Commodities Evening Update

Thursday | November 22, 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

Thursday | November 22, 2012

International Commodities
News and Analysis French Flash Manufacturing PMI rose to 44.7 levels in Performance during the day
Index Nifty Sensex Nikkei Open 5614.80 18510.94 9336.32 1894.66 15431.85 High 5643.15 18567.64 9366.80 1903.27 15528.45

as at 4.30 pm 22 November12
Low 5608.20 18456.96 9304.72 1893.18 15405.79 Last 5627.75 18517.34 9366.80 1899.50 15405.79 % Chg from Prev day 0.23 0.31 1.56 0.82 0.77
Source: Reuters

November. German Flash Manufacturing PMI increased to 46.8 levels in current month. Indian Rupee depreciated 0.3 percent and was trading at 55.25 European markets are trading on a positive note taking cues from favorable data from the nation along with positive manufacturing data from China indicating recovery of the economies. US Index futures are trading on a firm note and Asian markets settled in green. Spot gold prices are trading on a flat note due to rise in the risk appetitite in the global markets resulting from optimism that fiscal cliff issue of the US might be resolved along with weakness in the DX. The yellow metal is trading 0.05 percent higher today after touching a high of $1,732.25 per ounce till 4:30 p.m. In the domestic markets MCX Gold prices are trading 0.1 percent higher owing to depreciation in the Indian rupee and traced spot gold prices. Spot silver prices are also trading on a flat note 0.06 percent higher tracing strength in the spot gold prices along with weakness in the DX. Further, firmness in the base metals pack also added to the gains in the silver prices. In the domestic markets MCX silver prices are trading higher due to depreciation in the rupee. Base metal prices are trading higher taking cues from favorable manufacturing data from China along with weakness in the DX. Positive data from the US is also showcasing that the economy is on the path of recovery. This might increase the demand for the base metals. Copper prices gained 0.4 percent till 4:30 p.m. Rise in the prices were largely on account of positive data from the china indicating demand for the red metal to increase. Additionally, decline in the LME inventories of the red metal also pushed prices upwards. In the domestic markets MCX copper prices are trading higher taking cues from strength in the international markets and depreciation in the Indian rupee. NYMEX crude oil prices are trading 0.5 percent higher due to cease fire called by the Israel and Palestinian leaders which could restore the supplies from the Middle East. In the domestic markets depreciation in the Indian rupee is acting as a supportive factor for MCX crude oil prices.

Kospi FTSE

as at 4.30 pm 22 November12
Currency Dollar Index Euro/$ Spot INR/$ Spot Open 80.98 1.2827 55.08 High 81.30 1.2872 55.285 Low 80.945 1.2824 55.00 Current 80.966 1.2861 55.25 % Chg from Prev day -0.04 0.26 0.25
Source: Reuters

as at 4.30 pm 22 November12
Commodity Spot Gold Comex Gold Dec12 MCX Gold Dec12 Spot Silver Comex Silver Dec12 MCX Silver Dec12 Crude Oil Nymex Jan 12 ICE -Brent Crude Oil MCX Crude Oil Dec 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

1728.53 1728.5 31799 33.33 33.36 62065 87.67 110.97 4828 7735.00 426.15 1922.00 104.85 2159 118.85 16679 920.60 1938.00 106.05

1732.25 1732.5 31855 33.43 33.45 62212 87.77 111.17 4860 7751.50 428.35 1930.25 105.35 2163 119.35 16830 926.20 1945.00 106.55

1727.85 1728.2 31795 33.25 33.26 62060 87.28 110.31 4828 7717.25 426.15 1917.00 104.85 2154 118.85 16650 920.30 1935.00 106.05

1729.39 1729.6 31851 33.35 33.40 62203 87.28 110.56 4846 7747.00 428.30 1923.25 105.20 2160 119.20 16808 926.00 1941.00 106.50

0.05 0.06 0.12 0.06 -0.03 0.25 -0.49 -0.27 0.48 0.38 0.59 -0.30 0.33 0.02 0.29 0.94 1.00 0.23 0.28

Source: Reuters.

Commodities Evening Update

Thursday | November 22, 2012

International Commodities
Outlook

In the evening session, we expect precious and base metal prices to trade firm on account of positive global market sentiments resulting from favorable data from the China along with optimism that US might be able to resolve the fiscal cliff issue with the Congress law makers. Crude oil prices are expected to trade weak on account of cease fire called by the Israel and Palestinian leaders which would restore the supplies from the Middle East. Depreciation in the Indian rupee might support an upside in the commodities.

Technical Outook for evening session 22 November12 ( CMP as of 5.00 pm)

Commodity Gold Dec'12 Spot Gold Silver Dec12 Spot Silver Crude Oil Dec '12 Nymex Crude Oil Jan12 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 31708 1720 61725 32.97 4764 85.8 210.2 423.4 104.2 116.5 104.9 906 Support 1 31786 1726 61998 33.18 4817 86.75 213 425.5 104.6 117.65 105.5 914 CMP 31855 1730 62188 33.32 4849 87.31 215.3 428.3 105.25 119.3 106.6 926.3 Resistance1 31907 1734 62479 33.55 4900 88.25 217.2 429.85 105.6 119.75 107 928.6 Resistance 2 31985 1740 62752 33.76 4933 88.85 220 431.2 106 120.7 108 934

Important Events for Today

Indicator HSBC Flash Manufacturing PMI French Flash Manufacturing PMI French Flash Services PMI German Flash Manufacturing PMI German Flash Services PMI Flash Manufacturing PMI Flash Services PMI EU Economic Summit Spanish 10-y Bond Auction CBI Industrial Order Expectations Bank Holiday

Country CNY EU EU EU EU EU EU EU EU GBP US

Time (IST) 7:15 am 1:30 pm 1:30pm 2:00pm 2:00pm 2:00pm 2:30pm Day 1 Tentative 4:30pm All Day

Actual 50.4 44.7 46.1 46.8 48.0 46.2 45.7

Forecast

Previous 49.5

Impact High High Medium High Medium Medium Medium High

44.1 45.3 45.9 48.5 45.6 46.1

43.7 44.6 46.0 48.4 45.4 46.0

5.52|1.8 -21 -19

5.46|1.9 -23

High Medium