DAILY MCX NEWSLETTER

14-JAN. AN. -2014 014

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BULLION:
Indian exchange launches new Gold Hedge contract tracking global market. The new hedge contract is directly linked to international prices thus eliminating such distortions in price. In such a scenario, monopolistic or big players will not have an opportunity to manipulate prices. The new hedge contract is directly linked to international prices thus eliminating such distortions in price. In such a scenario, monopolistic or big players will not have an opportunity to manipulate prices.

BASE METAL:
Chinese copper consumption may go up this year as the state grid forecast a 13% increase in spending. The power sector accounts for more than 40% of Chinese copper demand, and outsized spending in 2013 helped tighten the Chinese market for most of the year, said London based Barclays in its recent market analysis. The new target exceeds our expectations and suggests that copper demand from the power sector could stay as strong, if not stronger, in 2014, the bank said.

ENERGY:
Strong Canadian natural gas imports have already contributed to filling in the US storage gap caused by extreme cold weather, and are likely to continue to do so throughout the winter this year, said London based Barclays in its recent weekly report. Our balances factor in a small year-on-year drop in Canadian imports for Q1 13, due to growing Northeast production increasingly displacing Canadian volumes. However, a weather-driven jump in US natural gas demand could prop up Canadian imports through the rest of the winter, and further help to narrow the ballooning storage gap (versus last years levels),

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BULLION

GOLD (5 FEB.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 29450, 29650 : - 29000, 28800 : - BUY ON DIPS

SILVER (5 MAR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 45500, 45800 : - 44850, 44450 : - BUY ON DIPS

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ENERGY

CRUDEOIL (20 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 5700, 5750 : - 5600, 5550 : - SELL ON HIGH

NATURAL GAS (28 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 265.00, 270.00 : - 256.00, 252.00 : - BUY ON DIPS

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BASE METAL

COPPER (28 FEB.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 460.50, 464.00 : - 453.00, 448.00 : - SELL ON HIGH

LEAD (31 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 134.50, 135.50 : - 130.00, 129.00 : - SELL ON HIGH

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ZINC (31 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 129.00, 130.00 : - 125.00, 124.00 : - SELL ON HIGH

ALUMINUM (31 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 109.00, 110.00 : - 106.00, 105.00 : - SELL ON HIGH

NICKEL (31 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 881.00, 887.00 : - 863.50, 852.00 : - SELL ON HIGH

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GOLD SILVER COPPER CRUDEOIL PALLANDIUM PLATINUM

1251.52 20.333 3.345 92.00 738.00 1441.40

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

61.6125 01.3661 103.475 00.9003 01.6387 01.0883

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