GIVE MISS CALL ON :- +91 99774 99927

MCX COMMODITY MARKET NEWS & LEVELS – 17 JULY 2017

Commodities-Market

Gold up in Asia with China data in focus.  

Gold gained on Monday in Asia ahead of China second quarter GDP and industrial output and retail sales figures fro June with industrial metal demand for housing and property development also in focus. China released second quarter GDP growth with a gain of 1.7% that matched expectations and a yearon-year increase of 6.9% that came in slightly higher than the expected 6.8%. On Thursday the European Central Bank meeting will provide fresh clues on when the central bank will shift away from its ultra-easy policy. Markets in Japan are shut on Monday for a holiday. Last week, gold prices rose to two-week highs on Friday as weak U.S. inflation data added to doubts over whether the Federal Reserve would raise interest rates for a third time this year. Expectations that rates will stay low tend to boost gold, which struggles to compete with yield-bearing investments when borrowing costs rise.

SMM Expects Operating Rates to Fall at Chinese Copper Tube/Pipe Producers in July.  

Operating rates at copper tube/pipe producers in China rose in June, but will fall back in July, SMM predicts.Most copper tube/pipe producers ran at full capacity in June as high temperature, replacement demand, stock replenishment and last year’s frenzy real estate market boosted air-condition demand. Large air-conditioner producers are expected to keep high operating rates in July.

Profit Expands Sharply at Chinese Aluminum Smelters, SMM Says.   

Rising aluminum prices and falling alumina prices allowed profit to expand significantly at aluminum smelters in China. Chalco Raises Aluminum Prices Further After Dramatic Hike. Tug-of-War between Australian Alumina Suppliers and Chinese Buyers, SMM Reports. In the short term, SMM expects aluminum costs to fall further since there is still room to drop for alumina prices.

Oil prices firm on strong China demand, signs of U.S. output slowdown. 

Oil prices strengthened on Monday, supported by a slowdown in the growth of rigs looking for crude in the United States and because of strong refinery demand from China. Both crudes extended gains from strong performances last week. Traders and analysts said the rising prices were a result of strong demand as well as signs that a relentless climb in U.S. oil production was slowing down. “The slowing pace of increases combined with massive drawdowns last week on both official crude inventory numbers from the U.S. probably explains the positive sentiment in general at the moment,” said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore.

Precious Levels

CS GOLD (AUG) OVERVIEW: 

TREND : BEARISH

RESIST 2: 28250

RESIST 1: 28150

SUP 1: 27750

SUP 2: 27650

CS SILVER (SEP) OVERVIEW: 

TREND : BEARISH

RESIST 2: 37700

RESIST 1: 37500

SUP1: 36500

SUP2: 36300

Base Metal Levels

CS COPPER (AUG) OVERVIEW: 

TREND : SIDEWAYS

RESIST 2: 391.00

RESIST 1: 388.00

SUP1: 382.00

SUP2: 379.00

CS NICKEL (JULY) OVERVIEW: 

TREND : BULLISH

RESIST 2: 630.00

RESIST 1: 625.00

SUP1: 610.00

SUP2: 605.00

CS ZINC (JULY) OVERVIEW: 

TREND : SIDEWAYS

RESIST 2: 186.00

RESIST 1: 184.00

SUP1: 179.00

SUP2: 177.00

CS LEAD (JULY) OVERVIEW: 

TREND : SIDEWAYS

RESIST 2: 152.00

RESIST 1: 150.00

SUP1: 146.00

SUP2: 144.00

CS ALUMINIUM (JULY) OVERVIEW: 

TREND : SIDEWAYS

RESIST 2: 126.00

RESIST 1: 125.00

SUP1: 122.00

SUP2: 121.00

Energy Levels

CS CRUDE OIL (JULY) OVERVIEW: 

TREND : BULLISH

RESIST 2: 3110

RESIST 1: 3070

SUP1: 2950

SUP2: 2910

CS NATURAL GAS (JULY) OVERVIEW: 

TREND : SIDEWAYS

RESIST 2: 199.00

RESIST 1: 196.00

SUP1: 190.00

SUP2: 187.00

Commodity Market TipsMCX Copper TipsMCX TipsCrude oil tipsNifty Options Tips,Stock Market LiveFinancial Advisory Company in IndoreStock Advisory Company in Indore

CapitalStars Provides 2 Days 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

Your email address will not be published. Required fields are marked *

Checking...

Ouch! There was a server error.
Retry »

Sending message...

FREE TRIAL REQUEST


CapitalStars FORUM