Commodity Premium Daily Journal

Strictly For Client Circulation

Tuesday, 3rd October 2017

Gold 29500
Silver 39314

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Market Wrapup
Friday, 29th September 2017

Commodity Contract Open Price High Low Close Price

Gold 05-Oct-2017 29604 29671 29526 29608

Silver 05-Dec-2017 39736 39864 39309 39750

Crude Oil 18-Oct-2017 3400 3400 3356 3373

Natural Gas 26-Oct-2017 197.6 199.7 196.3 198.3

Copper 30-Nov-2017 430.95 433.35 426.75 431.75

Zinc 31-Oct-2017 206.6 208 206.1 207.5

Lead 31-Oct-2017 162.7 164.5 161.85 162.8

Aluminium 31-Oct-2017 138.55 139.1 136.8 138.95

Nickel 31-Oct-2017 684.5 708.3 680.1 686

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Support & Resistance
Tuesday, 3rd October 2017

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

Gold 05-Oct-2017 29729.67 29643.33 29584.67 29498.33 29439.67

Silver 05-Dec-2017 40098.33 39777.66 39543.33 39222.66 38988.33

Crude Oil 18-Oct-2017 3420.33 3396.67 3376.33 3352.67 3332.33

Natural Gas 26-Oct-2017 201.53 199.97 198.13 196.57 194.73

Copper 30-Nov-2017 435.95 431.95 429.35 425.35 422.75

Zinc 29-Sep-2017 211.32 209.98 208.92 207.58 206.52

Lead 29-Sep-2017 165.53 164.52 163.38 162.37 161.23

Aluminium 29-Sep-2017 139.23 138.52 138.03 137.32 136.83

Nickel 29-Sep-2017 696.90 687.80 680.70 671.60 664.50

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MCX Outlook
Tuesday, 3rd October 2017

Nickel market under short covering; Support seen at 669.3

Technically market is under short covering as market has witnessed drop in open interest by 22.89% to settled at 10286 while prices up
8.8 rupees.

Now Nickel is getting support at 669.3 and below same could see a test of 659.4 levels and resistance is now likely to be seen at 686.2, a
move above could see prices testing 693.2.

Nickel on MCX settled up 1.31% at 679.2 buoyed by expectations of strong demand in top industrial metals consumer China. Premiums
for metal in China bonded zones surged another $55 to $350, and are now up $110 in two days, suggesting a party is urgently seeking
metal.

Nickel market under short covering; Support seen at 669.3

Technically market is under short covering as market has witnessed drop in open interest by 22.89% to settled
at 10286 while prices up 8.8 rupees.

Now Nickel is getting support at 669.3 and below same could see a test of 659.4 levels and resistance is now
likely to be seen at 686.2, a move above could see prices testing 693.2.

Nickel on MCX settled up 1.31% at 679.2 buoyed by expectations of strong demand in top industrial metals
consumer China. Premiums for metal in China bonded zones surged another $55 to $350, and are now up
$110 in two days, suggesting a party is urgently seeking metal.

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Market News
Tuesday, 3rd October 2017

Special News
Gold Prices Dip In Asia On Stronger Dollar And Weak China Demand
Gold prices dipped in Asia as overnight dollar gains extended into the region, making the greenback den
ominated commodity more expensive and with demand weak as China markets are shut for a week-long
holiday.
Gold futures for December delivery on the Comex division of the New York Mercantile Exchange fell
0.21% to $1,273.15 a troy ounce. The dollar index rose 0.22% to 93.69 in Asia.
Overnight, gold prices fell to seven week lows amid a dip in safe-haven demand after manufacturing data topped expectations pushing
yields and the dollar to session highs.
Gold futures made a weak start to the month added to losses from the previous week as investors continued unwind their bullish bets on
gold after upbeat manufacturing data pointed to underlying strength in the U.S. economy.

Oil prices fall for second day on oversupply concerns

Oil prices fell on Tuesday, declining for a second day and sapping more strength from a third-quarter
rally, amid signs that a global glut in crude may not be clearing as quickly as some had hoped.
U.S. crude (CLc1) was down 14 cents, or 0.3 percent, at $50.44 a barrel by 0149 GMT, after closing
the previous session down $1.09, or 2.1 percent.
The U.S. benchmark posted a third quarter gain of around 12 percent, its strongest quarterly climb since the second quarter of 2016, but
has now dropped nearly 5 percent from a six-month high reached on Thursday.
Brent crude (LCOc1), the global benchmark, was down 19 cents, or 0.3 percent, at $55.93 a barrel. The contract fell 67 cents, or
1.2 percent, in the last session.

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Market News
Tuesday, 3rd October 2017

Commodity Buzz
Analyst reiterates outperform rating for Canadian Gold miner operating in Ghana
Raymond James analyst Chris Thompson reported on Asanko Gold Inc.'s (AKG:NYSE.MKT; AKG:TSX) progress at its Asanko gold mine in
Ghana."AKG is on track to meet its revised production guidance for the year (revised lower in August due to lower than expected ore
volumes in the near-surface portion of the Akwasiso satellite deposit).

Grade reconciliation at the main Nkran pit has been improving," wrote Thompson. He noted that "AKG confirmed it is on track to meet its
revised 2017 production guidance of 205-225 koz Au (revised down from 230-240 koz on Aug. 3), which compares with our full-year 2017
production estimate of 214 koz."

Thompson detailed that "reconciliation of the grade control model [Nkran pit] has been positive relative to the reserve model, showing 9%
fewer tonnes and 18% higher grades (net 7% more ounces) for the last three months of mining

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.

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Analyst Speaks
Tuesday, 3rd October 2017

Gold MCX

Technically Gold market is under long liquidation as market has RESISTANCE 2 29729.67
witnessed drop in open interest by 4.42% to settled at 4343 while
prices down 214 rupees.
RESISTANCE 1 29643.33
Now MCX Gold is getting support at 29498.33 and below same could
see a test of 29439.67 levels and resistance is now likely to be seen
PIVOT 29584.67
at 29643.33 a move above could see prices testing 29729.67.

SELL GOLD DEC AROUND 29550-29570 SUPPORT 1 29498.33

TGTS 29400/29300 SL 29700

SUPPORT 2 29439.67

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Analyst Speaks
Tuesday, 3rd October 2017

CRUDE OIL MCX

Technically Crude oil market is under fresh buying as market has RESISTANCE 2 3420.33
witnessed gain in open interest by 1.08% to settled at 15103 while
prices up 14 rupees.
RESISTANCE 1 3396.67
Now Crude oil is getting support at 3332.33 and below same could
see a test of 3352.67 levels and resistance is now likely to be seen
PIVOT 3376.33
at 3396.67 a move above could see prices testing 3420.33.

BUY CRUC OIL OCT AROUND 3300-3305 SUPPORT 1 3352.67

TGTS 3340/3380 SL 3270

SUPPORT 2 3332.33

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Todays Economic Events
Tuesday, 3rd October 2017

COUNTRY TIME EVENT ACTUAL FORECAST PREVIOUS

USD 6:00pm FOMC Member Powell Speaks

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