Commodity Premium Daily Journal

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Friday, 29th September 2017

Gold 29604
Silver 39736

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Market Wrapup
Thursday, 28th September 2017

Commodity Contract Open Price High Low Close Price

Gold 05-Oct-2017 29663 29686 29522 29658

Silver 05-Dec-2017 39734 39826 39551 39732

Crude Oil 18-Oct-2017 3424 3472 3360 3416

Natural Gas 26-Oct-2017 202.3 202.7 197.3 201.8

Copper 30-Nov-2017 426.3 433.4 424.2 425.95

Zinc 29-Sep-2017 206.75 209.8 205.8 207.05

Lead 29-Sep-2017 161 163 160.3 161.05

Aluminium 29-Sep-2017 138.15 138.75 137.1 138.15

Nickel 29-Sep-2017 674.8 683.3 666.4 670.4

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Support & Resistance
Friday, 29th September 2017

Commodity Contract RES-2 RES-1 PIVOT SUP.1 SUP.2

Gold 05-Oct-2017 29769.33 29688.67 29605.33 29524.67 29441.33

Silver 05-Dec-2017 39984.00 39867.00 39709.00 39592.00 39434.00

Crude Oil 18-Oct-2017 3513.67 3443.33 3401.67 3331.33 3289.67

Natural Gas 26-Oct-2017 204.83 201.57 199.43 196.17 194.03

Copper 30-Nov-2017 438.98 435.37 429.78 426.17 420.58

Zinc 29-Sep-2017 212.28 210.77 208.28 206.77 204.28

Lead 29-Sep-2017 164.68 163.67 161.98 160.97 159.28

Aluminium 29-Sep-2017 139.73 139.07 138.08 137.42 136.43

Nickel 29-Sep-2017 693.20 686.20 676.30 669.30 659.40

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MCX Outlook
Friday, 29th September 2017

Natural Gas prices arent going anywhere fast

With the recent crude oil rally that brought WTI to a five-month high, its only fitting to have a look at whats happening with natural gas.
By the looks of it, nothing much that would make producers happy.

U.S. natural gas is selling at historically low prices, with forecasts for the near term suggesting no significant change as production
continues to grow. In its latest Short-Term Energy Outlook, the EIA forecast that natural gas output this year will average 73.7 billion cubic
feet daily, up by 1.4 billion cubic feet per day from last year. The Henry Hub spot benchmark price should average $3.05 per MMBtu this
year and, driven by an increase in domestic consumption, rise to $3.29 per MMBtu in 2018.

Thats not a very significant increase from a producers perspective, but if they continue to lower production costs, it might become
significant enough to spur more exports, which would, in turn, have further positive impact on prices. But how likely is this?

Canadian Gold explorer expected to garner interest as 'M&A target'

Victoria Gold Corp. (VIT:TSX.V) announced multiple results from its 100%-owned Dublin Gulch gold property in the Yukon with back to
back news releases on Sept. 18 and Sept. 19.

In the Sept. 19 press release, Victoria Gold announced the first assays received from the "2017 Bluto target surface trench exploration
program. TR17-16 was the first major trench constructed at the Bluto target this season and was concentrated on a trail built with heavy
equipment to access a water source that would be utilized in the planned 2017 Bluto diamond drilling exploration program."

"The fact that a high-grade gold vein was discovered early in this campaign demonstrates that our Potato Hills Trend mineralization model
is working and we look forward to the first ever drill results from this highly prospective area," noted John McConnell, president and CEO
of Victoria Gold.

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Market News
Friday, 29th September 2017

Special News
Gold Prices Dip In Asia With India In Focus As China Holidays Ahead
Gold prices fell slightly in Asia on Friday as investors looked for support from physical markets in
India with China entering a week-long holiday period next month and trade expected to ease.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange slid
0.06% to $1,287.88 a troy ounce.

India's festival season gets in swing next month with demand for physical gold typically strong.

Overnight, gold prices were roughly unchanged on Thursday, as dollar weakness capped downside momentum but the precious metal
remained under pressure amid investor expectations of a year-end interest rate hike.

