Achiievers Equities' daily commodity report brings to you market round up and daily trading ideas for MCX, NCDEX futures and options. Get technical analysis on gold, silver and more...

1. Daily Commodity Report as on Tuesday, December 02, 2014
Date : Tuesday, December 02, 2014 URL : www.achiieversequitiesltd.com Page No - 1

2. Open High Low Close % Cng OI
Precious Metals Market Round up
Gold 26075 27030 25526 26939 2.93 7775
Silver 34498 37846 33832 37706 6.63 8423
Base Metal
Alum. 125.5 126.3 124 126 0.12 5521
Copper 396.1 404 390.4 403.55 1.29 12474
Lead 126.45 128.4 125.55 128.05 0.79 1524
Nickel 1005 1016.8 988.1 1012.9 0.36 3344
Zinc 137.3 139.15 136.1 138.95 0.80 3575
Gold saw its biggest daily surge in more than a year reversing from 2 percent losses to a one-month high.
Silver prices gained after soft U.S. manufacturing data weakened the dollar, while a cut to Japanese credit ratings
boosted the prices.
Crude rebound from five-year lows on signs that shale oil producers are starting to slow down output.
Energy Copper gained as investors bought back positions after regarding recent losses based on weak economic data as
Crude 4185 4287 3982 4271 1.45 15242
Nat. Gas 256.2 256.2 244 245.9 -5.17 11220
Zinc prices gained as support seen as the US dollar index fell on sluggish economic indicators Pulses
Chana 26075 27030 25526 26939 2.93 7775
Nickel prices ended with gains as prices rebounded with gold and silver prices. Spices
Cardamom 831.6 859.9 831.6 857.4 2.07 886
Turmeric 7350 7350 7252 7306 -0.65 14425
Jeera 12325 12515 12150 12425 0.89 5523
exaggerated.
Ref soyoil ended with losses on weak demand and higher supply following robust imports data. Cereals
Wheat 1647 1647 1647 1647 0.06 940
Oil and Oilseeds & Others producing regions.
Soyabean 3290 3340 3280 3327 -0.48 81470
Ref. Oil 580.15 587.4 576.2 585.65 -0.04 77760
CPO 437.4 439 427 437.7 -0.34 4200
RMSeed 3863 3913 3844 3900 0.39 19770
Menthol 696.6 715.7 695 713.9 2.73 8307
Cotton 15760 15810 15720 15730 -0.19 5266
USDINR 62.51 62.64 62.34 62.37 -0.03 2348294
EURINR 77.89 77.93 77.51 77.76 0.11 52746
GBPINR 97.66 98.09 97.45 98.02 0.23 35631
JPYINR 52.73 52.98 52.48 52.71 -0.25 18025
Natural gas dropped after updated weather-forecasting models called for mild temperatures to push out colder air
and settle in over the U.S. in the coming days
Mentha oil prices edged higher on account of good demand in the spot market against restricted supplies from
Soyabean prices dropped on higher supply of the crop in international market and subdued demand from oil
crushers.
Chana prices ended with losses on ample stocks and weak demand.
Turmeric prices ended with losses tracking weakness in spot demand amid on expectations of higher production. Currency
Jeera prices ended with gains on improved demand in the spot markets.
Date : Tuesday, December 02, 2014 URL : www.achiieversequitiesltd.com Page No - 2

3. MCX Gold Feb 2015 TRADING IDEA
OPEN 26075 SUP-2 24994 Gold trading range for the day is 24994-28002.
HIGH 27030 SUP-1 25966 Gold saw its biggest daily surge in more than a year reversing from 2 percent losses to a
one-month high.
LOW 25526 P.P. 26498 Support seen from the surging oil market and technical buy signals and potential for
increased Indian imports.
CLOSE 26939 RES-1 27470 Gold received support from the physical markets and from India, which eased curbs on
imports on Friday.
