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MCX COMMODITY MARKET NEWS & LEVELS - 25 MAY 2017

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Gold prices gain in Asia after Fed minutes set dovish tone.   
Gold gained in Asia on Thursday as investors saw after the U.S. Federal Reserve May meeting minutes overnight as dovish in tone on the timing of the next rate hike. In a statement immediately following the release of its decision to keep its benchmark rate unchanged in May, the Federal Reserve reiterated that monetary policy remained accommodative to support both an uptick in labor market conditions and a sustained return to 2% inflation. According to investing.com’s Fed rate monitor tool, nearly 80% of traders expect the Fed to hike interest rates in June.  
Rising expectations of a June rate hike prompted a recovery in both the dollar and US treasury yields, but gold futures have been supported by political turmoil in Washington, as investors’ started to question President's Trump ability to deliver on his pro-growth economic agenda. 

Zinc Spot Premiums in Guangdong Shrink Fast on More Supplies.  
Zinc spot premiums in Guangdong contracted rapidly due to increased supplies, SMM reported. Market supplies increased after Hechi Nanfang Nonferrous Metals Co. finished maintenance cycle.   

India Aluminium Scrap prices remain flat; Aluminium Futures settle higher.  
Nickel India major aluminium scrap commodities prices remained flat on the Scrap Register Price Index as on Tuesday, while aluminium futures prices at Multi Commodity Exchange settled higher as dollar fell after weakening U.S. economic data and troubles facing U.S. President Donald Trump. However, market sentiments remain bullish for Aluminium as support seen after the speculation that new aluminum production capacity has been halted in China as the Chinese government’s focus on air pollution, has resulted in a crackdown on a range of polluting industries. 

Oil prices rise in anticipation of extended OPEC-led production cut. 
Oil prices rose by one percent ahead of an OPEC meeting on Thursday that is expected to extend output cuts into 2018, adding at least nine months to an initial six-month cut in the first half of this year. OPEC is widely expected to extend an initial six-month oil output cut pact with allied producers led by Russia to March 2018 at a meeting in Vienna on Thursday that still may produce surprises on new producers joining and a more aggressive tone on compliance. Kuwait, Iraq, Oman and Venezuela supported the Saudi-Russia agreement that production curbs needed to be extended for a period of nine-months until March 2018, to reduce global supply to the five-year average.  
There has been a marked reduction to the inventories, but we're not where we want to be in reaching the fiveyear average," Falih said last week. 

Precious Levels
CS GOLD (JUNE) OVERVIEW: 
TREND : SIDEWAYS 
RESIST 2: 29150 
RESIST 1: 28950 
SUP 1: 28550 
SUP 2: 28350  

CS SILVER (JULY) OVERVIEW: 

TREND : SIDEWAYS 
RESIST 2: 40600 
RESIST 1: 40300 
SUP1: 39200 
SUP2: 38900 

Base Metal Levels

CS COPPER (JUNE) OVERVIEW: 
TREND : BEARISH 
RESIST 2:378 
RESIST 1:374 
SUP1:365 
SUP2:362 

CS NICKEL (MAY) OVERVIEW: 
TREND : BEARISH 
RESIST 2:605 
RESIST 1:595 
SUP1:575 
SUP2:565 

CS ZINC (MAY) OVERVIEW: 

TREND : BEARISH 
RESIST 2:173.00 
RESIST 1:172.00 
SUP1:166.00 
SUP2:165.00 

CS LEAD (MAY) OVERVIEW: 
TREND : SIDEWAYS 
RESIST 2: 136.50 
RESIST 1: 135.00 
SUP1: 131.00 
SUP2: 130.00 

CS ALUMINIUM (MAY) OVERVIEW: 

TREND : BULLISH 
RESIST 2: 128.00 
RESIST 1: 127.00 
SUP1: 124.00 
SUP2: 122.50 

Energy Levels

CS CRUDE OIL (JUNE) OVERVIEW: 
TREND : BULLISH 
RESIST 2:3480 
RESIST 1:3430 
SUP1:3300 
SUP2:3250 

CS NATURAL GAS (MAY) OVERVIEW: 

