DAILY MCX NEWSLETTER 17-SEP.

-2013

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BULLION
Gold is glued to FOMC meet outcome on September 17th even as recent easing of prices taking cues from external markets, Barclays said. Easing of geo-political tensions and likely Fed tapering have already weakened prospects for gold. Higher equities as evidenced by rise n S&P Index, negative correlation between 10 year US Treasury yields and US dollar continue to have downward impact on prices. -Physical demand is showing slight pickup in China -Gold bar premiums rise i Tokyo -Indian prices are still above INR 30,000 per 10 grams with jewellers likely to step up purchases on festive season

BASE METAL
Copper prices edged down in the global market and was seen trading down amid concerns that US Federal reserve may start reducing its monetary stimulus later this month. This week, copper prices in the global market remained under pressure on concerns that US Federal Reserve may start curbing its monetary stimulus later this year on improving economic conditions in the United States and around the globe. The trend in copper futures for November delivery on India's Multi Commodity Exchange (MCX) looks bearish and intra-day traders are advised to take sell position for the day.

ENERGY
US crude oil declined on Friday and continued its downward movement. The commodity was seen trading bearish amid Russia and the United States started to find a diplomatic solution to persisting Syrian issue. Earlier in the last week, crude oil prices recorded a significant up-tick supported by the concerns that crude oil supply may get disrupted, if the United States start a military action against Syrian forces in response to alleged chemical weapons attack on Syrians by Syrian forces. Demand for crude oil from the Organization of Petroleum Exporting Countries (OPEC) in 2014 would be 29.2 million barrels per day (mb/d). The figure is 1.3 million lower than current production by OPEC, as per the estimates by International Energy Agency (IEA).

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BULLION
GOLD (5 OCT.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : -CONSOLIDATE : - 29920, 30150 : - 29590, 29400 : - SELL ON HIGHS

SILVER (5 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 50200, 50900 : - 49500, 48860 : - SELL ON HIGHS

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ENERGY

CRUDEOIL (19 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 6800, 6885 : - 6700, 6650 : - SELL ON HIGHS

NATURAL GAS (25 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 238.00, 240.00 : - 232.00, 228.50 : - BUY ON DIPS

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BASE METAL
COPPER (29 NOV.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : -460.20, 465.00 : - 454.00, 451.00 : - SELL ON HIGHS

LEAD (30 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 129.90, 131.00 : - 128.10, 127.50 : - SELL ON HIGHS

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ZINC (30 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 117.10, 118.00 : - 115.70, 115.00 : - SELL ON HIGHS

ALUMINUM (30 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 111.15, 111.90 : - 111.90, 109.00 : - SELL ON HIGHS

NICKEL (30 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 885.00, 900.00 : - 864.50, 850.00 : - SELL ON HIGHS

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GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1313.44 21.877 03.214 105.76 03.759 705.20 1440.00

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

62.8300 01.3331 94.2400 00.9274 01.5894 01.0332

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