Commodities Evening Update

Monday | July 22, 2013

International Commodities

Content
Days overview Market Highlights Outlook Important Events for Today

Research Team
Reena Rohit Chief Manager Non-Agri Commodities and Currencies Reena.rohit@angelbroking.com (022) 2921 2000 Extn :6134 Anish Vyas Research Analyst anish.vyas@angelbroking.com (022) 2921 2000 Extn :6104

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Commodities Evening Update

Monday | July 22, 2013

International Commodities
News and Analysis European equities trading higher & US stock futures positive today. US existing home sales data expected to come on a favorable note. LME copper inventories fell around 0.6 percent in todays trade. European equities are trading higher today ahead of the US existing home sales data. Asian markets ended on a positive note and US stock futures trading in the green. Spot gold prices increased around 1.6 percent today on the back of weakness in the US Dollar Index (DX). Further, upside in the global market sentiments also supported an upside in prices. The yellow metal touched an intra-day high of $1322.50/oz and hovered around $1316.90/oz today till 4:30pm IST. In the Indian markets, depreciation in the Rupee supported an upside in prices on the MCX. Taking cues from rise in gold prices along with upside in base metals complex, Spot silver prices gained around 2.4 percent today. Further, weakness in the DX acted as a positive factor for prices. The white metal touched an intra-day high of $20.02/oz and was trading at $19.92/oz till 4:30pm IST today. Depreciation in the Rupee supported an upside in prices on the MCX. The base metals complex traded on a positive note on the back of expectations of favorable economic data from US coupled with upbeat global market sentiments. Further, weakness in the DX supported an upside in prices. However, sharp upside in prices was capped as a result of mixed LME inventories. Depreciation in the Rupee acted as a positive factor for prices on the MCX. Copper, the leader of the base metals group increased more than 1 percent today on account of upbeat global markets coupled with estimates of favorable economic data from the US. Further, weakness in the DX along with fall in LME copper inventories around 0.6 percent and stood at 634,650 tonnes acted as a positive factor for prices. On the domestic front, depreciation in the Rupee supported an upside in prices on the MCX. Nymex crude oil prices increased around 0.5 percent on the back of weakness in the DX. Further, upbeat global market sentiments coupled with expectations of positive economic data from US acted as a positive factor. On the domestic bourses, depreciation in the Rupee acted as a positive factor for prices on the MCX. Performance during the day
Index Nifty Sensex Nikkei Kospi FTSE Open High

as at 4.30 pm 22 July 13
Low Last % Chg from Prev day

6009.75 20096.71 14770.02 1880.81 16150.34

6064.15 20264.90 14770.02 1894.41 16266.90

6004.25 20065.69 14514.29 1873.17 16122.75

6031.80 20159.12 14658.04 1880.35 16122.75

0.04 0.05 0.47 0.48 0.58

Source: Reuters

as at 4.30 pm 22 July 13
Currency Dollar Index Euro/$ Spot INR/$ Spot Open High Low Current % Chg from Prev day

82.70 1.3139 59.30

82.74 1.3192 59.65

82.365 1.3128 59.28

82.44 1.318 59.56

-0.33 0.29 0.39

Source: Reuters

as at 4.30 pm 22 July 13
Commodity Spot Gold Comex Gold Aug13 MCX Gold Aug13 Spot Silver Comex Silver Sept13 MCX Silver Sept13 Crude Oil Nymex Aug 13 ICE -Brent Crude Oil MCX Crude Oil Aug 13 Copper LME - 3 Month MCX Copper Aug13 Zinc LME - 3 Month Zinc MCX - July13 Lead LME - 3 Month Lead MCX - July13 Nickel LME - 3 Month Nickel MCX July13 Aluminum LME - 3 Month Aluminum MCX July13 Unit Open High Low Last % Chg from Prev day

$/oz $/oz

1296.54 1317.00

1322.50 1322.10 27188.0 20.02 0.19935 41298 108.70 108.66 6477 7002.00 419.30 1884.00 110.50 2056 121.80 14320 847.80 1850.00 107.80

1295.79 1317.00 26786.0 19.46 0.19525 40449 108.14 108.15 6425 6938.25 415.50 1864.25 109.20 2032 120.20 14185 840.10 1823.50 106.30

1316.90 1322.10 27162.00 19.92 0.1988 41231 108.61 108.42 6467 7000.00 419.25 1881.00 110.45 2053 121.70 14261 846.60 1845.00 107.80

1.63 2.23 1.71 2.36 2.22 2.17 0.52 0.32 0.53 1.16 1.08 0.88 0.91 0.53 0.75 0.57 0.91 1.07 1.22

Rs/10 gms $/oz $/oz

26786.00 19.46 0.19525

Rs/kg

40449
$/bbl

108.34
$/bbl

108.30
Rs/bbl

6425
$/tonne

6973.00
Rs/kg

415.50
$/tonne

1873.00
Rs/kg $/tonne

109.55 2046

Rs/kg

120.90
$/tonne

14209
Rs/kg

842.00
$/tonne

1831.00
Rs/kg

106.55

Source: Reuters

Commodities Evening Update

Monday | July 22, 2013

International Commodities
Outlook

In the evening session, we expect precious metals, base metals and crude oil prices to trade higher on the back of upbeat global markets. Further, weakness in the DX will support an upside in prices. Base metals complex will get upside support on account of estimates of favorable existing home sales data from US.

Technical Outook for evening session 22 July 13 ( CMP as of 4.30 pm)

Commodity Gold Aug'13 Spot Gold Silver Sept13 Spot Silver Crude Oil Aug13 Nymex Crude Oil Aug13 Natural Gas July13 LME Copper Copper Aug13 Zinc July13 Lead July13 Aluminum July13 Nickel July13 Unit Rs/10 gm $/oz Rs /kg $/oz Rs /bbl $/bbl Rs /mmBtu $/tonne Rs /kg Rs /kg Rs /kg Rs /kg Rs /kg Support 2 Support 1 CMP Resistance1 Resistance 2

26850 1292 40500 19.40 6390 107.1 218 6890 413 108.5 119.7 105.9 831

27000 1302 40850 19.65 6420 107.85 220 6930 415.5 109.1 120.5 106.7 837

27155 1317.5 41250 19.97 6468 108.45 222.6 6998 419.05 110.1 121.45 107.45 845.4

27220 1323 41400 20.08 6500 109.15 225 7040 421 110.9 122 108.2 850

27390 1336 41680 20.3 6550 110.05 227.5 7070 424 111.6 122.9 109 856

Important Events for Today

Indicator Country Time (IST) Actual Forecast Previous Impact

Existing Home Sales

US

7:30pm

5.27M

5.18M

High