2. CapitalStars Financial Research Pvt.Ltd.,
BULLIONS WEEKLY REPORT 20 – 25 AUG 2018
Gold News & Analysis:
Spot gold XAU= added 0.31 percent to $1,177.21 ounce by 1:35 p.m. EDT (1735 GMT), but was down 2.7 percent this
week in its sixth consecutive weekly loss. On Thursday, it touched $1,159.96, the lowest since January 2017Most of the
consumer demand is for light-weight variety, and investment demand for gold is sluggish due to rising interest rates,
tighter credit norms, among other factors. Fall in rupee exchange rate has helped arrest impact of a sharp correction in
the international prices of gold, which are down nine per cent in the current calendar year, even as the price of domestic
standard gold has remained more or less stagnant. Investment demand is shrinking with rising interest rates in India and
money moving to official channels. Gold recovered some ground on Friday as a weakening U.S. dollar relieved pressure on
prices, but the precious metal remained near 19-month lows and looked poised for its biggest weekly drop since May
2017.
Gold MCX Technical View:
Gold COMEX Technical View:
SCRIPT TREND STRATEGY R2 R1 PP S1 S2
GOLD AUG BEARISH SELL ON RISE 30128 29739 29503 29114 28878
SCRIPT TREND STRATEGY R2 R1 PP S1 S2
GOLD BEARISH SELL ON RISE 1233 1209 1184 1159 1135
3. CapitalStars Financial Research Pvt.Ltd.,
BULLIONS WEEKLY REPORT 20 – 25 AUG 2018
Silver News & Analysis:
Despite the slowdown in jobs growth the employment report supported expectations for two more rate hikes from the Federal
Reserve this year.
The Fed kept interest rates on hold on Wednesday but said the U.S. economy was strong, indicating that it is on track to deliver
expected rate hikes in September and December. Expectations for higher rates tend to be bearish for bullion, which struggles
to compete with yield-bearing assets when rates rise, while a stronger U.S. currency makes silver and other dollar-
denominated commodities more expensive for foreign investors. Elsewhere in precious metals trading, silver settled up 0.26%
at $15.425 a troy ounce, for a weekly loss of 0.19%.
Silver MCX Technical View:
Silver COMEX Technical View:
Crude Oil News & Analysis:
Crude oil markets very shaky for the week. Crude oil markets were very shaky during the week, going back and forth, but
recovering quite nicely on Thursday and Friday. Because of this, they may have saved themselves as the volatility seems to be
picking up. The WTI Crude Oil market broke down rather significantly during the week but bounced enough from just below the
$65 level to save itself from completely slicing through the uptrend line on the close. Brent markets were very noisy during the
week as well, breaking down towards the $71 level before finding buyers. By doing so, they formed a somewhat supportive
SCRIPT TREND STRATEGY R2 R1 PP S1 S2
SILVER SEP BEARISH SELL ON RISE 38856 37817 37120 36081 35384
SCRIPT TREND STRATEGY R2 R1 PP S1 S2
SILVER BERAISH SELL ON RISE 15.78 15.29 14.79 14.30 13.80
4. CapitalStars Financial Research Pvt.Ltd.,
BULLIONS WEEKLY REPORT 20 – 25 AUG 2018
candle, as we are starting to test significant support. I think that the market could rally from here but we need a reprieve with
US dollar strength.
Crude Oil Technical View:
Natural Gas News & Analysis:
Natural gas markets initially sold off during the week but turned around of form a bit of a hammer. The hammer is
pressing up against the $3.00 level, an area that has been important more than once. It is because of this that I think we
may have a little bit further to go to the upside. However, there are a couple of potential signals here. NG initially fell
during the week but found enough resiliencies, especially on Friday to turn around of form a bit of a hammer. We said just
below the $3.00 level, an area that is not only psychologically important but structurally important as well. If we can clear
that level, we could go as high as $3.10 before finding the next major resistance barrier.
Natural Gas Technical View:
SCRIPT TREND STRATEGY R2 R1 PP S1 S2
CRUDE AUG SIDEWAYS SELL ON RISE 4893.3 4745.7 4635.3 4487.7 4377.3
SCRIPT TREND STRATEGY R2 R1 PP S1 S2
N.GAS AUG BULLISH BUY ON DIPS 211.6 209.1 205.9 203.4 200.2
5. CapitalStars Financial Research Pvt.Ltd.,
BULLIONS WEEKLY REPORT 20 – 25 AUG 2018
Copper News & Analysis:
Large precious metals speculators lowered their bullish net positions in the Copper futures markets this week, according
to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on
Friday. The copper speculative position declined for a second straight week and for the seventh time out of the past eight
weeks. The overall net position is at the lowest standing since October 25th of 2016 when positions were at -13,754
contracts. Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Copper Futures (Front Month)
closed at approximately $275.2 which was a drop of $-7.95 from the previous close of $283.15, according to unofficial
market data.
Among base metals, copper ended at $2.745, down 0.74% for the day, extending its weekly loss to 0.76%.
Copper Technical View:
SCRIPT TREND STRATEGY R2 R1 PP S1 S2
COPPER AUG BEARISH SELL ON RISE 435.7 421.95 412.25 398.5 388.8
Week Ahead: SELL GOLD AUG AROUND 29620 TG 29350/291500 SL 29980
Direction Hinges Upon Escalation of Trade Dispute, Fed Chair Powell’s
Testimony.
This week, investors will continue to focus on demand for the U.S. Dollar and risky assets.
Additionally, the U.S. economic data’s influence on Treasury yields and the chances of additional
rate hikes from the Fed will be another catalyst driving the price action in gold. At this week’s
Congressional testimony on Tuesday and Wednesday, there is no doubt that Powell will be
discussing the direction of interest rates, strengthening inflation and the potential impact of a
trade war on U.S. economic growth.
Gold futures tumbled last week after early strength failed to draw in enough buyers to continue
the technical retracement that began the week-ending July 6. By the end of the week, sellers had
driven prices through the bottom at $1238.80 that started the short-covering rally.
6. CapitalStars Financial Research Pvt.Ltd.,
BULLIONS WEEKLY REPORT 20 – 25 AUG 2018
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