Daily Turnover

Quick Bits

1. Gold April’11 delivery settled 0.04% higher at Rs.20514/10gm yesterday.
   

   Gold April'11 Chart

2. Silver March’11 delivery settled 1.94% higher at Rs.47177/kg yesterday.
   

   Silver April'11 Chart

3. COMEX gold April’11 delivery settled 0.69% higher at $1384/oz yesterday.
4. Silver March’11 delivery settled 2.99% higher at $31.57/oz yesterday.
5. U.S. Labor Department reported yesterday that initial jobless claims rose 25,000
6. last week. Total jobless claims now stood at 410,000.
7. U.S. consumer price increased 0.4% in January.
8. Increase in producer hedging created supply tightness in physical silver market

News @Energy

1. Crude Feb’11 settled 0.64% higher at Rs.3896/barrel yes-terday.
2. Natural gas Feb’11 settled 2.69% lower at Rs.175.80/mmbtu yesterday.
3. NYMEX crude oil March’11 settled 1.59% higher at $86.36/barrel yesterday.
4. Fresh tension erupted in middle east after protesters clashed with police in Bahrain, Yemen and Libya.
5. U.S. Secretary of State Hillary Clinton urged the concerned gov-ernments to ease tension.
6. U.S. natural gas daily average consumption decreased 17.1%.

Crude Feb '11 Chart

News @Base Metals

1. Copper February’11 settled 0.28% lower at Rs.447.90/kg yesterday.
2. Lead Feb’11 settled 0.67% lower at Rs.118.20/kg yesterday.
3. LME copper 3 months forward settled 0.29% higher at $9879/ton.
4. World Bureau of Metal Statistics reported that global copper sur-plus narrowed to 20,000 tons in 2010 from 410,000 tons in 2009.
5. U.S. manufacturing data showed that it expanded in the Philadel-phia region in February at fastest rate in seven years. Philadelphia is the manufacturing hub in U.S.
6. U.S. Consumer Board index of leading indicators rose in January for seventh straight month.

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Buy copper
target 464 465
Stoploss of 457

Momentum Call:
Sell Gold MCX April in the range of 19985-19980,
Target 19930
SL 20015

Buy crude
cmp 4185
sl 4150
Targets 4210 4230 4270

SOYABEAN (FEB)
VIEW TREND-BEARISH STRATEGY
SELL ON HIGHS
RES1-2485 RES2- 2522
SUPP1-2410 SUPP2- 2365

Quick Bits

1. Gold February’11 delivery settled lower by 0.64% at Rs.19926/10gm on Saturday
2. Silver for March 11’ delivery settled lower by 0.60% at Rs.42998/kg on Saturday.
3. U.S. 30-yr treasury bond gained for the first time on weekly basis this month.
4. Polyus Gold, Russia’s largest gold miner, said that their full year production in 2010 was up by 10% from the previous year to 1.39 million troy ounce.
5. Gold assets in exchange traded products fell to 2,041.25 tons till January 27. Total holdings were 2,114.6 tons on Dec. 20, 2010.
6. U.S. President Barack Obama appealed an “orderly transition” to democracy in Egypt.

News @Energy

1. Crude Feb’11 settled higher by 0.19% at Rs.4116/barrel on Saturday.
2. Natural gas Feb’11 contract settled higher by 1.24% at Rs.202.70/mmbtu.
3. CFTC reported that money managers cut net long position in U.S. crude futures by 19% to 155,487 lots till January 25.
4. In its latest report, EIA said that they are expecting WTI crude prices to average $93/barrel this year.
5. EIA expects that natural gas inventories to remain at record high level through most of 2011.

News @Base Metals

1. Copper February’11 settled lower by 0.27% at Rs.441.50/kg on Saturday.
2. Lead January’11 settled lower by 0.48% at Rs.114.95/kg on Saturday.
3. China daily reported that fabricators may likely to stock less cop-per ahead of lunar year holiday.
4. Refined production capacity utilization rate increased to 79.3% in first 10 months of 2010 compared with 77.1% during the same period in 2009.
5. Copper inventories dropped by 0.9% to 129,250 tons in Shanghai last week.

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• Gold February’11 delivery settled lower by 0.49% at Rs.19897/10gm. Silver for March 11’ delivery settled lower by 1.42% at Rs.41745/kg on Tuesday.
• COMEX gold for February’11 delivery settled higher by 0.05% to $1333/oz. Silver March’11 delivery settled higher by 1.18% to $27.13/oz yesterday.
• Federal Reserve officials unanimously consented to continue with $600 billion purchase programme in their first monetary policy meeting this year.
• Federal Reserve kept the benchmark interest rate unchanged to near zero.
• World Gold Council report showed investors bought $14 billion of gold through gold-backed funds last year.
• The Congressional Budget Office said that that U.S. fiscal deficits may reach to $1.48 trillion by the end of the current fiscal year.

News @Energy

• NYMEX crude for March’11 delivery settled higher by 1.31% at $87.33/barrel yesterday.
• ICEX crude Feb’11 settled lower by 0.85% at Rs.3983/barrel on Tuesday.
• Valero Energy Corp. said Western Europe is confronting 600,000 barrels a day of shortage of distillates.
• EIA reported that crude inventories increased by 4.8 million bar-rels last week.
• Natural gas February’11 settled higher by 0.24% to $4.50/mmbtu yesterday.

News @Base Metals

• ICEX copper February’11 settled lower by 2.42% at Rs.429.35/kg on Tuesday.
• LME 3 months forward copper settled higher by 0.89% at $9363.25/ton yesterday.
• Commerce Department reported that new home sales in U.S. rose to an annual rate of 329,000 in December’10.
• LME copper inventories increased by 5625 tons to 394,700 tons.
• LME Lead 3 months forward settled lower by 1.29% at $2408/ton yesterday. ICEX lead January’11 settled lower by 3.03% at Rs.108.90/kg on Tuesday.

• gold February’11 delivery settled higher by 0.14% at Rs.20067/10gm. Sil-ver for March 11’ delivery settled higher by 0.26% at Rs.42706/kg on Saturday.
• gold for February’11 delivery settled lower by 0.41% to $1341/oz.  Silver March’11 delivery settled lower by 0.17% to $27.42/oz on Friday.
• Federal Reserve bought $8.6 billion of treasuries maturing 7 to 10 years this week.
• Short term Treasury yield (10-yrs) gained this week. Dollar extended gains against yen.
• CFTC data showed speculators cut net long position in precious metals for sec-ond week in a row in both futures and options on COMEX.

Energy Update

• ICEX crude Feb’11 settled lower by 0.02% at Rs.4101/barrel on Saturday.
• NYMEX crude for March’11 delivery settled lower by 0.54% at $89.11/barrel on Friday.
• Mastercard Spending Pulse report showed that U.S. retail gaso-line demand increased after three weeks of decline.
• China’s diesel supplies rose by 16% in December’10 compared with previous month. Natural gas February’11 settled higher by 0.87% to $4.74/mmbtu on Friday.

Base Metals Update

• ICEX copper February’11 settled higher by 0.22% at Rs.437.90/kg on Saturday.
• LME 3 months forward copper settled higher by 1.04% at $9455/ton on Friday.
• Japan’s top copper producer Pan Pacific Copper Co. said that there may be shortage of 635,000 tons of copper in 2011.
• German ZEW economist sentiment rose to 15.4 points in January from 4.3 points in December’10.
• LME Lead 3 months forward settled lower by 0.66% at $2439/ton on Friday.