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MCX Commodity Report 20-November


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Gold prices continued their weakness in the global market and were seen trading almost steady amid weak physical demand, strengthening equity markets. Theequicom provides you daily commodity market updates which can be helpful for your trading.

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MCX Commodity Report 20-November

  2. 2. BULLION Gold prices continued their weakness in the BASE METAL ENERGY Commodity indices continue to post negtive Crude oil prices in the global market remained global market and were seen trading almost returns with agri agri-commodities and weak on Monday and were almost steady as a steady amid weak physical demand, industrial metals more weak than others, result due to weak international cues. Recent strengthening equity markets. Meanwhile, according to a Deutsche Bank weekly comments from US Federal Reserve Chairman India gold futures remained almost steady report. nominee Janet Yellen may have supported the tracking weak global cues and on appreciation The bank pointed out that majority of the commodity prices. of Indian Rupee against US Dollar. commodity prices are trading below their 2 2- A statement from US official that an The trend in gold futures for December delivery year averages with the exception of US understanding to curb Iran's nuclear program on India's Multi Commodity Exchange (MCX) natural gas and palladium, which are is possible later this week, may have put looks sideways to bearish for the day and displaying strength. On the other hand pressure on the prices. Any positive agreement intra-day traders are advised to sell on rise. aluminium and corn are at depressed levels. between the two countries could lift sanctions Holdings at gold exchange-traded products The energy sector remains vulnerable to against Iran and as a result of that, Iranian declined 2 tons to 1,867.5 tons on Monday, the strong non non-OPEC production growth, most crude oil is expected flow into the market. lowest since April 2010, according to the data notably US. The fact that WTI WTI-Brent Crude India crude oil prices edged down on Monday compiled by Bloomberg. spreads are widening indicates that tracking bearish international sentiments. The Meanwhile, the ZEW Indicator of Economic weakness is emerging in US physical commodity is expected to trade negative during Sentiment for Germany has increased by 1.8 markets. intra-day trade amid appreciation of Indian day am points in November 2013. The indicator now "We expect headwinds for precious metals Rupee (INR) against US Dollar (USD). stands at a level of 54.6 points (historical and specifically gold w continue as the will average, 24.1 points), its highest mark since market prepares for the Fed to bring its October 2009. programme of QE tapering from next month. We expect this will resume upward pressure on US real yields and encourage a strengthening of US dollar. +919200009266
  3. 3. BULLION GOLD (5 DEC.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : -CONSOLIDATE CONSOLIDATE : - 30 0500, 30800 : - 30050, 29800 300 : - SELL ON HIGH SILVER (5 DEC.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY +919200009266 : - CONSOLIDATE : - 45850 46350 5850, : - 4500 44700 5000, : - SELL ON HIGH HIGH
  4. 4. ENERGY CRUDEOIL ( DEC.) (18 OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 5840, 5900 : - 5750, 5700 : - SELL ON HIGH NATURAL GAS (2 NOV.) (25 OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY +919200009266 : - CONSOLIDATE : - 227 27.50, 229.50 : - 220 0.00, 217.50 : - BUY ON DIPS
  5. 5. BASE METAL COPPER ( NOV.) (29 OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : -440.00 443.50 0, : - 432.00 427.00 0, : - SELL ON HIGH LEAD ( NOV.) (29 OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY +919200009266 : - CONSOLIDATE : - 131 31.00, 132.00 : - 128 8.00, 127.00 : - SELL ON HIGH
  6. 6. ZINC ( NOV.) (29 OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 117.50, 118.50 , : - 115.50, 114.00 , : - SELL ON HIGH ALUMINUM ( NOV.) (29 OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 111.00, 112.00 1 : - 108.00, 107.00 1 : - SELL ON HIGH NICKEL ( NOV.) (29 OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY +919200009266 : - CONSOLIDATE : - 853.00, 860.00 8 : - 842.00, 834.00 8 : - SELL ON HIGH
  7. 7. GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM 1275.29 20.419 03.169 94.21 03.548 548 722.30 0 1414.60 0 +919200009266 USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD 62.5700 01.3556 99.9999 00.9093 01.6113 01.0466
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