Published On 13 FEB 2019 Research Analyst Report 13 GOLD 32,854 FEB 2019 SILVER 39,538 Premium Commodity Daily Journal Strictly for Client Circulation Email: research@24cfin.com & contactus@24cfin.com
Market Wrap Tue 12 Feb 2019 Scrip Name Contract Open High Low Close GOLD SILVER CRUDE OIL NATURAL GAS COPPER ZINC LEAD ALUMINIUM NICKEL 05-Apr-2019 05-Mar-2019 18-Feb-2019 25-Feb-2019 32995 33075 32813 32851 39885 39950 39426 39503 3764 3824 3729 3782 190 191.2 186 189.4 439 439.6 430.65 432.6 188.3 188.65 184.1 184.35 145.15 146 142.85 144.05 131.3 133.65 130.2 130.3 882.3 884.8 860.3 871.8
Support & Resistance Wed 13 Feb 2019 Scrip Name GOLD SILVER CRUDE OIL NATURAL GAS COPPER ZINC LEAD ALUMINIUM NICKEL Contract 05-Apr-2019 05-Mar-2019 18-Feb-2019 25-Feb-2019 Res 2 Res 1 Pivot Sup 1 Sup 2 33175 33013 32913 32751 32651 40150 39827 39626 39303 39102 3873 3828 3778 3733 3683 194.1 191.7 188.9 186.5 183.7 443.2 437.9 434.3 429.0 425.3 190.3 187.3 185.7 182.8 181.2 147.5 145.8 144.3 142.6 141.2 134.8 132.6 131.4 129.1 127.9 896.8 884.3 872.3 859.8 847.8
MCX Outlook Wed 13 Feb 2019 India Consumer Price Inflation Slows in January- India industrial production grew at a faster-than-expected pace at the end of last year, data from the statistical office on Tuesday showed. Industrial production rose 2.4 percent year-onyear in December. Manufacturing output grew 2.7 percent and electricity generation rose 4.4 percent. In contrast, mining production decreased 1 percent. India Consumer Price Inflation Slows in January- India's consumer price inflation index rose 2.05 percent year-on-year in January following a 2.11 percent climb in December, which was revised from 2.19 percent, figures from the Central Statistics Office showed on Tuesday. Food inflation remained in negative territory in January, at -2.17 percent versus -2.65 percent in December. Vegetable prices tumbled 13.32 percent and prices of fruits decreased 4.18 percent. Egg prices fell 2.44 and prices of pulses and products declined 5.50 percent. Core inflation remained high, above 5 percent in January. Last week, the Reserve Bank of India unexpectedly cut the key interest rate and shifted its policy stance to neutral from calibrated tightening. The RBI lowered the path of CPI inflation to 2.8 percent in the fourth quarter of 2018-19, 3.2-3.4 percent in the first half of 2019-20 and 3.9 percent in the third quarter of 2019-20, with risks broadly balanced around the central trajectory. The outlook for food inflation appears particularly benign and the unusual pick-up in the prices of health and education could be a one-off phenomenon, the bank said. The oil price outlook continues to be hazy, the RBI added.
Market News Wed 13 Feb 2019 Special News Oil rises 1 pct on deepening OPEC supply cuts, sanctions on Venezuela- Oil prices rose on Wednesday as producer club OPEC said it had cut supply deeply in January and as U.S. sanctions hit Venezuela's oil exports. U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were at $53.70 per barrel at 0344 GMT, up 60 cents, or 1.1 percent, from their last close. International Brent crude futures LCOc1 were up 1.1 percent, or 69 cents, at $63.11 per barrel. Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore, said oil prices were boosted after "Saudi Arabia announced it was cutting daily production and exports by a further 500,000 barrels per day (bpd) on top of its agreed OPEC quota cut". Organization of the Petroleum Exporting Countries (OPEC), which Saudi Arabia de-facto leads as the world's top crude oil exporter, said on Tuesday that it had cut its output by almost 800,000 bpd in January to 30.81 million bpd. issues in OPEC-member Venezuela are also bolstering oil prices as the South American country suffers a political and economic crisis, with Washington introducing petroleum export sanctions against state-owned energy firm PDVSA. Gold steady as Sino-US trade hopes drag dollar- Gold prices held firm on Wednesday as the dollar weakened on hopes of a trade deal between the United States and China, but an improved risk appetite limited gains.spot gold was steady at $1,311 per ounce, as of 0115 GMT. US gold futures were mostly unchanged at $1,314.20 per ounce.
Commodity Buzz Wed 13 Feb 2019 Natural Gas expected to trade between 180.4-201. MCX Copper likely to move in a range of 430.80-438.50. MCX Zinc likely to move in a range of 187.30-183.60. MCX Nickel under fresh selling; Resistance seen at 881.10. MCX Aluminum may trade between 132.30-130 levels.
Analyst Speaks Wed 13 Feb 2019 MCX GOLD Technically Gold market is getting support at 32751 and below same could see a test of 32651 levels and resistance is now likely to be seen at 33013, a move above could see prices testing 33175. GOLD APR SELL AROUND 32900-32910 TGTS 32800/32700 SL 33010 RESISTANCE 2 RESISTANCE 1 PIVOT SUPPORT 1 SUPPORT 2 33175 33013 32913 32751 32651
Analyst Speaks Wed 13 Feb 2019 MCX CRUDE OIL Technically Crude Oil market is getting support at 3733 and below same could see a test of 3683 levels and resistance is now likely to be seen at 3828 a move above could see prices testing 3873. CRUDE OIL FEB BUY ABOVE 3795 TGTS 3845/3895 SL 3745 RESISTANCE 2 RESISTANCE 1 PIVOT SUPPORT 1 SUPPORT 2 3873 3828 3778 3733 3683
Today s Economic Events Wed 13 Feb 2019 COUNTRY TIME EVENTS ACTUAL FORECAST PREVIOUS USD USD 7:00pm CPI m/m Core CPI m/m - - 0.1% 0.1% -0.1% 0.1% USD 09:00pm Crude Oil Inventories - 2.1M 1.3M
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