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Commodity Daily Prediction Report For 08-09-2017 by TradeIndia Research
Commodity Daily Prediction Report For 08-09-2017 by TradeIndia Research
301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 18003157801
08/09/2017
301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 18003157801
08/09/2017
TECHNICAL ANALYST
GOLD
OUTLOOK:
TREND: - UP
TECHNICAL OUTLOOK
COMEX Gold futures hit fresh one year highs amid sustained buying interest following the US- North Korea worries
and a massive slide in Bitcoin this week. The commodity has been in an impressive mode after breaking above the
key $1300 per ounce levels. Speculative demand remains supportive for the metal too. The counter is currently
trading at $13457 per ounce, up half a percent on the day. MCX Gold futures closed around Rs 30280 per 10 grams
amid sustained buying interest.
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08/09/2017
OUTLOOK:
SILVER
TREND: - UP
TECHNICAL OUTLOOK
The Prices of silver were gained on Thursday. And at end of the day the prices were settled at 41617 per 30
kilogram. On the higher side Rs 41160 per 30 kilogram as resistances were noted while lows were at Rs 41775 per
30 kilograms as support noted. The metals remain under a volatile zone.
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08/09/2017
COPPER
OUTLOOK:
TREND: - UP
RESISTANCE: - 449.50,453.
TECHNICAL OUTLOOK
The incessant rally of Copper has witnessed some halt in the trades on Thursday. The prices have corrected by over
0.9% in the day trades. Profit booking in the trading circles is the major cause of this correction. Traders are trying
to book profits ahead of coming weekend and also on doubts that China will not be able to sustain this rally single
handedly.
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08/09/2017
CRUDE OIL
OUTLOOK:
TREND: - DOWN
TECHNICAL OUTLOOK
The international crude oil price of Indian Basket as computed today by Petroleum Planning and Analysis Cell (PPAC)
under the Ministry of Petroleum and Natural Gas was US$ 52.97 per barrel (bbl) on 06.09.2017. This was higher than
the price of US$ 51.95 per bbl on previous publishing day of 05.09.2017. In rupee terms, the price of Indian Basket
increased to Rs. 3401.13 per bbl on 06.09.2017 as compared to Rs. 3330.58 per bbl on 05.09.2017. Rupee closed
weaker at Rs. 64.21 per US$ on 06.09.2017 as compared to Rs. 64.12 per US$ on 05.09.2017.
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08/09/2017
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investment decision. The report does not provide individually tailor-made
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