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CAPITALSTARS – MCX COMMODITY MARKET NEWS & LEVELS – 18 OCTOBER 2019

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Gold Hovers Just Under $1500 Levels In Asia.

COMEX Gold saw muted moves on worries over Indian demand. COMEX Gold futures are currently trading flat at $1496 per ounce. India’s Gold imports tanked 51.42% to Rs 9099 crore while Silver imports also fell 48% to Rs 1102 crore in September 2019. However, the undertone was rather mixed for Gold and some buying emerged in the commodity as the US dollar saw continued weakness following recent economic updates. The dollar index fell to seven week low around 97.50 yesterday, falling for a third straight session. MCX Gold futures closed flat at Rs 38220 per 10 grams. Gold has been locked in a sideways range recently after falling below $1500 per ounce.

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Copper Ends Flat On MCX.

COMEX Copper witnessed choppy moves yesterday. Some buying emerged in the metal on supportive equities but gains were capped on tepid US industrial output data. US industrial production fell by 0.4% in September after climbing by an upwardly revised 0.8% in August, the Federal Reserve released a report on Thursday. Manufacturing output dropped by 0.5% in September after rising by 0.6% in August. COMEX Copper futures are currently trading at $2.59 per pound, down 0.12% on the day. The MCX Copper futures ended flat at Rs 438 per kg.

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EIA Crude Inventories Increase For Forth Week.

Energy Information Administration (EIA) reported a 9.3-million increase in crude oil inventories for the week to October 11, marking a gain for fourth week. The EIA said that at 434.9 million barrels crude oil inventories were 2% above the five-year average for the season. In gasoline, the EIA reported a decline of 2.6 million barrels for the week to October 11, compared with a fall of 1.2 million barrels a week earlier. Gasoline production stood at 10 million barrels daily last week, versus 10.1 million bpd a week earlier. In distillate fuels, the EIA reported inventories had shed 3.8 million barrels, which compared with a decline of 3.9 million barrels a week earlier. Distillate fuel production averaged 4.7 million barrels daily last week, down from 4.8 million bpd a week earlier. Total commercial petroleum inventories fell last week by 1.6 million barrels last week.

Precious Metals

CS GOLD (DEC) OVERVIEW:
TREND :SIDEWAYS
RESIST 2: 38390
RESIST 1: 38290
SUP 1: 38030
SUP 2: 37870

CS SILVER (DEC) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:46050
RESIST 1:45790
SUP 1: 45150
SUP 2: 44750

Base Metals

CS COPPER (OCT) OVERVIEW:
TREND : BEARISH
RESIST 2:339
RESIST 1:338
SUP 1:336
SUP 2:335

CS NICKEL (OCT) OVERVIEW:
TREND : BEARISH
RESIST 2:1203
RESIST 1: 1188
SUP 1:1158
SUP 2:1143

CS ZINC (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 186
RESIST 1:185
SUP 1:183
SUP 2: 182

CS LEAD (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:158
RESIST 1: 157
SUP 1: 155
SUP 2: 154

CS ALUMINIUM (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:135
RESIST 1: 134
SUP 1: 132
SUP 2: 131

Energy

CS CRUDE OIL (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:3860
RESIST 1:3830
SUP 1: 3760
SUP 2: 3710

CS NATURAL GAS (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:168
RESIST 1:167
SUP 1: 165
SUP 2: 164

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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