% CNG 2.93 RES-2 28002 SELL GOLD FEB @ 27000 SL 27140 TGT 26820-26640.MCX
Gold settled up 2.93% at 26939 saw its biggest daily surge in more than a year on Monday, reversing from 2 percent losses to a one-month high on spillover support from the surging oil market, technical buy signals and
potential for increased Indian imports. Gold surged to end at a one-month high on Monday, after Swiss voters rejected a proposal to increase the gold reserves held by its central bank and on some soft manufacturing activity
out of the U.S. and China. Investors also favored the precious metal as the dollar trended lower against a band of select currencies, with Japan's credit rating slashed and global equity markets dived. On Sunday, Swiss voters
in a referendum rejected proposals to hike the gold reserves held by its central bank to at least 20 percent, up from the current holding of 8 percent. The proposal was rejected by 77 percent of the voters. Meanwhile, an
official report showed Chinese manufacturing activity in November to have slipped to an eight-month low, while activity in the U.S. manufacturing sector grew at a slightly slower rate in November with the index of activity in
the sector dropping less than anticipated. Adding to the lure of gold was the cut made by Moody's Investors Service Monday to Japan's credit rating by one notch to A1 from Aa3, with a stable outlook. The rating agency cited
"heightened uncertainty over whether the government can attain its medium-term deficit reduction goal," and uncertainty about the timing and effectiveness of measures to boost economic growth as key drivers for the
downgrade. Technically market is getting support at 25966 and below same could see a test of 24994 level, And resistance is now likely to be seen at 27470, a move above could see prices testing 28002.
MCX Silver Mar 2015 TRADING IDEA
OPEN 34498 SUP-2 32447 Silver trading range for the day is 32447-40475.
HIGH 37846 SUP-1 35076 Silver prices gained after soft U.S. manufacturing data weakened the dollar, while a cut to
Japanese credit ratings boosted the prices.
LOW 33832 P.P. 36461 The ISM reported earlier that its manufacturing PMI dipped to 58.7 from 59.0 in October,
though still better than expectations of 57.9
CLOSE 37706 RES-1 39090 Holdings at ishares silver trust gained by 0.63% i.e. 68.54 tonnes to 10891.14 tonnes
from 10822.60 tonnes.
% CNG 6.63 RES-2 40475 SELL SILVER MAR @ 37700 SL 38000 TGT 37280-36880-36560.MCX
Silver settled up 6.63% at 37706 vaulted nearly 9 percent retained most of the gains from its biggest daily jump in a year the day before as a rebound in oil prices and a weaker dollar burnished its appeal as a hedge.
Overnight, Bullion shot up after soft U.S. manufacturing data weakened the dollar, while a cut to Japanese credit ratings boosted the yellow metal by stoking fears the global economy remains cool and in need of lower
interest rates. The dollar has firmed and gold softened in recent sessions as markets prepare for U.S. monetary policy to grow less accommodative, though mixed US manufacturing data gave the bullion room to rally on
Monday. Meanwhile in the U.S., the ISM reported earlier that its manufacturing PMI dipped to 58.7 from 59.0 in October, though still better than expectations of 57.9, though the dollar slid on profit taking anyway. Also Swiss
voters over the weekend voted against a proposal to would have required the central bank to hold a portion of its reserves in gold. Gold dropped on the news at first, though many investors viewed the precious metal as
oversold afterwards. Risk appetite was slack on wider markets, hurt by slowing factory activity in China and Europe, with global stock markets down. In the week ahead, the U.S. is to release the U.S. jobs report for
November on Friday as market players attempt to gauge the strength of the world's biggest economy and its impact on the Fed's monetary policy. Technically market is under short covering as market has witnessed drop in
open interest by -12.2% to settled at 8423 while prices up 2343 rupee, now Silver is getting support at 35076 and below same could see a test of 32447 level, And resistance is now likely to be seen at 39090, a move above
could see prices testing 40475.
