Gold prices rebounded on sustained local and global demand while silver weakened further due to speculative selling. Standard gold rose by Rs 145 to Rs 26,795 per 10 gm while pure gold rose by Rs 135 to Rs 26,925 per 10 gm. MCX crude oil looks sideways to bullish and traders are advised to take buy positions, while MCX copper may trade volatile and traders should sell on rises.

1. 22 JULY – 27 JULY 2013
W E E K L Y
R
E
P
O
R
T
Blow by Blow
On
Bullions,
Base metals,
Energy…
WWW.TRIFIDRESEARCH.COM

2. MAJOR EVENTS
Gold prices rebounded at the bullion market here today on sustained demand from
stockiest and traders coupled with good local buying interest supported by higher
global cues.
Silver remained bearish and weakened further owing to speculative sell-off.
Standard gold of 99.5 per cent purity rose by Rs 145 to close at Rs 26,795 per 10 gm
from Thursday's closing level of Rs 26,650.
Pure gold of 99.9 per cent purity shot up by Rs 135 to finish at Rs 26,925 per 10 gm
from Rs 26,790. However, silver ready (.999 fineness) fell by Rs 50 to end at Rs 40,940
per kg as compared to Rs 40,990 previously.
In overseas market, gold moved up further on lower dollar and last week's US Federal
Reserve assurances about its stimulus measures.
In London, spot gold bid higher at USD 1,286.35 an ounce in early trade, while silver
was unchanged at USD 19.33 an ounce.
The trend in crude oil futures for July delivery on India's Multi Commodity Exchange
(MCX) looks sideways to bullish for the day and traders are advised to take buy
position.
Brent crude oil prices hit above $109 per barrel on Friday after encouraging data
releases from the United States and higher than expected fall in US crude oil stock-
piles. Also, recent comments from US Federal Reserve Chairman Ben Bernanke were
seen supporting the commodity movement to certain extent.
Carl Larry, crude oil expert and founder of Oil Outlooks based on technical and
fundamental analysis stated that WTI crude oil prices may touch 112.25 levels in the
near term. Manufacturing firms responding to the Federal Reserve Bank of
Philadelphia’s Business Outlook Survey reported increased business activity. The
survey’s index of current activity increased to 19.8 in July from 12.5 in June. In the
special questions, firms were asked about the effect of the Affordable Care Act on
their health insurance plans and workforce.
MCX Crude Oil
sideways to
bullish on strong
global cues;
NYMEX Crude
Oil positive.
MCX Copper may
trade volatile;
Comex Copper
neutral.
The trend in copper futures for August delivery on India's Multi Commodity Exchange
(MCX) is expected trade volatile for the day and traders are advised to sell on rise.
Meanwhile, copper futures for September delivery Globex platform of Comex is seen
trading neutral and is expected to trade neutral.
Copper futures for September delivery on Globex division of Comex market was seen
trading down by 0.44% at $3.118 per pound as of 02.28 PM IST on Friday.
Fall in US jobless claims, recent comments from US Federal Reserve Chairman Ben
Bernanke and a rise in the Federal Reserve Bank of Philadelphia’s Manufacturing data
were limited further fall in the base metal in both domestic and global markets.
Orders to withdraw copper stocks from London Metal Exchange (LME) accredited
warehouses increased 1,325 tons to 336,600 tons, when compared to the total
stockpiles of 640,600 tons, according to the Exchange data. Higher copper supply, less
than expected economic growth around the globe have been pressuring the base
metal price movement in the global market to certain extent.
Gold rebounds
on firm demand,
silver slips
further.

3. E C O N O M I C C A L E N D E R
DATE & TIME DESCRIPTION FORECAST PREVIOUS
Jul 22, 7:30pm Existing Home Sales 5.27M 5.18M
Jul 23, 6:30pm HPI m/m 0.9% 0.7%
7:30pm Richmond Manufacturing Index 7 8
Jul 24, 6:30pm Flash Manufacturing PMI 52.5 51.9
7:30pm New Home Sales 482K 476K
8:00pm Crude Oil Inventories -6.9M
Jul 25, 6:00pm Core Durable Goods Orders m/m 0.5% 0.5%
6:00pm Unemployment Claims 339K 334K
6:00pm Durable Goods Orders m/m 1.1% 3.7%
8:00pm Natural Gas Storage 58B
Jul 26, 7:25pm Revised UoM Consumer Sentiment 84.0 83.9
7:25pm Revised UoM Inflation Expectations 3.3%
http://www.trifidresearch.com

4. S1 S2 S3 R1 R2 R3
26240 25700 25000 26925 27565 28300
S1 S2 S3 R1 R2 R3
39900 38500 37000 41600 43020 44500
T E C H N I C A L V I E W
MCX GOLD showed sideways
movements and consolidated around
61.8% retracement but unable to close
above it. Now if it is able to sustain
above 27000 then next resistance is
seen around 27500. On lower side 50%
retracement i.e. 26400 will act as
immediate support for it, below this it
may drag towards the next support
level of 26000.
S T R A T E G Y
Better strategy in MCX GOLD is to buy
above 27000 for the target of 27500-
28000 with stop loss of 26200.
PIVOT TABLE
G O L D
PIVOT TABLE
S I L V E R
T E C H N I C A L V I E W
MCX SILVER showed downward
movement on daily charts, broke
triangle pattern and took important
support of 39900. Now, if it gives
closing below 39900 and able to sustain
below this then it may find support
around trend line on daily charts i.e.
37500. On higher side 41500 is
immediate resistance for it above this it
may find vital resistance near 43500.
S T R A T E G Y
Better strategy in MCX SILVER at this
point of time is to sell below 39900 for
targets of 38500, with stop loss of 42000.

5. C R U D E O I L
C O P P E R
http://www.trifidresearch.com
S1 S2 S3 R1 R2 R3
6225 6065 5875 6500 6700 6900
S1 S2 S3 R1 R2 R3
411 401.50 393 421 430 438.50
T E C H N I C A L V I E W
MCX Copper last week showed
sideways to bearish movement and
form triangle pattern on daily charts.
Now, if it able to give closing below
411 then only bearishness is expected
towards the next support level of 404.
On other hand above 418 breakout of
triangle pattern on higher side is
expected and above this it may lead
towards the next strong resistance
level of 427.
S T R A T E G Y
Better strategy in MCX CRUDEOIL is to buy
on dips for the targets of 6600-6700 with
stop loss of 6150.
PIVOT TABLE
T E C H N I C A L V I E W
Crude oil showed upward movement
on daily charts, broke pennant pattern
and also gave closing above it. Now, if
it is able to sustain above 6500 then it
may find resistance around 6700. On
lower side correction is expected only
if it holds below 6250 where 6150 will
act as major support.
S T R A T E G Y
Better strategy in MCX COPPER will be
buy above 418, with stop loss of 410 for
the targets of 426-430.
PIVOT TABLE

6. http://www.trifidresearch.com
DISCLAIMER