Gold prices may fall if upcoming US inflation data puts the Fed's policy outlook back in focus. Base metals like copper are expected to remain bullish in the short term, while nickel prices are seen trading rangebound. Oil prices edged up due to a decline in US fuel inventories and looming Iran sanctions. The report recommends buying MCX crude oil for September above 4925 levels.

1. CapitalStars Financial Research Pvt., Ltd.,
SEBI Registration Number: INA000001647
MCX Daily Report
News Highlights
30 Aug 2018
Gold Prices May Fallif PCEData Puts FedOutlook Back in Focus.
Gold prices marked time Wednesday,managinganarrow retracement following the prior day’s weakness but
falling short of substantive trend development. Perhapstellingly, it was unable to capitalize even ascross-winds
from aBrexit-inspired GBP/USDrally weighed on the USDollar. Thegreenback’s weakness is typically aboon for
the anti-fiat yellow metal. Looking ahead, the Fed’s favored PCE gauge of US inflation is in focus. Thecore on-year
price growth rate is expected to return to target at 2 percent having narrowly fallen short of it in the past three
months. Anything short of an improbably dramatic deviation from forecastsseemsunlikely to materially alter the
monetary policy outlook. It might still remind investors of the UScentral bank’s hawkish disposition, boosting the
USDollar and thereby weighing on raw materialsprices.
Copper will continue to run bullish in short period.
While most basemetals stopped or slowed their declines asrisk aversion eased,the market expects to seelimited
upward momentum. LMEcopper traded between the 10- and 40-day moving averagesovernight, and the SHFE
1810 contract inched down to close at 48,800 yuan/mt. Spot premiums are expected to lower to 50-100 yuan/mt as
downstream consumershesitated on higheroffers.
LMEnickel extended its losses during the Europeantrading period.
LMEnickel extended its lossesduring the European trading period and closed Wednesdayat $13,450/mt. TheSHFE
1811 contract cameoff to alow of 109,520 yuan/mt after it initially jumped past 110,000 yuan/mt. It then
rebounded to its daily moving averageand ended overnight at 109,920 yuan/mt. Weexpect nickel prices to trade
range bound with LMEnickel hovering around $13,450/mt today. TheSHFE1811 contract is likely to trade at
109,000-110,500 yuan/mt today with spot prices at 109,000-112,000 yuan/mt.
Oil prices edge up on decline in U.S.fuel inventories, looming Iran sanctions.
Oil prices inched up on Thursday, extending solid gains from the previous sessionon afall in U.S.crude inventories
and expected disruptions to supply from Iran and Venezuela. Therises cameafter crude hit multi-week highs during
the previous session. Commercial crude inventories USOILC=ECIfell by 2.6 million barrels in the week toAug.24, to
405.79 million barrels. U.S.production C-OUT-T-EIAwasflat from the previous week's record 11 million barrels per
day (bpd). prices rose on the backof an unexpected U.S.inventory draw, the secondweek in arow of declines,
together with gasoline demand reaching arecord high," said William O'Loughlin, investment analyst at Australia's
Rivkin Securities.

2. CapitalStars Financial Research Pvt., Ltd., 2
SEBI Registration Number: INA000001647
MCX Daily Report 30 Aug 2018
CS ALUMINIUM (AUG)OVERVIEW:
TREND :BULLISH
RESIST 2:155.00
RESIST 1:154.00
SUP 1:148.00
SUP 2:146.50
WWW.CAPITALSTARS.COM +917440449744
Energies
CS CRUDE OIL (SEP)OVERVIEW: CS NATURAL GAS (SEP)OVERVIEW:
TREND :BULLISH TREND :SIDEWAYS
RESIST 2:4990 RESIST 2:207.00
RESIST 1:4950 RESIST 1:205.50
SUP 1:4880 SUP 1:200.00
SUP 2:4840 SUP 2:198.00
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Precious Metals
CS GOLD (OCT)OVERVIEW: CS SILVER (SEP)OVERVIEW:
TREND :BULLISH TREND :SIDEWAYS
RESIST2:30450 RESIST2:37400
RESIST1:30350 RESIST1:37250
SUP1:29950 SUP 1:36800
SUP2:29700 SUP 2:36600
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Base Metals
CS COPPER (AUG) OVERVIEW: CS NICKEL (AUG)OVERVIEW:
TREND :BULLISH TREND :SIDEWAYS
RESIST2:430.00 RESIST 2:959.00
RESIST1:426.00 RESIST 1:952.00
SUP 1:418.00 SUP 1:938.00
SUP 2:410.00 SUP 2:930.00
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CS ZINC (AUG)OVERVIEW: CS LEAD (AUG) OVERVIEW:
TREND :BEARISH TREND :BEARISH
RESIST2:181.50 RESIST 2:149.50
RESIST 1:179.50 RESIST 1:148.00
SUP 1:176.00 SUP 1:143.00
SUP 2:174.00 SUP 2:141.50
WWW.CAPITALSTARS.COM +917440449744 WWW.CAPITALSTARS.COM +917440449744

3. CapitalStars Financial Research Pvt., Ltd.,
SEBI Registration Number: INA000001647
MCX Daily Report
Pick for the
D
MCX CRUDE SEP on Thursday as seen in th
made day High of 4935 levels. During this p
and finally closed at 4926 levels. Now, t
technically & fundamentally.
 Oil prices inched up on Thursday, extending
a fall in U.S. crude inventories and expect
Venezuela.
 Therises came after crude hit multi-weekhig
DAILY RECOMMENDATION: BUY MCX
CR TARGET OF 4955/4990 WITH SL 4880 OF
LEVE
30 Aug 2018
AY
e Daily chart opened at 4833 levels an
eriod CRUDE came down to 4827 leve
here are chancesof down moveme
solid gainsfrom the previous session
on ed disruptions to supply from Iran
and
hsduring the previoussession.
UDE SEP ABOVE 4925LEVELSFOR
LS.
d
ls
n
t

4. CapitalStars Financial Research Pvt., Ltd.,
SEBI Registration Number: INA000001647
MCX Daily Report 30 Aug 2018
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