DAILY MCX NEWSLETTER

03-JAN. -2014

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BULLION:

US gold futures fell further on Tuesday easing gains recorded in the previous

session and was seen heading for its highest yearly loss since 1981 after investors withdrew their investment from gold and shifted into equities. Gold futures for February delivery on Comex platform of globex was seen trading with a loss of $6.4 at $1197.4 per troy ounce as of 09.58 IST on Tuesday. Holdings at SPDR Gold Trust fell 0.37 percent to 798.22 tons on Monday from 801.22 tonnes on Friday. China's gold imports from Hong Kong declined 42% to below 100 tons in November, showing a fall in jewellery demand and retail investors' buying.

China flipped back to being a net importer of tin in November after being a net exporter for the first time since 2007 in October. Domestic tin mine production and refined tin production both declined year-on-year basis after having risen strongly for much of the year, this means we could see more strengthening in tin imports in the months ahead, said London based Barclays in its recent market analysis. Zinc concentrate imports fell 22% year-on-year back in November and are flat YTD, possibly due to improved domestic availability from the strong recovery in domestic zinc mine production this year. Refined zinc imports, meanwhile, remained strong, up 91% year-on-year in November and 26% YTD given the open import arb and solid financing demand. However, with the arb having narrowed sharply in mid-December, imports could ease back in early 2014, the bank noted.

BASE METAL:

ENERGY: Natural gas futures at India's Multi Commodity Exchange (MCX) has been trading
in the range 180-280 in the last five years.In 2013 also it started on a lower note and gained close to 20 percent for the first quarter. Thereafter, it was range bound for two quarters. A sharp gain has taken place for the last quarter and rose 26 percent as on Dec 27 to 280 levels and reached its resistance level. Overall, Natural Gas prices gained near to 53 percent in 2013. India crude oil futures continued to trade down tracking a slight drop in NYMEX crude oil prices. Meanwhile, copper futures was seen exhibiting volatile movement since morning.

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BULLION
GOLD (5 FEB.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : -CONSOLIDATE : - 29200, 29400 : - 28700, 28500 : - BUY ON DIPS

SILVER (5 MAR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 45700, 46000 : - 44900, 44500 : - SELL ON HIGH

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ENERGY
CRUDEOIL (20 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 6070, 6120 : - 5970, 5930 : - SELL ON HIGH

NATURAL GAS (28 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : -CONSOLIDATE : - 273.00, 276.50 : - 263.50, 260.00 : - SELL ON HIGH

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BASE METAL
COPPER (28 FEB.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : -474.00, 478.00 : - 464.00, 461.50 : - SELL ON HIGH

LEAD (31 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 140.00, 141.00 : - 136.50, 135.50 : - SELL ON HIGH

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ZINC (31 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 131.00, 132.00 : - 128.00, 127.00 : - SELL ON HIGH

ALUMINUM (31 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 113.00, 114.00 : - 110.00, 109.00 : - SELL ON HIGH

NICKEL (31 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 881.00, 888.00 : - 868.00, 862.00 : - SELL ON HIGH

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GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1229.63 20.011 03.364 95.34 04.300 729.80 1404.10

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

62.7050 01.3658 104.286 00.8993 01.6434 01.0654

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