DAILY MCX NEWSLETTER 20-SEP.

-2013

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BULLION
Gold prices returned from red territory on Thursday after US Central Bank stated that it would continue with its monetary stimulus program till the economy returns to its solid growth path. Weak US Dollar was also seen supporting the yellow metal prices to certain extent in the global market. Gold futures for December delivery on Globex platform of Comex was seen trading up by 4.6% at $1368.2 per troy ounce as of 14.26 IST on Thursday. Tracking a firm gold trend on COMEX, India gold futures recorded an up-tick on Thursday. The trend in gold futures for October delivery on India's Multi Commodity Exchange (MCX) looks bullish for the day and intra-day traders are advised to stay on buy side.

BASE METAL
Comex copper edged up on Thursday and was seen trading positive supported by the statement from the US federal Reserve that it would continue with its monetary stimulus program till the economy backs to its solid growth path. Copper futures for December delivery on Globex platform of Comex was seen trading up by 1.83% at $3.34 per pound as of 16.24 IST on Thursday. LME copper for delivery in three months was seen trading up by 1.56% at $7317 per metric ton as of 15.05 IST on Thursday. The trend in copper futures for November delivery on India's Multi Commodity Exchange (MCX) looks sideways to bullish for the day and traders are advised to stay on buy side.

ENERGY
Crude oil prices may climb further this week as US Federal Reserve said it will maintain its monthly bond purchases at $85 bn levels. WTI crude rose to $108.72 per barrel while ICE Brent Crude rose to $11.06 per barrel. WTI crude oil witness the biggest increase since August 27 on Wednesday by climbing 2.5% to $108.07 per barrel. Brent for November settlement rose as much as 50 cents, or 0.5 percent, to $111.10 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $3.10 to WTI for the same month. The spread shrank for a third day yesterday to $3.32, the narrowest since Aug. 19, Bloomberg reported.

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BULLION
GOLD (5 OCT.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : -CONSOLIDATE : - 30670, 31000 : - 30140, 29700 : - BUY ON DIPS

SILVER (5 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 51950, 52500 : - 51050, 50700 : - BUY ON DIPS HIGH

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ENERGY

CRUDEOIL (21 OCT.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 6740, 6800 : - 6560, 6500 : - SELL ON HIGHS

NATURAL GAS (25 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 234.70, 240.00 : - 229.60, 227.00 : - BUY ON DIPS

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BASE METAL
COPPER (29 NOV.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : -467.00, 472.00 : - 459.00, 455.00 : - BUY ON DIPS

LEAD (30 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 132.00, 133.60 : - 130.00, 128.70 : - BUY ON DIPS

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ZINC (30 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 117.40, 118.00 : - 116.00, 115.10 : - BUY ON DIPS

ALUMINUM (30 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 111.90, 112.70 : - 110.60, 109.15 : - BUY ON DIPS

NICKEL (30 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 900.00, 920.00 : - 872.00, 860.00 : - BUY ON DIPS

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GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1365.55 22.948 03.342 105.55 03.698 731.80 1459.00

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

61.7700 01.3534 99.3800 00.9105 01.6033 01.0268

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