Commodity News

GOLD INTRADAY LEVELS:


Indian Business Trade

Buy  above: 29681.91   Targets: 29710.14 --- 29753.23 --- 29796.36 --- 29839.52
Stoploss : 29638.85
Sell  below: 29638.85   Targets: 29610.63 --- 29567.62 --- 29524.63 --- 29481.68
Stoploss : 29681.91

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SILVER INTRADAY LEVELS:


Indian Business Trade

Buy  above: 37711   Targets: 37740.68 --- 37789.26 --- 37837.86 --- 37886.49
Stoploss : 37662.46
Sell  below: 37662.46   Targets: 37632.77 --- 37584.28 --- 37535.82 --- 37487.38
Stoploss : 37711

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CRUDEOIL INTRADAY LEVELS:


Indian Business Trade

Buy  above: 4728.56   Targets: 4743.40 --- 4760.63 --- 4777.89 --- 4795.18
Stoploss : 4711.38
Sell  below: 4711.38   Targets: 4696.59 --- 4679.47 --- 4662.38 --- 4645.32
Stoploss : 4728.56

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NATURALGAS INTRADAY LEVELS :


Indian Business Trade

Buy  above: 205.4   Targets: 208.89 --- 212.52 --- 216.18 --- 219.87
Stoploss : 201.83
Sell  below: 201.83   Targets: 198.40 --- 194.89 --- 191.41 --- 187.97
Stoploss : 205.4

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COPPER INTRADAY LEVELS:


Indian Business Trade

Buy above: 423.6   Targets: 428.55 --- 433.74 --- 438.96 --- 444.21
Stoploss : 418.47
Sell  below: 418.47   Targets: 413.58 --- 408.51 --- 403.47 --- 398.46
Stoploss : 423.6

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NICKEL INTRADAY LEVELS:

 

 

 


Indian Business Trade

Buy  above: 946.2   Targets: 953.43 --- 961.16 --- 968.93 --- 976.72
Stoploss : 938.52
Sell  below: 938.52   Targets: 931.35 --- 923.73 --- 916.15 --- 908.59
Stoploss : 946.2

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LEAD INTRADAY LEVELS:


Indian Business Trade

Buy  above: 150.4   Targets: 153.41 --- 156.52 --- 159.66 --- 162.83
Stoploss : 147.35
Sell  below: 147.35   Targets: 144.40 --- 141.41 --- 138.46 --- 135.53
Stoploss : 150.4

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ZINC INTRADAY LEVELS:


Indian Business Trade

Buy  above: 176.96   Targets: 180.21 --- 183.58 --- 186.98 --- 190.42
Stoploss : 173.65
Sell  below: 173.65   Targets: 170.46 --- 167.21 --- 163.99 --- 160.80
Stoploss : 176.96

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ALUMINIUM  INTRADAY LEVELS:


Indian Business Trade

 

Buy  above: 145.55   Targets: 148.51 --- 151.57 --- 154.66 --- 157.79
Stoploss : 142.54
Sell  below: 142.54   Targets: 139.65 --- 136.71 --- 133.80 --- 130.93
Stoploss : 145.55

 

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World Market News

Oil prices fall on rising US crude inventories, darkening economic outlook


Indian Business Trade

Front-month Brent crude oil futures were at $72.14 per barrel at 0021 GMT, down by 32 cents, or 0.4 percent, from their last close. Oil prices fell on Wednesday, pulled down by a report of increased U.S. crude inventories and as a darkening economic outlook stoked expectations of lower fuel demand. Front-month Brent crude oil futures were at $72.14 per barrel at 0021 GMT, down by 32 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were down 34 cents, or 0.5 percent, at $66.70 per barrel. U.S. crude stocks rose by 3.7 million barrels in the week to Aug. 10, to 410.8 million barrels, private industry group the American Petroleum Institute (API) said on Tuesday. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.6 million barrels, the API said. "Oil prices ... fell after the API inventory data showed an unexpected crude build last week," said William O'Loughlin, investment analyst at Australia's Rivkin Securities. Official U.S. fuel inventory data is due to be published later on Wednesday by the Energy Information Administration. Sentiment was also clouded by a darkening economic outlook which could start impacting oil demand, traders said. The OECD's composite leading indicator, which covers the western advanced economies plus China, India, Russia, Brazil, Indonesia and South Africa, peaked in January but has since fallen and slipped below trend in May and June.

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Copper futures end lower on global growth concerns


Indian Business Trade

Copper futures ended lower on Wednesday as concerns mount that Turkey’s financial crisis and the US-China trade spat will curb global economic growth. Copper prices were also hit by easing supply concerns. BHP Billiton and the union at the world’s biggest mine in Chile agreed to put a new wage offer to a vote by workers, potentially saving the industry from a strike that threatened to disrupt supply at a time of shrinking stockpiles.

Copper futures for September delivery shed 4.5 percent to settle at $2.56 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended down 4.02 percent at $5,801 a metric ton.

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Gold futures end lower on Wednesday


Indian Business Trade

Gold futures ended lower on Wednesday, as the American currency strengthened and climbed towards its highest in over a year on concerns about global market contagion triggered by recent declines in the Turkish lira. Further, strengthening of local currencies due to gold liquidation from emerging markets also pressured bullion.

Gold futures for December delivery settled down $15.70, or 1.3 percent, at $1,198.90 per ounce, on the Comex division of the New York Mercantile. While, spot gold was down 1.3 percent at $1,178.33 per ounce.

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Crude oil futures end lower after unexpected rise in US crude inventories


Indian Business Trade

Crude oil futures ended lower on Wednesday after data showed an unexpected and surge in US crude inventories. The Energy Information Administration (EIA) said crude inventories rose 6.8 million barrels in the week ended August 10. Besides, prices have been on a downward trend after the release of the American Petroleum Institute (API) data on Tuesday afternoon. The American Petroleum Institute said stocks had risen by 3.7 million barrels. The confirmation by the EIA drove prices lower as traders continue to monitor the situation between the US and Turkey. Certainly, concerns about Turkey and the possibility that spillover effects from the country’s currency crisis could affect global growth and demand for crude have been cited as a weight on overall commodity prices.

Benchmark crude oil futures for September plunged $2.03 or 3 percent to settle at $65.01 a barrel on the New York Mercantile Exchange. October Brent crude dropped $1.70 or 2.4 percent at $70.76 a barrel on London’s Intercontinental Exchange.

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Crude oil futures end lower on Monday


Indian Business Trade

Crude oil futures ended lower on Monday after tumbling sharply on expectations for an increase in crude stocks at the delivery hub for US futures and data showing a pickup in production by the Organization of the Petroleum Exporting Countries (OPEC). The OPEC said production by cartel members rose by 41,000 barrels a day in July even as output by Saudi Arabia fell. Moreover, Turkey’s currency crisis appeared to put some indirect pressure on US oil futures on Monday. Turkey’s currency dropped again on Monday, sending shock waves through other emerging markets.

Benchmark crude oil futures for September declined 43 cents or 0.6 percent to settle at $67.20 a barrel on the New York Mercantile Exchange. October Brent crude fell $1.49 or 0.3 percent at $72.61 a barrel on London’s Intercontinental Exchange.

 

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