Commodities Evening Update

Tuesday | August 13, 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

Angel Commodities Broking Pvt. Ltd. Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000 MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX : Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302

Disclaimer: The information and opinions contained in the document have been compiled from sources believed to be reliable. The company does not warrant its accuracy, completeness and correctness. The document is not, and should not be construed as an offer to sell or solicitation to buy any commodities. This document may not be reproduced, distributed or published, in whole or in part, by any recipient hereof for any purpose without prior permission from Angel Commodities Broking (P) Ltd. Your feedback is appreciated on commodities@angelbroking.com

Commodities Evening Update

Tuesday | August 13, 2013 News and Analysis

International Commodities
Performance during the day
Index Nifty Sensex Nikkei Open High

Gold and Silver import duty in India hiked to 10 percent each. German ZEW Economic Sentiment rose to 42-mark in August. European Economic Sentiment gained to 44-level in current month. European equities are trading higher today on the back of favorable economic data from the region. Asian markets ended on a positive note and US stock futures are trading in the green. Indian government increased Import duty on gold from 8 percent to 10 percent. Refined gold bars excise duty raised to 9 percent from earlier 7 percent. Similarly, import duty on silver hiked from 6 percent to 10 percent and refined silver ores excise duty shoot up to 8 percent from 4 percent. German ZEW Economic Sentiment rose by 5.7 points to 42-mark in August as compared to 36.3-level in July. Industrial Production grew by 0.7 percent in June with respect to decline of 0.3 percent a month ago. European ZEW Economic Sentiment gained by 11.2 points to 44level in current month when compared to 32.8-mark in July. UKs Consumer Price Index (CPI) fell to 2.8 percent in July as against a rise of 2.9 percent in June. Producer Price Index (PPI) Input rose by 1.1 percent in July from 0.2 percent a month ago. Retail Price Index (RPI) was at 3.1 percent in last month as compared to 3.3 percent in June. Spot gold prices declined around 0.6 percent today on the back of strength in the US Dollar Index (DX). However, recovery in SPDR gold holdings coupled with upbeat global market sentiments supported an upside in prices. In the Indian markets, appreciation in the Rupee capped sharp gains in prices on the MCX. Taking cues from rise in gold prices along with upside in base metals group, Spot silver prices rose by around 0.5 percent today. However, strength in the DX prevented sharp upside movement in prices. Appreciation in the Indian Rupee prevented sharp upside in prices on the MCX. The base metals complex traded on a higher note today on the back of favorable economic data from Euro Zone. Further, decline in LME inventories supported an upside in prices. However, strength in the DX restricted sharp upside in prices. In the Indian markets, appreciation in the Rupee prevented positive movement in prices on the MCX. Nymex crude oil prices are trading higher by 0.6 percent today on the back of expectations on decline in API crude oil inventories. Further, unrest in Middle East has led to supply concerns from region thereby acting as a positive factor. Appreciation in the Indian Rupee capped gains in prices on the MCX. The American Petroleum Institute (API) is scheduled to release its weekly inventories today and US crude oil inventories are expected to decline by 1.5 million barrels for the week ending on 9th August 2013.

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

5600.25 18895.26 13696.36 1893.42 17334.32

5704.75 19248.11 13867.00 1913.03 17404.88

5578.90 18864.81 13689.49 1890.78 17302.91

5699.30 19229.84 13867.00 1913.03 17302.91

1.55 1.49 2.57 1.50 0.36

Source: Reuters

Kospi FTSE

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

81.52 1.3298 61.06

81.66 1.3316 61.66

81.435 1.328 60.884

81.62 1.3297 61.11

0.30 -0.01 0.00

Source: Reuters

as at 4.30 pm 13 August 13
Commodity Spot Gold Comex Gold Aug13 MCX Gold Oct13 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 - Aug13 Lead LME - 3 Month Lead MCX - Aug13 Nickel LME - 3 Month Nickel MCX Aug13 Aluminum LME - 3 Month Aluminum MCX Aug13 Unit Open High Low Last % Chg from Prev day

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

1336.29 1331.90 28985.00 21.37 0.2147 45999 106.15 109.08 6505 7276.75 448.00 1942.50 117.55 2195 134.20 14750 904.50 1886.00 113.85

1341.11 1339.10 29333.0 21.76 0.2166 47166 107.20 109.96 6550 7354.75 451.50 1962.00 118.20 2205 134.90 14930 914.40 1898.50 114.20

1326.34 1330.00 28720.0 21.11 0.21265 45267 105.95 108.95 6505 7241.25 446.20 1932.00 116.80 2181 133.50 14750 904.50 1875.75 112.90

1327.56 1330.00 28939.00 21.45 0.21645 46346 106.70 109.56 6532 7336.00 450.75 1957.75 117.80 2200 134.25 14918 911.30 1894.50 113.95

-0.62 -0.35 0.06 0.47 1.47 1.06 0.56 0.54 0.69 0.95 0.79 0.73 0.26 0.30 0.15 1.24 1.10 0.37 0.26

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

Tuesday | August 13, 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 market sentiments. Further, favorable economic data from the Euro Zone coupled with expectations of positive economic data from the US will support an upside in prices. In the Indian markets, hike in import duty by the government on gold and silver has led to appreciation in the Rupee thereby restricting gains in prices.

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

Commodity Gold Oct'13 Spot Gold Silver Sept13 Spot Silver Crude Oil Aug13 Nymex Crude Oil Aug13 Natural Gas Aug13 LME Copper Copper Aug13 Zinc Aug13 Lead Aug13 Aluminum Aug13 Nickel Aug13 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 28650 1312 45450 20.82 6440 105.3 198 7180 444 115.9 132.2 111.8 889 Support 1 28800 1321 45800 21.1 6480 105.9 201 7240 446 116.8 133.2 112.9 900 CMP 28920 1327.8 46222 21.45 6534 106.82 202.7 7342 450.05 117.8 134.2 113.95 910.5 Resistance1 29080 1347 46700 21.78 6570 107.3 206 7370 452 118.6 135.1 114.8 917 Resistance 2 29340 1360 47200 22.1 6610 107.9 209 7430 455 119.7 136.2 115.5 925

Important Events for Today

Indicator Country Time (IST) Actual Forecast Previous Impact

Core Machinery Orders m/m Monetary Policy Meeting Minutes CPI y/y PPI Input m/m RPI y/y German ZEW Economic Sentiment Industrial Production m/m ZEW Economic Sentiment Core Retail Sales m/m Retail Sales m/m Import Prices m/m Business Inventories m/m

Japan Japan UK UK UK Euro Euro Euro US US US US

5:20am 5:20pm 2:00pm 2:00pm 2:00pm 2:30pm 2:30pm 2:30pm 6:00pm 6:00pm 6:00pm 7:30pm

-2.7% 2.8% 1.1% 3.1% 42.0 0.7% 44.0 -

-7.1% 2.8% 1.2% 3.1% 40.3 1.1% 37.4 0.4% 0.2% 0.9% 0.3%

10.5% 2.9% 0.2% 3.3% 36.3 -0.3% 32.8 0.0% 0.4% -0.2% 0.1%

Medium Medium High Medium Medium High Medium Medium High High Medium Medium