Daily mcx newsletter 21 aug 2013

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MCX NEWSLETTER
Daily MCX Newsletter
21-AUG-2013
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21-AUG-2013
MCX NEWSLETTER- DAILY
Daily MCX Newsletter
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DAILY

MARKET WRAP
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BULLION
Is there more weakness in store for gold? Probably yes.
Lower gold prices have failed to attract buyers, which
may lead to further downfall in the yellow metal. Gold
has fallen as much as $140 an ounce in recent trades, due
to worries over the potential winding down of the U.S.
Federal Reserve's $85 billion monthly bond purchases. In
the London Metal Exchange (LME), gold for immediate
delivery fell 0.4% to $1,247.66 an ounce on Thursday.
Prices, which rose 0.8% yesterday, slumped to $1,180.50
on June 28, the lowest since August 2010.
In the US, gold for August delivery fell 0.4% to $1,246.60
on the Comex in New York, where floor trading is shut
today for Independence Day, following yesterday’s 0.7%
gain. A US employment data will decide the future trend
for Federal Reserve’s plans to bring down stimulus. This
may further decide the future trend for gold.
Gold fell to $1,180.71 in June, lowest since August 2010,
after indications from the Fed that it could curtail its
stimulus programme in the next few months, earlier than
expected. Fed announced series of bond buying
programs after financial crisis of 2008. This helped gold
prices to increase the safe-haven appeal of gold as a
hedge against inflation, driving prices to a record above
$1,900 an ounce in September 2011. However, the lower
prices have failed to woo buyers in Asia and elsewhere as
consumers expect a further drop. As per a Reuters
report, sales of gold coins and bars at the Perth Mint
nearly halved in June from May, reflecting a slowing
appetite for bullion despite prices being near three-year
lows.
MARKET NEWS
Copper prices in both domestic and global market are
witnessing negative trend due to concerns over global
economic recovery. Copper is expected to trade less
volatile as US markets are closed for the day on
account of Independence Day.
consumer, has indicated sings of slowdown in
industrial production. In addition, copper inventories
are well over 600,000 tons, which is high on a historic
basis.
which may create stockpiles of copper
further pressurizing the prices. People are worried
that China, which really drives a lot of the metal
Eurostat is scheduled to release its data on Eurozone
Quarterly Gross Domestic Product at 02.30 PM
today.
release its decision on interest rate at 05.15 PM IST
which is followed by president Mario Draghi's speech
at 06.00 PM IST today. The base metal investors may
get trading clues from the speech for the
US Non
at 06.00 PM IST on Friday by which investors are
expected to get clues on the health of the world's
largest economy.
unemployment insurance weekly claims was 343,000,
a decrease of 5,000 from the previous week's revised
figure of 348,000, according to the data released by
+919200009266
Oil prices fell on Thursday after the military
Egypt. The prices had surged by 3%
two days. The price of US crude had hit a 14
on Wednesday on concerns over political turmoil in
Egypt, as well as rising US oil demand.
crude fell two cents to below
crude dropped 36 cents to $105.40.
Analysts believe that the crude oil prices would further
soften as the tension along the Suez canal has eased.
Also, US stock piles have further put pressure on the
But the gap b
benchmarks continued to narrow. ICE Brent for August
was down 62 cents, or 0.59%, at $105.14.
August was down 44 cents, or 0.43%, at $100.80
trading above the $100 mark, having climbed above the
symbolic leve
The U.S. markets will be closed later for the
Independence Day public holiday.
A Wall Street Journal report stated that U.S. benchmark
West Texas International, or WTI, had a lot to do with the
easing of the glu
that has kept prices depressed. When there is a lot of oil
available, supply fears recede and the price remains low,
but now oil is leaving the facility more quickly.
futures continued making headway ove
trading session with ICE Brent gaining 1.69% [day on day]
to settle at $105.76 per barrel while Nymex WTI settled
above the $100 per barrel mark for the first time in 14
months," wrote analysts at JBC Markets.
BASE METAL
Copper prices in both domestic and global market are
witnessing negative trend due to concerns over global
economic recovery. Copper is expected to trade less
volatile as US markets are closed for the day on
account of Independence Day. China being the largest
consumer, has indicated sings of slowdown in
industrial production. In addition, copper inventories
are well over 600,000 tons, which is high on a historic
basis. China’s manufacturing numbers are weakening,
which may create stockpiles of copper, thereby
further pressurizing the prices. People are worried
that China, which really drives a lot of the metal
stories, is not growing as fast as expected.
Eurostat is scheduled to release its data on Eurozone
Quarterly Gross Domestic Product at 02.30 PM IST
today. European Central Bank (ECB) is scheduled to
release its decision on interest rate at 05.15 PM IST
which is followed by president Mario Draghi's speech
at 06.00 PM IST today. The base metal investors may
get trading clues from the speech for their further
trading.
US Non-farm pay roll data is scheduled to be released
at 06.00 PM IST on Friday by which investors are
expected to get clues on the health of the world's
largest economy. In the week ending June 29, the
advance figure for seasonally adjusted US
unemployment insurance weekly claims was 343,000,
a decrease of 5,000 from the previous week's revised
figure of 348,000, according to the data released by
the US Department of Labor.
ENERGY
Oil prices fell on Thursday after the military coup in
Egypt. The prices had surged by 3%-5% over the previous
two days. The price of US crude had hit a 14-month high
on Wednesday on concerns over political turmoil in
Egypt, as well as rising US oil demand. US light sweet
crude fell two cents to below $101 a barrel, and Brent
crude dropped 36 cents to $105.40.
Analysts believe that the crude oil prices would further
soften as the tension along the Suez canal has eased.
Also, US stock piles have further put pressure on the
crude oil prices.
But the gap between the US and European oil
benchmarks continued to narrow. ICE Brent for August
was down 62 cents, or 0.59%, at $105.14. Nymex for
August was down 44 cents, or 0.43%, at $100.80--still
trading above the $100 mark, having climbed above the
symbolic level yesterday for the first time in 14 months.
The U.S. markets will be closed later for the
Independence Day public holiday.
A Wall Street Journal report stated that U.S. benchmark
West Texas International, or WTI, had a lot to do with the
easing of the glut at the U.S. oil storage facility in Cushing
that has kept prices depressed. When there is a lot of oil
available, supply fears recede and the price remains low,
but now oil is leaving the facility more quickly. "Crude
futures continued making headway over yesterday's
trading session with ICE Brent gaining 1.69% [day on day]
to settle at $105.76 per barrel while Nymex WTI settled
above the $100 per barrel mark for the first time in 14
months," wrote analysts at JBC Markets.

