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31/07/2015

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DAILY MCX NEWSLETTER

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BULLION:

Gold prices eased slightly in early Asia on Friday as investors continued to assess

the likely timing of a Federal Reserve rate hike expected this year. On the Comex

division of the New York Mercantile Exchange, gold for December delivery eased

0.06% to $1.088.10 a troy ounce. On Wednesday, the Federal Open Market

Committee (FOMC) concluded its two-day July meeting without offering any

indications on whether it will adjust its benchmark Federal Funds Rate later this

fall. U.S. short-term interest rates have remained level between zero and 0.25%

for nearly six years since the end of the Financial Crisis. Nearly a decade has

passed since the Federal Reserve last instituted a rate hike.

BASE METAL: The IMF said it will not provide Greece a third

round of aid due to the country’s large debt

scale and inefficiency in reform execution.

German officials believe the German Bundestag

will unlikely approve the EUR 86 billion bailout

fund for Greece without the support from the

IMF. Germany’s unemployment increased 9,000

in July, lower than the 5,000 expected, with the

unemployment rate unchanged at 6.4%, which

is in line with market expectations. Euro zone

July CCI fell 7.1, flat at June’s and in compliance

with market anticipation. LME copper prices fell

to USD 5,210/mt as the US dollar index rose and

market was still affected by the weak Chinese

shares. LME copper closed at USD 5,257/mt,

down by USD 69/mt.

ENERGY:

Crude oil prices held steady to lower in early Asia on Friday the market looking ahead to U.S. data on working rigs as producers

weigh the cost of pumping more oil into an oversupplied market. On the New York Mercantile Exchange, WTI crude for September

delivery fell 0.03% to $48.51 a barrel. In June, the kingdom produced more than 10.6 million barrels a day, amounting to its highest

level on record. Some analysts predict that Saudi output could exceed 11 million bpd before the end of the summer.

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CS GOLD (AUGUST) OVERVIEW:

TREND :SIDEWAYS

RESIST 2: 25025 RESIST 1: 24860

SUP 1: 24665 SUP 2: 24570

STRATEGY: SELL ON RISE

CS SILVER (SEPTEMBER) OVERVIEW:

TREND : BULLISH

RESIST 2:34365 RESIST 1:34190

SUP1:33715 SUP2:33540

STRATEGY : BUY ON DIPS

CS CRUDE OIL (JULY) OVERVIEW:

TREND :BEARISH

RESIST 2:3210 RESIST 1:3180

SUP1:3100 SUP2:3070

STRATEGY: SELL ON RISE

CS NATURAL GAS (AUGUST) OVERVIEW:

TREND :BEARISH

RESIST 2:187 RESIST 1:184

SUP1: 177 SUP2:175

STRATEGY: SELL ON RISE

BULLION & ENERGY

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CS COPPER (AUGUST ) OVERVIEW:

TREND :BEARISH RESIST 2:345 RESIST 1:342

SUP1:338 SUP2:335

STRATEGY: SELL ON RISE

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BASE METAL

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MCX CRUDE OIL AUG., Thursday as seen in the daily chart opened at 3144 levels and day high

of 3174 levels. During this period price corrected & made day low of 3122 levels finally

closed at 3132 levels. Now, there are chances of further downward movement technically &

fundamentally.

In June, the kingdom produced more than 10.6 million barrels a day, amounting to its highest level on

record. Some analysts predict that Saudi output could exceed 11 million bpd before the end of the

summer.

DAILY RECOMMENDATION: SELL MCX CRUDE OIL AUG., BELOW 3125 LEVELS FOR TARGET

OF T1 3025/T2 2975 WITH SL OF 3235 LEVELS.

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COMMODITY PICK OF THE DAY: CRUDE OIL

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