BULLION METALS OUTLOOK -

GOLD - Gold prices have lately seen an upsurge following expectations of monetary policy easing from major central banks
to shore up the global economy. Escalating tensions in the Middle East have also added to the safe-haven appeal of gold. A
stronger US dollar, however, capped the gains.The European Central Bank (ECB) signalled an accommodative monetary policy
at its meeting on July 25. The US Fed is also widely expected to cut its overnight benchmark lending rate. Lower interest rates
reduce the opportunity cost of holding non-yielding bullion. If the Fed surprises with a 50 bps cut, gold prices could get a
further boost.Concerns about tepid economic growth have prompted central banks around the world to review their
monetary policy stance. The International Monetary Fund (IMF) on July 23 lowered its global growth forecast for this year
and the next, warning that more US-China tariffs, auto tariffs or a disorderly Brexit could further dampen growth, weaken
investment and disrupt supply chains.

Chart Details - On the Above Given Chart of Gold has Applied ALLIGATOR AND DARVIS Along with both and made
BEARISHNESS as well as break trendline now on the down move .prices were goes down.

( WEEKLY MCX CALL BUY GOLD ABOVE 34650 TG1-34550 TG2-34400 TG3-34200 SL-34850)

(PREVIOUS CALL RESULT : GOLD ACHIVED 2ND TARGET )

Monday, 29. July .2019

SILVER - Holdings in silver-backed ETFs surged 818.8 tonnes on July 24 2019, the biggest daily increase since 2006.
Silver ETFs have seen inflows of nearly 2,000 tonnes since the start of the month. This is equivalent to more than a
month’s worth of mining production. The holdings in the silver ETFs tracked by Bloomberg are at a record high of
over 18,300 tons as opposed to a 3 percent fall to 649.5 Moz (20,203 t) in 2018, as silver lost its investment lustre
due to a strong US dollar.Silver physical investment remains an important component of the silver market as it
continues to play a key role in investor portfolio diversification. A balanced investment portfolio should consist of at
least 5 percent to 10 percent precious metals. This helps counter equity boom and bust cycles, of which gold usually
makes up the largest part. However, silver is an important alternative to gold, and as such, investors have
accumulated a significant chunk of total annual supply over the last decade.Total physical demand saw a 4 percent
increase in 2018 to an estimated 1,033.5 Moz (32,146 t), a three-year high. A strong recovery from retail investment
(bars and coins), in addition to the gains from jewellery and silverware, offset a slight contraction in industrial
applications. The 1 percent decline in industrial demand was largely a function of a drop in silver used in
photovoltaic’s (PV). This fall offset modest gains in electrical and electronics and brazing alloys and solders.

Detail of Chart - - Chart Details - On the Above Given Chart of Gold has Applied ALLIGATOR AND DARVIS Along with both
the given chart showing BEARISHNESS as well as breakdown of trend line its goes down.

( WEEKLY MCX CALL SELL SILVER BELOW 41200 TG1-41000 TG2-40750 TG3-40450 SL-41450)

(PREVIOUS CALL RESULT SILVER FINAL TARGET ACHIVED : )

✍MCX WEEKLY LEVELS
WEEKLY EXPIRY R3 R2 R1 PP S1 S2 S3
DATE

ALUMINIUM 31-AUG-2019 153.55 149.65 147.50 145.75 143.60 141.85 137.95

COPPER 31-AUG-2019 465.50 455.50 452.10 445.50 442.10 435.50 425.50

CRUDE OIL 19-AUG-2019 5135 4550 4334 3965 3749 3380 2795

GOLD 04-AUG-2019 39057 36421 35314 33785 32678 31149 28513

LEAD 31-AUG-2019 171 162.30 159.40 153.70 150.70 145 136.40

NATURAL GAS 26-AUG-2019 212.50 187.10 173.50 161.75 148.10 136.35 110.95

NICKEL 31-AUG-2019 1042 969 942 896 868 822 750

SILVER 05-SEP-2019 42213 40109 39109 38005 37005 35901 33797

ZINC 31-AUG-2019 216.90 208.50 204.40 200.10 196 191.70 183.30

(On the basis of last week data and the research of our expert you can get profit of 1 lac on the
investment of 3 lacs if you proper follow our guidelines it is also depends on market condition)
MCX - WEEKLY NEWS LETTERS

