TheEquicom investment advisers Coming Together Is Beginning, Working together is Success. PPP DAILY MCX NEWSLETTER Analyst Speaks:- 04 JAN. 2019 www.theequicom.com 09200009266. Mcx Gold To Trade Bearish Tracking Week Global Markets Page 1
BULLION: Gold prices up as dollar slips, hints of pause in rate hike cycle by Fed Gold prices edged higher on Tuesday, supported by hopes that the U.S. Federal Reserve could pause its rate hike cycle sooner than expected and as the dollar slipped after the previous session's rally. Spot gold was up 0.2per cent at $1,247.26 per ounce, as of 0719 GMT. It touched its highest in nearly five months at $1,250.55 in the prior session. U.S. gold futures were 0.2 per cent higher at $1,252.1 per ounce. "Weakening U.S. dollar outlook and very dovish pivots from the Fed, a lot of uncertainty boxed around equity markets... It can still turn quite negative, so this is why gold remains a good hedge against a lot of market risks," said Stephen Innes, APAC trading head at OANDA in Singapore. "I am very bullish on gold in this setup into 2019." The dollar index, a measure of the greenback's strength versus a group of six major peers, edged lower after rallying in the previous session as a vote on Brexit deal was postponed. BASE METAL: Commerce ministry favours hiking import duty on aluminium: Suresh Prabhu The commerce ministry is in favour of hiking import duty on aluminium with a view to support domestic manufacturers, Union Minister Suresh Prabhu has said. "That is a proposal to protect our domestic industry. The proposal is under examination and we support the proposal," Prabhu told PTI. The commerce and industry minister said that there has been a complaint by aluminium industry about dumping of the commodity. He was replying to a question about the government's plan to increase import duty on aluminium. The industry has demanded increase in import duties on aluminium scrap and primary aluminium amid a high growth in inward shipments of these items. ENERGY: Oil prices likely to gain early 2019 after production cuts: OPEC ministers Oil ministers from leading OPEC nations said Sunday they expect prices will arrest their recent slide and rebalance early next year, when a deal on new production cuts takes effect. Oil prices have shed more than 36 per cent since early October to trade at $54 (47 euros) per barrel, due to fears of oversupply and weak global demand. But president of OPEC and UAE Energy Minister Suhail al-mazrouei said that the surplus in the oil market was small compared to 2017 and expected it to vanish in one or two months. "Based on available figures, we have around 26 million barrels of surplus... compared to 340 million barrels in early 2017," Mazrouei told a press conference in Kuwait City. www.theequicom.com 09200009266. Page 2
BULLION GOLD (05 FEB.) TREND :- CONSOLIDATE. RESISTANCE :- 31900,32000 SUPPORT :- 31700,31600 STRATEGY :- BUY ON DIPS. SILVER (05 MAR.) TREND :- CONSOLIDATE. RESISTANCE :- 39800,40100. SUPPORT :- 39200,38900. STRATEGY :- BUY ON DIPS. www.theequicom.com 09200009266. Page 3
ENERGY CRUDEOIL (18 JAN.) TREND :- CONSOLIDATE. RESISTANCE :- 3320,3355. SUPPORT :- 3250,3215. STRATEGY :- BUY ON DIPS. NATURAL GAS (28 JAN.) TREND :- BEARISH. RESISTANCE :- 210.50,214.50 SUPPORT :- 202.50,198.50 www.theequicom.com 09200009266. Page 4
BASE METAL COPPER (28 FEB.) TREND :- BEARISH. RESISTANCE :- 403.50,407.00 SUPPORT :- 396.50,393.00 LEAD (31 JAN.) TREND :- BEARISH. RESISTANCE :- 137.50,139.00 SUPPORT :- 134.50,133.00 www.theequicom.com 09200009266. Page 5
ZINC (31 JAN.) TREND :- BEARISH. RESISTANCE :- 171.50,173.00 SUPPORT :- 168.50,167.00 ALUMINUM (31 JAN.) TREND :- CONSOLIDATE. RESISTANCE :- 130.50,132.00 SUPPORT :- 127.50,126.00 NICKEL (31 JAN.) TREND :- CONSOLIDATE. RESISTANCE :- 780.00,800.00 SUPPORT :- 740.00,720.00 www.theequicom.com 09200009266. Page 6
GOLD 1295.4 SILVER 15.794 COPPER 2.5973 CRUDEOIL 47.34 NATURAL GAS 2.929 USDINR 69.890 EURUSD 1.1396 USDJPY 108.31 USDCHF 0.9869 GBPUSD 1.2641 USDCAD 1.3482 www.theequicom.com 09200009266. Page 7
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