COPPER 01.06.2012:- Copper sank on Thursday to its lowest price of 2012,


slammed by a surging dollar, slower demand outlook

and investor flight from risk after a raft of soft U.S.

data compounded an already-fragile growth outlook

linked to Europe's worsening debt and political crisis.

• Copper fell 11 percent in May.

• Prices of the red metal fell along with the euro, which

fell to a 23-month low against the dollar on concerns

about Spain and its troubled banking sector and

uncertainty in front of Friday's U.S. employment

report for May.

• But the pace of selling in copper slowed and prices

recovered a portion of their earlier losses after a Wall

Street Journal story said the European department

of the International Monetary Fund (IMF) has started

discussing contingency plans for a rescue loan to

Spain.

• Investors shunned risk after a batch of disappointing

U.S. data, including weekly jobless claims,

manufacturing in the U.S. Midwest, and a lower

revision to overall economic growth pointed to a

slowdown in the recovery. (NEAL BHAI 9999974733)

NATURAL GAS 01.06.2012

Intraday Strategy: Sell MCX Natural Gas June below 139.50, SL-


141.10, Target -138.70/136
 
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GOLD CALL:- 01.06.2012

Intraday Strategy: Sell MCX Gold Aug between 29430-29460, SL-


29532, Target -29320
 
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GOLD UPDATES 01.06.2012 (NEAL 9999974733)

LONDON: Gold slid into negative territory on Thursday, hitting a session low at $1,533.99 an ounce as the metal was caught up in broad-based selling of commodities after reports pointing to stalling US economic growth weighed on equities and oil prices.


Spot gold was down 0.3 per cent at $1,556.70 an ounce at 1407 GMT, having earlier risen as high as $1,572.30 an ounce. The metal is on track for its worst May performance in 30 years, down more than 6 per cent.

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GOLD NEWS 31.03.2012 IN HINDI (9999974733)

GOLD :-  31.05.2012 बुलियन मार्केट में गोल्ड की चमक घटती नजर आ रही है। लंदन में पिछले तीन दिनों में पहली बार गोल्ड की कीमत में गिरावट आई है। ट्रेडर्स


को लग रहा है कि इनवेस्टर्स यूरोपीय कर्ज संकट के चलते सोने से इनवेस्टमेंट निकालकर डॉलर में लगाएंगे। ऐसा होने पर सुरक्षित निवेश के रूप में सोने की डिमांड में कमी आएगी। गोल्ड की कीमत में पिछले चार महीने से कमजोरी का रुझान बना हुआ है। इस महीने इसकी कीमत में 5.3 फीसदी की गिरावट आई है। इससे पहले यह 1999 में सबसे लंबे समय तक गिरता रहा था। इससे साफ तौर पर संकेत मिल रहे हैं कि ऑल्टरनेटिव ऐसेट के रूप में गोल्ड की डिमांड अब घटने लगी है।



यूरोप में आर्थिक खलबली के चलते ग्रोथ को लेकर बढ़ती चिंता के बीच मंगलवार को यूरो के मुकाबले डॉलर 22 माह के ऊंचे लेवल पर रहा। बॉम्बे बुलियन असोसिएशन ने बताया कि कमजोर रुपए और ज्यादा ड्यूटी के चलते सोने की कीमत बढ़ने से इस महीने गोल्ड का इंपोर्ट 51 फीसदी तक गिर सकता है। चीन के सबसे बड़े सरकारी इनवेस्टमेंट ग्रुप की यूनिट एवरब्राइट फ्यूचर्स के एनालिस्ट सुन यॉन्गगैंग ने कहा, 'चाहे ग्रीस के यूरोजोन से निकलने की बात हो या बेलआउट की कतार में अब स्पेन के आने की बात हो, इनवेस्टर्स का फोकस यूरोपीय संकट पर बना हुआ है। वे सुरक्षित निवेश के रूप में डॉलर में निवेश कर रहे हैं।' लंदन में मंगलवार को कारोबार के दौरान सोने का हाजिर भाव 0.2 फीसदी घटकर 1,577.25 प्रति औंस रहा था। लगातार चार महीने की गिरावट के बीच मई में सोना 5.3 फीसदी कमजोर हुआ है। इसमें 1999 के बाद से अब सबसे लंबे वक्त तक गिरावट का दौर चल रहा है।



