Commodity Report By TradeIndia Research.We Provides Trading Tips And SEBI Ragistered

1. 31/08/2017
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2. 31/08/2017
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Crude oil futures extend decline despite draw in inventory:
Crude oil futures continued the weakness on
Wednesday, as flooding from Tropical Storm Harvey
continued to batter US refinery capacity, offsetting
data showing U.S. supplies of crude oil fell for a
ninth-straight week. Refinery operations along the
Texas coast may be interrupted for weeks, limiting
the demand for crude oil. Meanwhile, the US
Department of Energy reported a bullish 5.4 million
barrel draw in crude inventories over the past week.
It was the ninth-straight week of falling crude
inventories. Gasoline inventories, rose by roughly
35,000 barrels, while distillate stockpiles rose by
748,000 barrels, confounding expectations of a
decline of 846,000 barrels.
Copper futures end lower as
dollar gains:
Copper futures ended lower from a multi-year high
after positive US GDP data enlivened the dollar,
placing pressure on the entire base metals complex.
Reports showing that the Gross domestic product, a
broad measure of the goods and services produced
across the US, rose at a seasonally and inflation-
adjusted annual rate of 3% in the second quarter.
Gold futures end lower on Wednesday:
Gold futures ended lower on Wednesday as the
dollar strengthened against a basket of major
currencies. Yellow metal prices further declined as
ADP employment data for August estimated
private-sector payrolls rose by 237,000 compared
a consensus estimates of 185,000. Meanwhile, the
Commerce Department raised its estimate of
second-quarter GDP growth to an annual rate of
3% from 2.6% previously, beating economists’
forecasts of 2.8%.

3. 31/08/2017
301, 3rd
Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
TECHNICAL ANALYST
OUTLOOK:
TREND: - UP
RESISTANCE: - 29550, 29650.
SUPPORT: - 29350, 29250.
STRATEGY: - SELL ON HIGH.
GOLD
TECHNICAL OUTLOOK
Gold extended a drop from its 11 month high yesterday on strong US economic data and soaring values of virtual
currencies like the Bitcoin. COMEX Gold futures are trading at $1308 per ounce, down 0.46% on the day. MCX Gold
futures hit highs above Rs 29930 per 10 grams earlier this week before easing and ended around Rs 29530 per 10
grams, down 0.43% on the day.

4. 31/08/2017
301, 3rd
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SILVER
OUTLOOK:
TREND: - UP
RESISTANCE: - 39750, 39950.
SUPPORT: - 39250, 39050.
STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK
The Prices of silver were down on Wednesday. And at end of the day the prices were settled at 39721 per 30
kilogram. On the higher side Rs 39830 per 30 kilogram as resistances were noted while lows were at Rs 39455 per
30 kilograms as support noted. The metals remain under a volatile zone.

5. 31/08/2017
301, 3rd
Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
COPPER
OUTLOOK:
TREND: - UP
RESISTANCE: - 435.50,438.
SUPPORT: -430.50, 428.
STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK
Copper eased after hitting near three year high. The metal has been boosted on sustained weakness in US dollar and
supportive equities. COMEX Copper is currently trading flat at $3.10 per pound. MCX Copper futures ended down
0.30% at Rs 432.65 per kg. Copper output is falling this year, keeping the overall scenario positive for the prices.
International Copper Study Group (ICSG) mentioned in a latest update that world copper mine production is
estimated to have declined 3% in the first five months of 2017. World refined copper balance for the first five months
of 2017 indicates a surplus of around 15000 tonnes. The decline in world mine production was mainly due to: A 10%
(220,000 t Cu) decline in production in Chile, the world's biggest copper mine producing country, negatively affected
by the strike at Escondida mine and lower output from Codelco mines. A decline in Canada and Mongolia
concentrates production of 20% and 21%, respectively, mainly due to lower grades in planned mining sequencing.

6. 31/08/2017
301, 3rd
Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
CRUDE OIL
OUTLOOK:
TREND: - DOWN
RESISTANCE: - 2980, 3010.
SUPPORT: - 2920, 2890.
STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK
WTI Crude oil future extended their drop despite continued slide in US crude inventories as selling pressure stayed
strong on weak charts and flat equities. The US Energy Information Administration said in its weekly report that
crude oil inventories fell by 5.392 million barrels in the week ended August 25,while distillate stockpiles also rose by
0.748 million barrels, compared to forecasts for a decline of 0.846 million. WTI Crude is currently trading just under
$46 per barrel and should provide mostly bearish cues for the MCX Crude futures today. The local futures closed
around Rs 2960 per barrel, down marginally on the day after hitting a high near Rs 3000 per barrel.

7. 31/08/2017
301, 3rd
Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
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