- Gold (Oct) can test 35020 while taking resistance near 35510 and silver (Sep) can dip lower towards 40500 and resistance near 41300.

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MCX Daily Report 05TH
AUGUST 2019
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News Highlights
BULLION - Gold (Oct) can test 35020 while taking resistance near 35510 and silver (Sep) can dip lower
towards 40500 and resistance near 41300. The price of gold shot up from about 34040 to around
35630 as investor flocked into gold as yields plummeted following the increase in tariffs between the
US and China. Trump said he would impose an additional 10% tariff on $300 billion worth of Chinese
imports on Sept. 1 after U.S. negotiators returned from trade talks in Shanghai, saying China had
failed to buy large quantities of U.S. agricultural products as promised. Trump also said if trade
negotiations fail to progress he could raise tariffs further - even beyond the 25% levy he has already
imposed on $250 billion of imports from China. The tariffs may also force the Federal Reserve to again
cut interest rates to protect the U.S. economy from trade-policy risk. The October Fed funds rate
futures FFV9 have jumped to now fully price in a rate cut in September, compared with only around
60% before the tariff announcement. Another 25 basis point move is priced in by December.
ENERGY- Crude oil may move towards 3650 while taking resistance near 3820. steadying after an
overnight plunge following U.S. President Donald Trump’s move to impose more tariffs on Chinese
imports, intensifying a trade war that has hit global growth. Brent crude slumped more than 7% on
Thursday, its steepest drop in more than three years. U.S. crude fell nearly 8%, posting its worst day
in more than four years, The collapse ended a fragile rally built on steady drawdown’s in U.S.
inventories, even as global demand looked shaky due to the trade dispute between the world’s two
biggest economies. Total U.S. oil demand in May fell 98,000 bpd to 20.26 million bpd, data showed
earlier this week. OPEC and partners including Russia, an alliance known as OPEC+, have been curbing
output this year to support the market. In July, OPEC production revisited a 2011 low, helped by a
further cut by Saudi Arabia. Natural gas can recover towards 158 while taking support near 149.
Despite the rally on Wednesday, the hotter trends in the overnight data are still not hot enough to
impress and suggests there is still a bearish bias in the market. The rally we say yesterday was
probably driven by short-covering due to the slight change in the weather pattern and grossly
oversold technical indicators.
BASE METAL - Copper may test 436 while taking resistance near 445. Copper hitting its lowest in over
three weeks after U.S. President Donald Trump said he would slap a 10% tariff on the remaining $300
billion of Chinese imports from next month. The reactivation of a smelter belonging to Chile’s state-
run Codelco, the world’s top copper producer, will be further delayed until the end of October this
year after missing a previous target of April. Copper contract on the Shanghai Futures Exchange
dipped 0.6%, aluminium eased 0.2%. Three-month LME copper touched its lowest since July 10 at
$5,876 a tonne before paring losses to $5,899, a decline of 0.5%.Zinc and lead dropped 0.8% each.
However, nickel rose 1.2% and tin was almost unchanged. Zinc can test 187 while taking resistance
near 192. Lead may test 149 while taking resistance near 154. Nickel may rise towards 1040 while
taking support near 990. company PT Aneka Tam bang’s nickel ore output in Jan-Jun rose 27% on year
to 4.79 mln tn. Aluminum may test 135 while taking resistance near 140.

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MCX Daily Report 05TH
AUGUST 2019
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CS GOLD (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2: 37200
RESIST 1: 37000
SUP 1: 36700
SUP 2: 36600
WWW.CAPITALSTARS.COM +919977499927
CS SILVER (SEP) OVERVIEW:
TREND : BULLISH
RESIST 2: 42700
RESIST 1: 42500
SUP 1: 42200
SUP 2: 42100
WWW.CAPITALSTARS.COM +919977499927
Base Metals
CS COPPER (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 442.00
RESIST 1: 440.00
SUP 1: 432.00
SUP 2: 430.00
WWW.CAPITALSTARS.COM +919977499927
CS NICKEL (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 1070.00
RESIST 1: 1060.00
SUP 1: 1040.00
SUP 2: 1030.00
WWW.CAPITALSTARS.COM +919977499927
CS ZINC (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 192.00
RESIST 1: 191.00
SUP 1: 188.00
SUP 2: 187.00
WWW.CAPITALSTARS.COM +919977499927
CS LEAD (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 155.00
RESIST 1: 154.00
SUP 1: 151.00
SUP 2: 150.00
WWW.CAPITALSTARS.COM +919977499927
CS ALUMINIUM (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 142.00
RESIST 1: 141.00
SUP 1: 139.00
SUP 2: 138.00
WWW.CAPITALSTARS.COM +919977499927
Energy
CS CRUDE OIL (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 4000
RESIST 1:3950
SUP 1: 3800
SUP 2: 3750
WWW.CAPITALSTARS.COM +919977499927
CS NATURAL GAS (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 151.00
RESIST 1: 150.00
SUP 1: 146.00
SUP 2: 145.00
WWW.CAPITALSTARS.COM +919977499927
Precious Metals

3. CapitalStars Financial Research Pvt., Ltd.,
SEBI Registration Number: INA000001647
MCX Daily Report 05TH
AUGUST 2019
3
Pick for the DAY
MCX GOLD OCT on FRIDAY as seen in the Daily chart opened at 35790.00 levels and made
day low of 35729.00 Levels. During this period GOLD OCT High is 36327.00 levels and finally
closed at 35633.00 levels. Now, there are chances of up movement technically &
fundamentally.
DAILY RECOMMENDATION: BUY MCX GOLD OCT ABOVE 36800 LEVELS FOR TARGET
OF 37000/37200 WITH SL 36600 OF LEVELS.

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SEBI Registration Number: INA000001647
MCX Daily Report 05TH
AUGUST 2019
4
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