HIGH LIGHTS:-
- NYMEX gives up early gains in Asia, Brent down as U.S. rig count ahead.
- Gold gains in Asia as British pound drops sharply on Brexit views.
- Financial markets in Shanghai will be closed for a national holiday for whole week.
PRECIOUS METALS:-
Gold gained in Asia on Friday as the pound plunged in thin trade as investor’s awaited U.S. jobs data and the return of China to the markets next week after a week-long holiday.
Gold for December delivery on the Comex division of the New York Mercantile Exchange rose 0.41% to $1,258.15 a troy ounce. Silver futures for December delivery on the Comex recovered to $17.343 a troy ounce, nearly flat. Market participants were focusing on Friday’s U.S. nonfarm payrolls report for further indications on the strength of the job market, as the Federal Reserve has indicated that future interest rate decisions will be data-dependent. PRECIOUS LEVEL |
CS GOLD (DEC) OVERVIEW:
TREND : BEARISHRESIST 2: 30000
RESIST 1: 29850
SUP 1: 29450
SUP 2: 29000
CS SILVER (DECEMBER) OVERVIEW:
TREND : BEARISH
RESIST 2: 42900
RESIST 1: 42400
SUP1: 41100
SUP2: 40600
RESIST 2: 42900
RESIST 1: 42400
SUP1: 41100
SUP2: 40600
BASE METALS:-
LME base metals traded mixed yesterday as rising US rate hike betsexerted pressure on dollar denominated commodities. Also, mutedvolumes owing to week long holiday in China have hurt volumes.MCX base metals traded mixed in line with international trends.
LME Copper prices fell by 0.9 percent yesterday to $4799.5/ton asCopper hit a two-week after jobless claims suggested furtherimprovement in the U.S. jobs market, increasing the chances of aFed rate rise later this year and so boosting the dollar.This is in addition to recent comments by Fed members LorettaMaster and Jeffrey Lacker, thereby adding to rising US rate hike bets.MCX copper prices traded lower by 0.6 percent to close at Rs.320.2per kg on Thursday.
LME Copper prices fell by 0.9 percent yesterday to $4799.5/ton asCopper hit a two-week after jobless claims suggested furtherimprovement in the U.S. jobs market, increasing the chances of aFed rate rise later this year and so boosting the dollar.This is in addition to recent comments by Fed members LorettaMaster and Jeffrey Lacker, thereby adding to rising US rate hike bets.MCX copper prices traded lower by 0.6 percent to close at Rs.320.2per kg on Thursday.
BASE METAL LEVELS
CS COPPER (NOVEMBER) OVERVIEW:
TREND :BEARISH
RESIST 2:325
RESIST 1:323
SUP1:319
SUP2:317
RESIST 2:325
RESIST 1:323
SUP1:319
SUP2:317
CS NICKEL (OCT) OVERVIEW:
TREND :BULLISHRESIST 2:702
RESIST 1:690
SUP1:670
SUP2:662
CS ZINC (OCT) OVERVIEW:
TREND :SIDEWAYS
RESIST 2:157.60
RESIST 1:156.60
SUP1:155.00
SUP2:154.00
RESIST 2:157.60
RESIST 1:156.60
SUP1:155.00
SUP2:154.00
CS LEAD (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2:139.00
RESIST 1:138.00
SUP1:136.00
SUP2:135.00
RESIST 2:139.00
RESIST 1:138.00
SUP1:136.00
SUP2:135.00
CS ALUMINIUM (OCT) OVERVIEW:
TREND : SIDEWAYSRESIST 2:113.00
RESIST 1:112.30
SUP1:111.00
SUP2:109.70
ENERGIES:-
Crude oil prices gave up early gains in Asia on Friday though sentiment remained upbeat on the demand and supply outlook ahead of U.S. rig count data.Crude oil for November delivery on the New York Mercantile Exchange eased 0.02% to $50.43 a barrel. Brent oil for December delivery on the ICE Futures Exchange in London fell 0.06% to $52.48 a barrel.Figures from the most recent previous count by oilfield services provider Baker Hughes showed the number of rigs drilling for oil in the U.S. rose by 7 to 425, marking the 13th increase in 14 weeks.
ENERGY LEVELS
CS CRUDE OIL (OCTOBER) OVERVIEW:
CS CRUDE OIL (OCTOBER) OVERVIEW:
TREND :BULLISH
RESIST 2:3470
RESIST 1:3430
SUP1:3330
SUP2:3300
RESIST 2:3470
RESIST 1:3430
SUP1:3330
SUP2:3300
CS NATURAL GAS (OCTOBER) OVERVIEW:
TREND :BULLISH
RESIST 2:206.00
RESIST 1:204.00
SUP1:201.00
SUP2:199.00
RESIST 2:206.00
RESIST 1:204.00
SUP1:201.00
SUP2:199.00
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