13/09/2017
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Crude recovers from early lows to end high on Opec report: Crude oil futures recovering from early lows settled higher on Tuesday, after a report showed Opec output fell in August. Opec said production in August fell by 79,000 barrels a day (bpd) to 32.76 million as falling production from Venezuela, Iraq, the UAE and Saudi Arabia offset rising output from Nigeria. The report also highlighted a dip in non-Opec output, after several refineries along the Gulf Coast shut down as Hurricane Harvey tore through the U.S. oil heartland of Texas in August. However, gains were capped as investors braced for U.S. crude inventory due data expected to show a large build in stockpiles.
Copper futures end lower on Tuesday: Comex copper futures ended lower on Tuesday, while London copper prices too fell as funds cut bets on higher prices, inventories in London Metal Exchange warehouses jumped and the dollar steadied at higher levels.
Gold futures end lower on Tuesday: Gold futures ended lower on Tuesday as easing US-North Korea tensions fuelled demand for riskier assets lifting global stocks to record highs for a second straight day.
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13/09/2017
TECHNICAL ANALYST
GOLD
OUTLOOK: TREND: - UP RESISTANCE: - 30100, 30200. SUPPORT: - 29900, 29800. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK
The contract for October delivery was trading at Rs 29848.00, down by 0.28% or Rs 85.00 from its previous closing of Rs 29933.00. The open interest of the contract stood at 6932 lots. Gold futures for December delivery declined $3, or 0.2 percent, to settle at $1,332.70 an ounce on the Comex division of the New York Mercantile. While, spot gold was up 0.3 percent at $1,330.68 an ounce.
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13/09/2017
SILVER
OUTLOOK: TREND: - UP RESISTANCE: - 41350, 41500. SUPPORT: - 41000, 40800. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK The Prices of silver were down on Tuesday. And at end of the day the prices were settled at 41216 per 30 kilogram. On the higher side Rs 41590 per 30 kilogram as resistances were noted while lows were at Rs 40964 per 30 kilograms as support noted. The metals remain under a volatile zone.
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13/09/2017
COPPER
OUTLOOK: TREND: - UP RESISTANCE: - 432.50,435. SUPPORT: -426.50, 424. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK Copper futures for December delivery fell 1 percent to settle at $3.036 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended down 1.2 percent at $6,668 a metric ton.
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CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 3120, 3150. SUPPORT: - 3060, 3030. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK The contract for September delivery was trading at Rs 3063.00, down by 0.33% or Rs 10.00 from its previous closing of Rs 3073.00. The open interest of the contract stood at 18694 lots. Benchmark crude oil futures for October delivery rose 16 cents to settle at $48.23 a barrel on the New York Mercantile Exchange. Brent crude for October delivery rose 39 cents to $54.23 a barrel on the ICE.
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13/09/2017
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13/09/2017
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