Daily Commodity Updated Market News & Levels-4 October 2016

HIGHLITES:

1. NYMEX, Brent weaker in Asia as investors await U.S. supply figures.2. Gold prices edge up in Asia in thin trade with U.S. jobs in focus.3. Financial markets in Shanghai will be closed for a national holiday for whole week.

PRECIOUS METALS:

Gold prices gained on Tuesday in Asia in thin trade with most attention squarely on U.S. jobs data at the end of the week for a better view of chances the U.S. Federal Reserve will hike rates before the end of the year.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery rose 0.13% to $1,314.45 a troy ounce. Silver futures for December delivery on the Comex gained 0.16% to $18.898 a troy ounce. Markets in China are shut for a week-long holiday.

Overnight, gold prices were little changed near two-week lows on Monday, as market sentiment remained supported as concerns over Deutsche Bank’s health continued to ease.

Gold likely gained support at $1,337.50, the low from July 20 and was met with resistance at $ rate

BASE METALS:

LME Copper prices fell 0.9 percent yesterday to $4819/tonne as local governments in China announced a flurry of property market cooling measures over the weekend, seeking to douse fears about a real estate bubble. Four Chinese cities starting with capital city Beijing on Friday, tightened rules for home purchases, which increased the down payment required on real estate purchases.

Also, Japan's Pan Pacific Copper (PPC) plans to produce 283,700 tones’ of refined copper in October-March, the second half of its financial year, up 17.5 percent from the same period the year before when output was reduced due to system troubles. MCX copper prices traded lower by 1.2 percent to close at Rs.324.8 per kg on Monday.

ENERGIES:

Crude priced dropped further in Asia on Tuesday as investors awaited more supply news from the key U.S. market and in thin dealing with markets in China shut for a week-long holiday.

On the New York Mercantile Exchange U.S. crude futures for November delivery eased 0.51% to $48.56 a barrel. The American Petroleum Institute will releases its estimates of refined product and crude oil inventories at the end of last week later on Tuesday. The figures are followed Wednesday by more closely-watched official data from the U.S. Department of Energy slightly dented by a Reuter’s survey Friday, showing that despite agreeing to cut production OPEC pumped crude in record amounts through September

MARKET LEVELS:

CS GOLD (DECEMBER) OVERVIEW:TREND : BEARISHRESIST 2: 31100RESIST 1: 30960SUP 1: 30670SUP 2: 30350WWW.CAPITALSTARS.COM +917316790000

CS SILVER (DECEMBER) OVERVIEW:TREND : BEARISHRESIST 2: 45650RESIST 1: 45340SUP1: 44440SUP2: 43860WWW.CAPITALSTARS.COM +917316790000 CS COPPER (NOVEMBER) OVERVIEW:TREND : SIDEWAYSRESIST 2:330RESIST 1:327SUP1:322SUP2:318WWW.CAPITALSTARS.COM +917316790000

CS NICKEL ( OCTOBER ) OVERVIEW:TREND : BEARISHRESIST 2: 705RESIST 1: 695SUP1: 678SUP2: 670WWW.CAPITALSTARS.COM +917316790000

CS CRUDE OIL (OCTOBER) OVERVIEW: TREND : BULLISHRESIST 2:3330RESIST 1:3300SUP1:3190SUP2:3150WWW.CAPITALSTARS.COM +917316790000

CS NATURAL GAS ( OCTOBER ) OVERVIEW:TREND : BEARISHRESIST 2:198.00RESIST 1:196.00SUP1:190.00SUP2:188.00WWW.CAPITALSTARS.COM +917316790000

MCX CRUDE OIL October Monday as seen in the daily chart opened at 3202 levels and day high of 3313 levels. During this period price corrected & made day low of 3191 levels finally closed at 3246 levels. Now, there are chances of further upward movement technically & fundamentally.

• Reuter’s survey Friday, showing that despite agreeing to cut production OPEC pumped crude in record amounts through September.

DAILY RECOMMENDATION: BUY MCX CRUDE OIL OCTOBER AROUND 3200 LEVELS FOR TARGET OF T1 3300/T2 3350 WITH SL OF 3100 LEVELS

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