Gold prices are expected to continue declining if the US dollar holds its gains and US yields rise further. The US Federal Reserve is expected to continue raising interest rates, supporting the dollar. Copper prices rose slightly on Friday but remain under pressure. Nickel prices also rose as shorts exited positions but sentiment remains bearish. Brent crude oil prices hit their highest level since 2014 ahead of upcoming sanctions against Iran, supporting prices, while traders eye potential for further price increases.

1. CapitalStars Financial Research Pvt., Ltd., 1
SEBI Registration Number: INA000001647
MCX Daily Report 01 OCT 2018
News Highlights
Gold to resume the downside if DXY holds 95 handle and US yields rise, watch $1,180 double bottom.
While gold was climbing on Friday, the price is still technically in bearish territory and the DXY is
making a foundation on the 95 handle which weighs significantly on the outlook for the precious
metal while US yields continue to give the dollar the advantage - and if geopolitics kick up again,
investors might be more inclined to search for yield and that has supported the dollar so far in
2018. The Fed is clearly on the move for the rest of this year and next which had lead to gold
prices on the back foot for the month of September, suffering a monthly decline (six weeks of
losses in fact). We will see how US yields play out again this week, but this is where investors
wish to place capital currently. Stocks could start to become more vulnerable in an environment of
higher rates - (Friday was a display of the bearishness brewing up - Italian budget jitters lead to
the downside - Gold: Bulls rescued by the Italian crisis- led stocks turmoil.
As shorts exited in copper near closing, the contract inched up to an intraday.
The SHFE 1811 contract once fell below the 50,000 yuan/mt level with pressure at the five-day
moving average. As shorts exited near closing, the contract inched up to an intraday high of
50,240 yuan/mt and settled at 50,170 yuan/mt. The October contract traded some 230 yuan/mt
higher than the November one today. The SHFE will be closed tonight and reopen on Monday
October 8 after the week-long National Day holiday.
Inflows declining shorts pulled up the nickel.
Declining shorts pulled up the SHFE 1811 contract above the 20- and 10- day moving
averages, to a high of 104,580 yuan/mt. The contract settled at 104,550 yuan/mt with
capitals of some 213 million yuan flowing out of all SHFE nickel contracts. Open interests of
the 1811 contract lost 20,000 lots to 184,000 lots.
Data to watch tonight include the US August personal consumption expenditures (PCE)
inflation, personal income and spending and September consumer confidence.
Brent oil rises to 4-year high ahead of Iran sanctions, traders eye more hikes.
Brent crude oil prices rose to their highest since November 2014 on Monday ahead of
U.S. sanctions against Iran, the third-largest producer in the Organization of the Petroleum
Exporting Countries (OPEC), that kick in next month. WTI prices were supported by a report on
Friday of a stagnant rig count in the United States, which points to a slowdown in U.S. crude
production C-OUT-T-EIA , which now rivals top producers Russia and Saudi Arabia was pushed
up by looming sanctions against Iran,

2. which will start targeting its oil sector from Nov. 4. In a sign that the financial market is positioning
itself for further price rises, hedge funds increased their bullish wagers on U.S. crude in the week
to Sept. 25, data from the U.S. Commodity Futures Trading Commission (CFTC) showed on
Friday, increasing futures and options positions in New York and London by 3,728 contracts to
346,566 during the period.

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SEBI Registration Number: INA000001647
MCX Daily Report 01 OCT 2018
Precious Metals
CS GOLD (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2: 30550
RESIST 1: 30450
SUP 1:30250
SUP 2:30150
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CS SILVER (DEC) OVERVIEW:
TREND : BULLISH RESIST
2: 38800
RESIST 1: 38600
SUP 1: 38400
SUP 2: 38200
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Base Metals
CS COPPER (NOV) OVERVIEW:
TREND : BEARISH RESIST
2:458.00
RESIST 1:453.00
SUP 1: 448.00
SUP 2: 445.00
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CS NICKEL (OCT) OVERVIEW:
TREND : BEARISH
RESIST 2: 925.00
RESIST 1: 918.00
SUP 1: 910.00
SUP 2: 902.00
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CS ZINC (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2:195.00
RESIST 1: 193.00
SUP 1: 190.00
SUP 2: 188.00
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CS LEAD (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 151.50
RESIST 1: 149.50
SUP 1: 147.00
SUP 2: 145.00
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CS ALUMINIUM (OCT) OVERVIEW:
TREND : SIDEWAYS RESIST
2: 151.00
RESIST 1: 149.00
SUP 1: 147.00
SUP 2: 146.00
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Energies
CS CRUDE OIL (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 5450
RESIST 1: 5370
SUP 1: 5320
SUP 2: 5280
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CS NATURAL GAS (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2: 223.00
RESIST 1: 221.00
SUP 1: 219.00
SUP 2: 217.00
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5. CapitalStars Financial Research Pvt., Ltd., 3
SEBI Registration Number: INA000001647
MCX Daily Report 01 OCT 2018
Pick for the DAY
MCX CRUDE OCT on Monday as seen in the Daily chart opened at 5344
levels and made day high of 5356 levels. During this period Crude high is 5356
levels and finally closed at 5335 levels. Now, there are chances of up
movement technically & fundamentally.
In a sign that the financial market is positioning itself for further price rises,
hedge funds increased their bullish wagers on U.S. crude in the week to Sept.
Brent crude oil prices rose to their highest since November 2014 on Monday
ahead of U.S. sanctions against Iran, the third-largest producer in the
Organization of the Petroleum Exporting Countries (OPEC), that kick in next
month.
DAILY RECOMMENDATION: BUY MCX CRUDE OCT ABOVE 5372
LEVELS FOR TARGET OF 5420/5450 WITH SL 5330 OF LEVELS.

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SEBI Registration Number: INA000001647
MCX Daily Report 01 OCT 2018
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