Date : Tuesday, December 02, 2014 URL : www.achiieversequitiesltd.com Page No - 3

4. MCX Crudeoil Dec 2014 TRADING IDEA
OPEN 4185 SUP-2 3875 Crudeoil trading range for the day is 3875-4485.
HIGH 4287 SUP-1 4073 Crude rebound from five-year lows on signs that shale oil producers are starting to slow
down output.
LOW 3982 P.P. 4180 Prices fall below $65 earlier this week after OPEC decided to maintain crude production at
30mbpd, renewing fears of a huge supply glut.
CLOSE 4271 RES-1 4378 Saudi Arabia blocked moves by some smaller producers to curb output, arguing that low
prices would ultimately hurt U.S. shale oil.
% CNG 1.45 RES-2 4485 SELL CRUDE OIL DEC BELOW 4260 SL 4300 TGT 4232-4190.MCX
Crudeoil settled up 1.45% at 4271 surged to end sharply higher Monday on bargain buying, rebounding from a 5-year low at its previous close after the OPEC decided not cut production, with the dollar trending lower and
investors anticipating a cut in U.S. shale oil production. The OPEC at its meeting in Vienna last Thursday, decided to maintain crude production at 30 million barrels a day, renewing fears of a huge supply glut. Worries about
demand growth persisted on the back of some soft economic data showing Chinese manufacturing activity in November to have slipped to an eight-month low, and activity in the U.S. manufacturing sector growing at a
slightly slower rate in November, with the index of activity in the sector dropping less than anticipated. Yesterday Moody's Investors Service slashed Japan's credit rating by one notch to A1 from Aa3, with a stable outlook.
The rating agency cited "heightened uncertainty over whether the government can attain its medium-term deficit reduction goal," and uncertainty about the timing and effectiveness of measures to boost economic growth as
key drivers for the downgrade. On Friday, crude oil plummeted $7.54 to close at $66.15 a barrel, after the OPEC decided to maintain its production at 30 million barrels a day, renewing fears of huge supply glut. While
Manufacturing growth across Asia, Europe and the Americas eased in November as heavy price cutting failed to revive demand, surveys showed on Monday, providing more evidence that a feeble global economic recovery
may be grinding to a halt. Technically market is under short covering as market has witnessed drop in open interest by -19.73% to settled at 15242, now Crudeoil is getting support at 4073 and below same could see a test
of 3875 level, And resistance is now likely to be seen at 4378, a move above could see prices testing 4485.
MCX Copper Feb 2015 TRADING IDEA
OPEN 396.1 SUP-2 385.7 Copper trading range for the day is 385.7-412.9.
HIGH 404.0 SUP-1 394.6 Copper gained as investors bought back positions after regarding recent losses based on
weak economic data as exaggerated.
LOW 390.4 P.P. 399.3 The Moody's lowered Japan's debt rating, triggering risk aversion and pushing down
stocks markets worldwide.
CLOSE 403.6 RES-1 408.2 China's commodity stockpiler was likely to buy more than double the amount of copper it
planned for 2014.
% CNG 1.29 RES-2 412.9 SELL COPPER FEB @ 403-404 SL 407 TGT 400-396.50.MCX
Copper settled up 1.29% at 403.55as the US dollar index grew at a more slowly pace, while crude oil and precious metals posted rebounds, with silver prices rising by 17% after a plummet, staging the biggest single-day
fluctuation ever. These, combined with buying support, allowed LME copper to end up USD 102/mt at USD 6,450/mt. As the Moody's lowered Japan's debt rating, gold rose USD 80/mt overnight, silver was up 8%, and
COMEX crude oil prices climbed 4.3%. This boosted base metals prices. But major economic indicators were mixed. Euro zone November manufacturing PMI fell to 50.1, its lowest since July 2013. Manufacturing PMIs from
Germany, France and Italy all shrank for the first time over the past 1-1/2 years. ISM's November manufacturing PMI for the US was 58.7, topping market expectations but falling short of October's. Markit's manufacturing
PMI was 54.8, also falling short of market expectations. China's official manufacturing PMI in November was 50.3, hitting an 8-month low, and worse than the 50.5 expected. HSBC's November PMI for China was 50, its
lowest over the past 1/2 year. The APEC is expected to have negatively affect China's real economy. Home prices in November fell for a seventh straight month in a large number of cities in China, though home prices in
Shanghai rose most significantly due to stimulus measures. Technically market is under short covering as market has witnessed drop in open interest by -15.26% to settled at 12474 while prices up 5.15 rupee, now Copper is
getting support at 394.6 and below same could see a test of 385.7 level, And resistance is now likely to be seen at 408.2, a move above could see prices testing 412.9.
