Gold prices edged higher on Friday due to a weaker US dollar following softer than expected US jobs data. While the jobs report showed steady wage growth, allowing the Fed to continue gradual rate hikes, weaker dollar makes gold less expensive for other currency holders. Copper prices fell due to a strong US dollar and economy, though China's central bank rate cut provided some support. Oil prices dropped as Saudi Arabia assured adequate supply and on hopes that the US may grant Iran sanctions waivers.

1. CapitalStars Financial Research Pvt., Ltd., 1
SEBI Registration Number: INA000001647
MCX Daily Report 08 OCT 2018
News Highlights
Gold inches up as dollar eases after tepid U.S. jobs data.
Gold edged higher on Friday, on track for its biggest weekly gain in six, as the dollar softened after
data showed U.S. job growth slowed more than expected last month and a slide in stock markets
burnished the appeal of bullion as a safe haven. "The weaker-than-expected jobs data is
supporting the overall current mood but the numbers were not disappointing enough to trigger
fresh buying," said Heraeus precious metals trader Alexander Zumpfe. However, the Labor
Department's monthly employment report also showed a steady rise in wages, suggesting
moderate inflation pressures, which could allow the Federal Reserve to maintain a path of gradual
interest rate increases. Weaker dollar makes bullion less expensive for buyers using other
currencies. But rising interest rates increase the opportunity cost of holding bullion.
The recent US-Mexico-Canada Agreement will also put China’s exports under pressure.
China’s central bank, however, provided some support.
London copper lost 0.67% to end at $6,186.5/mt on Friday. SHFE copper faces pressure from a
strong US dollar and firm US economy. The recent US-Mexico-Canada Agreement will also put
China’s exports under pressure. China’s central bank, however, provided some support. The
reserve requirement ratios (RRRs) cut of 100 basis points announced on Sunday is set to bolster
the stock market and grow anticipation of investment growth in infrastructure construction in the
fourth quarter of the year. We expect LME copper to trade at $6,140-6,210/mt today with the SHFE
1811 contract at 49,000-50,100 yuan/mt. Spot premiums are seen at 20-70 yuan/mt as traders
might clean up their stocks and downstream consumers would restock after the week-long break.
LME inventories continued to decline but on a smaller scale.
Last week, LME fell after it gained 3% on Wednesday with resistance at the 40-day moving
average and support at $12,000/mt. Stocks across LME inventories continued to decline but
on a smaller scale. We expect LME nickel to hover around
$12,600/mt today with the SHFE 1811 contract trading at 103,500-105,000 yuan/mt. Spot
prices are seen at 103,500-110,000 yuan/mt..
Oil Drops on Saudi Assurance and Hopes for U.S. Waivers on Iran.
Oil has rallied to trade near four-year highs on concerns that the looming U.S. restrictions on the
Islamic republic will squeeze shipments and spur a global crunch at a time when supplies are
already being disrupted in Venezuela and Libya. Investors remain concerned the Organization of
Petroleum Exporting Countries and

2. its allies aren’t raising output quickly enough and that they may not have the capacity to fully
cover disappearing volumes. Brent for December settlement fell as much as 96 cents to $83.20 a
barrel on the London-based ICE Futures Europe exchange, and was at $83.30 at 10:28 a.m. in
Singapore. The contract slipped 0.5 percent to $84.16 on Friday. The global benchmark crude
traded at a $9.66 premium to U.S. West Texas Intermediate for the same month.

3. CapitalStars Financial Research Pvt., Ltd.,
SEBI Registration Number: INA000001647
MCX Daily Report 08 OCT 2018
Precious Metals
CS GOLD (DEC) OVERVIEW:
TREND : BULLISH
RESIST 2: 31600
RESIST 1: 31450
SUP 1:31200
SUP 2:31100
WWW.CAPITALSTARS.COM
+917440449744
CS SILVER (DEC) OVERVIEW:
TREND : BULLISH RESIST
2: 39100
RESIST 1: 38900
SUP 1: 38700
SUP 2: 38500
WWW.CAPITALSTARS.COM
+917440449744
Base Metals
CS COPPER (NOV) OVERVIEW:
TREND : BEARISH RESIST
2:460.00
RESIST 1:455.00
SUP 1: 450.00
SUP 2: 445.00
WWW.CAPITALSTARS.COM
+917440449744
CS NICKEL (OCT) OVERVIEW:
TREND : BULLISH RESIST
2: 945.00
RESIST 1: 935.00
SUP 1: 922.00
SUP 2: 910.00
WWW.CAPITALSTARS.COM
+917440449744
CS ZINC (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2:201.00
RESIST 1: 197.00
SUP 1: 194.00
SUP 2: 190.00
WWW.CAPITALSTARS.COM
+917440449744
CS LEAD (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 151.00
RESIST 1: 148.00
SUP 1: 147.00
SUP 2: 145.00
WWW.CAPITALSTARS.COM
+917440449744
CS ALUMINIUM (OCT) OVERVIEW:
TREND : BERAISH
RESIST 2: 155.00
RESIST 1: 153.00
SUP 1: 150.00
SUP 2: 148.00
WWW.CAPITALSTARS.COM +917440449744
Energies
CS CRUDE OIL (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2: 5550
RESIST 1: 5500
SUP 1: 5450
SUP 2: 5400
WWW.CAPITALSTARS.COM
+917440449744
CS NATURAL GAS (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2: 245.00
RESIST 1: 242.00
SUP 1: 235.00
SUP 2: 232.00
WWW.CAPITALSTARS.COM
+917440449744

5. CapitalStars Financial Research Pvt., Ltd., 3
SEBI Registration Number: INA000001647
MCX Daily Report 08 OCT 2018
Pick for the DAY
MCX CRUDE Oct on Friday as seen in the Daily chart opened at 5495 levels
and made day high of 5591 levels. During this period Crude low is 5469 levels
and finally closed at 5546 levels. Now, there are chances of up movement
technically & fundamentally.
Oil has rallied to trade near four-year highs on concerns that the looming U.S.
restrictions on the Islamic republic will squeeze shipments and spur a global
crunch at a time when supplies are already being disrupted in Venezuela and
Libya.
Investors remain concerned the Organization of Petroleum
Exporting Countries and its allies aren’t raising output quickly enough and that
they may not have the capacity to fully cover disappearing volumes.
DAILY RECOMMENDATION: BUY MCX CRUDE DEC ABOVE 5450
LEVELS FOR TARGET OF 5490/5530 WITH SL 5390 OF LEVELS.

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SEBI Registration Number: INA000001647
MCX Daily Report 08 OCT 2018
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