- Gold prices edged lower globally and continued their bearish trend as traders awaited news on the US Federal Reserve tapering monetary stimulus. Gold futures on the MCX were slightly positive but may decline with global trends. - Most commodities indexes have declined recently except for energy and precious metals. Energy commodities like WTI are performing well above average. - MCX copper, nickel, and lead futures continued their downward movement amid weak international cues and the strengthening of the Indian rupee against the US dollar. Intra-day traders are advised to sell on highs.

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18-SEP. -2013
DAILY MCX NEWSLETTER

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BULLION
Gold prices in the global market, edged lower
and continued its bearish rally which started
last week and was seen trading near five week
low as traders were seen awaiting to know
whether US Central Bank start tapering its
monetary stimulus later this year.
Gold futures on India's Multi Commodity
Exchange (MCX) was seen trading slightly
positive and may record a decline during intra-
day trade tracking a bearish trend in the
global market.
The Federal Open Market Committee (FOMC) is
scheduled to start a two day meet on Tuesday
and is expected that the US Central Bank start
curbing its $85 billion monthly bond
purchasing program. Equities and bonds
recorded an up-tick on Monday and theUS
dollar witnessed a fall.
ENERGY
The majority of commodity index returns have
suffered losses over the past week and since the
end of last year. However, index gains during
the third quarter-to-date have been most
notable in the energy and precious metals
sectors.
Most commodities are trading below the mean
of the two year range, with the exception of the
energy sector, palladium and soybeans. WTI is
above the 95th percentile of the range and the
best performer among the commodities under
investigation. Only corn is below the 5th
percentile, although gold, aluminium and
copper are near that level, according to
Deutsche Bank weekly report.
BASE METAL
MCX copper, nickel and lead futures
continued their downward movement on
Tuesday and was seen trading bearish amid
weak international cues and appreciation of
Indian Rupee (INR) against US Dollar (USD).
The trend in copper futures for November
delivery on India's Multi Commodity
Exchange (MCX) looks bearish for the day
and intra-day traders are advised to stay on
sell side.
MCX lead for September delivery looks
bearish and is expected to continue with the
trend.

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GOLD (5 OCT.)
SILVER (5 DEC.)
OUTLOOK:
TREND : -CONSOLIDATE
RESISTANCE : - 29930, 30270
SUPPORT : - 29400, 29000
STRATEGY : - SELL ON HIGHS
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 49900, 50420
SUPPORT : - 48860, 48000
STRATEGY : - SELL ON HIGHS
BULLION

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CRUDEOIL (21 OCT.)
NATURAL GAS (25 SEP.)
ENERGY
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 6710, 6770
SUPPORT : - 6600, 6550
STRATEGY : - SELL ON HIGHS
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 240.50, 244.00
SUPPORT : - 232.50, 228.00
STRATEGY : - BUY ON DIPS

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COPPER (29 NOV.)
LEAD (30 SEP.)
BASE METAL
OUTLOOK:
TREND : - BERAISH
RESISTANCE : -460.00, 465.00
SUPPORT : - 455.00, 451.00
STRATEGY : - SELL ON HIGHS
OUTLOOK:
TREND : - BERAISH
RESISTANCE : - 129.10, 130.00
SUPPORT : - 127.90, 127.00
STRATEGY : - SELL ON HIGHS

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ZINC (30 SEP.)
ALUMINUM (30 SEP.)
NICKEL (30 SEP.)
OUTLOOK:
TREND : - BERAISH
RESISTANCE : - 116.70, 117.50
SUPPORT : - 115.60, 115.00
STRATEGY : - SELL ON HIGHS
OUTLOOK:
TREND : - BERAISH
RESISTANCE : - 110.90, 111.60
SUPPORT : - 109.80, 109.00
STRATEGY : - SELL ON HIGHS
OUTLOOK:
TREND : - BERAISH
RESISTANCE : - 880.00, 900.00
SUPPORT : - 860.00, 850.00
STRATEGY : - SELL ON HIGHS

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GOLD 1297.35
SILVER 21.435
COPPER 03.221
CRUDE OIL 105.64
NATURAL GAS 03.745
PALLADIUM 696.70
PLATINUM 1416.05
USDINR 63.3000
EURUSD 01.3348
USDJPY 94.3000
USDCHF 00.9267
GBPUSD 01.5894
USDCAD 01.0302

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