08/06/2015

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www.capitalstars.com | Ca

DAILY MCX NEWSLETTER

BULLION:

Gold prices gained on prospects for continued easy monetarypolicy in China on trade data that showed a slump in imports.Earlier, Japan revised first quarter GDP up to a pace of 1%quarter-on-quarter from a preliminary 0.6% gain and an expectedupward revision to 0.7%. The revised GDP data showed theeconomic recovery has gained traction, reaching a 3.9% annualgrowth rate, and overcoming the drag from last year's sales taxhike and economists expect GDP to mark the third straightgrowth quarter in April-June, but at a slower pace. On the COMEX,division of the New York Mercantile Exchange, gold futures forAugust delivery rose 0.48% $1,174.00 a troy ounce.

BASE METAL:LME copper prices moved higher toUSD 5,971/mt last Friday but failed tobreak through the 5-day movingaverage. The prices finally ended upUSD 21/mt at USD 5,941/mt. LMEcopper stocks dropped to 315,125 mt,the lowest since early March. The USnonfarm payrolls posted a 280,000growth in May, the biggest rise sincelast December, and wages also shotup. The US dollar index reboundedsignificantly. Markets are not optimisticabout China’s economic data due outthis week. SHFE 1508 copper contractprices are expected to move at RMB42,700-43,300/mt on June 8. Spotcopper may be quoted at premiums ofRMB 30-80/mt to SHFE 1506 coppercontract in Shanghai.

ENERGY:

Crude oil prices dropped in Asia on Monday as China trade data painted a picture of weak imports by theworld's top crude buyer. Industry research group Baker Hughes said late Friday that the number of rigsdrilling for oil in the U.S. fell by 4 last week to 642. The drop marks the 26th straight week of declines. TheOrganization of Petroleum Exporting Counties decided on Friday to maintain its production levels at 30million barrels per day for at least another six months, despite ongoing concerns over ample globalsupplies. Oil prices were down sharply earlier as the U.S. dollar surged after an upbeat jobs report raisedexpectations for an interest rate hike this fall.

CS GOLD (AUGUST) OVERVIEW:

TREND MIXED TO BEARISHRESIST 2:26900RESIST 1:26855

SUP1:26600SUP2:26515

STRATEGY: SELL ON RISE

CS SILVER (JULY) OVERVIEW:TREND MIXED TO BEARISH

RESIST 2:37330RESIST 1:37280

SUP1: 36785SUP2:36195

STRATEGY: SELL ON RISE

CS CRUDE OIL (JUNE) OVERVIEW:

TREND MIXED TO BEARISHRESIST 2:3890RESIST 1:3850

SUP1:3710SUP2:3670

STRATEGY: SELL ON RISE

CS NATURAL GAS (JUNE) OVERVIEW:

TREND MIXED TO BEARISHRESIST 2:174RESIST 1:172

SUP1:166SUP2:163

STRATEGY: SELL ON RISE

BULLION & ENERGY

CS COPPER (JUNE ) OVERVIEW:

TRENDMIXED TO BEARISHRESIST 2: 389RESIST 1: 387

SUP 1: 380SUP 2: 378

STRATEGY: SELL ON RISE

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BASE METAL

MCX SILVER July Friday as seen in the daily chart opened at 37176 levelsand day high of 37280 levels. During this period price corrected & madeday low of 36725 levels finally closed at 37010 levels. Now, there are

chances of further downward movement technically & fundamentally.

• Japan revised first quarter GDP up to a pace of 1% quarter-on-quarter from apreliminary 0.6% gain and an expected upward revision to 0.7%.

DAILY RECOMMENDATION: SELL MCX SILVER JULY BELOW 37090 LEVELS FOR TARGET OF T1 36940/T2 36840 WITH SL OF 37290 LEVELS.

COMMODITY PICK OF THE DAY: SILVER

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