Date : Tuesday, December 02, 2014 URL : www.achiieversequitiesltd.com Page No - 4

5. MCX Zinc Dec 2014 TRADING IDEA
OPEN 137.3 SUP-2 135.1 Zinc trading range for the day is 135.1-141.1.
HIGH 139.2 SUP-1 137.1 Zinc prices gained as support seen as the US dollar index fell on sluggish economic
indicators
LOW 136.1 P.P. 138.1 Manufacturing PMIs in the euro zone and Germany fell to 50.4 and 49.5, respectively, in
November.
CLOSE 139.0 RES-1 140.1 Zinc daily stocks at Shanghai exchange came down by 474 tonnes.
% CNG 0.80 RES-2 141.1 SELL ZINC DEC @ 139 SL 140.20 TGT 138.10-137.20.MCX
Zinc settled up 0.8% at 138.95 as support seen as the US dollar index fell on sluggish economic indicators. As the Moody's lowered Japan's debt rating, gold rose USD 80/mt overnight, silver was up 8%, and COMEX crude oil
prices climbed 4.3%. This boosted base metals prices. But major economic indicators were mixed. Euro zone November manufacturing PMI fell to 50.1, its lowest since July 2013. Manufacturing PMIs from Germany, France
and Italy all shrank for the first time over the past 1-1/2 years. ISM's November manufacturing PMI for the US was 58.7, topping market expectations but falling short of October's. Markit's manufacturing PMI was 54.8, also
falling short of market expectations. China's official manufacturing PMI in November was 50.3, hitting an 8-month low, and worse than the 50.5 expected. HSBC's November PMI for China was 50, its lowest over the past 1/2
year. The APEC is expected to have negatively affect China's real economy. Home prices in November fell for a seventh straight month in a large number of cities in China, though home prices in Shanghai rose most
significantly due to stimulus measures. US stocks tumbled overnight at the same time as the US dollar index fell on sluggish economic indicators, underpinning base metals prices. Technically market is under fresh buying as
market has witnessed gain in open interest by 4.81% to settled at 3575 while prices up 1.1 rupee, now Zinc is getting support at 137.1 and below same could see a test of 135.1 level, And resistance is now likely to be seen
at 140.1, a move above could see prices testing 141.1.
MCX Nickel Dec 2014 TRADING IDEA
OPEN 1005.0 SUP-2 977.2 Nickel trading range for the day is 977.2-1034.6.
HIGH 1016.8 SUP-1 995.0 Nickel prices ended with gains as prices rebounded with gold and silver prices.
LOW 988.1 P.P. 1005.9 The Moody's lowered Japan's debt rating, triggering risk aversion , which boosted the base
metals.
CLOSE 1012.9 RES-1 1023.7 If US October construction spending slated for release today is in line with market
expectations, the US dollar index will receive a boost
% CNG 0.36 RES-2 1034.6 SELL NICKEL DEC @ 1022 SL 1034 TGT 1006-992.MCX
Nickel settled up 0.36% at 1012.90 while opened lower to test 889 overnight due to falling crude oil and gold prices and worse-than-expected HSBC’s November manufacturing PMI for China. As of 1:30 pm, LME nickel prices
plummeted due to selloffs, dipping to USD 15,870/mt, but climbed later on owing to rebounding crude oild and gold prices, and closing at USD 16,312/mt, up 0.79%. On the macro front, ISM’s US manufacturing PMI fell to
58.7 in November from October’s 59, but did beat expectations for 58. China’s official manufacturing PMI hit an 8-month low in November, due to falling production and new export orders. PMI at SMEs remained below 50.
