mcxtips

Lead tips
 Lead prices declined 0.52% at the LME while price at the
MCX came down by 1.91% backed by the rupee
 Lead prices should continue to remain weak due to
slowing demand from the auto sector. Major auto
producer Toyota is also planning to increase the hybrid
car sales which should limit the sharp fall in prices
 Compared to other base metals, the weakness in lead
prices should remain intact due to growing risk av ersion
over Sy rian developments
Nickel tips
 Nickel prices remained diverged in yesterday’s session.
Prices witnessed sharp correction at both the platforms in line with the fundamental expectations
 Nickel inventories are maintaining at the highest level (212328 MT) since the LME started keeping records of metal
stocks. On the back of higher stocks, major gains in prices should not be witnessed
 Chinese NPI producers might continue with high
production while the nickel market also remains at
supply surplus
 Indonesia is expected to increase the export quota of
raw-materials ahead of the 2014 export ban and
hence we expect the surplus to increase in nickel
market
 Overall, we do not expect nickel prices to gain at LME
hence selling at higher levels should
mcxtips,leadtips

29 august evening intraday commodity updates || today MCX gold silver tips || Live MCX evening tips for today

mcxtips Technical Outlook valid for August 29,
Unit Support
Spot Gold $/oz 1403/1393

MCX Gold Oct’13 Rs/10 gms 33250/33000
Spot Silver $/oz 23.90/23.60
MCX Silver Sept’13 Rs/kg 55200/54600
Commodities Daily Report
Thursday| August 29


Market Highlights - Gold (% change)
Gold Unit Last
Gold (Spot) $/oz 1417.6
Gold (Spot -
Mumbai)
Rs/10
gms
34250.0
Gold
(LBMA-PM
Fix)
$/oz 1419.5
Comex Gold
(Oct’13)
$/oz 1419.0
MCX Gold
(Oct’13)
Rs /10
gms
33715.0
Market Highlights - Silver (% change)
Silver Unit Last Prev day
Silver
(Spot)
$/oz 24.3
Silver
(Spot -
Mumbai)
Rs/1 kg 58900.0
Silver
(LBMA)
$/oz 2474.0
Comex
Silver
(Sept’13)
$/ oz 24.4
MCX Silver
(Sept’13)
Rs / kg 55776.0
Technical Chart – Spot Gold
Spot gold prices increased around 0.1 percent yesterday on the back of
recovery in the global market sentiments. Further, rise in SPDR gold
holdings to 921.03 tonnes supported an upside in prices.
However, sharp upside in prices was capped on account of strength in
day high of $1433.31/oz
and closed at $1417.60/oz in yesterday’s trading session.
On the MCX, Gold October contract traded on a flat note yesterday
after touching an intra-day high of
Taking cues from strength in the DX along with downside in base
metals complex, Spot silver prices fell around 0.5 percent yesterday.
m US acted as a negative
However, sharp downside in prices was cushioned as a result of rise in
day low of $24.21/oz
ces fell around 2.6 percent and closed at
In the Indian markets, Rupee appreciation is expected to exert
In the international markets, gold prices are expected to fall on the
back of correction seen in the markets after a sharp rise in prices in
previous trading session. However, sharp downside will be cushioned
as a result of upbeat global market sentiments along with weakness in
August 29, 2013
Resistance
1418/1427
33600/33800
24.30/24.60
56200/5680

27/08/13 MCX TIps: Today MCX copper and Natural gas Jump on early trade || intraday gold silver tips for today

Crude Oil
Weekly Price Performance
• In the last week, Nymex crude oil prices declined by 1 percent, with prices testing a low
of $103.5/bbl on the back of restart in Libya’s oil production. However, sharp declines
were cushioned on the back of positive economic data from major global economies.
• On the MCX, near month crude oil contract gained 3 percent as a result of Rupee
depreciation and touched a high of Rs.6927/bbl in the last week.
• Year-to-date, oil prices are up by 16 percent and on the MCX the commodity is up by
whopping 37 percent. The difference in gains in prices is mainly on the back of sharp
depreciation in the Rupee.
Increase in Libyan Oil output to seen due to resumption of Brega exports
• Libya said it will resume oil exports from Brega, one of four ports, where it had declared
force majeure, as protests had shut the facility since July end.
• The nation is currently pumping 670,000 barrels of crude a day, an Oil Ministry official
said today.
• Brega may add some 90,000 barrels a day to Libya’s exports that are running at 500,000
barrels a day.
Outlook
• Crude Oil prices this week are expected to trade higher on the back of estimates of rise
in US GDP ,which in turn will boost sentiments for increase in demand for the
commodity.
• Further, a weaker DX and declining trend in crude oil inventories will be supportive.
• However,sharp upside will be capped on account of restart of Libya’s oil output.
• Rupee depreciation will lead to positive movement in prices on the MCX.
Weekly Technical Levels
• Nymex Crude Oil: Support: $105.70/$104.10 Resistance $108.10/110.10. (CMP:$106.32)
• Buy MCX Crude September between 6790-6780, SL-6730, Target -6960. (CMP:Rs 6760)