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MCX Daily Report 11TH JUNE 2019

News Highlights
BULLION - Gold prices consolidated a bit after hitting highest level in 15 months following
uncertainty related to ongoing negotiation between US-China and US-Mexico. Yesterday, US
President Trump again tried to put further pressure on China saying that, if Chinese President
XI does not attend the G20 meeting, increased tariffs will be implied on the remaining $300
billion worth goods as well. Market might give some reaction on this new update, due to this
ongoing war we also saw China’s gold reserve increase for the 6th consecutive month in May.
On the Economic calendar US PPI data is expected today, although all eyes are waiting for the
interest rate decision by the Fed in their policy meet next week. Speculators raised net long
position in COMEX gold in the week ended June 4, data from the U.S. Commodity Futures
Trading Commission (CFTC) showed on Friday.

ENERGY- Copper rose for second successive session after US struck a deal to avert a tariff war
with Mexico, boosting sentiment on trade and easing concerns about a global slowdown. The
US dropped its threat to impose tariffs on Mexico in a deal to combat illegal migration from
Central America, helping to calm markets already worried about the China-U.S. trade war.
Rare earth exports by China, the world’s dominant producer, fell 16% in May from a month
earlier amid an increased focus on the raw materials due to the Sino-U.S. trade war. According
to official customs data, China’s unwrought copper imports fell 10.9% from the previous
month to 361,000 tns in May. Arrivals of unwrought copper, including anode, refined and
semi-finished copper products were down from 405,000 tns in April and down 23.2% from
470,000 tns in May 2018. For the day, volatility for base metals could remain low ahead of
important inflation number that will be released tomorrow from China.

BASE METAL - Oil prices traded choppy as Saudi Arabia and Russia had yet to agree on
extending an output-cutting deal and U.S.-China trade tensions continued to threaten demand
for crude. Saudi Energy Minister Khalid al-Falih reported that Russia was only oil exporter still
undecided on need to extend the output deal agreed by top producers. Meanwhile, Russia on
Monday said it might support an extension of supply cuts that have been in place since
January, warning oil prices could fall as low as $30 per barrel if producers supply too much
crude. On trade war front, President Donald Trump said on Monday that he stands ready to
hit China with more tariffs on at least $300bn worth of goods if he and China's President Xi
Jinping are unable to come to a trade deal later this month at the G20 summit in Japan.
China’s foreign ministry said that China is open for more trade talks with Washington but has
nothing to announce about a possible meeting.
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MCX Daily Report 11TH JUNE 2019

Precious Metals
CS GOLD (AUG) OVERVIEW: CS SILVER (JUL) OVERVIEW:
TREND : BULLISH TREND : SIDEWAYS
RESIST 2: 33000 RESIST 2: 37600
RESIST 1: 32800 RESIST 1: 37100
SUP 1: 32600 SUP 1: 36300
SUP 2: 32500 SUP 2: 36100
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Base Metals
CS COPPER (JUN) OVERVIEW: CS NICKEL (JUN) OVERVIEW:
TREND : SIDEWAYS TREND : SIDEWAYS
RESIST 2: 414.00 RESIST 2: 866.00
RESIST 1: 412.00 RESIST 1: 858.00
SUP 1: 406.00 SUP 1: 846.00
SUP 2: 403.00 SUP 2: 842.00
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CS ZINC (JUN) OVERVIEW: CS LEAD (JUN) OVERVIEW:

TREND : SIDEWAYS TREND : BULLISH
RESIST 2: 206.00 RESIST 2: 158.00
RESIST 1: 205.00 RESIST 1: 156.00
SUP 1: 203.00 SUP 1: 152.00
SUP 2: 202.00 SUP 2: 149.00
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CS ALUMINIUM (JUN) OVERVIEW:

TREND : SIDEWAYS
RESIST 2: 145.00
RESIST 1: 144.00
SUP 1: 142.00
SUP 2: 141.00
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Energy
CS CRUDE OIL (JUN) OVERVIEW: CS NATURAL GAS (JUN) OVERVIEW:
TREND : BEARISH TREND : BEARISH
RESIST 2: 3830 RESIST 2: 166.00
RESIST 1:3790 RESIST 1: 165.00
SUP 1: 3720 SUP 1: 162.00
SUP 2: 3690 SUP 2: 161.00
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MCX Daily Report 11TH JUNE 2019

Pick for the DAY

MCX LEAD JUN on MONDAY as seen in the Daily chart opened at 151.60 levels and made
day low of 150.75 Levels. During this period LEAD JUN High is 155.40 levels and finally
closed at 154.95 levels. Now, there are chances of up movement technically &
fundamentally.

DAILY RECOMMENDATION: BUY MCX LEAD JUN ABOVE 155.25 LEVELS FOR TARGET
OF 156.25/157.25 WITH SL 154 OF LEVELS.
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MCX Daily Report 11TH JUNE 2019

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