BULLION - Bullion counter may trade on negative path as gold prices slipped to a two-week low on Thursday after the U.S. Federal Reserve delivered a 25-basis-point rate cut as expected but ruled out a lengthy easing cycle, sending ENERGY- Crude oil may trade on negative path as oil prices fell more than $1 on Thursday, declining for the first time in six days, after the U.S. Federal Reserve dampened hopes for a string of rate cuts and Sino-U.S. trade talks ended without progress. BASE METAL - Base metals may trade on sideways to weaker path. Pressure on China's factories eased a little in July due to growth-boosting steps from the government, but overall manufacturing activity remained in contraction, a private survey showed on Thursday

1. CapitalStars Financial Research Pvt., Ltd.,
SEBI Registration Number: INA000001647
MCX Daily Report 01ST
AUGUST 2019
1
News Highlights
BULLION - Bullion counter may trade on negative path as gold prices slipped to a two-week low on
Thursday after the U.S. Federal Reserve delivered a 25-basis-point rate cut as expected but ruled out
a lengthy easing cycle, sending the dollar to a two-year peak. Policymakers moved the U.S. central
bank's benchmark overnight lending rate to a target range of 2.00% to 2.25%, citing concerns about
the global economy and muted U.S. inflation. However, Fed Chair Jerome Powell, speaking in a news
conference after the release of the central bank's statement, characterized Wednesday's rate cut as
"a mid-cycle adjustment to policy", a sign to markets that further sharp cuts were not imminent. U.S.
Treasuries reacted to Powell's remarks by flattening the yield curve as the front-end of the market
scaled back on prior expectations for at least a 100 basis points of easing in the near-term. U.S. and
Chinese negotiators ended a brief round of trade talks on Wednesday with little sign of progress and
agreed to meet again in September, prolonging an uneasy truce in a year-long trade war between the
world's two largest economies. The U.S. Mint sold 5,500 ounces of American Eagle gold coins in July,
up 10% from the previous month, according to the latest data.
ENERGY- Crude oil may trade on negative path as oil prices fell more than $1 on Thursday, declining
for the first time in six days, after the U.S. Federal Reserve dampened hopes for a string of rate cuts
and Sino-U.S. trade talks ended without progress. The drop came despite a bigger-than-expected
decline in inventories in the U.S. and a drop in crude production among OPEC members, along with
Libya cutting exports, typically bullish drivers for the market. Meanwhile, U.S. crude oil stockpiles fell
for the seventh straight week, declining to their lowest levels since November even as production
rebounded and net imports increased, the Energy Information Administration said on Wednesday.
Crude inventories fell 8.5 million barrels in the week ended July 26, far exceeding analysts’
expectations for a decrease of 2.6 million barrels. Libya’s state-owned National Oil Corp declared
force majeure on loadings of crude from the country’s largest oil field on Wednesday. U.S. natural gas
futures rose 4.5% on Wednesday, recovering from a three-year low touched the previous day as
investors covered short positions..
BASE METAL - Base metals may trade on sideways to weaker path. Pressure on China's factories
eased a little in July due to growth-boosting steps from the government, but overall manufacturing
activity remained in contraction, a private survey showed on Thursday. London copper prices slipped
to a three-week low on Thursday after Federal Reserve Chairman Jerome Powell said the U.S. central
bank's first rate cut since 2008 was not the start of a long easing cycle, while Sino-U.S. trade talks
appeared to have made little progress. U.S. and Chinese negotiators ended a round of trade talks with
little sign of progress and agreed to meet again in September, prolonging an uneasy truce in a year-
long trade war between the world's top two economies. A Chinese billionaire has been indicted by a
grand jury on charges he schemed with the aluminum company he founded to evade $1.8 billion of
tariffs by smuggling huge amounts of the metal into the United States, federal prosecutors said on
Wednesday.

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SEBI Registration Number: INA000001647
MCX Daily Report 01ST
AUGUST 2019
2
CS GOLD (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 35600
RESIST 1: 35400
SUP 1: 35000
SUP 2: 34700
WWW.CAPITALSTARS.COM +919977499927
CS SILVER (SEP) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 41400
RESIST 1: 41100
SUP 1: 40700
SUP 2: 40500
WWW.CAPITALSTARS.COM +919977499927
Base Metals
CS COPPER (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 451.00
RESIST 1: 447.00
SUP 1: 440.00
SUP 2: 436.00
WWW.CAPITALSTARS.COM +919977499927
CS NICKEL (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 1030.00
RESIST 1: 1015.00
SUP 1: 990.00
SUP 2: 980.00
WWW.CAPITALSTARS.COM +919977499927
CS ZINC (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 194.00
RESIST 1: 193.00
SUP 1: 191.00
SUP 2: 190.00
WWW.CAPITALSTARS.COM +919977499927
CS LEAD (AUG) OVERVIEW:
TREND : BEARISH
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: 143.00
RESIST 1: 142.00
SUP 1: 140.00
SUP 2: 139.00
WWW.CAPITALSTARS.COM +919977499927
Energy
CS CRUDE OIL (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 4100
RESIST 1:4050
SUP 1: 3960
SUP 2: 3900
WWW.CAPITALSTARS.COM +919977499927
CS NATURAL GAS (JUL) OVERVIEW:
TREND : BEARISH
RESIST 2: 159.00
RESIST 1: 157.00
SUP 1: 154.00
SUP 2: 152.00
WWW.CAPITALSTARS.COM +919977499927
Precious Metals

3. CapitalStars Financial Research Pvt., Ltd.,
SEBI Registration Number: INA000001647
MCX Daily Report 01ST
AUGUST 2019
3
Pick for the DAY
MCX COPPER AUG on WEDNESDAY as seen in the Daily chart opened at 449.45 levels and
made day low of 435.40 Levels. During this period COPPER AUG High is 449.75 levels and
finally closed at 436.95 levels. Now, there are chances of down movement technically &
fundamentally.
DAILY RECOMMENDATION: SELL MCX COPPER AUG BELOW 443.50 LEVELS FOR
TARGET OF 441.50/439.50 WITH SL 445.50 OF LEVELS.

4. CapitalStars Financial Research Pvt., Ltd.,
SEBI Registration Number: INA000001647
MCX Daily Report 01ST
AUGUST 2019
4
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