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16-MAY.-2014
DAILY MCX NEWSLETTER
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BULLION:
Gold was trading Rs 80 lower at Rs 29,780 per 10 grams in the local grey
market on Wednesday, pressured partly by a gain in the rupee. The official
market in Zaveri Bazaar is closed because of the Buddha Purnima festival.
Gold rose on Wednesday after the dollar and European equities came under
pressure as investors awaited confirmation of further stimulus from the
European Central Bank. Gold was also lifted by strong gains in platinum and
palladium on worries that increasing labour tensions in major producer South
Africa could hurt supply.
ENERGY:
The price of oil declined Thursday after official figures showed US crude
production at a 28-year high.
Benchmark US crude for June delivery was down 42 cents to $101.95 a barrel at
0740 GMT on the New York Mercantile Exchange. The contract rose 67 cents on
Wednesday to close at $102.37.
The US Energy Information Administration said Wednesday that domestic crude
production reached 8.428 million barrels during the week ended May 9. That was
the highest level since October 1986.
BASE METAL:
Nickel prices declined modestly after four session surge non-ferrous metal
market here today on reduced demand from stockists in the backdrop of lower
global cues.
Meanwhile, tin, aluminium ingots and select copper moved up owing to good
offtake from industrial users. The industrial metal nickel slipped at the LME in
early trade, losing steam after supply concerns drove a rally of more than 15
percent in three days, while London copper steadied on the prospect that a
slowdown in top consumer China could be countered by fresh stimulus.

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GOLD (5 JUN.)
SILVER (5 JULY.)
BULLION
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 42100, 42400
SUPPORT : - 41300, 41000
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 28600, 28800
SUPPORT : - 28200, 28000
STRATEGY : - SELL ON HIGH

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CRUDEOIL (19 MAY.)
NATURAL GAS (27 MAY.)
ENERGY
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 271 .00, 275.00
SUPPORT : - 262.00, 258.00
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 6080, 6120
SUPPORT : - 5990, 5960
STRATEGY : - SELL ON HIGH

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COPPER (30 JUN.)
LEAD (30 MAY.)
BASE METAL
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 127.00, 128.00
SUPPORT : - 124.00, 123.00
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 419.00, 422.00
SUPPORT : - 412.00, 408.00
STRATEGY : - SELL ON HIGH

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ZINC (30 MAY.)
ALUMINUM (30 MAY.)
NICKEL (30 MAY.)
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 1120.00, 1140.00
SUPPORT : - 1090.00, 1065.00
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - BEARISH
RESISTANCE : - 105.00, 106.00
SUPPORT : - 102.00, 101.00
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 124.00, 125.00
SUPPORT : - 121.00, 120.00
STRATEGY : - SELL ON HIGH

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GOLD 1296.58
SILVER 19.482
COPPER 3.145
CRUDEOIL 101.84
PALLANDIUM 813.10
PLATINUM 1465.60
USDINR 58.8800
EURUSD 01.3715
USDJPY 101.446
USDCHF 00.8903
GBPUSD 01.6789
USDCAD 01.0870

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