TREND : BEARISH 
RESIST 2:216.00 
RESIST 1:212.00 
SUP1:202.00 
SUP2:199.00 

 CAPITALSTARS

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DAILY MCX COMMODITY MARKET NEWS & LEVELS - 24 MAY 2017

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Gold weaker in Asia after Moody's downgrade of China.   
Gold dipped in Asia on Wednesday after Moody's Investors Service on Wednesday downgraded China's credit rating to A1 from Aa3, changing its outlook to stable from negative, citing expectations that China's financial strength will erode somewhat over the coming years. Investors look ahead to the release of the Federal Reserve’s minutes for its April meeting on Wednesday, to gauge whether the Fed’s outlook concerning monetary policy has been impacted by recent economic data and geopolitical developments.   
In a separate report on Tuesday, the Commerce Department said sales of newly constructed homes fell in April to a seasonally adjusted annual rate of 569,000. That was below analysts’ estimates of a drop to 610,000.  

Zinc futures climb 1.15% on rise in Chinese imports.  
Zinc futures rose over 1 per cent during evening trade in the domestic market on Tuesday as investors and speculators extended their positions in the industrial metal after imports of the metals into top consumer China rose underlining a tightening supply situation. According to the customs data refined zinc imports to China in April grew by 21 per cent to 47469 tonnes y-o-y while shipments of ore and concentrates jumped 44 per cent.  

Nickel futures in reverse gear.  
Nickel futures were trading lower during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the industrial metal on diminishing demand from consuming industries at the domestic spot markets. Further trimming of positions by participants tracking a reversing trend at the spot market on falling demand from alloy-makers mainly influenced the slide in nickel prices at futures trade. 

Oil prices rise as market expects extended production cut.  
Oil prices rose on Wednesday, supported by increasing confidence that an OPEC-led production cut aimed at tightening the market would be extended through the rest of 2017 and the first quarter of next year.Prices have rebounded on a growing consensus that a pledge by the Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, to cut supplies by 1.8 million barrels per day (bpd) would be extended to March 2018, instead of just covering the first half of this year.It is possible that the backwardation between 2011 and 2014 was irrelevant as overall price levels were so high that production was profitable anyway.  
Others, however, point out that U.S. producers are now so efficient that they can live with prices as low as $40 per barrel, suggesting that an extreme backwardation would be needed to squeeze them out of the market. 

Precious Levels
CS GOLD (JUNE) OVERVIEW: 
TREND : SIDEWAYS 
RESIST 2: 29150 
RESIST 1: 28950 
SUP 1: 28550 
SUP 2: 28350   

CS SILVER (JULY) OVERVIEW: 

TREND : BULLISH 
RESIST 2: 40400 
RESIST 1: 40100 
SUP1: 39200 
SUP2: 38900 

Base Metal Levels

CS COPPER (JUNE) OVERVIEW: 
TREND : BULLISH 
RESIST 2:378 
RESIST 1:374 
SUP1:365 
SUP2:362  

CS NICKEL (MAY) OVERVIEW: 
TREND : BEARISH 
RESIST 2:615 
RESIST 1:605 
SUP1:585 
SUP2:575  

CS ZINC (MAY) OVERVIEW: 

TREND : BEARISH 
RESIST 2:173.00 
RESIST 1:172.00 
SUP1:167.00 
SUP2:166.00  

CS LEAD (MAY) OVERVIEW: 
TREND : SIDEWAYS 
RESIST 2: 136.50 
RESIST 1: 135.00 
SUP1: 131.00 
SUP2: 130.00 

CS ALUMINIUM (MAY) OVERVIEW: 

TREND : BULLISH 
RESIST 2: 128.00 
RESIST 1: 127.00 
SUP1: 124.00 
SUP2: 122.50 

Energy Levels

CS CRUDE OIL (JUNE) OVERVIEW: 
TREND : BULLISH 
RESIST 2:3480 
RESIST 1:3430 
SUP1:3300 
SUP2:3250 

CS NATURAL GAS (MAY) OVERVIEW: 

