Commodities Evening Update

Monday | May 20, 2013

International Commodities

Content
Days overview Market Highlights Outlook Important Events for Today

Research Team
Vedika Narvekar - Sr. Research Analyst vedika.narvekar@angelbroking.com (022) 2921 2000 Extn :6130 Saif Mukadam Research Analyst saif.mukadam@angelbroking.com (022) 2921 2000 Extn :6136 Anish Vyas - Research Analyst anish.vyas@angelbroking.com (022) 2921 2000 Extn :6104

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Commodities Evening Update

Monday | May 20, 2013

International Commodities
News and Analysis US Dollar Index declined by 0.27 percent. Indian Rupee depreciated by 0.40 percent. European markets are trading higher on the optimism of global growth. Asian markets ended on positive note. US stock futures are trading mixed. Spot gold prices declined by 0.33 percent today on the back of rise in risk appetite in the global market sentiments led to decline in demand for the safe haven. Further, expectations among the investors that the US may start trimming its bond buying purchasing programme added downside pressure on the prices. However, weakness in DX cushioned sharp fall in the prices. The yellow metal touched an intra-day low of $1338.95/oz and was trading at $1354.16/oz today till 4:30pm IST. In the Indian markets, depreciation in the Indian Rupee prevented sharp downside in the prices. Taking cues from fall in spot gold prices coupled with downside in the base metal packs, Spot silver prices decreased by 2.56 percent today. However, sharp downside in the prices was prevented on account of weakness in DX coupled with optimistic global market sentiments. On the MCX, prices declined by 3.04 percent today but depreciation in the Indian Rupee cushioned sharp fall in the white metal prices. The base metals pack traded on a negative note on the back of worries over Chinas economic growth. Further, fears among the investors that the US may start trimming its bond buying purchasing programme acted as a negative factor for the prices. However, sharp downside in the prices was cushioned on the back of weakness in DX along with rise in risk appetite in the global market sentiments. In the Indian markets depreciation in the Rupee prevented sharp decline in the prices. Copper, the leader of the base metals group decreased by 0.11 percent today on the back of rise in worries over Chinas economic growth. However, weakness in DX coupled with rise in risk appetite in the global market sentiments cushioned sharp downside in the prices. Additionally, decline in LME inventories by 0.3 percent cushioned sharp fall in the prices. In the Indian markets, depreciation in Rupee prevented sharp downside in the prices. Nymex crude oil prices fell by 0.49 percent today on the back of rise in worries over chinas economic growth coupled with weaker outlook for fuel demand. However, weakness in DX along with upbeat global market sentiments cushioned sharp decline in the prices. Further, ongoing tension in Syria prevented sharp downside in the prices. In the Indian markets, depreciation in the Indian Rupee cushioned sharp fall in the prices. Performance during the day
Index Nifty Sensex Nikkei Kospi FTSE Open High

as at 4.30 pm 20 May 13
Low Last % Chg from Prev day

6198.00 20277.76 15260.61 1990.36 17459.52

6229.45 20443.62 15381.74 1991.27 17514.89

6146.05 20186.66 15245.80 1982.43 17425.31

6156.90 20223.98 15360.81 1982.43 17425.31

-0.49 -0.31 1.47 -0.22 0.10

Source: Reuters

as at 4.30 pm 20 May 13
Currency Dollar Index Euro/$ Spot INR/$ Spot Open High Low Current % Chg from Prev day

84.24 1.2809 55.05

84.40 1.2878 55.135

84.04 1.2802 54.948

84.16 1.2861 55.10

-0.27 0.18 0.40

Source: Reuters

as at 4.30 pm 20 May 13
Commodity Spot Gold Comex Gold June13 MCX Gold June13 Spot Silver Comex Silver July13 MCX Silver July13 Crude Oil Nymex June 13 ICE -Brent Crude Oil MCX Crude Oil May 13 Copper LME - 3 Month MCX Copper June13 Zinc LME - 3 Month Zinc MCX - May13 Lead LME - 3 Month Lead MCX - May13 Nickel LME - 3 Month Nickel MCX May13 Aluminum LME - 3 Month Aluminum MCX May13 Unit Open High Low Last % Chg from Prev day

$/oz $/oz Rs/10 gms $/oz $/oz

1359.45 1342.90 25790.00 22.23 28.23 42550 95.93 104.75 5291 7280.00 405.00 1839.50 100.10 2014 110.40 14820 813.20 1853.00 100.80

1362.10 1348.00 25790.0 22.30 22.28 42550 96.26 104.80 5291 7330.00 405.00 1842.00 100.30 2015 111.00 14877 816.80 1853.00 100.90

1338.95 1342.90 25373.0 20.84 21.01 40749 95.33 103.98 5245 7232.25 400.20 1825.00 99.40 1989 109.30 14750 810.60 1836.50 100.10

1354.16 1348.00 25525.00 21.66 21.26 41335 95.55 104.17 5257 7302.25 403.60 1841.75 100.20 2005 109.95 14859 814.80 1846.75 100.70

-0.33 -1.24 -1.20 -2.56 -4.83 -3.04 -0.49 -0.45 -0.85 -0.11 -0.49 0.00 -0.15 -0.45 -0.63 0.20 -0.05 -0.44 -0.44

Rs/kg $/bbl

$/bbl Rs/bbl $/tonne Rs/kg $/tonne Rs/kg $/tonne

Rs/kg $/tonne Rs/kg $/tonne Rs/kg

Source: Reuters

Commodities Evening Update

Monday | May 20, 2013

International Commodities
Outlook In the evening session we expect precious metal, base metal and crude oil prices to trade on the negative note on the back of rise in worries over Chinas economic growth. Further, fears among the investors that the US may start trimming its bond buying purchasing programme which may add downside pressure on the prices. However, weakness in DX coupled with rise in risk appetite in the global market sentiments may cushion sharp downside in the prices.

Technical Outook for evening session 20 May 13 ( CMP as of 5.00 pm)

Commodity Gold June'13 Spot Gold Silver July13 Spot Silver Brent Crude June13 Crude Oil May13 Nymex Crude Oil June13 Natural Gas May13 LME Copper Copper June13 Zinc May13 Lead May13 Aluminum May13 Nickel May13 Unit Rs/10 gm $/oz Rs /kg $/oz $/bbl Rs /bbl $/bbl Rs /mmBtu $/tonne Rs /kg Rs /kg Rs /kg Rs /kg Rs /kg Support 2 25130 1321 40107 20.68 5702 5243 94.9 222.5 7170 397.2 98.65 108.35 99.65 804 Support 1 25311 1335 40562 21.03 5734 5273 95.45 224.5 7240 400.2 99.35 109.2 100.1 809.5 CMP 25564 1354.3 41425 21.67 5745 5302 95.95 227 7299 404.65 100.45 110.4 100.75 818.2 Resistance1 25680 1365 41979 22.12 5779 5353 96.9 229.2 7370 408.6 101 111.6 101.45 822 Resistance 2 25901 1382 42473 22.5 5810 5397 97.7 231 7435 412.2 101.5 112.5 102 827

Important Events for Today

Indicator French Bank Holiday German Bank Holiday FOMC Member Evans Speaks Country Europe Europe US Time (IST) All Day All Day 10:30pm Actual Forecast Previous Impact Medium