Commodity Daily Premium Journal

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Sebi Reg. No.:- INH000003358

GOLD 29420

SILVER 39700

17th November
2017, Friday

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 Market Wrapup
Thursday, 16th Nov 2017

Scrip Contract Open Price High Low Close Price

Gold 05-Dec-2017 29501 29536 29445 29476

Silver 39702 39860 39583 39740

05-Dec-2017

Crude Oil 17-Nov-2017 3621 3628 3582 3604

Natural Gas 27-Nov-2017 202.5 203.4 199.4 200.1

Copper 30-Nov-2017 441.7 443.9 437.55 439.55

Zinc 30-Nov-2017 208.1 208.95 206 206.4

Lead 30-Nov-2017 158.35 159.3 156.4 156.7

Aluminium 30-Nov-2017 137.5 138.55 136.3 136.7

Nickel 30-Nov-2017 763.6 765.7 737.5 742

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Support & Resistance
Friday, 17th Nov 2017

Scrip Contract RES-2 RES-1 PIVOT SUP.1 SUP.2

Gold 05-Dec-2017 29585 29544 29494 29453 29403

Silver 05-Dec-2017 40024 39911 39747 39634 39470

Crude Oil 17-Nov-2017 3649 3624 3603 3578 3557

Natural Gas 27-Nov-2017 205 202.7 201 198.7 197

Copper 30-Nov-2017 446.60 442.95 440.25 436.60 433.90

Zinc 30-Nov-2017 210.1 208.25 207.15 205.3 204.2

Lead 30-Nov-2017
160.35 158.50 157.45 155.60 154.55

Aluminium 30-Nov-2017
139.4 137.95 137.15 135.7 134.9

Nickel 30-Nov-2017
776.30 758.70 748.1 730.50 719.90

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MCX Outlook
Friday, 17th Nov 2017
Base Metals consolidate; intraday bias remains negative
Base Metals fell into a trading range after crashing sharply earlier driven by weaker data from China. We have had a mixed trading session since
open today with Lead and Nickel down one-third of a percent whereas Copper is barely unchanged at 441.35.

The short-term bias in base metals is negative. Prices have come under pressure from both weaker data from China as well as an oversaturated
speculative market which even though was driven by strong fundamentals continue to remain overpriced in the short term.

Traders should be cautious of the ongoing volatility and weakening correlation between the group metals. We could advise considering short
selling base metals higher on rallies today.

Copper faces the next set of resistance at 445 breaking which another attempt at 448-50 is expected this week whereas, on the downside, a
breakdown below 438 should see the downtrend resume for price objectives at 430-25 in the next few trading sessions.

Crude Oil extends losses as doubts raised over OPECs resolve to cut production
Crude Oil is also trading with a neutral-positive bias in intraday. MCX Crude is trading at 3609, down 12 points or 0.33%.

Crude Oil dropped recently after market participants raised concerns over OPECs resolve to extend production cuts beyond March 2018 when
the cartel meet on November 30. This comes after Russia raised doubts that the OPEC has no concrete plan on how to reduce output and
would possibly extend the decision into next year.

The recent uptrend in prices has been largely supported by falling US inventories along with OPECs increasing compliance to production quotas.
The market fundamentals continue to remain supported but a short-term correction in prices is expected we feel prices may decline to 3550-
3500 and consolidate at lower ranges before further momentum for an upside can be built.

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Market News
Friday, 17th Nov 2017

Special News
Gold Gains In Asia As US Tax Cut Views Stoke Inflation Concerns
Gold prices edged up in Asia as U.S. tax cuts move closer to passage, raising inflation concerns
for some investors.
Gold futures for December delivery on the Comex division of the New York Mercantile Exchange
rose 0.43% to $1283.66 a troy ounce. Overnight, the U.S. House of Representatives passed its
version of the tax cut legislation while a key committee reported its version to the full U.S. Senate.
Overnight, gold prices were roughly unchanged on Thursday as the recent trend of flattening yields
faded but downside momentum was capped by dollar weakness on the back of soft economic data.
Ahead of the GOP House vote on tax reform, gold prices traded in a narrow range on Thursday as gains amid a falling dollar were capped
by an uptick in treasury yields.
The U.S. Department of Labor reported Thursday that initial jobless claims increased 10,000 a seasonally adjusted 249,000 for the week
ended Nov. 11, missing forecasts of a 4,000 decrease.
Crude Oil Mixed In Asia As US Benchmark Gains Ahead Of Rig Count Data
Crude oil prices were narrowly mixed on Friday as investors looked ahead to weekly US rig count
figures to set the tone.
On the New York Mercantile Exchange crude futures for December delivery rose 0.33% to $55.32
a barrel, while on London's Intercontinental Exchange, Brent lost 0.21% to $61.23 a barrel.
Overnight, crude oil prices settled lower on Thursday as investors fretted over a potential uptick in
global supply amid reports that Turkey and Iraq discussed resuming exports from the Kirkuk-
Ceyhan pipeline.
A discussion between Iraq and Turkey on resuming Kirkuk oil export from the Ceyhan pipeline sparked fears of oversupply as many said a
possible uptick in exports would forced OPEC to rein in production.
The priority is to resume oil exports from Kirkuk through the Iraqi-Turkish pipeline once it has been rehabilitated or replaced by a new
one, Iraqs Oil Minister Jabbar al-Luaibi said.

