Commodities Evening Update

Friday | November 16, 2012

International Commodities

Content
Days overview Market Highlights Outlook Important Events for Today

Overview:

Research Team
Nalini Rao - Sr. Research Analyst nalini.rao@angelbroking.com (022) 2921 2000 Extn. 6135 Anish Vyas - Research Analyst anish.vyas@angelbroking.com (022) 2921 2000 Extn. 6104

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Commodities Evening Update

Friday | November 16, 2012

International Commodities
News and Analysis EU Current Account balance rose on a slower note to 0.8B euros Performance during the day
Index Nifty Sensex Nikkei Kospi FTSE Open 5631.00 18491.49 8898.33 1865.81 15156.33 High 5650.15 18563.32 9032.35 1872.69 15198.51

as at 4.30 pm 16 November12
Low 5559.95 18266.76 8898.33 1856.81 14900.02 Last 5574.05 18309.37 9024.16 1860.83 14900.02 % Chg from Prev day -1.01 -0.88 2.20 -0.53 -1.62
Source: Reuters

in September. US Dollar Index gained 0.2 percent and is trading around 81.22. LME Copper inventories rose 0.7 percent today to 255175 tonnes today. European markets are trading on a weak note as US Presidents prepares for the discussion over the fiscal cliff with Republican laws makers today. US index futures are trading on a weak note while Asian stocks have risen due to speculation that the new political party in the power might announce stimulus measures to revive the economy. Spot gold prices are trading on weak note on the back of worries over the fiscal cliff issues in the US along with strength in the DX. Republican law makers are discussing over the same today with Mr. Barack Obama today. The yellow metal declined 0.4 percent today after touching a low of $1707.5 per ounce and currently trading around $1708.9/ oz till 4:30 p.m. In the domestic markets MCX Gold prices are trading on a firm note due to depreciation in the Indian rupee and are currently trading around Rs.31,526 per 10 gms today. Spot silver prices are trading on a weak note taking cues from bearishness in the spot gold prices along with strength in the DX. Additionally, weakness in the base metals pack is also exerting a downside pressure on the spot silver prices. In the domestic markets MCX silver prices are trading on a weak note tracing spot silver prices. Base metal prices are trading in the negative territory on the back of worries of the fiscal cliff debt issues in the US along with weak global market sentiments. Strength in the DX along with rise in the LME inventories also added to the losses in the base metals pack. Copper prices declined 0.7 percent owing to weak global market sentiments along with strength in the DX. Additionally rise in the copper inventories also exerted a downside pressure on the copper prices till 4:30 p.m today. Howeve, MCX copper prices are trading on a flat note due to depreciation in the Indian rupee. NYMEX crude oil prices are trading on a weak note due to bearish global market sentiments resulting from worries amongst market participants over the fiscal cliff issues along with strength in the DX. Expecation of decline in the demand is also weighing on the prices. However, tensions in the Middle East restricted sharp fall in the prices. In the domestic markets depreciation in the Indian rupee is supporting prices of crude on MCX.

as at 4.30 pm 16 November12
Currency Dollar Index Euro/$ Spot INR/$ Spot Open 81.02 1.2779 54.87 High 81.26 1.2786 55.20 Low 81.01 1.2722 54.68 Current 81.22 1.2736 55.14 % Chg from Prev day 0.23 -0.3 +0.8
Source: Reuters

as at 4.30 pm 16 November12
Commodity Spot Gold Comex Gold Dec12 MCX Gold Dec12 Spot Silver Comex Silver Dec12 MCX Silver Dec12 Crude Oil Nymex Dec 12 ICE -Brent Crude Oil MCX Crude Oil Nov 12 Copper LME - 3 Month MCX Copper Nov12 Zinc LME - 3 Month Zinc MCX - Nov12 Lead LME - 3 Month Lead MCX - Nov12 Nickel LME - 3 Month Nickel MCX Nov12 Aluminum LME - 3 Month Aluminum MCX Nov12 Unit Open High Low Last % Chg from Prev day

$/oz $/oz Rs/10g ms $/oz $/oz Rs/kg $/bbl $/bbl Rs/bbl $/tonne Rs/kg $/tonne Rs/kg $/tonne Rs/kg $/tonne Rs/kg $/tonne Rs/kg

1715.30 1715.6 31457 32.58 32.6 61011 85.35 107.69 4671 7648.00 420.60 1950.00 106.20 2195 121.30 15990 883.50 1963.00 107.35

1717.40 1717.2 31540 32.68 32.68 61030 85.7 108.37 4671 7666.75 422.00 1954.00 106.50 2202 121.40 16030 883.60 1964.75 107.45

1707.50 1707.8 31435 32.19 32.21 60652 85.02 107.66 4671 7590.00 419.85 1929.25 105.60 2164 120.20 15886 875.20 1942.25 106.85

1708.9 1708.7 31528 32.25 32.26 60780 85.15 108.16 4671 7596.50 420.65 1933.00 105.85 2169 120.50 15917 879.20 1947.50 107.25

-0.4 -0.4 0.23 -1.07 -1.1 -0.21 -0.2 -2.54 0.11 -0.70 0.01 -1.02 -0.33 -1.18 -0.45 -0.37 0.26 -0.70 -0.23

Commodities Evening Update

Friday | November 16, 2012

International Commodities
Outlook

In the evening session, we expect precious, base metals and crude oil prices to trade with a bearish note due to rise in the risk aversion amongst market participants along with strength in the DX. Investors are awaiting decision over the fiscal cliff issue scheduled to be discussed today between US President Barack Obama and Republican law makers. Rise in the risk appetite might be witnessed if any positive outcome is arrived at which could weaken US Dollar Index. This in turn might support an upside in the commodities.

Technical Outook for evening session 16 November12 ( CMP as of 5.00 pm)

Commodity Gold Dec'12 Spot Gold Silver Dec12 Spot Silver Crude Oil Nov '12 Nymex Crude Oil Dec12 Natural Gas Nov12 Copper Nov'12 Zinc Nov12 Lead Nov12 Aluminum Nov12 Nickel Nov12 Unit Rs/10 gm $/oz Rs /kg $/oz Rs /bbl $/bbl Rs /mmBtu Rs /kg Rs /kg Rs /kg Rs /kg Rs /kg Support 2 31295 1692 60212 31.86 4660 83.9 199.7 417.1 104.55 118.95 105.9 866 Support 1 31455 1704 60615 32.17 4710 84.8 203.2 418.85 105.35 120 106.7 872 CMP 31508 1710 60748 32.28 4757 85.63 205.4 420.25 105.8 120.4 107.2 878.6 Resistance1 31630 1717 61280 32.68 4780 86.05 210.3 422.1 106.75 121.6 108.2 886 Resistance 2 31760 1727 61527 32.87 4830 86.95 213.9 423.6 107.25 122.2 108.9 895

Important Events for Today

Indicator Current Account German Buba President Weidmann Speaks TIC Long-Term Purchases Capacity Utilization Rate Industrial Production m/m Country EU EU US US US Time (IST) 2:30pm 4:00pm 7:30pm 7:45pm 7:45pm Actual 0.8B 75.0B 78.4% 0.2% 90.0B 78.3% 0.4% Forecast 9.2B Previous 8.8B Impact Medium Medium Medium Medium Medium