3rdAugust 2017
27842 -
Market Outlook COMDEX
Gold prices moved lower on Wednesday, pulling away from the
previous sessions seven-week highs as investors locked in
profits and as the U.S. dollar stabilized ahead of a highly-
anticipated report on U.S. employment due later in the day. Oil
prices fell on Wednesday, pressured lower by an unexpected
increase in U.S. inventories and doubts over OPECs ability to
curtail supply and rebalance the oversupplied global market. After
follow-through strength on Monday, copper prices have been
consolidating, they are generally holding up well, but have lost Market Updates
upward momentum. MCX Date Date % Chg
1-08-17 2-08-17
Fundamental News GOLD 28771 28589 -0.63%
Gold is sensitive to moves higher in both U.S. rates and the dollar. SILVER 38515 38116 -1.03%
Weaker dollar makes gold less expensive for holders of foreign COPPER 407.90 405.65 -0.55%
currency, while a rise in U.S. rates lifts the opportunity cost of CRUDE 3135 3147 +0.38%
holding non-yielding assets such as bullion. ALUMINIUM 121.85 122.15 +0.25%
Oil prices were also under pressure amid fresh doubts over how LEAD 149.20 149.65 +0.30%
effective production cuts by the Organization of the Petroleum NICKEL 657.90 658.90 +0.15%
ZINC 178 178.35 +0.20%
Exporting Countries will be at reducing the global supply glut.
NATURALGAS 181.20 180.20 -0.55%
+0.67%COME Date Date % Chg
X 1-08-17 2-08-17
GOLD 1272.60 1271.33 -0.10%
Important Data SILVER 16.764 16.729 -0.21%
CRUDE 49.16 49.45 +0.59%
COPPER 2.881 2.885 +0.14%
Time Currenc Event Forecast Previous
$ INDEX 92.92 92.47 -0.48%
y USDINR 64.2825 63.8850 -0.62%
PIVOT
LME INVENTORY
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Due to Summer
COMMODITIES Bank Holiday NO LME
27/07/2017 DATA TODAY
28/07/2017 31/07/2017 01/08/2017 2/08/2017
GUARSEED
Guarseed showed sideways movement and found
the important support level of 3560. If prices sustains
below 3550 level in next trading session then this
momentum can take prices to 3500 level. If it breaks
the resistance level of 3650 then 3700 will act as
next resistance level.
PIVOTS S1 S2 R1 R2
JEERA
Jeera showed bearish movement today and found
the support level of 19000. If prices sustain below
18700 levels in next trading session then this
momentum can take prices to 18500 levels. If it
breaks the resistance level of 19100 then 19400 will
act as next resistance level.
PIVOTS S1 S2 R1 R2
SOYABEAN
Soyabean showed sideways movement and found
the important support level of 2980. If prices sustain
below 2980 level in next trading session then this
bearish momentum can take prices to 2950 level. If
it breaks the resistance level of 3030 then 3070 will
act as next resistance level.
PIVOTS S1 S2 R1 R2
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