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Market News
Friday, 17th Nov 2017

Commodity Buzz
Silver market under fresh buying; Resistance seen at 39911
Technically Silver market is under fresh buying as market has witnessed gain in open interest by 0.06% to settled at 12688 while prices up 88
rupees.
Now MCX Silver is getting support at 39634 and below same could see a test of 39470 levels and resistance is now likely to be seen at 39911,
a move above could see prices testing 40024.
Silver on MCX settled up 0.22% at 39799 gained marginally despite the recent trend of flattening yields faded but downside momentum was
capped by dollar weakness on the back of soft economic data.
While ahead of the GOP House vote on tax reform, gold prices traded in a narrow range on Thursday as gains amid a falling dollar were capped
by an uptick in treasury yields. The U.S. Department of Labor reported Thursday that initial jobless claims increased 10,000 a seasonally adjusted
249,000 for the week ended Nov. 11, missing forecasts of a 4,000 decrease.
MCX Crude Oil may trade in a range between 3557-3649
Technically Crude Oil market is getting support at 3578 and below same could see a test of 3557 levels and resistance is now likely to be seen
at 3624, a move above could see prices testing 3649.
Crude Oil on MCX settled down 0.58% at 3600 as continued to fall in yesterdays session amid a flurry of US economic data. Crude oil prices are
on track for their first weekly fall in six weeks as concerns about surging U.S. supplies put a dent in the market's recent rally.
Crude markets have received general support in the past months by the OPEC, which together with some non-OPEC producers including Russia
has been withholding production since January in order to tighten the market and prop up prices.
Meanwhile a discussion between Iraq and Turkey on resuming Kirkuk oil export from the Ceyhan pipeline sparked fears of oversupply as many
said a possible uptick in exports would force OPEC to rein in production.
The priority is to resume oil exports from Kirkuk through the Iraqi-Turkish pipeline once it has been rehabilitated or replaced by a new one, Iraqs
Oil Minister Jabbar al-Luaibi said. That added to recent fears that rising U.S. production would dampen the impact of OPECs production cuts,
which so far are widely believed to be moving oil markets closer to rebalancing.

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Analyst Speaks
Friday, 17th Nov 2017

Gold MCX

Technically Gold market is under long liquidation as market has witnessed RESISTANCE 2 29585
drop in open interest by 2.03% to settled at 4972 while prices down 22
rupees.
RESISTANCE 1 29544
Now MCX Gold is getting support at 29454 and below same could see a test
of 29404 levels and resistance is now likely to be seen at 29545, a move
above could see prices testing 29586. PIVOT 29494

SELL GOLD AROUND 29450-29440 SUPPORT 1 29453

TGTS 29340/29240 SL 29550
SUPPORT 2 29403

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Analyst Speaks
Friday, 17th Nov 2017

CRUDE OIL MCX

Technically Crude Oil market is getting support at 3578 and below same RESISTANCE 2 3649
could see a test of 3557 levels and resistance is now likely to be seen at
3624, a move above could see prices testing 3649.
RESISTANCE 1 3624
Crude Oil on MCX settled down 0.58% at 3600 as continued to fall in
yesterday's session amid a urry of US economic data. Crude oil prices
are on track for their rst weekly fall in six weeks as concerns about PIVOT 3603
surging U.S. supplies put a dent in the market's recent rally.
SUPPORT 1 3578
SELL CRUDE OIL AROUND 3600-3595
TGTS 3565/3535 SL 3660 SUPPORT 2 3557

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Todays Economic Events
Friday, 17th Nov 2017

COUNTRY TIME EVENT ACTUAL FORECAST PREVIOUS

7:00pm Building Permits 1.25M 1.23M

USD
Housing Starts 1.19M 1.13M

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Team :
Name Designation Email

Mr. Prateek Gupta (Technical Research Analyst-head)

Mr. Lakhan Patidar (Sr. Derivative & Technical Analyst)

Mr. Dharmendra Saloniya (Commodity Research Analyst)

Mr. Shubham Chinwar (Sr. Graphic Designer)

Checked By :-

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