TODAY MARKET OUTLOOK FOR COMMODITY

Gold: The Outlook for Gold will remain negative until prices stay below 25500 levels intraday. A decisive break down below 25240 will push prices lower towards 25144/25080/25000 areas. The counter needs to trade above 25500 mark to rebound towards 25634/25700 levels.

 Silver: Sustenance below 34150 will see silver prices weaken towards 34000/33850 zones. Intraday pullback rallies will face resistance between 34325—34400 zones. We expect the counter to trade in a range between 33850—34500 levels with a negative bias.

Nickel: Nickel prices will move higher once the counter breaks above 594 levels decisively. Prices will rally towards 601.50/610 levels in that case. The outlook for the counter will turn negative only if prices breakdown below 570. Until then intraday dips will find support between 579/575 zones.

 Aluminium: Aluminium prices can test resistance between 101.50/102.10 zones. The intraday outlook for the counter will remain positive until prices stay above 99.85 levels. A decisive breakdown below this support will see prices slip back towards 99 levels again.

Gold premiums in India fell this week as a quick rebound in prices prompted consumers to postpone purchases, but buying interest

NEWS:

· In China remained strong ahead of the spring festival early next year.  Aluminium producer China Hongqiao Group said on Thursday it will cut annual capacity by 250,000 tonnes immediately, the latest

· smelter to pledge to curb supplies as the loss making industry combats record low local prices.  OPEC forecast on Thursday that oil supply from non-member countries will fall more sharply next year, a development that would

· suggest its strategy reaffirmed last week of defending market share not prices is working.

Gold ended the U.S. day session modestly lower Thursday.

·  Selling pressure was mostly due to crude oil prices dropping to a near seven-year low and a solid· rebound in the U.S. dollar index, after strong losses seen by the index Wednesday.  Along with the bearish outside markets on this day, the overall bearish chart postures for both

· gold and silver markets are also keeping the sellers very confident.  A World Gold Council report says Russia and China central banks continue to buy up lower priced

· gold to add to their reserve stockpiles.