Commodity Tips With 100 Accuracy

The Fed has a range of tools that could be used to provide additional monetary stimulus, Bernanke said without outlining when and if this may happen.  Bernanke also announced that the central bank’s September policy-setting meeting would be extended to two days from one, in order to “allow a fuller discussion” on the economy.

Gold updates futures dipped by more than 3% to settled at 26738, last session on Saturday we have seen gains coming after Federal Reserve Chairman Ben Bernanke said the central bank remained prepared to implement fresh stimulus measures, but today gold prices declined as investors locked in gains and also rupee firmness against dollar added oil to fire creating pressure in the early sessions.

In a highly-anticipated speech at the central bank’s annual retreat in Jackson Hole, Wyoming, Fed Chair Bernanke said the central bank remained prepared to implement fresh measures to stimulate the faltering US economy.

Guarseed yesterday we have seen that market has moved 0.33% on lower sowing area prospects amidst even though there were reports of exports getting adversely affected at these higher levels. 

Moderate rains in Rajasthan and some profit booking at the higher levels prevented the upsurge in rates as traders expect high volatility to be there this week also brought dips to the rising prices. Guar seed acreage in Rajasthan may still trail 2010's record high despite a fillip from rains last week, a state farm department official had said. 

The area under guar seed planting in Rajasthan, which accounts for 80 percent of India's total output, stood at 2.608 million hectares -- a jump of 210,000 hectares from Aug. 16 but behind last year's 3 million hectares in total. Guar seed arrivals standing steady at 5,000 bags in the Jodhpur Mandi. 

In Jodhpur guarseed prices dropped -34 rupees to 4360.2 rupees per 100 kg. Market has opened at 4480 & made a low of 4454 versus the day high of 4533. The total volume for the day was at 162970 lots and the open interest was at 134940.Now support for the guarseed is seen at 4470 and below could see a test of 4422. Resistance is now likely to be seen at 4549, a move above could see prices testing 4580.

Pepper September delivery gained Rs 195 and settled at Rs 33423/quintal as fundamentals remained strong on expectation of rise in export and domestic demand, and lower stocks and lower global production reports. Exports and domestic demand from North India remained good. Demand from North India too has been regularly there ahead of the Festive season. 

Mcx tips traders expect that with low stocks, lower global production and rising export demand, trend is likely to remain Bullish for the commodity from a medium to long term point of view. Traders expect that good demand and a firm trend in Vietnam could support the rates further. Good demand from Gulf countries sup-porting the rates. Demand from China and West Asia also reported. IPC has predicted 2011 crop to be lower by 2% at 309,952 MT. 

Carryforward stocks are expected to decline marginally to 94,582 MT vs 95,442 MT. Global exports have declined by 11% to 237,650 MT. Indian production expected to decline to 48,000 MT. Spot pepper gained 185.55 rupees to 32075 rupees per 100 kg in Kochi market. The contract touched the intra day high of Rs 33614/quintal while low of Rs 33000/quintal. Now support for the pepper is seen at 33077 and below could see a test of 32732. Resistance is now likely to be seen at 33691, a move above could see prices testing 33960.