Ripples Advisory Daily Commodity Report 17-Jan-18

Energy

Oil prices edge up on tighter supplies, healthy demand

Oil prices rose today on tightening supply and strong global demand, although some analysts warned of a downward correction after a more than 13-percent price rise in a month.

Bullions

Gold Prices Up in Asia As Trending Weaker Dollar Aids Sentiment.

Gold prices gained in Asia today with a weaker dollar helping demand for the precious metal priced int he US currency.

Currency

Yen Holds Gains After Surprise Jump In Core Machinery Orders

 The yen held gains against the dollar in Asia on Wednesday as core machinery orders unexpectedly rose and the euro gained after comments from a key European central banker on the hawkish side.

Base Metals

Shanghai aluminium prices slip as ingot flows improve.

Shanghai aluminium prices extended declines into a second day today as improving weather conditions smoothed the flow of ingots

Agri Commodity

Monsoon fails Southern coastal States yet again

Proximity to the sea is not enough to guarantee coastal regions in the South adequate rainfall as is brought out by the performance of the monsoons in the last two years.

Milk, egg output up in 2017-18

Total milk production in the country during the summer of 2017-18 went up by 4.7 per cent to 53.77 million tonnes (mt) against 51.33 mt in the corresponding period last year, according to an official statement on Tuesday.

PIVOT TABLES

SCRIP               S2               S1           R1                R2                          STRATEGY

GOLD               29690        29750    29860           29920                    BUY ON DIPS

SILVER            38100          38750     39800       40200                     BUY ON DIPS

CRUDE OIL      4060            4125       4160         SELL                       ON RISE

NATURALGAS  192.90      196.20    202.00         204.50                SELL ON RISE

BUY ZINC ABOVE 220 TGT 221/223 SL BELOW 218

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