✍ INTERNATIONAL UPDATES ( BULLION & ENERGY )

✍ GOLD

China's net gold imports via Hong Kong in June tumbled about 35% from the previous month to the lowest in
nine months in part due to a seasonal slowdown in the jewellery industry, data from the Hong Kong Census and
Statistics Department showed on Thursday.Net imports via Hong Kong to China, the world's top consumer of the
metal, decreased to 14.043 tonnes in June from 21.733 tonnes in May, according to the data. The June imports
touched the lowest since September 2018, when they stood at about 11.059 tonnes.Total gold imports via Hong
Kong also fell to their lowest since September 2018, down 34% to 16.685 tonnes last month from 25.329 tonnes
in May.

A traditionally soft season for the jewellery industry, weak consumption and poor spending sentiment could
have led to the drop in imports, said Samson Li, a Hong Kong-based precious metals analyst at Refinitiv
GFMS.Not just Hong Kong, imports via other top conduit Switzerland also slumped in June, he added.China
does not provide trade data on gold. So, the Hong Kong figures serve as a proxy for flows to the
mainland.The Hong Kong data, however, might not provide a complete picture of Chinese purchases as gold
is also imported via Shanghai and Beijing. Gold and silver were trading almost flat on Friday as market
participants are awaiting US economic growth data due later in the day. The yellow metal was hovering at
around Rs 34,849 per 10 gramme at around 1 pm (IST), while the white metal was at around Rs 41,395 at
around the same time. Let's take a look at how various commodities may fare today, as projected by
brokerage SMC Global Securities. On Wednesday, spot gold ended higher by 0.62 percent to close at
$1425.8 per tonne. Prices appreciated over expectation of monetary policy easing by major central banks.
However, recovery in the Dollar Index capped the gains for Gold.
Even the escalating tension from the Middle East and chances of slowdown in the global economy pushed
Gold prices higher. Markets will have keen watch on the U.S. Federal Reserve’s July 30-31 meeting where
they are expected to trim down the rate. A rate cut in by FOMC might push the Dollar lower and support
Gold prices. Moreover, even the European Central Bank (ECB) is expected to move towards monetary

easing. Rising chances of a rate cut by the U.S. FED following weakening of the U.S. economic data might
support Gold prices. On the MCX, gold prices are expected to trade higher today; international markets are
trading lower by 0.08 percent at $1422.45 per ounce. Gold prices declined in futures trade on Tuesday,
tracking weak trends in overseas markets, while a fall in demand by jewellers at spot markets further
weighed on the yellow metal. In global markets, Gold prices fell as the dollar strengthened and some
investors locked in profits ahead of the US Federal Reserve meeting next week. Under normal
circumstances, gold and dollar share an inverse relationship. Since international gold is dollar-denominated,
a rise in the dollar drags .. Bullion counter may trade on weaker path as gold prices witnessed sharp decline
in the previous session, while investors awaited US economic growth data due later in the day that could
provide clues about the Federal Reserve's monetary policy meeting. Gold fell on Thursday after data showed
that weekly US jobless claims number fell to a three-month low last week, pointing to strength in the labor
market, while new orders for key US-made capital goods surged 1.9 per cent in June. Market particip .. The
ECB signalled its intention to explore monetary easing, but left interest rates unchanged, and bank President
Mario Draghi struck a more upbeat tone on the economy than investors expected.

