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DAILY MCX NEWSLETTER

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07 - APR.-2014

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BULLION:
Gold recovered slightly on Friday after sharp overnight declines but the metal remained near six-week lows and on track for a second straight weekly decline, as improving sentiment over the U.S. economic outlook dented its safe-haven appeal. * Spot gold was up 0.2 percent to $1,293.19 an ounce by 0017 GMT. It is down 3 percent for the week. * On Thursday, gold fell to $1,288.80 - its lowest since Feb. 13 - before closing down 1 percent.

BASE METAL:
Copper recovered some of yesterday’s losses this morning to trade at 2.976 adding 11 points but still remains weak as traders remain worried about the economic situation in China.Copper prices fell by 0.8 percent Wednesday on the back of intensified war concerns. Additionally, strength in the DX along with mixed market sentiments acted as a negative factor.

ENERGY:
* Oil supported by encouraging signs of U.S. economic growth * U.S. crude on course for biggest weekly gain since early Feb Brent steadied below $108 per barrel on Friday, retaining most of its gains from the prior session and heading for the first weekly rise in five, on promising U.S. data and fears geopolitical tensions could dent supply from Russia. The U.S. economy grew a bit faster than estimated in the fourth quarter and new claims for jobless aid fell to a near four-month low last week, suggesting a brighter outlook for demand in the world's biggest oil consumer.

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BULLION

GOLD (5 JUN.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 28500, 28700 : - 28050, 27900 : - SELL ON HIGH

SILVER (5 MAY.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 43500, 43800 : - 42700, 42400 : - SELL ON HIGH

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ENERGY

CRUDEOIL (21 APR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 6150, 6200 : - 6050, 6000 : - SELL ON HIGH

NATURAL GAS (25 APR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 270.50, 275.00 : - 261.50, 257.00 : - SELL ON HIGH

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BASE METAL

COPPER (30 APR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 405.00, 409.00 : - 397.00, 394.00 : - SELL ON HIGH

LEAD (30 APR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 125.00, 126.00 : - 122.00, 121.00 : - SELL ON HIGH

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ZINC (30 APR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 122.00, 123.00 : - 119.00, 118.00 : - SELL ON HIGH

ALUMINUM (30 APR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 109.50, 110.50 : - 106.50, 105.50 : - SELL ON HIGH

NICKEL (30 APR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 995.00, 1002.00 : - 979.00, 972.00 : - BUY ON DIPS

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GOLD SILVER COPPER CRUDEOIL PALLANDIUM PLATINUM

1299.00 20.175 3.058 101.30 788.30 1442.90

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

60.4300 01.3719 103.778 00.8913 01.6599 01.0966

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