MCX COMMODITY MARKET NEWS & LEVELS - 17 AUG 2017

Gold gains in Asia as Fed indecision seen a buy opportunity.  
Investors took advantage of more confusion about Fed policy on rates and took the precious metal higher in Asia on Thursday after minutes released overnight casts some doubt on a third hike this year. Fed minutes showed an increased debate about another rate hike this year and the political backlash against Donald Trump's remarks on racist confrontations this passed weekend in Virginia weighed. The summary portrays views that inflation ultimately will get to the Fed's 2% target but is clearly not there yet. Earlier, Cleveland Fed President Loretta Mester said that while some price readings have fallen this year, expectations are more stable, adding that monetary policy must anticipate changes in the data and not react to temporary aberrations. She said there is roughly an equal chance that the Fed is forced to raise rates more or less aggressively than currently planned in the months and years ahead. 

Why Zinc Price Hits 10-Year High? Where is it Head? SMM Reports.   
LME zinc rose 1.6% on August 16 to breach $3,000 per tonne, peaking from October, 2007. The average operating rate at Chinese zinc mines is expected to fall 1.5% on the month to 74.2% in August. Meanwhile, some mines and smelters in Sichuan have slashed or suspended production after the entry of central environmental protection team, which will drag down their operating rates in August. Supplies declined, and gave support to zinc price.  

WBMS: Global Aluminum Market in Big Deficit in H1 2017.  
Global aluminum market was in a big deficit during the first six months of 2017, according to latest data from World Bureau of Metal Statistics (WBMS). UBS Raises Aluminum Price Forecast, Citing High-than-Expected Closure in China. In H1 2017, aluminum supply worldwide was in a deficit of 1.07 million tonnes, versus a shortage of 1.1 million tonnes for the whole of 2016.  

Crude oil gain in Asia with U.S. inventory data a mixed picture. 
Crude oil prices rebounded in Asia on Thursday as investors saw buying opportunity on an overnight dip on mixed U.S. inventory data. Record refinery runs in the U.S. are drawing down crude stocks, but gasoline produced is not seeing expected strong demand as the summer driving season heads to a close, said Matt Smith, director of commodities, Clipper Data. Overnight, crude futures settled lower on Wednesday, as data showing U.S. crude production rose to its highest in over two years offset a decline in supplies of U.S. crude for a seventh-straight week. Crude oil fell for the third-straight day, after a report from the Energy Information Administration (EIA) showing crude stockpiles fell by more than expected last week failed to offset concerns over a rise in production. 

Precious Levels
CS GOLD (OCT) OVERVIEW: 
TREND : BULLISH 
RESIST 2: 29450  
RESIST 1: 29300  
SUP 1: 28950 
SUP 2: 28800 

CS SILVER (SEP) OVERVIEW: 
TREND : BULLISH 
RESIST 2: 39900 
RESIST 1: 39600 
SUP1: 38700 
SUP2: 38400 

Base Metal Levels
CS COPPER (AUG) OVERVIEW: 
TREND : BULLISH 
RESIST 2: 430.00 
RESIST 1: 426.00 
SUP1: 415.00 
SUP2: 410.00 

CS NICKEL (AUG) OVERVIEW: 
TREND : BULLISH 
RESIST 2: 709.00 
RESIST 1: 704.00 
SUP1: 682.00 
SUP2: 677.00

CS ZINC (AUG) OVERVIEW: 
TREND : BULLISH 
RESIST 2: 208.00 
RESIST 1: 205.00 
SUP1: 195.00 
SUP2: 192.00 

CS LEAD (AUG) OVERVIEW: 
TREND : BULLISH 
RESIST 2: 168.00 
RESIST 1: 165.00 
SUP1: 156.00 
SUP2: 153.00

CS ALUMINIUM (AUG) OVERVIEW: 
TREND : BULLISH 
RESIST 2: 139.00 
RESIST 1: 137.00 
SUP1: 133.00 
SUP2: 131.00 

Energy Levels
CS CRUDE OIL (AUG) OVERVIEW: 
TREND : BEARISH 
RESIST 2: 3090 
RESIST 1: 3050 
SUP1: 2950 
SUP2: 2910 

CS NATURAL GAS (AUG)OVERVIEW: 
TREND : BEARISH 
RESIST 2: 191.00 
RESIST 1: 188.00 
SUP1: 181.00 
SUP2: 178.00 
 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