The document summarizes commodity market news and provides analysis on commodity prices. It discusses gold hitting 18-month lows due to the strengthening US dollar and concerns over emerging market currencies. Copper plunged into a bear market on concerns over the US-China trade dispute hurting global growth. Nickel prices are expected to remain weak and range bound. Oil prices recovered slightly on news that US-China trade talks would resume later in August. Natural gas is recommended as a buy.

1. CapitalStars Financial Research Pvt., Ltd., 1
SEBI Registration Number: INA000001647
MCX Daily Report 16Aug 2018
News Highlights
Gold hits more than 18-month low as dollar gains on Turkey troubles.
Gold fell to a more than 18-month low on Wednesday as the dollar climbed towards its highest in over a
year on concerns about global market contagion triggered by recent declines in the Turkish lira. Further
gold liquidation from emerging markets to strengthen local currencies also pressured bullion, several
traders said. The advancing dollar and worries of continued oversupply also pushed platinum and
palladium to their lowest since October 2008 and July 2017 respectively. Bullion has declined about 9
percent this year, pressured by rising U.S. interest rates, a soaring dollar and failure to capitalize on its
traditional role as a hedge against global uncertainties. investors have opted for U.S. Treasuries, seen as
the ultimate safe haven, which meant they had to buy dollars, while bearish sentiment on gold led to
liquidations in exchange-traded funds (ETFs) and a record level of short positions.
Copper Tumbles into a Bear Market.
Copper plunged into a bear market as concerns mount that Turkey’s financial crisis and the U.S.-China
trade spat will stymie global economic growth. The red metal for delivery in three months fell 4 percent to
settle at $5,801 a metric ton at 5:52 p.m. Wednesday on the London Metal Exchange. That’s a more-than
20 percent drop from its high of $7,332 a ton in June, meeting the common definition of a bear market.
Copper has posted four straight daily losses, dropping to the lowest in more than a year. Losses on
Wednesday were triggered by a broad retreat in China as the Yuan weakened and recent data showed the
economy hit a rough patch.
We expect nickel prices to continue their weak and range bound pattern today.
LME nickel slumped over 4%, breaking through $13,000/mt to a low of $12,770/mt, and closed at $12,880
yuan/mt on Wednesday. The SHFE 1811 contract fell past 108,000 yuan/mt to a low of 107,110 yuan/mt
before it slightly rebounded and closed at 107,910 yuan/mt overnight. We expect nickel prices to continue
their weak and range bound pattern today. LME nickel is likely to hover around $12,800/mt and the SHFE
1811 contract at 106,500-108,000 yuan/mt. Spot prices are seen at 107,000-109,000 yuan/mt.
Oil edges up as China, U.S. set for trade talks
Oil prices on Thursday recouped some of the previous day's losses after Beijing said it would send a
delegation to Washington to try to resolve trade disputes between the United States and China that have
roiled global markets. U.S. West Texas Intermediate (WTI) crude futures CLc1 were weaker, trading down
8 cents at $64.93 a barrel amid rising U.S. crude production and storage levels. Both benchmarks lost
more than 2 percent the previous day. said Thursday's markets were pushed up by news that a Chinese
delegation led by Vice Minister of Commerce Wang Shouwen will hold talks with U.S. representatives
led by Under

2. Secretary of Treasury for International Affairs David Malpass later in August. and the United States have
implemented several rounds of tit-for-tat tariffs on each others goods since the start of the year and have
threatened further tariffs on exports worth hundreds of billions of dollars.

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MCX Daily Report 16Aug 2018
Precious Metals
CS GOLD (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 29950
RESIST 1: 29850
SUP 1: 29680
SUP 2: 29580
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CS SILVER (SEP) OVERVIEW:
TREND : BEARISH
RESIST 2: 38300
RESIST 1: 38150
SUP 1: 37500
SUP 2: 37300
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Base Metals
CS COPPER (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 425.00
RESIST 1: 424.00
SUP 1: 417.00
SUP 2: 414.00
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CS NICKEL (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 950.00
RESIST 1: 942.00
SUP 1: 930.00
SUP 2: 924.00
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+917440449744
CS ZINC (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 180.00
RESIST 1: 178.00
SUP 1: 172.00
SUP 2: 170.00
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CS LEAD (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 151.00
RESIST 1: 149.00
SUP 1: 145.00
SUP 2: 143.00
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CS ALUMINIUM (AUG) OVERVIEW:
TREND : SIDEWAYS RESIST 2:
146.00
RESIST 1: 145.00
SUP 1: 144.00
SUP 2: 143.00
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Energies
CS CRUDE OIL (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 4780
RESIST 1: 4730
SUP 1: 4590
SUP 2: 4530
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+917440449744
CS NATURAL GAS (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 210.00
RESIST 1: 208.50
SUP 1: 203.50
SUP 2: 201.50
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MCX Daily Report 16Aug 2018
Pick for the DAY
MCX NG AUG on Tuesday as seen in the Daily chart opened at 204.80 levels and made day
High of 208.40 levels. During this period NG came down to 204.50 levels and finally closed
at 207.60 levels. Now, there are chances of up movement technically & fundamentally.
The EIA reports that total U.S. consumption of natural gas rose by 1%
compared with the previous report week.
Natural gas consumed for power generation climbed by 6% week over week as
temperatures generally warmed across the United States.
DAILY RECOMMENDATION: BUY MCX NG AUG ABOVE
208.30 LEVELS FOR TARGET OF 210/211 WITH SL 205 OF LEVELS.

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SEBI Registration Number: INA000001647
MCX Daily Report 16Aug 2018
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