Crude Oil Prices Edge Higher In Asia, U.S. Rig Count Ahead
Crude oil prices edged higher on Friday in Asia with sentiment underpinned by an ongoing rebalance
of supply and demand and geopolitical tensions over rumblings for Kurdish independence in Iraq.

As well, investors await the Baker Hughes rig count later on Friday for the weekly update on the
number of U.S. rigs drilling for oil.

On the New York Mercantile Exchange crude futures for November delivery rose 0.04% to $51.58 a barrel, while on London's

Intercontinental Exchange, Brent edged up 0.02% to $57.27 a barrel.

Overnight, crude oil prices settled lower on Thursday as traders unwound some of their bullish bets on crude but sentiment on oil remained
positive following inventory data on Wednesday showing a surprise draw in crude oil supplies.

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Market News
Friday, 29th September 2017

Commodity Buzz
Aluminium market under short covering; Support seen at 137.5
Technically Aluminium market is under short covering as market has witnessed drop in open interest by 2.98% to settled at 1988 while
prices up 0.6 rupees.
Now Aluminium is getting support at 137.5 and below same could see a test of 136.8 levels and resistance is now likely to be seen at
139.1, a move above could see prices testing 140.

Aluminium on MCX settled up 0.44% at 138.15 as some have exaggerated impacts from environmental protection policies, thus inflating
market prices. U.S. consumer confidence fell in September and home sales dropped to an eight-month low in August due to the impact of
Hurricanes Harvey and Irma.

Nickel market under long liquidation; Resistance seen at 686.9

Technically Nickel market is under long liquidation as market has witnessed drop in open interest by 10.49% to settle at 13340 while prices
down 9.2 rupees.

Now Nickel is getting support at 659.8 and below same could see a test of 649.1 levels and resistance is now likely to be seen at 686.9, a
move above could see prices testing 703.3.

Nickel on MCX settled down 1.35% at 670.4 tracking 2.2% drop in LME prices as positions were closed ahead of the end of the third
quarter and before the start of a week-long holiday in China next week.
Premiums for nickel in Shanghai bonded warehouses surged by $55 to $295 a tonne, suggesting some short holders may be rushing to
cover ahead of a Chinese holiday next week.

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Analyst Speaks
Friday, 29th September 2017

Gold MCX

Technically Gold market is under long liquidation as market has RESISTANCE 2 29769.33
witnessed drop in open interest by 4.42% to settled at 4343 while
prices down 214 rupees.
RESISTANCE 1 29688.67
Now MCX Gold is getting support at 29524.67 and below same could
see a test of 29441.33 levels and resistance is now likely to be seen
PIVOT 29605.33
at 29769.33 a move above could see prices testing 29688.67.

SELL GOLD OCT AROUND 29620-29600 SUPPORT 1 29524.67

TGTS: 29500/ 29400 SL 29720
SUPPORT 2 29441.33

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Analyst Speaks
Friday, 29th September 2017

CRUDE OIL MCX

Technically Crude oil market is under fresh buying as market has RESISTANCE 2 3513.67
witnessed gain in open interest by 1.08% to settled at 15103 while
prices up 14 rupees.
RESISTANCE 1 3443.33
Now Crude oil is getting support at 3331.33 and below same could
see a test of 3289.67 levels and resistance is now likely to be seen PIVOT 3401.67
at 3513.67 a move above could see prices testing 3443.33.

SELL CRUDE OILOCT AROUND 3385-3390 SUPPORT 1 3331.33

TGTS 3355/3325 SL 3415
SUPPORT 2 3289.67

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Todays Economic Events
Friday, 29th September 2017

COUNTRY TIME EVENT ACTUAL FORECAST PREVIOUS

6:00pm Core PCE Price Index m/m 0.2% 0.1%

USD Personal Spending m/m 0.1% 0.3%

7:15pm Chicago PMI 58.6 58.9

7:30pm Revised UoM Consumer Sentiment 95.3 95.3

8:30pm FOMC Member Harker Speaks

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