The MCX daily report from Capitalstars Financial Research discusses falling gold prices ahead of key central bank speeches at the Jackson Hole symposium, with cautious trading due to uncertain monetary policy directions. It also highlights Oz Minerals' $724 million investment in a new copper mine in Australia and steady oil prices amid declining crude inventories despite rising output. The report concludes with updated market trends and investment recommendations for various commodities, while emphasizing the need for independent evaluation of investment decisions.

1. CapitalStars Financial Research Pvt., Ltd., 1
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MCX Daily Report -24 AUG 2017
News High lights
Gold dips ahead of Jackson Hole speeches, Draghi in focus.
Gold prices fell in Asia on Thursday as investors geared up for a slate of central
bank chiefs at Jackson Hole, Wyoming, over the next two days to discuss global
monetary policies. Traders remained cautious of initiating large positions in the
precious metal ahead of speeches by European Central Bank president Mario
Draghi and Federal Reserve chair Janet Yellen at the central banking symposium.
The Jackson Hole conclave is expected to shed further light on the path of interest
rate hikes in the U.S. this year and on unwinding stimulus efforts by central banks
globally, with a particular focus on the European Central Bank. Ahead of the central banking symposium analysts
have scaled back expectations of further monetary policy tightening. “Yes the Fed may hike in December and yes
the ECB may announce a further taper for 2018 in October but recent events (softer inflation, softer market
sentiment and the strong Euro for the ECB) may mean that now might not be the time they choose to guide
markets towards such an outcome”. Analysts at Deutsche Bank (DE:DE:DBKGn) said.
OZ Minerals to Build New Copper Mine at Cost of $700 million.
OZ Minerals Ltd. said Thursday it would invest A$916 million or $724 million to develop
its Carrapateena copper mine in Australia, to meet the increasingly growing demand for
copper across the global. The Carrapateena copper mine, which is about 160 kms or 99
miles north of Port Augusta, will come online in the fourth quarter of 2019, and yield an
average of 65,000 tonnes of copper and 67,000 ounces of gold a year over 20 years.
SHFE Zinc to Meet Resistance to Lurch Higher.
LME zinc market has slid below the 5-day moving average, and investors are advised to take cautious attitude
due to US economy uncertainties and the upcoming global central bank annual meeting. Eyes should be on US
initial jobless claims.
Oil steady on falling crude inventories, but rising output weighs.
Oil prices were little changed in early trade on Thursday, holding most of their gains
from the previous session after another fall in U.S. crude inventories which is seen as
a sign of a tighter market.Crude futures rose more than 1 percent on Wednesday,
also buoyed by potential output disruptions from a storm approaching the Gulf
Coast. Traders said that ongoing declines in U.S. commercial crude storage levels
were a sign of a gradually tightening market, although another rise in output held
the market back, they said. "Another strong drawdown in U.S. crude oil inventories should see oil prices well
supported," ANZ bank said, although it added that "there was a hint of cautiousness, with U.S. oil output
continuing to push higher."Despite this, U.S. crude stocks fell last week and gasoline stocks were down as well,
the Energy Information Administration said on Wednesday.

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MCX Daily Report -
Precious Metals
CS GOLD (OCT) OVERVIEW:
TREND : BULLISH TREND : BULLISH
RESIST 2: 29500
RESIST 1: 29350
SUP 1: 29000
SUP 2: 28850
Base Metals
TREND : BULLISH TREND : BULLISH
RESIST 2: 431.00 RESIST 2: 765.00
RESIST 1: 428.00 RESIST 1: 760.00
CS ZINC (AUG) OVERVIEW:
TREND : SIDEWAYS TREND : BEARISH
RESIST 2: 205.00 RESIST 2: 157.00
RESIST 1: 203.00 RESIST 1: 155.00
CS ALUMINIUM (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 138.00
RESIST 1: 136.00
SUP1: 131.00
SUP2: 129.00
WWW.CAPITALSTARS.COM +917316690000
Energies
CS NATURAL GAS (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 195.00
RESIST 1: 192.00

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MCX Daily Report -
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MCX Daily Report - 24 AUG 2017
Pick for the Day
MCX Crude Oil Sep on Wednesday as seen in the daily chart opened at 3073 levels
and day high of 3116 levels. During this period price corrected & made day low of
3058 levels finally closed at 3107 levels. Now, there are chances of further upside
movement technically & fundamentally.
∑ The steeper-than-expected decline in gasoline inventories comes against
expectations that gasoline demand is set to tail off, as the peak of the summer
driving season has passed.
∑ “The peak of summer driving season has now passed, and demand for crude will
also wane as refinery runs drop,” said Matt Smith, director of commodity research
at ClipperData. “Gasoline demand will ebb as summer road trips are mostly over and
children head back to school.
DAILY RECOMMENDATION: Buy MCX CRUDE OIL SEP AROUND 3080 LEVELS FOR
TARGET OF T1 3180/T2 3230 WITH SL 2930 OF LEVELS.

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MCX Daily Report - 24 AUG 2017
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