GIVE MISS CALL ON :- +91 99774 99927

CAPITALSTARS – MCX COMMODITY MORNING MARKET NEWS & LEVELS – 17 MAY 2018

Commodities-Market-1

Gold prices remained under pressure on surging U.S. bond yields and a stronger dollar.
Gold on MCX settled down -0.57% at 30997 tracking weakness from Comex Gold price while fell sharply earlier in the week yesterday also settled at $1,291.50/oz tumbling to a 5-month low amid speculation the Federal Reserve will raise interest rates in June. A stronger dollar also dented gold prices. Yesterday Gold prices recovered losses after falling to a session low of $1,285.70 as the dollar retreated from a five-month high, while the 10- year treasury yield met resistance after hitting a nearly seven-year high. The move off the lows in the yellow metal was also supported by renewed geopolitical uncertainty after President Donald Trump appeared less certain as to whether a planned summit with North Korean leader Kim Jong Un would still take place.

Zinc prices settled flat with the uplift from encouraging Chinese home sales data capped by a stronger dollar.
Zinc on MCX settled up 0.02% at 208.60 prices remained generally steady as weak indications such as China’s mining and industrial production were announced the next day and wearing mood was drifting. While LME zinc gained 0.5 percent to $3,076.50 a tonne while sentiments remain weak on risk appetite was news that North Korea cancelled high-level talks with Seoul, denouncing military exercises between South Korea and the United States, breaking from several months of easing relations on the peninsula. Also the United States is seeking to make a rade deal with China, White House economic adviser Larry Kudlow said as bilateral talks between the world’s two economic powerhouses resume in Washington this week.

Spot copper discounts inch up in Shanghai .

Spot copper in the Shanghai market was offered at a discount of 90-40 yuan/mt over the SHFE 1806 contract on the morning of Thursday May 17, SMM learned. This compared with a discount of 120-80 yuan/mt over the SHFE 1806 contract the previous morning.

Oil Prices Rise On U.S. Stock Draws.
Oil prices rose on Thursday morning in Asia after an inventory report showed U.S. crude and gasoline stocks fell more than expected.According to the U.S. Energy Information Administration’s weekly report, U.S. crude inventories fell by 1.4 million barrels in the week to May 11, compared with analyst expectations for a 763,000 barrel decrease. U.S. gasoline stocks fell 3.79 million barrels. Analysts had expected a 1.42 million barrel decline. Meanwhile, looming U.S. sanctions against Iran, which currently produces 4% of global oil supplies, raised fears that oil markets will face shortages later this year when trade restrictions take effect. In Venezuela, production also plunged to 1.5 million barrels last month, its lowest level in decades due to its ongoing economic crisis.

Precious Metals

CS GOLD (JUNE) OVERVIEW: 

TREND : BEARISH

RESIST 2: 31250

RESIST 1: 31150

SUP 1: 30800

SUP 2: 30700

CS SILVER (JULY) OVERVIEW: 

TREND : SIDEWAYS

RESIST 2: 40500

RESIST 1: 40300

SUP 1: 39600

SUP 2: 39400

Base Metals

CS COPPER (JUNE) OVERVIEW: 

TREND : SIDEWAYS

RESIST 2: 468.00

RESIST 1: 466.00

SUP 1: 459.00

SUP 2: 457.00

CS NICKEL (MAY) OVERVIEW: 

TREND : SIDEWAYS

RESIST 2: 1005.00

RESIST 1: 1000.00

SUP 1: 965.00

SUP 2: 960.00

CS ZINC (MAY) OVERVIEW: 

TREND : SIDEWAYS

RESIST 2: 213.00

RESIST 1: 211.00

SUP 1: 207.00

SUP 2: 205.00

CS LEAD (MAY) OVERVIEW:

TREND : SIDEWAYS

RESIST 2: 163.00

RESIST 1: 161.00

SUP 1: 156.00

SUP 2: 154.00

CS ALUMINIUM (MAY) OVERVIEW:

TREND : SIDEWAYS

RESIST 2: 164.00

RESIST 1: 162.00

SUP 1: 156.00

SUP 2: 154.00

Energies

CS CRUDE OIL (MAY) OVERVIEW: 

TREND : BULLISH

RESIST 2: 4940

RESIST 1: 4900

SUP 1: 4790

SUP 2: 4750

CS NATURAL GAS (MAY) OVERVIEW: 

TREND : SIDEWAYS

RESIST 2: 196.00

RESIST 1: 194.00

SUP 1: 188.00

SUP 2: 186.00

Financial Advisory Company in IndoreStock Advisory Company in Indore , Equity Tips  Free Trading Tips  , MCX Tips , sebi registered advisory company , Intraday stock tips  , Capitalstars Video Gallery

CapitalStars Provides  Free Trial To Our Client…

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

Leave a Reply

Checking...

Ouch! There was a server error.
Retry »

Sending message...

FREE TRIAL REQUEST


CapitalStars FORUM