Moody's downgraded Japan's sovereign rating by one notch to A1. Nickel was already priced in for a strike at Colombia’s Cerro Matoso; however, it was cancelled resulting in nickel’s decline. Yesterday China's official
manufacturing PMI in November was 50.3, hitting an 8-month low, and worse than the 50.5 expected. HSBC's November PMI for China was 50, its lowest over the past 1/2 year. The APEC is expected to have negatively
affect China's real economy. Home prices in November fell for a seventh straight month in a large number of cities in China, though home prices in Shanghai rose most significantly due to stimulus measures. Technically
market is under fresh buying as market has witnessed gain in open interest by 9.07% to settled at 3344 while prices up 3.6 rupee, now Nickel is getting support at 995 and below same could see a test of 977.2 level, And
resistance is now likely to be seen at 1023.7, a move above could see prices testing 1034.6.
Date : Tuesday, December 02, 2014 URL : www.achiieversequitiesltd.com Page No - 5

6. NCDEX Chana Jan 2015 TRADING IDEA
OPEN 3108 SUP-2 3071 Chana trading range for the day is 3071-3173.
HIGH 3145 SUP-1 3099 Chana prices ended with losses on ample stocks and weak demand.
LOW 3094 P.P. 3122 Lower prices on the back of record output and comfortable supplies may force farmers to
switch over to other remunerative crops.
CLOSE 3127 RES-1 3150 NCDEX accredited warehouses chana stocks gained by 3803 tonnes to 39733 tonnes.
% CNG -0.22 RES-2 3173 BUY CHANA JAN @ 3100 SL BELOW 3060 TGT 3140-3185.NCDEX
Chana settled down by -0.22% at 3127 on ample stocks and weak demand. Chana traded weak as recovery in sowing in Rajasthan too added to the selling pressure. Latest report from AP Agri Dept indicate Rabi Pulses
sowing down 25% from 4.25 lakh ha as on now to 3.18 lakh ha as on now. Rajasthan Agri Dept for Rabi Pulses indicates sowing indicates area at 13.52 lakh ha as on now, up marginally from 13.51 lakh ha as on 22.11.2013.
MP Agri Dept indicates Rabi Pulses sowing at 1.53 lakh ha as on 26.11.2014 vs target of 6 lakh ha. Lower prices on the back of record output and comfortable supplies may force farmers to switch over to other remunerative
crops such as mustard and coriander which could yield better returns. Due to this, the government has set a target of 9.3 million tons for chana output for 2014-15 rabi season, down 5.87% compared to previous year. The
4th government advance estimates pegged total pulses output for 2013-14 at 19.27 million ton, up from 18.34 million ton earlier. Agriculture ministry has estimated chana record output at 9.88 million ton up from 8.83
million ton a year ago. Lower prices on the back of record output and comfortable supplies may force farmers to switch over to other remunerative crops such as mustard and coriander which could yield better returns. In
Delhi spot market, chana dropped by -30.4 rupee to end at 3055.9 rupee per 100 kgs.Technically market is under long liquidation as market has witnessed drop in open interest by -3.45% to settled at 50860, now Chana is
getting support at 3099 and below same could see a test of 3071 level, And resistance is now likely to be seen at 3150, a move above could see prices testing 3173.
NCDEX Turmeric Apr 2015 TRADING IDEA
OPEN 7350 SUP-2 7204 Turmeric trading range for the day is 7204-7400.
HIGH 7350 SUP-1 7254 Turmeric prices ended with losses tracking weakness in spot demand amid on
expectations of higher production.
LOW 7252 P.P. 7302 With falling stocks in mandis, there is possibility of recovery in prices in coming weeks as
exports rise.
