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The Grs Solution Weekly Commodity Report 23 September 2019
The Grs Solution Weekly Commodity Report 23 September 2019
The Grs Solution Weekly Commodity Report 23 September 2019
( WEEKLY MCX CALL SELL CRUDEOIL BELOW 4180 TGT 4140 TGT 4100 TGT 4060 SL 4240)
Monday 23 September.2019
✍MCX WEEKLY LEVELS
WEEKLY EXPIRY R3 R2 R1 PP S S2 S3
DATE 1
CRUDE OIL 21-OCT-2019 4450 4360 4230 4115 4030 3980 3760
NATURAL GAS 25-SEP-2019 189.90 186 181.20 177.60 171.30 168 162.30
(On the basis of last week data and the research of our expert you can get profit of 1 lac on the
investment of 3 lacs if you proper follow our guidelines it is also depends on market condition)
MCX - WEEKLY NEWS LETTERS
✍ GOLD
Yellow metal prices rose on last week in Asia, recovering from losses suffered in the previous session
following the conclusion of the U.S. Federal Reserve’s latest policy data.
The Fed cut rates for the second time this year on Wednesday, again by a quarter point. The federal funds
rate is now 1.75% to 2%.
The U.S. dollar, which usually moves in directions opposite to the yellow metal, remained largely unchanged
following the move as the cut was widely expected.
Gold prices recovered may be in this week, but traders remained cautious amid uncertainty over the next Fed
move.
✍ ENERGY
Crude Oil prices rose on last week in Asia and are set to record a more-than-7% weekly gain after a drone
attack on Saudi Arabia’s major oil facilities last weekend escalated tensions in the Middle East.
US President on Thursday discussed biofuels policy with senators from U.S. oil states, including Louisiana
Senator Bill Cassidy, who said the president was engaged on the issue that has pitted Big Oil and Big Corn
against each other.
The United States has, however, been trying to create a global maritime security alliance since attacks on oil
tankers in the Gulf.
Under the RFS, oil refineries must use billions of gallons of biofuels like ethanol in their gasoline - a
regulation intended to help farmers and cut U.S. petroleum imports, but which the oil industry says costs
them a fortune.
Small refining facilities of 75,000 barrels per day or less can secure waivers if they prove complying with the
regulation would cause them disproportionate financial hardship, and Trump's administration has handed
them out at a much higher rate than under former President Barack Obama.
Base metals traded on the Shanghai Futures Exchange were largely in positive territory during the morning
trading session on last week of September 20, but gains were limited owing to lingering macroeconomic
concerns.
LME base metals appear to be in wait-and-see mode, waiting for developments on trade talks and that is
likely to set the next direction. Bases seem to be in place, from which rallies could get underway, but if trade
talks turn sour again then there may well be room for another sell-off.
Three-month base metals prices on the London Metal Exchange were either firmer or little changed this
morning, with aluminium little changed and the rest up by an average of 0.3% - led by a 0.7% gain in nickel
to $17,425 per tonne. Copper was up by 0.3% at $5,813.50 per tonne.
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