TECHNICAL
VIEW
+919200009266
GOLD (5 OCT)
OUTLOOK:
TREND : -CONSOLIDATE
RESISTANCE : - 31180, 31280
SUPPORT : - 30680, 30240
STRATEGY : - BUY ON DIPS
SILVER (5 SEP)
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 51200, 51500
SUPPORT : - 50250,49160
BULLION
CONSOLIDATE
31280
30240
BUY ON DIPS
CONSOLIDATE
51500
49160
BUY ON DIPS

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ENERGY
CRUDEOIL (19 SEP)
OUTLOOK:
RESISTANCE : - 6780, 6835
SUPPORT : - 6680, 6640
NATURAL GAS (27 AUG
OUTLOOK:
RESISTANCE : - 222.30, 224.20
SUPPORT : - 216.60, 212.80
7 AUG)

BASE METAL
+919200009266
BASE METAL
COPPER (30 AUG.)
OUTLOOK:
RESISTANCE : - 468.50, 470.75
SUPPORT : - 462.20, 461.15
LEAD (30 AUG)
OUTLOOK:
RESISTANCE : - 142.20, 143
SUPPORT : - 140.70, 137.80

www.TheEquicom.com +919200009266+919200009266
ZINC (30 AUG)
OUTLOOK:
RESISTANCE : - 124.50, 125.70
SUPPORT : - 122.45, 121.35
ALUMINUM (30 AUG
OUTLOOK:
RESISTANCE : - 119.50, 120.75
SUPPORT : - 116.25, 114.50
NICKEL (30 AUG)
OUTLOOK:
RESISTANCE : - 938.80, 947.50
SUPPORT : - 920.40, 911.10
0 AUG)

GOLD 1371
SILVER 23.088
COPPER 03.327
CRUDE OIL 104.80
NATURAL GAS 03.4
PALLADIUM 747.6
PLATINUM 1518.
INTERNATIONAL
MARKET
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71.47
88
327
80
429
60
. 50
USDINR 6
EURUSD 0
USDJPY 9
USDCHF 00.9
GBPUSD 01.5
USDCAD 01.0
IONAL
63.1200
01.3424
97.2200
00.9165
01.5661
01.0405

ECONOMIC
CALANDER
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accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that sui
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made investment advice. TheEquicom recommends that investors independently evaluate
ts and strategies, and encourages investors to seek the advice of a financial adviser. TheEquicom shall
not be responsible for any transaction conducted based on the information given in this report, which is in violation of rule
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his free will and does not read any views expressed as a recommendation for which either the
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Daily mcx newsletter 21 aug 2013

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Daily mcx newsletter 21 aug 2013