CLOSE 7306 RES-1 7352 NCDEX accredited warehouses turmeric stocks dropped by 10 tonnes to 2230 tonnes.
% CNG -0.65 RES-2 7400 SELL TURMERIC APR BELOW 7300 SL 7400 TGT 7220-7120.NCDEX
Turmeric settled down by -0.65% at 7306 tracking weakness in spot demand amid on expectations of higher production. With demand faltering at the higher levels, moderate corrections were noted for Turmeric even as
there are expectations of a bounce back in prices with demand expected to recover on the export front in December. With falling stocks in mandis, there is possibility of recovery in prices in coming weeks as exports rise. At
Erode market total arrivals are at 2000 quintals, lower by 2000 quintals from previous day’s arrivals. Spot turmeric prices at Erode markets decreased due to arrival of poor quality. Though the traders are having reasonable
demand from North India, they could not purchase as poor quality turmeric is arriving for sale. The farmers are having huge stock of turmeric with them, including possession of super fine quality but are bringing limited
quantities of medium and poor quality turmeric, expecting higher prices next year. On Friday, the hybrid finger turmeric decreased by Rs. 100 a quintal and the hybrid root variety Rs. 200. The local finger turmeric was up
Rs. 100-200. As per the market sources, the total production of turmeric in the current year is expected to be around 35-37 lakh bags against 52 lakh bags of the last year. This is mainly due to weak production forecast in
major producing states such as Andhra Pradesh and Tamilnadu. In Nizamabad, a major spot market in AP, the price ended at 6325 rupees dropped -7.35 rupees.Technically market is under fresh selling as market has
witnessed gain in open interest by 2.27% to settled at 14425, now Turmeric is getting support at 7254 and below same could see a test of 7204 level, And resistance is now likely to be seen at 7352, a move above could see
prices testing 7400.
Date : Tuesday, December 02, 2014 URL : www.achiieversequitiesltd.com Page No - 6

7. MCX Menthaoil Dec 2014 TRADING IDEA
OPEN 696.6 SUP-2 687.5 Menthaoil trading range for the day is 687.5-728.9.
HIGH 715.7 SUP-1 700.7 Menthaoil spot is at 800/-. Spot market is up by Rs.15/-.
LOW 695.0 P.P. 708.2 Mentha oil prices edged higher on account of good demand in the spot market against
restricted supplies from producing regions.
CLOSE 713.9 RES-1 721.4 Further, hopes of lower output from the major producing belts too supported mentha oil
prices uptrend.
% CNG 2.73 RES-2 728.9 BUY MENTHA OIL DEC @ 695-697 SL BELOW 688 TGT 704-716-725. MCX (BTST)
Mentha oil settled up by 2.73% at 713.9 on account of good demand in the spot market against restricted supplies from producing regions. Further, hopes of lower output from the major producing belts too supported
mentha oil prices uptrend. Lack of strong demand amidst high stocks in mandis kept trend weak for Mentha Oil last week as traders anticipate the winter season demand to pick up in coming weeks ahead. At Sambhal market
sources reported arrivals at 50 Drums(1-drum=180kg), down by 10 Drums(1-drum=180kg) as compared to previous day. At Barabanki total arrivals are at 150 Drums(1-drum-180kg), steady as against previous day’s
arrival. At Rampur market arrivals were reported at 5 Drums(1-drum=180kg), unchanged as compared to previous day’s arrival. At Bareilly market sources reported arrivals at 3 Drums(1-drum-180kg), down by 1 Drums(1-
drum-180kg) from previous day’s arrivals. As per the Latest reports from Spice Board indicate that for the period April-December last year, exports for Mint value-added products like Oil, Menthol and its crystals rose 94% in
volumes at 17,850 tonnes and 39% in value at Rs 2202 Cr w.r.t. same period the previous year. However reports of current prices being on the lower side along with expected pick up in export and winter season domestic
demand in coming weeks could ensure prices find some strong support here. Higher production and higher stock levels have been keeping market sentiments weak for quite some time. Technically market is under short
covering as market has witnessed drop in open interest by -1.41% to settled at 8307 while prices up 19 rupee, now Menthaoil is getting support at 700.7 and below same could see a test of 687.5 level, And resistance is now
likely to be seen at 721.4, a move above could see prices testing 728.9.
