08/09/2017
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08/09/2017
Crude oil futures trade marginally lower on MCX: Crude oil futures traded marginally lower on MCX, though US crude production was hit harder by Hurricane Harvey than expected, with the even bigger storm Irma heading for Florida and threatening to cause more disruption to the petroleum industry.
Copper futures end lower on Thursday: Comex copper futures ended lower on Thursday, while London copper prices too softened as doubts about the strength of demand in top consumer China triggers profit-taking, though some losses were capped by a weaker US dollar on receding expectations of an imminent rise in interest rates.
Gold futures end higher on Thursday: Gold futures ended higher on Thursday as the dollar slipped against a basket of major currencies on the back of weak US jobs data and an unchanged growth and inflation outlook from the European Central Bank.
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08/09/2017
TECHNICAL ANALYST
GOLD
OUTLOOK: TREND: - UP RESISTANCE: - 30600, 30500. SUPPORT: - 30250, 30150. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK
COMEX Gold futures hit fresh one year highs amid sustained buying interest following the US- North Korea worries and a massive slide in Bitcoin this week. The commodity has been in an impressive mode after breaking above the key $1300 per ounce levels. Speculative demand remains supportive for the metal too. The counter is currently trading at $13457 per ounce, up half a percent on the day. MCX Gold futures closed around Rs 30280 per 10 grams amid sustained buying interest.
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08/09/2017
SILVER
OUTLOOK: TREND: - UP RESISTANCE: - 42000, 42200. SUPPORT: - 41600, 41400. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK The Prices of silver were gained on Thursday. And at end of the day the prices were settled at 41617 per 30 kilogram. On the higher side Rs 41160 per 30 kilogram as resistances were noted while lows were at Rs 41775 per 30 kilograms as support noted. The metals remain under a volatile zone.
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08/09/2017
COPPER
OUTLOOK: TREND: - UP RESISTANCE: - 449.50,453. SUPPORT: -445.50, 443. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK The incessant rally of Copper has witnessed some halt in the trades on Thursday. The prices have corrected by over 0.9% in the day trades. Profit booking in the trading circles is the major cause of this correction. Traders are trying to book profits ahead of coming weekend and also on doubts that China will not be able to sustain this rally single handedly.
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08/09/2017
CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 3180, 3210. SUPPORT: - 3120, 2990. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK The international crude oil price of Indian Basket as computed today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 52.97 per barrel (bbl) on 06.09.2017. This was higher than the price of US$ 51.95 per bbl on previous publishing day of 05.09.2017. In rupee terms, the price of Indian Basket increased to Rs. 3401.13 per bbl on 06.09.2017 as compared to Rs. 3330.58 per bbl on 05.09.2017. Rupee closed weaker at Rs. 64.21 per US$ on 06.09.2017 as compared to Rs. 64.12 per US$ on 05.09.2017.
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08/09/2017
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301, 3rd Floor, Mangal City, Vijay Nagar, Indore
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08/09/2017
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