Global Market Pivots Daily – 29 Apr 2010

Daily Commodity Pivot – MCX – 27 Apr 2010

Federal Funds Implied Probability

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Weekly Global Pivots – 26 Apr 10…

Global Market update 26 Apr 2010

Name	DATE	LATEST	CHANGE	Chg Pct 1M	Chg Pct 3M	Chg Pct 1Yr
Precious Metals
GOLD SPOT $/OZ	10:31:58	1158.7	4.85	4.90	5.35	27.21
SILVER SPOT $/OZ	10:28:08	18.38	0.16	8.89	9.11	42.26
PLATINUM SPOT $/OZ	10:32:01	1750.75	12.30	9.58	14.22	48.31
PALLADIUM SPOT $/OZ	10:28:27	567.75	4.90	24.44	32.73	142.63
GOLD INDEX	24/04/2010	16745	2.70	1.17	14.22
MCX Silver	24/04/2010	27675	5.13	2.79	30.46
Base Metals
LME ALUMINUM 3MO ($)	23/04/2010	2334	20.50	3.37	4.62	61.19
LME COPPER 3MO ($)	23/04/2010	7750	74.00	4.17	4.87	78.49
COPPER FUTURE Jul10	10:18:37	356.5	#N/A N Ap	4.21	6.09	75.96
LME LEAD 3MO ($)	23/04/2010	2300	(3.00)	9.32	2.82	57.53
LME NICKEL 3MO ($)	23/04/2010	27050	(160.50)	20.25	47.73	138.33
LME TIN 3MO ($)	23/04/2010	19000	74.50	7.96	6.89	52.61
LME ZINC 3MO ($)	23/04/2010	2405	(3.00)	7.37	2.34	69.73
ALUMINUM SPOT INDEX	24/04/2010	100.9	1.66	(1.47)	42.62
COPPER INDEX	24/04/2010	344.95	2.65	1.25	56.40
NICKEL INDEX	24/04/2010	1192.6	15.39	40.55	116.60
STEEL FLAT INDEX	24/04/2010	36740	9.70	18.98	28.96
TIN INDEX	24/04/2010	844.25	5.73	3.15	33.37
Agriculture
CORN FUTURE Jul10	10:20:49	363.75	2.88	(1.02)	(4.96)	(16.48)
WHEAT FUTURE(CBT) Jul10	10:14:18	509	4.00	6.49	(2.07)	(18.40)
SOYBEAN FUTURE Jul10	10:19:30	1017.5	7.63	6.02	5.55	8.45
ROUGH RICE (CBOT) Jul10	10:11:30	12.785	0.08	0.24	(12.61)	#N/A N.A.
SUGAR #11 (WORLD) Jul10	23/04/2010	15.75	#N/A N Ap	(4.26)	(34.43)	9.53
Energy
WTI CRUDE FUTURE Jun10	10:21:58	85.46	#N/A N Ap	6.20	12.02	38.31
BRENT CRUDE FUTR Jun10	10:17:49	87.6	0.34	9.87	16.44	42.60
NATURAL GAS FUTR May10	10:20:29	4.301	#N/A N Ap	9.44	(21.21)	(22.34)
GASOLINE RBOB FUT May10	08:33:36	236.4	#N/A N Ap	7.04	13.62	43.72
HEATING OIL FUTR May10	10:13:26	226.2	#N/A N Ap	8.68	14.54	38.07

Greece races for rescue.

Greece races for rescue, some fear not enough http://uk.reuters.com/article/topNews/idUSTRE63N18020100425