TREND : BEARISH 
RESIST 2:218.00 
RESIST 1:215.00 
SUP1:205.00 
SUP2:200.00 

 CAPITALSTARS

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

DAILY MCX COMMODITY MARKET NEWS & LEVELS - 23 MAY 2017

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Gold ticks higher with U.S. politics, Fed speakers on the agenda.   
Gold prices ticked higher in North American trade on Monday, kicking the week off with small gains as investors continued to assess the impact of the latest bout of U.S. political turmoil. In addition, a handful of Federal Reserve policymakers are due to make public appearances this week that may offer insight into the likelihood of higher interest rates in the months ahead. Investor sentiment has been hit by fears that the U.S. political system could become engulfed by crisis, preventing lawmakers from pushing through tax or spending reforms. Meanwhile, investors looked ahead to Wednesday’s minutes of the Fed's latest policy meeting for further hints on the timing of the next U.S. rate hike.  
Market players will also keep an eye out on a revised reading of first-quarter U.S. growth data on Friday to gauge if the world’s largest economy is strong enough to withstand a rate hike as early as next month.  

India Brass, Copper Scrap prices remain steady; Copper Futures gain on weak Dollar.  
India Brass, Copper Scrap prices remain steady; Copper Futures gain on weak DollarStock markets in top metals consumer China ended the week higher, snapping a five-week losing streak as soothing regulatory comments and a central bank cash injection offset worries about growth.  

India Nickel Scrap prices stay flat; Nickel Futures finishes above Rs. 600/kg.  
Major nickel scrap prices in India stayed flat on the Scrap Register Price Index as on Friday, while nickel futures prices at India's Multi Commodity Exchange gained on the back of a sustained crackdown in China's polluting steel industry, which fueled worries about steel supply and lifted the prices of its raw materials. However, China investors have cut metals holdings since President Xi Jinping called for increased efforts to ward off systemic risks to help maintain financial security last month.

Oil prices fall as White House proposes U.S. oil reserve sales.  
Oil prices fell on Tuesday after U.S. President Donald Trump proposed the sale of half the country's strategic oil reserves in his budget plan, just as producer club OPEC and its allies are cutting output to tighten the market. Presidential budgets are often ignored by the U.S. Congress, which controls federal purse strings. The plan was released just a day after Trump left OPEC's de-facto leader Saudi Arabia for his first overseas state-visit. Any large release of U.S. strategic reserves would jolt oil markets, where the Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, have pledged to cut supplies by 1.8 million barrels per day (bpd) in order to tighten the market and prop up prices. 

Precious Levels
CS GOLD (JUNE) OVERVIEW: 
TREND : BULLISH 
RESIST 2: 29300 
RESIST 1: 29100 
SUP 1: 28700 
SUP 2: 28500  

CS SILVER (JULY) OVERVIEW: 

TREND : BULLISH 
RESIST 2: 40700 
RESIST 1: 40400 
SUP1: 39400 
SUP2: 39100

Base Metal Levels

CS COPPER (JUNE) OVERVIEW: 
TREND : BULLISH 
RESIST 2:382 
RESIST 1:378 
SUP1:368 
SUP2:364 

CS NICKEL (MAY) OVERVIEW: 
TREND : BULLISH 
RESIST 2:630 
RESIST 1:620 
SUP1:600 
SUP2:590 

CS ZINC (MAY) OVERVIEW: 

TREND : BULLISH 
RESIST 2:176.00 
RESIST 1:174.00 
SUP1:169.00 
SUP2:168.00 

CS LEAD (MAY) OVERVIEW: 
TREND : SIDEWAYS 
RESIST 2: 141.50 
RESIST 1: 139.00 
SUP1: 134.00 
SUP2: 132.50 

CS ALUMINIUM (MAY) OVERVIEW: 

TREND : BULLISH 
RESIST 2: 127.50 
RESIST 1: 126.50 
SUP1: 124.00 
SUP2: 122.50 

Energy Levels

CS CRUDE OIL (JUNE) OVERVIEW: 
TREND : BULLISH 
RESIST 2:3410 
RESIST 1:3380 
SUP1:3280 
SUP2:3250 

CS NATURAL GAS (MAY) OVERVIEW: 

