Friday 7 December 2012
Morgan Stanley's best picks for 2013: Gold, Silver !!!
Gold, silver and corn will outperform other raw materials next year as a weaker dollar and rising investor demand bolster precious metals while supply curbs aid grains, Morgan Stanley said, listing top picks for 2013.
Silver will track gold, which is poised to gain on low real interest rates, buying by central banks and geopolitical uncertainty, analysts including Peter Richardson and Hussein Allidina wrote in a report on Thursday, reiterating an October call. Corn and soya beans should benefit from harvest delays in South America, they said.
The bank is bearish on aluminum, sugar, nickel and uranium as supplies are set to outpace demand. Morgan Stanley joins Goldman Sachs Group in predicting the so-called super-cycle isn't over. "Higher prices in recent years have brought both a supply and demand response, bringing many to call for the end" of the super-cycle, they wrote. Gold may average $1,853 an ounce in 2013, while silver may be $35 an ounce, Morgan Stanley said.
That compares with gold's average of $1,668 so far this year and $31.1542 for silver. Soya beans may average $15.70 a bushel in 2012-2013, it said.
NIFTY INDEX LEVELS FOR TODAY
Nifty closed on a slight bullish note at 5930.90 So today the first resistance for nifty is at 5959 level. Next resistance ranges are at 5990,6006 levels. On downside first support is at 5897 level. Next supports are at 5868 level.So today the main intra resistance are at 5964 and 5988 level and on downside be alert below 5897 and avoid longs if below 5868 level.
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