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CAPITALSTARS – MCX COMMODITY MARKET NEWS LEVELS – 07 October 2019

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COMEX Gold Eases From One Week Top.

COMEX Gold futures slipped from one week high as US stocks saw an impressive surge as weak jobs data spurred hopes of a further decline in interest rates. The DOW jumped 1.4 as a recovery from one month low extended. The yellow metal ended down 0.23% at Rs 1510 per ounce. MCX Gold futures closed at Rs 38305 per 10 grams, down 0.26% in last session after a breaking above Rs 38K earlier in the week. There is some nervousness in local markets over the sliding pace of Gold imports.

WTI Crude Rises 1%.

Crude oil futures edged up on bargain buying in last session. WTI Crude oil futures fell to a two month low earlier in the week as equities slipped. However, an impressive jump in US markets on Friday boosted oil and WTI Crude oil futures closed $52.98 per barrel, up 1% on the day. MCX Crude oil futures closed at Rs 3740 per barrel, up 0.32% on the day after enduring heavy losses in last session. Global central banks are likely to be tilted towards an easy money mode given the tepid economic growth and lax reading on inflation. This can support risky assets in near term.

Copper Sees Modest Buying.

COMEX Copper futures edged up from a one month low amid decent bargain buying. Copper fell on sustained global growth worries and poor economic data. The metal closed at $2.56 per pound, down 0.55% on the day. MCX Copper futures closed to Rs 436 per kg, flat on the day. The ISM said its US non-manufacturing index dropped to 52.6 in September – around three year low after rising to 56.4 in August. Commerce Department said factory orders edged down by 0.1% in August after surging up 1.4% in July.

Precious Metals

CS GOLD (DEC) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 38590
RESIST 1: 38320
SUP 1: 37810
SUP 2: 37570

CS SILVER (DEC) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:46260
RESIST 145820:
SUP 1: 44870
SUP 2: 44360

Base Metals

CS COPPER (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:442
RESIST 1:438
SUP 1:434
SUP 2:431

CS NICKEL (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:1295
RESIST 1: 1280
SUP 1:1250
SUP 2:1235

CS ZINC (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 183
RESIST 1:182
SUP 1:180
SUP 2: 179

CS LEAD (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2:159
RESIST 1: 158
SUP 1: 156
SUP 2: 155

CS ALUMINIUM (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:136
RESIST 1:135
SUP 1: 132
SUP 2: 131

Energy

CS CRUDE OIL (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:3840
RESIST 1:3790
SUP 1: 3690
SUP 2: 3640

CS NATURAL GAS (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2:170
RESIST 1:169
SUP 1: 167
SUP 2: 166

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.

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