Published On 08 JAN 2019 Research Analyst Report 08 08 JAN 2019 SILVER GOLD 31,618 39,075 Premium Commodity Daily Journal Strictly for Client Circulation
Market Wrap Mon 07 Jan 2019 Scrip Name Contract Open High Low Close GOLD SILVER CRUDE OIL NATURAL GAS COPPER ZINC LEAD ALUMINIUM NICKEL 05-Feb-2019 05-Mar-2019 18-Jan-2019 26-Jan-2019 28-Feb-2019 31529 31758 31448 31648 39224 39522 39161 39222 3381 3481 3374 3442 209.7 209.7 203.7 205.3 409.2 411.8 406.65 409.75 172.15 176.4 171.65 176.1 136.2 137 135.45 136.15 129.85 131.3 129.3 130.6 773 780.3 769.6 776
Support & Resistance Tue 08 Jan 2019 Scrip Name GOLD SILVER CRUDE OIL NATURAL GAS COPPER ZINC LEAD ALUMINIUM NICKEL Contract 05-Feb-2019 05-Mar-2019 18-Jan-2019 26-Jan-2019 28-Feb-2019 Res 2 Res 1 Pivot Sup 1 Sup 2 31928 31788 31618 31478 31308 39663 39442 39302 39081 38941 3539 3491 3432 3384 3325 212.2 208.8 206.2 202.8 200.2 414.6 412.2 409.4 407.0 404.3 179.5 177.8 174.7 173.0 170.0 137.8 137.0 136.2 135.4 134.7 132.4 131.5 130.4 129.5 128.4 786.0 781.0 775.3 770.3 764.6
MCX Outlook Tue 08 Jan 2019 COMEX Copper Falls In Asia- COMEX Copper dropped in Asia amid mixed cues from equities. The metal slipped amid weak equities and profit selling pressure last week. The commodity tested near four month low under $2.60 per pound in global markets. The counter currently trades at $2.62 per ounce, down 0.38% on the day. MCX Copper futures closed flat around Rs 409.65 per kg yesterday after testing near Rs 400 levels last week. Germany's manufacturing new orders decreased for the first time in four months in November. Factory orders decreased a calendar and seasonally adjusted 1% from October, when they grew 0.2%, revised from 0.3% reported earlier, preliminary data from Destatis showed on Monday. MCX Crude Jumps 2.60 %- WTI Crude oil futures surged near three week high as sentiment picked up ahead of a round of trade negotiations between the United States and China in Beijing. The US and China are holding vice ministerial level trade talks in Beijing on January 7-8, according to the Chinese commerce ministry. Worries over the trend in US shale oil output also pushed up the WTI Crude oil and the commodity currently trades at $48.66 per barrel, up 0.30% on the day. MCX Crude closed at Rs 3436 per barrel, up 2.60% on the day.
Market News Tue 08 Jan 2019 Special News Gold Extends Correction From Six Month High- COMEX Gold eased after correcting from its six month high last week on gains in US stock markets. However, the global economic data continued to offer a lukewarm picture of the growth trends. Rising oil prices also supported the yellow metal and could cap the downside. The commodity currently trades at $1286 per ounce, down 0.30% on the day. MCX Gold futures closed at Rs 31633 per 10 grams, up 0.56% on the day after hitting a high near Rs 31760 per 10 grams in intraday moves. ASA Estimates US Exports To China Swells 26 Times In Last 10 Years- As per latest data by American Soybean Association (ASA), the value of U.S. soybean exports to China has grown 26-fold in 10 years, from $414 million in 1996 to $14 billion in 2017. China imported 31 percent of U.S. production in 2017, equal to 60 percent of total U.S exports and nearly one in every three rows of harvested beans. Over the next 10 years, Chinese demand for soybeans is expected to account for most of the growth in global soybean trade, making it a prime market for the U.S. and other countries. US Non-Manufacturing Index Slows In December- US service sector activity slowed to 57.6 in the month of December after inching up to 60.7 in November, a report released by the Institute for Supply Management on Monday showed. A reading above 50 still indicates service sector growth. The bigger than expected decrease by the headline index was partly due to notably slower growth in business activity, with the business activity index tumbling to 59.9 in December from 65.2 in November. The employment index also slid to 56.3 in December from 58.4 in November, indicating a slowdown in the pace of job growth in the service sector.
Commodity Buzz Tue 08 Jan 2019 MCX Aluminium under short covering. Rupee weakens against dollar as crude oil prices rise. Gold gains on dollar weakness, dovish Fed; palladium sets new record. Natural Gas Price Prediction Prices Drop but Hold Support.
Analyst Speaks Tue 08 Jan 2019 MCX GOLD Technically Gold market is getting support at 31478 and below same could see a test of 31308 levels and resistance is now likely to be seen at 31788, a move above could see prices testing 31928. GOLD FEB BUY AROUND 31600-31590 TGTS 31700/31800 SL 31490 RESISTANCE 2 RESISTANCE 1 PIVOT SUPPORT 1 SUPPORT 2 31928 31788 31618 31478 31308
Analyst Speaks Tue 08 Jan 2019 MCX CRUDE OIL Technically Crude Oil market is getting support at 3384 and below same could see a test of 3325 levels and resistance is now likely to be seen at 3491 a move above could see prices testing 3539. CRUDE OIL JAN SELL AROUND 3430-3435 TGTS 3390/3950 SL 3475 RESISTANCE 2 RESISTANCE 1 PIVOT SUPPORT 1 SUPPORT 2 3539 3491 3432 3384 3325
Today s Economic Events Tue 08 Jan 2019 COUNTRY USD TIME EVENTS ACTUAL FORECAST PREVIOUS - - - - -
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