TREND : BULLISH 
RESIST 2:221.00 
RESIST 1:218.50 
SUP1:211.00 
SUP2:209.00 

 CAPITALSTARS

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

DAILY MCX COMMODITY MARKET NEWS & LEVELS - 22 MAY 2017

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Gold slightly weaker in Asia as Trump tour eyed, NKorea shrugged off.   
Gold drifted weaker in Asia on Monday as Donald Trump's first visits abroad as president were in focus with a flurry of deals signed in Saudi Arabia in the first stop and with investors shrugging off the latest missile test by North Korea at the weekend. The appointment of a special counsel comes after Trump fired James Comex, his FBI director who was leading a probe into Russia’s role in the election and reports that he attempted to interfere with the judicial process, leading to talk of possible impeachment.  
Investor sentiment has been hit by fears that the U.S. political system could become engulfed by crisis, preventing lawmakers from pushing through tax or spending reforms. 

LME Copper to Strengthen.  
LME copper will move at USD 5,640-5,700/mt during Asian trading hours on Monday and SHFE 1707 copper will move at RMB 45,500-46,000/mt. In China’s domestic market, spot copper should trade at discounts of RMB 40-100/mt on Monday. 

Chalco Continues Hiking Aluminum Prices in Major Markets.  
China Aluminum International Trading Co. (Chalco Trading) hiked aluminum prices it offered in major markets further today. LME aluminum rose sharply last Friday, but will face corrections today and range USD 1,927-1,950/mt. SHFE 1707 aluminum should rise to RMB 14,000-14,200/mt.    

Oil rises on expectation of extended, possibly deepened output cut.  
Oil Oil prices rose on Monday, supported by reports that an OPEC-led supply cut may not only be extended into next year but might also be deepened to tighten the market and prop up prices. Prices have risen because of expectations that a pledge by the Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, to cut supplies by 1.8 million barrels per day (bpd) would be extended to March 2018, instead of covering just the first half of this year. OPEC's pledge to tighten the market is also being undermined by oil drillers in the United States.  
Goldman Sachs (NYSE:GS) says that the U.S. rig count for new oil production had jumped by 404 since May last year, a rise of 128 percent.   

Precious Levels
CS GOLD (JUNE) OVERVIEW: 
TREND : SIDEWAYS 
RESIST 2: 29000 
RESIST 1: 28800 
SUP 1: 28400 
SUP 2: 28200 

CS SILVER (JULY) OVERVIEW: 

TREND : SIDEWAYS 
RESIST 2: 39800 
RESIST 1: 39500 
SUP1: 38500 
SUP2: 38200 

Base Metal Levels

CS COPPER (JUNE) OVERVIEW: 
TREND : BULLISH 
RESIST 2:378 
RESIST 1:375 
SUP1:364 
SUP2:360 

CS NICKEL (MAY) OVERVIEW: 
TREND : BULLISH 
RESIST 2:616 
RESIST 1:610 
SUP1:590 
SUP2:585 

CS ZINC (MAY) OVERVIEW: 

TREND : BULLISH 
RESIST 2:173.50 
RESIST 1:172.00 
SUP1:166.00 
SUP2:164.50 

CS LEAD (MAY) OVERVIEW: 
TREND : SIDEWAYS 
RESIST 2: 138.50 
RESIST 1: 137.00 
SUP1: 133.00 
SUP2: 131.50 

CS ALUMINIUM (MAY) OVERVIEW: 

TREND : BULLISH 
RESIST 2: 127.50 
RESIST 1: 126.50 
SUP1: 124.00 
SUP2: 122.50 

Energy Levels

CS CRUDE OIL (JUNE) OVERVIEW: 
TREND : BULLISH 
RESIST 2:3400 
RESIST 1:3350 
SUP1:3250 
SUP2:3220 

CS NATURAL GAS (MAY) OVERVIEW: 

TREND : BULLISH 
RESIST 2:219.00 
RESIST 1:215.00 
SUP1:208.00 
SUP2:205.00 

 CAPITALSTARS

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

MCX COMMODITY MARKET NEWS & LEVELS - 19 MAY 2017

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Gold gains in Asia on heightened risk sentiment.   
Gold gained in Asia on Friday on heightened risk sentiment over political turmoil in Brazil and the U.S. and a potentially softer outlook for Fed rate hikes this year as the Trump administration faces headwinds on its economic stimulus plans. Demand fell for traditional safe-havens such as gold, U.S. treasuries, and the yen, as investors turned attention to better than expected U.S. economic data, despite continued political turmoil in Washington.   
According to investing.com’s Fed rate monitor tool 61% of traders expect the Federal Reserve to hike its benchmark rate in June, compared to nearly 80% of traders in the previous week.  