Global Commodity Market update – 20 Apr 2010

Name	DATE	LATEST	CHANGE	Chg Pct 1M	Chg Pct 3M	Chg Pct 1Yr	USD/MT
Precious Metals
GOLD SPOT $/OZ	10:27:15	1136.5	3.15	2.57	2.19	28.34	36,545,740.00
SILVER SPOT $/OZ	10:27:22	17.7925	0.09	4.49	(0.68)	46.80	572,122.40
PLATINUM SPOT $/OZ	10:27:42	1694.25	(0.25)	5.19	4.78	45.65	54,479,430.00
PALLADIUM SPOT $/OZ	10:25:34	534.875	0.92	14.19	15.34	137.72	17,224,760.00
GOLD INDEX	19/04/2010	16510	(0.93)	(2.01)	17.63	36,904,160.00
MCX Silver	19/04/2010	26875	0.00	(5.78)	33.69	600,726.40
Base Metals
LME ALUMINUM 3MO ($)	19/04/2010	2369	(58.50)	4.92	3.29	59.42	2,369.00
LME COPPER 3MO ($)	19/04/2010	7695	(50.00)	3.50	1.99	60.15	7,695.00
COPPER FUTURE Jul10	10:16:31	352	0.30	3.85	4.36	68.18	7,758.06
LME LEAD 3MO ($)	19/04/2010	2236	(8.50)	1.87	(7.79)	43.79	2,236.00
LME NICKEL 3MO ($)	19/04/2010	26700	285.00	18.93	38.95	108.19	26,700.00
LME TIN 3MO ($)	19/04/2010	18805	(313.00)	6.54	4.62	53.51	18,805.00
LME ZINC 3MO ($)	19/04/2010	2390	(12.50)	4.14	(4.52)	53.50	2,390.00
ALUMINUM SPOT INDEX	19/04/2010	104.3	2.71	1.91	45.67	2,331.38
COPPER INDEX	19/04/2010	344.7	1.22	1.71	45.63	7,704.94
NICKEL INDEX	19/04/2010	1177.6	14.13	38.46	90.61	26,322.44
STEEL FLAT INDEX	19/04/2010	36700	6.62	16.14	25.43	820.34
TIN INDEX	19/04/2010	834	3.83	3.70	37.62	18,642.08
Agriculture
CORN FUTURE Jul10	10:14:58	360.5	3.38	(6.49)	(7.15)	(15.43)	141.93
WHEAT FUTURE(CBT) Jul10	10:17:02	483.5	4.13	(2.62)	(7.69)	(18.91)	177.64
SOYBEAN FUTURE Jul10	10:17:25	991.25	4.88	2.24	3.15	6.82	364.09
ROUGH RICE (CBOT) May10	08:39:08	12.675	0.03	(0.20)	(7.99)	(2.50)	279.48
SUGAR #11 (WORLD) Jul10	19/04/2010	17.05	#N/A N Ap	(6.88)	(29.86)	16.62	375.89
Energy
WTI CRUDE FUTURE May10	10:17:33	81.88	0.44	1.12	3.84	36.13
BRENT CRUDE FUTR Jun10	10:16:16	84.61	0.35	5.42	7.92	40.18
NATURAL GAS FUTR May10	10:15:00	3.963	0.02	(6.27)	(27.79)	(29.47)
GASOLINE RBOB FUT May10	10:12:44	226.17	0.51	0.33	4.66	40.52
HEATING OIL FUTR May10	10:05:43	216.93	1.18	3.84	5.71	34.96

Gold Slips During Week As Euro Falls Against US Dollar, SEC Goes After Goldman Sachs

Precious metals plummeted at the end of the week with gold falling to US$1,136/oz, while silver and platinum declined to US$17.70/oz and US$1,689/oz respectively.

On Monday and Tuesday, gold remained steady around the 2010 highs reached last week amid increased physical buying and volatility in currency and equity markets, which prompted investors to pour money into precious metals, now seen as safe haven assets. Investors have been abandoning the euro as the European debt crisis unravelled with Greece and its massive debt taking centerstage, putting pressure on equity markets on the continent and its single currency. Late last week, rating agency Fitch cut Greece’s sovereign debt to BBB- from BBB+ after downgrading Portugal to AA with a negative outlook last month. The decision came shortly after President of European Central Bank Jean-Claude Trichet said that the debt-laden country did not require financial aid at this moment.

The move by Fitch made it harder and costlier for Greece to raise sufficient funds in the market, prompting European Union leaders to provide it with a €30 billion loan facility weeks after agreeing on a financial aid package, which would be used as a last resort if the country failed to raise enough money in the market.

Gold then briefly fell below US$1,150/oz as investors paused following a buying spree that sent the yellow metal to 2010 highs at nearly US$1,170/oz. However, gold came back in demand later after investors switched to riskier assets following a positive earnings report from chipmaker Intel (NYSE:INTC) and gains in the euro on Greece optimism following the bailout deal.

More bullish cues were provided by the world’s largest consumer India, which said that its demand for the yellow metal has grown further as the country’s gold imports increased to 27.7 tonnes in March from just 4.8 tonnes a year ago. Later, however, physical buying declined on lower demand from India as gold prices remained at a high level.

Gold weakened closer to the end of the week, but still managed to remain above the US$1,150/oz level despite a stronger US dollar as precious metals were sought by traders due to concerns associated with soaring sovereign debts in Europe and the US, triggering yet more safe haven buying.

On Friday, gold gave in to the pressure and decline as the American currency remained strong and the euro fell further on investor concerns over Greece’s fiscal situation. The spread between Greek and German bonds has reached record levels despite the EU bailout loan agreement.

The yellow metal then slipped to US$1,136/oz after SEC (Securities and Exchange Commission) charged Wall Street’s biggest investment bank Goldman Sachs (NYSE: GS) with fraud. GS has a large stake in SPDR Gold Trust (NYSE: GLD), the world’s largest gold-back exchange traded fund.

Major mining stocks were in decline this week, posting their biggest losses on Friday. Gold producerRandgold Resources (LSE: RRS) declined from 5,445 pence to 5,125 pence during the week, silver minerFresnillo (LSE: FRES) declined from 880 pence to 844 pence and platinum producer Lonmin (LSE: LMI) fell from 2,111 pence to 2,027 pence.

In the FTSE 250, gold miner Petropavlovsk (LSE: POG) fell from 1,270 pence to 1,240 pence, silver producer Hochschild Mining (LSE: HOC) fell from 290 pence to 288 pence and Aquarius Platinum (LSE: AQP), however, went against the tide, inching from 450 pence to 450.6 pence during the week.

SPDR Gold Trust fell 2.1% on friday’s news

http://www.proactiveinvestors.co.uk/companies/news/15660/gold-slips-during-week-as-euro-falls-against-us-dollar-sec-goes-after-goldman-sachs-15660.html

Global weekly pivots – 12 Apr 2010 to 16 Apr 2010.

Global Pivot Daily – 08 Apr 10