60	998.50	1006.70	972.50	964.30	955.40
SILVER	58798	59747	60410	57186	56523	55574
ZINC	115.00	116.05	116.85	113.15	112.35	111.30

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MCX COMMODITY INTRADAY LEVELS (31-01-2013)

31-JAN-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	110.75	111.45	112.65	108.85	107.65	106.95
COPPER	443.65	445.20	447.95	439.35	436.60	435.05
CRUDEOIL	5235	5261	5282	5188	5167	5141
GOLD	30341	30464	30632	30050	29882	29759
LEAD	130.65	131.35	132.50	128.80	127.65	126.95
NATURALGAS	179.80	181.40	183.90	175.70	173.20	171.60
NICKEL	984.60	993.50	1010.40	958.80	941.90	933.00
SILVER	59563	60064	60990	58136	57210	56709
ZINC	114.40	115.10	116.35	112.35	111.05	110.40

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Oil near flat as US economy contracts

Crude oil was largely unchanged in Asian trading on Thursday as investors priced in a weakening U.S. economy with continued monetary expansion. On the New York Mercantile Exchange, light sweet crude futures for March delivery were up just 0.02% at USD97.96 per barrel ounce in Asian trading, up from a session low of USD97.94 and down from a high of USD98.12 per barrel. Gold futures were likely to test support at USD95.47 per barrel, the low from January 22, and resistance at USD99.30, the high back on August 15. On Wednesday, the U.S. GDP report showed that the economy contracted in the last quarter, declining about 0.1%. Economists had been anticipating an increase of 1.1%. At the same time, the GDP price index rose only 0.6% from the prior quarter while economists had been expecting an increase of 1.5%. GDP is considered by many to be the best indicator for total economic growth in an economy. Consistent GDP contraction is used to officially declare periods of economic recession and depression. With the U.S. economy showing signs of weakness, demand for energy assets like crude oil might be anticipated to decline. Less economic growth would correspond to lower demand for energy -- the lifeblood of the economy. However, continued monetary easing from the Federal Reserve could have a counter effect. Along with the GDP report, Wednesday also brought the official decision from the Federal Reserve’s Open Market Committee (FOMC). The FOMC opted to leave rates near 0% while continuing to inject about $85 billion per month into the economy. This continued easing from the FOMC might be seen as inflationary by oil market participants, and therefore stoke demand for hard assets like crude oil. Elsewhere, on the ICE Futures Exchange, Brent oil futures for March delivery were roughly unchanged trading at USD115.10 a barrel, with the spread between the Brent and crude contracts standing at USD17.14 per barrel.

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Courtesy: INVESTING.COM

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INTRADAY LEVELS FOR MCX COMMODITY MARKET(30-JAN-13)

30-JAN-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	109.20	109.85	110.70	107.70	106.85	106.20
COPPER	439.40	440.85	442.95	435.85	433.75	432.30
CRUDEOIL	5253	5279	5309	5197	5167	5141
GOLD	30338	30443	30504	30172	30111	30006
LEAD	128.90	129.35	130.05	127.65	126.95	126.50
NATURALGAS	179.70	184.00	186.40	173.00	170.60	166.30
NICKEL	956.80	961.00	968.30	945.30	938.00	933.80
SILVER	58054	58201	58373	57735	57563	57416
ZINC	112.20	112.85	113.55	110.85	110.15	109.50

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