Chinese copper scrap prices rose slightly on Index.  
The Chinese copper scrap prices ended marginally higher on ScrapMonster Price Index  as on WednesdayCopper Transformer scrap prices saw no variation in prices over the previous day. No price-change was witnessed in Cu Yokes. Also, Scrap Electric Motors and Sealed Units prices remained unchanged.  

LME Nickel to Remain at Current Level.  
Continuous recovery in the eurozone may weigh on the US dollar. China’s finished production inventories at Chinese stainless steel plants remained high. SHFE 1709 nickel should hover between RMB 75,500-76,500/mt, with spot prices between RMB 74,200-77,300/mt.    

Crude prices gain slightly in Asia, U.S. rig count eyed.  
Oil World Crude prices rose slightly in early Asia on Friday with weekly rig count figures expected to set the near-term tone ahead of next week's meeting of OPEC and allied producers on production cuts.Overnight, crude futures settled higher on Thursday, as investors remained optimistic that OPEC would reach an agreement to extend the current supply-cut deal beyond June at its meeting next week.Despite the high level of compliance from OPEC members with the deal to rein in supply, global production remains above the five-year average, as non-OPEC members, who are not part of the supply-cut agreement have ramped up production.OPEC and other producers are set to meet on May 25 to decide whether to extend the current supply-cut deal amid growing optimism for a prolonged period of cuts.  

Saudi Arabia and Russia agreed earlier this week that production cuts needed to be extended for a period of nine months until March 2018.The International Energy Agency (IEA) on Wednesday, however, warned that OPEC’s effort to rein in the glut in supply may fail even if the oil group agrees to extend its supply-cut agreement. 

Precious Levels
CS GOLD (JUNE) OVERVIEW: 
TREND : BULLISH 
RESIST 2: 29000 
RESIST 1: 28800 
SUP 1: 28400 
SUP 2: 28200 

CS SILVER (JULY) OVERVIEW: 

TREND : SIDEWAYS 
RESIST 2: 39500 
RESIST 1: 39300 
SUP1: 38300 
SUP2: 38100 

Base Metal Levels

CS COPPER (JUNE) OVERVIEW: 
TREND : BULLISH 
RESIST 2:374 
RESIST 1:369 
SUP1:359 
SUP2:354 

CS NICKEL (MAY) OVERVIEW: 
TREND : SIDEWAYS 
RESIST 2:605 
RESIST 1:597 
SUP1:580 
SUP2:575 

CS ZINC (MAY) OVERVIEW: 

TREND : SIDEWAYS 
RESIST 2:167.50 
RESIST 1:166.00 
SUP1:162.00 
SUP2:161.00

CS LEAD (MAY) OVERVIEW: 
TREND : SIDEWAYS 
RESIST 2: 138.00 
RESIST 1: 136.00 
SUP1: 132.00 
SUP2: 131.00 

CS ALUMINIUM (MAY) OVERVIEW: 

TREND : BULLISH 
RESIST 2: 126.50 
RESIST 1: 125.50 
SUP1: 123.00 
SUP2: 122.00 

Energy Levels

CS CRUDE OIL (JUNE) OVERVIEW: 
TREND : BULLISH 
RESIST 2:3360 
RESIST 1:3330 
SUP1:3200 
SUP2:3170 

CS NATURAL GAS (MAY) OVERVIEW: 

TREND : SIDEWAYS 
RESIST 2:215.00 
RESIST 1:211.00
SUP1:204.00 
SUP2:200.00 

 CAPITALSTARS

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647