The ECB signalled its intention to explore monetary easing, but left interest rates unchanged, and bank
President Mario Draghi struck a more upbeat tone on the economy than investors expected. In global
markets, Gold prices fell as the dollar strengthened and some investors locked in profits ahead of the US
Federal Reserve meeting next week. Under normal circumstances, gold and dollar share an inverse
relationship. Since international gold is dollar-denominated, a rise in the dollar drags down gold prices and
vice versa. Gold held steady on Thursday in cautious trading before a European Central Bank meeting where
the bank is expected to provide clarity on its stance on monetary policy easing amid tepid economic data
from the region. Spot gold rose 0.1 per cent to $1,426.76 per ounce by 0930 GMT. Prices were short of last
week's peak at $1,452.60.Meanwhile, US gold futures rose 0.2 per cent to $1,427 per ounce. "If we have a bit
of a weaker dollar on the back of the ECB meeting, this m ..
 ✍ ENERGY

WTI Crude prices rose by 1.0 percent to close at $56.8 per barrel over a possible supply disruption. Tension
in the Middle East further escalated after U.S. claimed to destroy another Iranian drone last week in one of
the prime routes for the global crude flows. Fresh concerns rising from the Middle East might hamper the
supply and in turn support Crude prices. Iranian forces captured a British-flagged oil tanker in retaliation of
the Britain’s seizure of an Iranian tanker earlier. However, the International Energy Agency (IEA) stated that
it would keep the markets supplied if any short fall happens due to rising tension from the Middle East which
might weigh on Crude prices. As per the report from the trade group American Petroleum Institute crude
inventories dipped last week which might further support Crude prices.
Crude oil may trade on weaker path as oil prices fell after a Reuters poll showed global economic growth is
likely to slow further amid the US-China trade war, although losses were limited by tensions in the Middle
East. A global economic growth rut risks deepening, despite expectations that major central banks will cut
rates or ease policy further, according to Reuters polls of over 500 economists who remain worried about the
US-China trade war. Increasing pessimism is clear from the latest pol ..
Crude oilNSE 0.22 % was also trading higher after the commodity rose in global markets. As per Reuters, oil
rose on concerns that Iran's seizure of a British tanker last week may lead to supply disruptions in West Asia
and after Libya reported the shut down of its largest oil field. Crude oil may trade on an upside path. It may
move towards Rs 3,930, taking support near Rs 3,850. Natural gas may dip lower and it can test Rs 154,
facing resistance near Rs 160. When Saudi Aramco was on the verge of a deal last year to buy a stake in an
Indian oil refinery, its boss quickly boarded a company jet in Paris and flew to New Delhi. Chief executive
Amin Nasser arrived unannounced early on April 11, 2018, finalised the agreement and signed it later that
day. Negotiators had just finished hammering out the details. His last-minute flight, after a business trip to
France with Crown Prince Mohammed bin Salman, underlined the importance of the de .. Saudi Arabia's oil
addiction is as strong as ever... economically, of course, the Saudi economy runs on oil.
Oil still dominates GDP, exports and government revenues," said Jim Krane, energy fellow at Rice
University's Baker Institute. "That said, Saudi Arabia is changing its relationship with oil. The dependence
remains. But the kingdom is squeezing more value out of its oil," he said. The slow progress means the Saudi
economy is likely to remain hostage to oil prices for long .. Saudi Arabia hopes OPEC and its allies will
agree to extend oil production cuts into the second half of the year at a meeting that will probably take place
in the first week of July, according to the country’s energy minister. “We are hoping that we will reach
consensus to extend our agreement when we meet in two weeks time in Vienna” Khalid Al-Falih told
reporters Sunday on the sidelines of a G-20 ministerial meeting on energy and environment in Japan. The
group will probably meet in “ .. His comments come after the International Energy Agency forecast global
supplies will expand far more than demand next year, putting further pressure on Organization of Petroleum
Exporting Countries. Even though growth in oil demand will expand to 1.4 million barrels a day in 2020, it
will be eclipsed by a 2.3 million barrel-a-day surge in output, as the ongoing boom in US shale is augmented
by new fields in Brazil, Norway and Canada, according to the IEA. Fresh tensions arising out of the Middle
East and falling US Crude inventory levels might support Crude prices. On the MCX, oil prices are
expected to trade lower today; international markets are trading higher by 0.33 percent at $56.96 per
barrel.
BASE METAL’S OUTLOOK

