BULLION - Bullion counter may trade on weaker path as gold prices edged lower on Thursday as the U.S. dollar hovered near multi-week highs, while investors awaited clues on monetary policy easing from leading central banks to shore up global economy. ENERGY- Crude oil may trade on weaker path as oil ticked lower early on Thursday as more signs of slowing global growth added to demand concerns, with Middle East tensions underpinning prices. BASE METAL - Base metals may trade on subdued path.

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MCX Daily Report 25TH
JULY 2019
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News Highlights
BULLION - Bullion counter may trade on weaker path as gold prices edged lower on Thursday as
the U.S. dollar hovered near multi-week highs, while investors awaited clues on monetary policy
easing from leading central banks to shore up global economy. Investor focus shifted to the
European Central Bank (ECB) meeting due later in the day and a widely expected interest rate cut
from the U.S. Federal Reserve next week, which are expected to dictate the tempo for currencies
and bond yields in coming months. In the United States, manufacturing activity slowed to a 10-
year low in early July with production volumes and purchases falling. Weak housing and
manufacturing are offsetting strong consumer spending, holding back the economy and posing a
threat to the longest expansion in history. SPDR Gold Trust GLD, the world's largest gold-backed
exchange-traded fund, said its holdings dropped 0.11% to 822.25 tonnes on Wednesday from
823.13 tonnes on Tuesday.
ENERGY- Crude oil may trade on weaker path as oil ticked lower early on Thursday as more signs
of slowing global growth added to demand concerns, with Middle East tensions underpinning
prices. Sentiment in the oil market has darkened as investors worry that slowing global economic
growth will weaken demand for oil. A series of purchasing manager index readings in the United
States and Europe were weaker than expected, confirming concerns about slower economic
growth amid a trade war between the United States and China. Global growth concerns are
driving energy prices lower as forecasts keep getting downgraded even as the U.S. will be sending
a trade team to China next week. Set against those worries are ongoing tensions in the Middle
East following the seizure of a British-flagged tanker in the Gulf by Iranian forces last week.
Britain, meanwhile, gained initial support from France, Italy and Denmark for its plan for a
European-led naval mission to ensure safe shipping in the Gulf. U.S. natural gas futures fell on
Wednesday to their lowest level in over a month on forecasts for cooler weather over the next
two weeks than previously forecast.
BASE METAL - Base metals may trade on subdued path. Top U.S. and Chinese negotiators will
meet face-to-face next week for the first time since Donald Trump and Xi Jinping agreed to revive
talks to end their year-long trade war. Shanghai lead rose on Thursday, tracking a rally in London
prices overnight, following concerns of supply shortages amid some maintenance activities in
China. Three-month lead on the London Metal Exchange (LME) jumped 2.6% on Wednesday, its
strongest gain in more than six weeks, as lead stockpiles in LME-approved warehouses fell to a
fresh decade low of 57,425 tonnes. The difference between the LME cash lead contract over the
three-month lead contract flipped to a premium of $1.5 a tonne on Wednesday, indicating near-
term supply shortage. The shutdown of 1.5 million tonnes-per-year of alumina refining capacity in
China will curb oversupply of the aluminium raw material and see prices currently languishing
near two-year lows reach a bottom.

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MCX Daily Report 25TH
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CS GOLD (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 35200
RESIST 1: 35100
SUP 1: 34900
SUP 2: 34800
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CS SILVER (SEP) OVERVIEW:
TREND : BULLISH
RESIST 2: 42100
RESIST 1: 41900
SUP 1: 41500
SUP 2: 41200
WWW.CAPITALSTARS.COM +919977499927
Base Metals
CS COPPER (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 455.00
RESIST 1: 453.00
SUP 1: 450.00
SUP 2: 448.00
WWW.CAPITALSTARS.COM +919977499927
CS NICKEL (JUL) OVERVIEW:
TREND : BEARISH
RESIST 2: 1040.00
RESIST 1: 1030.00
SUP 1: 995.00
SUP 2: 975.00
WWW.CAPITALSTARS.COM +919977499927
CS ZINC (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 197.00
RESIST 1: 195.00
SUP 1: 192.00
SUP 2: 188.00
WWW.CAPITALSTARS.COM +919977499927
CS LEAD (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 160.00
RESIST 1: 159.00
SUP 1: 156.00
SUP 2: 154.00
WWW.CAPITALSTARS.COM +919977499927
CS ALUMINIUM (JUL) 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: 4040
RESIST 1:3970
SUP 1: 3870
SUP 2: 3820
WWW.CAPITALSTARS.COM +919977499927
CS NATURAL GAS (JUL) OVERVIEW:
TREND : BEARISH
RESIST 2: 161.00
RESIST 1: 157.00
SUP 1: 152.00
SUP 2: 150.00
WWW.CAPITALSTARS.COM +919977499927
Precious Metals

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SEBI Registration Number: INA000001647
MCX Daily Report 25TH
JULY 2019
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Pick for the DAY
MCX NATURAL GAS JUL on WEDNESDAY as seen in the Daily chart opened at 158.60 levels
and made day low of 153.10 Levels. During this period NATURAL GAS JUL High is 158.80
levels and finally closed at 153.60 levels. Now, there are chances of down movement
technically & fundamentally.
DAILY RECOMMENDATION: SELL MCX NATURAL GAS JUL BELOW 153.60 LEVELS FOR
TARGET OF 152.60/151.60 WITH SL 154.60 OF LEVELS.

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SEBI Registration Number: INA000001647
MCX Daily Report 25TH
JULY 2019
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