Spot gold prices traded higher due to pressure on markets from tensions between Russia/Ukraine and Palestine/Israel, boosting safe haven demand. NYMEX crude oil prices traded flat amid speculation that Russian supplies will be unaffected by the downing of flight MH17. LME copper prices declined on signs of weak Chinese demand and gains in copper inventories. The newsletter provides analysis and trading strategies for various commodities, including gold, silver, crude oil, natural gas, copper, and others.

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23- JULY-2014
DAILY MCX NEWSLETTER
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09200009266

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BULLION:
Spot gold prices traded higher by 0.3 percent today as Russian President Vladimir Putin is facing
intensified international pressure after pro-Russian rebels were blamed for downing a passenger
jet, thereby adding to pressure on the markets and boosting safe haven demand for the yellow
metal. Also, ongoing tension between Palestinian and Israeli soldiers in Gaza coupled with positive
trend in SPDR holdings is adding to upside in prices. On the MCX, gold prices are trading higher by
0.4 percent at Rs.28096/10 gms.
ENERGY:
NYMEX crude oil prices traded on a flat note today amid speculation that supplies from Russia, the
world’s biggest energy exporter, will be unaffected by the downing of a Malaysian Air flight. Also,
net-long positions on WTI shrank by 45,107 to 259,259 futures and options, the lowest level since
the week ended Jan. 21 acted as a negative factor. However, robust demand as can be seen in
China's crude oil imports from Iran that expanded 38 percent in June from a year ago restricted
prices from falling. On the MCX, crude prices are trading on a flat note.
BASE METAL:
LME Copper prices declined marginally on the back of signs of weak demand after China's
imports of refined copper stood at 255,041 tonnes in June, down 8.16 percent from a year
ago. Also, concerns related to China’s property sector along with 0.2 percent gain in
inventories are exerting downside pressure on prices. On the MCX, copper prices are trading
lower by 0.1 percent and touched a low of Rs.424.85/kg till 4:00pm IST.

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GOLD (5 AUG.)
SILVER (5 SEP.)
BULLION
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 45300, 45600
SUPPORT : - 44800, 44500
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 28100, 28300
SUPPORT : - 27700, 27500
STRATEGY : - SELL ON HIGH

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CRUDEOIL (19 AUG.)
NATURAL GAS (28 JULY)
ENERGY
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 235.00, 240.00
SUPPORT : - 225.00, 220.00
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 6220, 6260
SUPPORT : - 6120, 6070
STRATEGY : - BUY ON DIPS

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COPPER (29 AUG.)
LEAD (31 JULY)
BASE METAL
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 133.50, 134.50
SUPPORT : - 131.50, 130.50
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 432.00, 435.00
SUPPORT : - 424.00, 420.00
STRATEGY : - SELL ON HIGH

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ZINC (31 JULY)
ALUMINUM (31 JULY)
NICKEL (31 JULY)
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 1155.00, 1165.00
SUPPORT : - 1125.00, 1110.00
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 123.50, 124.50
SUPPORT : - 121.40, 120.00
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 143.50, 144.50
SUPPORT : - 141.50, 140.50
STRATEGY : - SELL ON HIGH

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GOLD 1307.73
SILVER 20.939
COPPER 3.205
CRUDEOIL 102.00
PALLANDIUM 872.30
PLATINUM 1486.70
USDINR 60.2350
EURUSD 01.3462
USDJPY 101.404
USDCHF 00.9022
GBPUSD 01.7071
USDCAD 01.0730

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