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DAILY MCX NEWSLETTER 04-OCT. -2013

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BASE METAL

ENERGY

A prolonged United States government

Copper prices in the global market remained

US crude oil prices remained weak on Thursday

shutdown should be supportive for gold, said

weak on Thursday amid partial shutdown of

amid higher than expected crude oil stock-piles,

HSBC in a research note.

US government, weaker than expected

and concerns that partial shutdown of the US

According to HSBC, the standoff over a

economic data from around the globe and

government may reduce the crude oil demand

continuing resolution to the budget is now in

the US. However, hopes that US Federal

from the world's largest economy. However,

its third day, and the impasse on Wednesday

Reserve may continue with its existing

slight positive data from Europe and China may

undercut the dollar and supported gold.

monetary stimulus program considering

have limited further decline in the commodity

HSBC’s foreign-exchange team says the

partial shutdown of the US government and

prices to some extent. WTI crude oil for

inability of the government to pursue pro-

weaker than expected economic data from

November delivery on NYMEX was seen trading

growth policies going forward is a factor

the United States and around the world may

down by 0.24% at $103.88 per barrel as of

working against the dollar.

have limited further decline in the base

16.12 IST on Thursday.

The bank’s economists say that a government

metal prices to some extent.

India crude oil futures recorded a slight up-tick

shutdown lasting a week or longer increases

Copper futures for December delivery on

on Thursday despite a weak trend on NYMEX.

the risks to the economy, which may hurt

Globex platform of Comex was seen trading

However, technically, the trend in crude oil

business and consumer confidence.

up by 0.030% per pound as of 15.12 IST

futures for October delivery on India's Multi

“That said, we believe bullion is likely to

while copper on London Metal exchange

Commodity Exchange (MCX) looks sideways to

benefit, given its historical status as a safe-

(LME) for delivery in three months was seen

bearish for the day and traders are advised to

haven asset, should the shutdown be

trading down by 0.19% at $7284 per metric

take sell position.

prolonged,” HSBC concluded.

ton as of 12.10 IST on Thursday.

BULLION

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BULLION GOLD (5 DEC.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: -CONSOLIDATE : - 29800, 30100 : - 29150, 28900 : - SELL ON HIGHS

SILVER (5 DEC.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

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: - CONSOLIDATE : - 49300, 49880 : - 48240, 47880 : - SELL ON HIGHS


ENERGY

CRUDEOIL (21 OCT.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : - 6540, 6600 : - 6360, 6300 : - SELL ON HIGHS

NATURAL GAS (28 OCT.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

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: - CONSOLIDATE : - 222.50, 225.00 : - 217.60, 216.00 : - SELL ON HIGHS


BASE METAL COPPER (29 NOV.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : -460.00, 464.00 : - 451.00, 448.00 : - SELL ON HIGHS

LEAD (30 SEP.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

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: - CONSOLIDATE : - 128.30, 128.90 : - 126.90, 126.00 : - SELL ON HIGHS


ZINC (30 SEP.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : - 115.90, 116.70 : - 114.80, 114.00 : - SELL ON HIGHS

ALUMINUM (30 SEP.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : - 112.40, 113.00 : - 111.10, 110.00 : - SELL ON HIGHS

NICKEL (30 SEP.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

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: - CONSOLIDATE : - 855.00, 866.00 : - 830.00, 815.00 : - SELL ON HIGHS


GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1315.98 21.619 03.268 103.13 03.502 701.01 1375.50

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USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

61.7300 01.3626 97.2200 00.8988 01.6163 01.0328


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Daily mcx newsletter 04 oct 2013