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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647

MCX Daily Report

14 JUNE 2018

News High lights

Gold Prices Rise As Dollar Pares Gains. Gold prices were higher on Thursday, rising above the $1,300 level as the dollar lost the momentum from a decision by the U.S. Federal Reserve to raise interest rates. Gold prices are denominated in U.S. dollars, so the movement of the U.S. dollar index impacts the gold price. On Thursday, the U.S. dollar index that measures the greenback’s strength against a basket of six major currencies was down 0.03% to 93.53, giving up gains despite a promising outlook for the U.S. economy. The Fed hiked rates by 25 basis points to a range of 1.75% to 2% and hinted at two more rate hikes later in the year, instead of only one previously. This would mean four rate hikes this year. Gold investors continued to eye the rate hike decision for signs that the dollar go on an upswing. A firmer U.S. dollar makes dollar-denominated assets such as gold more expensive for foreign buyers, and vice versa. Operating rate at secondary lead smelters down 3.98 percentage points in May. The operating rate across China's secondary lead smelters stood at 59.9% in May, down 3.98 percentage points from April, but up 24.6 percentage points from last year, SMM surveyed. Stricter environmental probes by the central government from May accounted for the month on month decline. Most unlicensed small smelters were ordered to shut, and some qualified, large smelters saw their output affected by environmental cuts, SMM learned. China’s output of secondary lead registered 100,900 mt in May, down 6,700 mt from April and up 41,400 mt from last year, SMM data showed. Operating rates across secondary lead smelters in June is likely to remain flat from May as environmental inspections continue, SMM expects. Aluminium inventory dips for six straight weeks on fewer deliveries. China's inventory of primary aluminium, including SHFE warrants, shrank 53,000 mt from last Thursday to stand at 1.92 million mt as of Thursday June 14, SMM data showed. Despite torrential downpours in Guangdong province during last weekend, overall inventory declined on the week due to fewer deliveries to warehouses in northwest China. The drop marked a sixth consecutive week of decline. Oil prices fall as U.S. crude production hits another record. Oil prices eased on Thursday, dragged down by rising output, although strong demand and a drop in U.S. fuel inventories provided the market with some support.Prices were pulled down by another rise in U.S. oil production , which hit a weekly record of 10.9 million barrels per day (bpd) last week, according to the Energy Information Administration (EIA) on Wednesday. U.S. crude output has risen by almost 30 percent in the last two years, and it is now close to top global producer Russia, which produced 11.1 million bpd overall in the first two weeks of June. But the rising output came amid strong demand, which traders said prevented crude prices from falling further. U.S. consumption of gasoline in the United States rose to an historic high of 9.88 million bpd last week, according to the EIA.

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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647

MCX Daily Report

14 JUNE 2018

Precious Metals CS GOLD (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2: 31450 RESIST 1: 31350 SUP 1: 31050 SUP 2: 30950 WWW.CAPITALSTARS.COM +917316690000

CS SILVER (JULY) OVERVIEW: TREND : BULLISH RESIST 2: 41600 RESIST 1: 41400 SUP 1: 40700 SUP 2: 40500 WWW.CAPITALSTARS.COM +917316690000

Base Metals CS COPPER (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 490.00 RESIST 1: 488.00 SUP 1: 480.00 SUP 2: 478.00 WWW.CAPITALSTARS.COM +917316690000

CS NICKEL (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 1075.00 RESIST 1: 1070.00 SUP 1: 1030.0 SUP 2: 1025.00 WWW.CAPITALSTARS.COM +917316690000

CS ZINC (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 222.00 RESIST 1: 220.00 SUP 1: 215.00 SUP 2: 213.00 WWW.CAPITALSTARS.COM +917316690000

CS LEAD (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 171.00 RESIST 1: 169.00 SUP 1: 165.00 SUP 2: 163.00 WWW.CAPITALSTARS.COM +917316690000

CS ALUMINIUM (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 159.00 RESIST 1: 157.00 SUP 1: 153.00 SUP 2: 151.00 WWW.CAPITALSTARS.COM +917316690000

Energies CS CRUDE OIL (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 4590 RESIST 1: 4550 SUP 1: 4450 SUP 2: 4410 WWW.CAPITALSTARS.COM +917316690000

CS NATURAL GAS (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 204.00 RESIST 1: 202.00 SUP 1: 197.00 SUP 2: 195.00 WWW.CAPITALSTARS.COM +917316690000

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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647

MCX Daily Report

14 JUNE 2018

Pick for the Day

MCX Crude Oil June on Wednesday as seen in the daily chart opened at 4469 levels and day high of 4518 levels. During this period price corrected & made day low of 4454 levels finally closed at 4506 levels. Now, there are chances of further upside movement technically & fundamentally.

• The surge in American output puts pressure on other producers, who are losing market share. • Russian and Saudi production has been held back voluntarily since 2017, when the Organization of the Petroleum Exporting Countries (OPEC), together with some nonOPEC producers including Russia, started supply cuts aimed at propping up prices. • OPEC's de-facto leader Saudi Arabia and Russia will also have the chance to talk before the Vienna meeting. Russia and Saudi Arabia are set to open the football world cup, which kicks off in Russia on Thursday. "The two producers' ministers plan to discuss the issue during tomorrow's World Cup game between the two countries," ANZ bank said.

 DAILY RECOMMENDATION: BUY MCX CRUDE OIL JUNE AROUND 4500 LEVELS FOR TARGET OF TG 4550 T2 4580 WITH SL 4420 OF LEVELS.

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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647

MCX Daily Report

14 JUNE 2018

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Mcx daily report 14 june  

This document is all about to provide daily MCX Report.

Mcx daily report 14 june  

This document is all about to provide daily MCX Report.

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