COMMODITIES GOLD SILVER CRUDE NAT.GAS COPPER ZINC NICKEL ALUMINUM LEAD
128.1
132.0
130.2
129.1
127.3
126.2
124.4
123.3
1524
DAILY MARKET LEVEL FOR METAL AND ENERGY
CLOSE 26939 37706 4271 245.9 403.55 138.95 1012.9 126
28974 43104 4683 265.6 421.8 143.1 1052.4 129.1
28002 40475 4485 260.9 412.9 141.1 1034.6 127.7
27470 39090 4378 253.4
408.2 140.1 1023.7 126.8
138.1 1005.9 125.4
137.1 995.0 124.5
135.1
977.2 123.1
134.1 966.3 122.2
RESISTANCE
P. POINT 26498 36461 4180 248.7 399.3
SUPPORT 24994 32447 3875 236.5 385.7
24462 31062 3768 229.0 381.0
OI 7775 8423 15242 11220 12474 3575 3344 5521
Positive Positive
0.55
25966 35076 4073 241.2 394.6
TREND Positive Positive Positive Positive Positive Positive Positive
SPREAD 396 577 32.00 2.10 3.90 0.40 6.30
0.05
Date : Tuesday, December 02, 2014 URL : www.achiieversequitiesltd.com Page No - 7

8. PREV
NEWS YOU CAN USE DAY TIME ZONE ECONOMICAL DATA EXP
Spanish Unemployment Change
PPI m/m
FOMC Member Fischer Speaks
Fed Chair Yellen Speaks
Construction Spending m/m
Total Vehicle Sales
FOMC Member Brainard Speaks
1:30pm EUR 21.3K 79.2K
3:30pm EUR 0.003 0.002
6:40pm USD 0 0
7:00pm USD 0 0
8:30pm USD 0.006 -0.004
All Day USD 16.5M 16.5M
10:30pm USD 0 0
0
0
0
0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
8
Swiss voters overwhelmingly rejected proposals on Sunday to boost gold reserves and impose strict
new curbs on immigration, averting a potential nightmare for policymakers struggling with a popular
backlash against the country's open borders. The referendums are part of a recent flurry of initiatives
under Switzerland's model of direct democracy that have threatened to undermine the non-EU
member's reputation for stability. They reflect a growing public view that Switzerland is under siege
from foreign workers eroding its Alpine culture and from trading partners who have insisted in recent
years that the Swiss dismantle their business model based on banking secrecy. The "Save our Swiss
gold" initiative, proposed by the right-wing Swiss People's Party out of concern the central bank has
sold too much of its gold in the past, was rejected by 77 percent of voters, said Swiss broadcaster
SRF. The measure would have compelled the Swiss National Bank (SNB) to boost its gold reserves to
20 percent of its assets from around 8 percent currently, and banned it from ever selling the metal,
threatening its ability to defend a 1.20 euro cap on the Swiss franc imposed at the height of the euro
crisis. The SNB welcomed the result with the refrain that it would continue to defend the cap, buying
unlimited quantities of foreign currency and take further measures immediately, if necessary.