Trading Ideas : -

Aluminium

 Aluminium trading range for the day is 142.30-143.50

 Aluminium prices edged up by 0.18 per cent to Rs 141.60 per kg in futures market Tuesday after
speculators built up fresh positions amid positive trend at the spot market.
 On the Multi commodity Exchange (MCX), aluminium for delivery in July contracts edged higher by
25 paise, or 0.18 per cent, to Rs 141.60 per kg in a business turnover of 1,998 lots.
 The metal for delivery in August contracts traded higher by 40 paise, or 0.28 per cent, to Rs 143.70
per kg in a business turnover of 1,116 lots.
 Analysts said fresh positions created by traders after positive demand from consuming industries
mainly led to rise in aluminium prices

Nickel

 Nickel trading range for the day is 984-994.50

 Nickel prices went up by 0.34 per cent to Rs 989.50 per kg in futures trade Tuesday as speculators
raised their bets on spot demand.
 On the Multi Commodity Exchange, nickel for delivery in July contracts gained Rs 3.40, or 0.34 per
cent, to Rs 989.50 per kg in a business turnover of 8,833 lots.
 Similarly, the metal for delivery in August contracts traded up by Rs 5.60, or 0.57 per cent, to Rs 996
per kg in a business turnover of 8,088 lots.

Copper

 Copper trading range for the day is 447.75-451.50.

 Copper prices rose 0.19 per cent to Rs 446.30 per kg in futures trade Tuesday amid pick-up in
demand at the spot market.
 On the Multi Commodity Exchange (MCX), copper contracts for July delivery traded higher by 85
paise, or 0.19 per cent, to Rs 446.30 per kg in a business turnover of 6,286 lots.
 On the Multi Commodity Exchange (MCX), copper contracts for July delivery traded higher by 85
paise, or 0.19 per cent, to Rs 446.30 per kg in a business turnover of 6,286 lots.
 BASE METAl

✍ NICKEL

Nickel prices went up 1.21 per cent to Rs 957.30 per kg in futures trade Tuesday as speculators raised their
bets amid a firm trend overseas and higher spot demand.On the Multi Commodity Exchange (MCX), nickel
contracts for July delivery gained Rs 11.40, or 1.21 per cent, to Rs 957.30 per kg in a business turnover of
15,092 lots. Increase in domestic demand from alloy-makers and firmness in base metals overseas influenced
nickel prices at futures trade here, analysts said. Nickel prices dived more than 3% on Thursday, its blistering
rally unwinding as a sharp slowdown in euro zone factory activity undermined the outlook for metals
demand. Benchmark nickel on the London Metal Exchange (LME) ended 3.3% down at $14,075 a tonne.The
stainless steel ingredient hit $15,115, its highest in a year, on July 18 after surging more than 20% in a little
more than two weeks

✍ COPPER

Copper prices rose 0.19 per cent to Rs 446.30 per kg in futures trade Tuesday amid pick-up in demand at the
spot market. On the Multi Commodity Exchange (MCX), copper contracts for July delivery traded higher by
85 paise, or 0.19 per cent, to Rs 446.30 per kg in a business turnover of 6,286 lots. Analysts attributed the
rise in copper prices at futures trade to raising of bets by participants, driven by a pick-up in demand at the
spot market.
✍ ZINC

Zinc futures traded 0.44 per cent lower to Rs 193.40 per kg on Thursday as speculators reduced exposure
amid subdued demand at the spot market. Zinc for delivery in June contracts fell by 85 paise, or 0.44 per
cent, to Rs 193.40 per kg at the Multi Commodity Exchange, clocking a business turnover of 1,890 lots.
Traders said the weakness in zinc prices at futures trade was mostly due to cutting down of bets by
speculators in tandem with a weak trend at the spot market

✍ ALUMINIUM

Aluminium prices edged up by 0.18 per cent to Rs 141.60 per kg in futures market Tuesday after speculators
built up fresh positions amid positive trend at the spot market. On the Multi commodity Exchange (MCX),
aluminium for delivery in July contracts edged higher by 25 paise, or 0.18 per cent, to Rs 141.60 per kg in a
business turnover of 1,998 lots. The metal for delivery in August contracts traded higher by 40 paise, or 0.28
per cent, to Rs 143.70 per kg in a business turnover ..
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