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05/10/2015

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DAILY MCX NEWSLETTER

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BULLION:

Gold retained gains from its biggest daily jump in nearly nine months on Monday

as weak U.S. jobs data eased fears the Federal Reserve will hike rates this year.

The data raised new doubts on whether the economy was strong enough for the

Fed to raise interest rates by the end of this year. Gold, which had been weighed

down all year by expectations the U.S. central bank could soon raise rates, rallied

as the dollar fell. The metal is still down nearly 4 percent this year.

BASE METAL: Last week, LME Copper prices jumped by 1.5

percent and rebounded from six year lows as

bearish investors closed out positions at the

quarter-end and ahead of Chinese holidays.

Also, supply disruptions from top producing

countries Chile and Peru lift sentiment in beaten

down sector. Chile's second-biggest copper

mine Collahuasi, owned by Anglo American and

Glencore, said on Tuesday it planned to cut

output by 30,000 tonnes. We expect Copper

prices to trade higher today as supply disruption

concerns from top producing countries Chile

and Peru will be supportive.

ENERGY:

Saudi Arabia's decision to lower prices for oil loading in November shows that the battle for market share in an over-supplied Asian

crude market is far from over. Saudi Aramco, the kingdom's state-owned oil company, cut its official selling price (OSP) for its main

Arab Light grade to Asia to a discount of $1.60 a barrel to the regional benchmark Oman/Dubai price for November from a premium

of 10 cents for October cargoes. Crude prices edged up on Monday after Russia said it was prepared to meet other producers to

discuss the situation in the global oil market, while a report showed a fifth weekly decline in the U.S. oil rig count.

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CS GOLD (DECEMBER) OVERVIEW:

TREND : BULLISH RESIST 2: 26930 RESIST 1: 26750

SUP 1: 26055 SUP 2: 25955

STRATEGY: BUY ON DIPS

CS SILVER (DECEMBER) OVERVIEW:

TREND : BULLISH RESIST 2: 26930 RESIST 1: 26750

SUP 1: 26055 SUP 2: 25955

STRATEGY: BUY ON DIPS

CS CRUDE OIL (OCTOBER) OVERVIEW:

TREND :SIDEWAYS

RESIST 2:3070 RESIST 1:3030

SUP1:2960 SUP2:2920

STRATEGY: SELL ON RISE

CS NATURAL GAS (OCTOBER) OVERVIEW:

TREND :BEARISH RESIST 2:168 RESIST 1:164

SUP1: 161 SUP2:159

STRATEGY: SELL ON RISE

BULLION & ENERGY

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CS COPPER (NOVEMBER) OVERVIEW:

TREND :BEARISH

RESIST 2:350 RESIST 1:347

SUP1:339 SUP2:337

STRATEGY: SELL ON RISE

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BASE METAL

MCX CRUDE OIL OCT., Thursday as seen in the daily chart opened at 2990 levels and day high

of 3098 levels. During this period price corrected & made day low of 2959 levels finally closed

at 2971 levels. Now, there are chances of further downward movement technically &

fundamentally.

Saudi Arabia's decision to lower prices for oil loading in November shows that the battle for market share in an over-

supplied Asian crude market is far from over. While a report showed a fifth weekly decline in the U.S. oil rig count.

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COMMODITY PICK OF THE DAY: CRUDE OIL

DAILY RECOMMENDATION: SELL MCX CRUDE OIL OCT., BELOW 3030 LEVELS FOR

TARGET OF T1 2930/T2 2900 WITH SL OF 3130 LEVELS.

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