The document provides an overview of recent trends in commodity markets, highlighting a decline in gold prices influenced by global economic recovery and US monetary policy. Crude oil shows slight gains amidst positive data from China and Europe, though concerns about potential US stimulus cuts loom. The document includes technical outlook and trading strategies for various commodities, along with a disclaimer about the accuracy and reliability of the provided information.

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24-SEP. -2013
DAILY MCX NEWSLETTER

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BULLION
Gold prices continued their southward journey
and were seen trading down amid firm China
data and fresh stimulus concerns. Analysts say
that, the recent decision from US Federal
Reserve to continue with its monetary stimulus
program till the economy backs to its solid
growth path may support gold prices only for
short term. Signs of economic recovery around
the globe was seen pressuring the yellow metal
prices to certain extent in the global market.
Gold futures for December delivery on Globex
platform of Comex was seen trading down by
0.03% at $1326.9 per troy ounce as of 9:37 IST
on Tuesday.
ENERGY
Crude oil futures on NYMEX slightly rose on
Monday amid positive data releases from China
and Europe. However, the commodity was seen
trading under pressure on fresh concerns that
US Federal Reserve may start curbing its
monetary stimulus later this year on improving
economic conditions in the United States. WTI
crude oil futures on NYMEX was seen trading
with a slight gain of 10 cents at $103.46 per
barrel as of 9:43 IST on Tuesday.
Meanwhile, the trend in crude oil futures for
October delivery on India's Multi Commodity
Exchange (MCX) looks sideways to bearish for
the day and intra-day traders are advised to
stay on sell side.
BASE METAL
Copper prices edged down in the
international market and were seen trading
down despite positive data from China. The
base metal is expected to continue with its
negative for the day amid concerns over US
monetary stimulus.
Copper futures for December delivery on
Globex platform of Comex was seen trading
down by 0.06% at $3.227 per pound as of
9:38 IST on Tuesday.

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GOLD (5 OCT.)
SILVER (5 DEC.)
OUTLOOK:
TREND : -CONSOLIDATE
RESISTANCE : - 29990, 31430
SUPPORT : - 29530, 29270
STRATEGY : - BUY ON DIPS
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 49850, 50370
SUPPORT : - 48780, 48400
STRATEGY : - BUY ON DIPSHIGH
BULLION

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CRUDEOIL (21 OCT.)
NATURAL GAS (25 SEP.)
ENERGY
OUTLOOK:
TREND : - BEARISH
RESISTANCE : - 6560, 6645
SUPPORT : - 6450, 6440
STRATEGY : - SELL ON HIGHS
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 228.50, 230.00
SUPPORT : - 225.70, 222.00
STRATEGY : - SELL ON HIGHS

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COPPER (29 NOV.)
LEAD (30 SEP.)
BASE METAL
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : -469.00, 474.00
SUPPORT : - 460.80, 458.50
STRATEGY : - SELL ON HIGHS
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 130.70, 131.70
SUPPORT : - 128.70, 127.50
STRATEGY : - SELL ON HIGHS

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ZINC (30 SEP.)
ALUMINUM (30 SEP.)
NICKEL (30 SEP.)
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 117.70, 118.30
SUPPORT : - 115.60, 114.60
STRATEGY : - SELL ON HIGHS
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 112.20, 113.60
SUPPORT : - 110.55, 109.15
STRATEGY : - SELL ON HIGHS
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 877.00, 890.00
SUPPORT : - 863.00, 855.00
STRATEGY : - SELL ON HIGHS

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GOLD 1326.60
SILVER 21.825
COPPER 03.286
CRUDE OIL 103.45
NATURAL GAS 03.584
PALLADIUM 714.70
PLATINUM 1428.00
USDINR 62.6000
EURUSD 01.3491
USDJPY 98.6800
USDCHF 00.9108
GBPUSD 01.6031
USDCAD 01.0286

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