न्यू यॉर्क के कमोडिटी एक्सचेंज पर अगस्त डिलीवरी वाले फ्यूचर्स कॉन्ट्रैक्ट का भाव 0.5 फीसदी चढ़कर 1,578.30 डॉलर पर रहा। मेमोरियल डे के मौके पर सोमवार को अमेरिकी बुलियन मार्केट बंद था। पृथ्वीराज कोठारी ने बताया कि लगातार 11 साल तक साल-दर-साल आधार पर बढ़त दर्ज करने के बाद इस साल अब तक गोल्ड सिर्फ 0.9 फीसदी मजबूत हुआ है। ब्लूमबर्ग न्यूज के सर्वेक्षण के मुताबिक, यूरो एरिया में कंज्यूमर कॉन्फिडेंस मई में (-) 19.3 रहा, जो अप्रैल में (-) 19.9 था। एक जून को आने वाली रिपोर्ट से पहले इकनॉमिस्ट्स के एक अलग सर्वेक्षण के नतीजों के मुताबिक, अप्रैल में बेरोजगारी दर बढ़कर 11 फीसदी हो गई, जो 1990 के बाद सबसे ज्यादा है। स्पॉट डिलीवरी वाले सिल्वर की कीमत 0.4 फीसदी बढ़कर 28.5175 डॉलर प्रति औंस रही।

GOLD UPDATE 31.05.2012

LONDON: Gold prices fell for a second day on Wednesday, testing support near $1,530 an ounce, under the influence of a weaker euro as the euro zone debt crisis engulfed Spain and sent investors scrambling for a safe haven in the form of US dollars.




The euro extended losses against the dollar to a new 23-month low in early New York trade as Italian borrowing costs soared and concerns mounted over Spain's banking sector and upcoming Greek elections.



Spot gold slid to a low of $1,531.49 and was down 1.2 percent on the day at $1,536.50 an ounce by 1353 GMT. US gold futures for August delivery were down $13.10 an ounce at $1,537.90.



Gold prices has fallen by more than 7 percent in May, marking its worst monthly performance since December, when it fell by nearly 11 percent.



"Nothing is able to withstand the current dollar strength," Saxo Bank vice-president Ole Hansen said. "The secure government yield levels continue to fall to unbelievably low levels, a clear sign of the stress the financial markets are under."



"Gold is still stuck in its major $1,520 to $1,600 range, and once again it looks like we have to determine exactly how strong that support is."



The euro briefly lifted from lows in earlier trade after EU Commission said the euro zone should move towards the direct recapitalisation of banks from its permanent bailout fund, lifting the euro. Those gains were short-lived, however.



The single currency came under further pressure after the outcome of an election in Greece next month, which may determine whether Athens can stay in the euro, was thrown into doubt when a poll suggested the anti-bailout SYRIZA party would win.



Italian government bond yields broke above the 6 percent danger level on Wednesday as investors required higher returns to buy debt issued by the euro zone's third-largest economy at an auction tainted by banking troubles in neighbouring Spain.



Market players are worried about Spain's plans to raise new funds to recapitalise nationalised lender Bankia when the country's borrowing costs are rising daily and are flirting with euro-era highs.



"As we've seen during other periods of extreme risk aversion, investors go into Treasury bonds, which are yielding record lows, or they stay in cash. It's preservation of capital," Robin Bhar, an analyst at Societe Generale, said.



EURO LINK HOLDS



Gold's correlation to the euro softened a touch on Wednesday, easing to 52.0 from closer to 57.0 a week ago, meaning that the two assets are still more likely to move in sync with one another than they were in early May, when this relationship was at its weakest in six months.



"The song remains the same as well as the market slavishly follows the euro on its ups and downs. The situation in Europe seems to be going from bad to worse, with Spain now teetering on the brink as well as Greece," Marex Spectron head of precious metals David Govett said in a note.



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CRUDE OIL UPDATE 31.05.2012

NEW YORK: Brent oil fell to a five-month low on speculation that US crude stockpiles climbed to the highest level since 1990 and as the euro weakened on concern that the debt crisis will overwhelm Spain.




The Brent contract, Europe's benchmark, dropped below $105 a barrel and crude in New York tumbled to the lowest level since October. An Energy Department report on Thursday is projected to show that US supplies rose 1 million barrels to 383.5 million last week, according to analysts surveyed by Bloomberg. The euro fell versus the dollar as Spain's default risk increased.



"We're looking at a build of another million barrels to a 22-year high," said Addison Armstrong, director of market research at Tradition Energy in Stamford, Connecticut. "Given how high inventories are and how weak the economy looks, no wonder we're trading lower. We're going to probably continue seeing dollar strength, which will keep the pressure on oil."



Brent oil for July settlement declined $2.33, or 2.2%, to $104.35 a barrel on the London-based ICE Futures Europe exchange at 9:25 am in New York. The contract touched $104.28, the lowest level since December 20. Oil for July delivery fell $1.91, or 2.1%, to $88.85 a barrel on the New York Mercantile Exchange.



Futures reached $88.70, the lowest intraday level since October 24. Prices are down 15% this month, the biggest drop since December 2008. US gasoline stockpiles probably fell 7,50,000 barrels last week, according to the median of 10 analyst estimates in the Bloomberg survey.



Supplies of distillate fuel, a category that includes heating oil and diesel, are forecast to rise 2,50,000 barrels, the survey shows. The American Petroleum Institute will release separate inventory data late on Wednesday
 
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