Growth in China's manufacturing sector slowed in November, suggesting the world's second-largest
economy is still losing momentum and adding pressure on authorities to ramp up stimulus measures
after unexpectedly cutting interest rates last month. After saying for months that China does not need
any big economic stimulus, the People's Bank of China (PBOC) surprised financial markets by lowering
rates on Nov. 21 to shore up growth. Analysts see more moves in coming months if the economy
continues to stumble. The official Purchasing Managers' Index (PMI) eased to an eight-month low of
50.3 last month, the National Bureau of Statistics said on Monday, still indicating a modest expansion
in activity but below forecasts for 50.6 and October's 50.8. The official PMI survey, which is biased
toward large, state-owned factories, showed that demand for Chinese goods was stronger in China
than abroad. New export orders contracted. A similar private survey showed growth at Chinese
factories stalled last month. The final HSBC/Markit China Manufacturing Purchasing Managers' Index
(PMI) edged down to 50 in November, a six-month low and right on the boom-bust 50-point level
that separates growth from contraction on a monthly basis.The reading was unchanged from a
preliminary "flash" figure and down from the final 50.4 in October.
0
0
Tue
The pace of decline in Japan's housing starts unexpectedly slowed in October, data from the Ministry
of Land, Infrastructure, Transport and Tourism showed. Housing starts fell 12.3 percent year-on-year
in October, after a 14.3 percent decline in the previous month. Economists had forecast a 15.0
percent decline for October. The latest decrease was the weakest in four months. Annualized housing
starts totaled 904,000 in October compared to 880,000 in the previous month. It was expected to rise
to 876,000 during the month. The latest figure was the highest in six months. Meanwhile,
construction orders at big 50 constructors recovered in October, climbing 15.7 percent year-on-year,
after logging a 40.3 percent plunge in the prior month.
The harvested sugarcane will be transported to factories. The South Indian Sugar Mills Association
(SISMA) had directed all the factories in the state to begin crushing the sugarcane, and the factories
have fallen in line. The state Cabinet, which met at Kalaburgi last week, discussed the issue and
decided to end the impasse. The ministers held talks with the factory management and asked the
factory owners to start crushing. They were assured that the government will help them financially
within 15 days. The factories and the farmers have been at loggerheads over the price of sugarcane.
While the farmers were demanding Rs 2,600 a tonne, the factories offered Rs 2,100 a tonne. The
farmers had even obtained an order from the high court which had asked the factories to pay Rs
2,500 per tonne. The matter came up for discussions at the state cabinet meeting held at Kalaburagi
last week. Minister for IT/BT S R Patil said that the cabinet considered the fact that the fate of the
farmers in north Karnataka depended on the sugar factories and that the factories should survive in
the interest of the farmers. As such, the government has decided to compensate the factories, he
added. In Karnataka there are 65 sugar factories of which 58 are functioning. The cooperative sector
has 22 factories, two are run by the government and 34 are privately-owned. Of the private factories
33 are owned/managed by politicians. Karnataka has 2.5 million sugarcane growers and the
Sitting in his village in Rajasthan, Sehdev Bishnoi worries that oil firms a world away in the United
States will buy less of his guar in future, ending a short-lived boom that helped him and other Indian
farmers out of poverty. Food firms are also buyers and the sector is likely to take more this year as
traders scout out new markets, but it will be hard to match the impact made by oil industry demand
in recent years. Drillers use the gum derived from guar, also known as cluster beans, for hydraulic
fracturing and many poor farmers switched crops to ride the US shale boom. Guar gum exports had
been ticking along at around 200,000 tonne a year until 2009-10, but as US frackers stocked up,
shipments jumped to a record of about 700,000 tonne in the financial year to March 2012. Prices
jumped tenfold. India was in an enviable position, with around 80% of the guar market. Its guar seed
output has almost tripled in the past three years to 3 million tonne. However, as the crop can be
unreliable due to swings in monsoon rains, oilfield service firms such as Halliburton started developing
more reliable alternatives, with predictable results: guar seed prices have slumped 47% to Rs 4,900
($79.112) per 100 kg since May 2013. At the moment, about 60% of the flour-like gum obtained after
milling guar is used in shale drilling to raise the viscosity of proppants, materials that are forced into
shale fractures to enlarge them so that oil and gas can be extracted
Date : Tuesday, December 02, 2014 URL : www.achiieversequitiesltd.com Page No -

9. Date : Tuesday, December 02, 2014 URL : www.achiieversequitiesltd.com Page No - 9