Commodity Premium Daily Journal

Strictly For Client Circulation

Friday, 6th October 2017

Gold 29361
Silver 39140

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Market Wrapup
Thursday, 5th October 2017

Commodity Contract Open Price High Low Close Price

Gold 05-Dec-2017 29414 29500 29370 29372

Silver 05-Dec-2017 39049 39320 39005 39165

Crude Oil 18-Oct-2017 3260 3340 3255 3310

Natural Gas 26-Oct-2017 192.5 195.4 191.1 192.4

Copper 30-Nov-2017 428 439.8 427.55 439.15

Zinc 31-Oct-2017 214.65 217.4 214.5 216.75

Lead 31-Oct-2017 165.55 169.2 165.35 168.8c

Aluminium 31-Oct-2017 139.8 140.7 139.05 140.55

Nickel 31-Oct-2017 692.7 697.2 685 689.8

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Support & Resistance
Friday, 6th October 2017

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

Gold 05-Dec-2017 29479.00 29408.00 29359.00 29288.00 29239.00

Silver 05-Dec-2017 39480.67 39326.34 39165.67 39011.34 38850.67

Crude Oil 18-Oct-2017 3387.67 3350.33 3302.67 3265.33 3217.67

Natural Gas 26-Oct-2017 197.33 194.97 193.03 190.67 188.73

Copper 30-Nov-2017 447.90 443.75 435.65 431.50 423.40

Zinc 31-Oct-2017 219.15 218.00 216.25 215.10 213.35

Lead 31-Oct-2017 171.67 170.28 167.82 166.43 163.97

Aluminium 31-Oct-2017 141.78 141.22 140.13 139.57 138.48

Nickel 31-Oct-2017 703.03 696.67 690.83 684.47 678.63

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MCX Outlook
Friday, 6th October 2017

Aluminium market under fresh buying; Resistance seen at 140.6

Technically Aluminium market is under fresh buying as market has witnessed gain in open interest by 3.91% to settled at 4726 while prices
up 0.3 rupees.

Now MCX Aluminium is getting support at 139 and below same could see a test of 138.1 levels and resistance is now likely to be seen at
140.6, a move above could see prices testing 141.3.

Aluminium on MCX settled up 0.21% at 139.95 on expectations of widespread capacity shutdowns during winter. Chinas crackdown on
pollution has helped boost aluminium prices by 27 percent this year.

Physical base metals premiums mostly strengthened or remained stable this week as contract talks for 2018 are beginning to take place.
US aluminium premiums have increased for the sixth straight week as a lack of truck availability and rising freight concerns continued to
boost the market.

CX Nickel likely to trade in a range between 674.5-714.9

Technically Nickel market is getting support at 681.7 and below same could see a test of 674.5 levels and resistance is now likely to be
seen at 701.9, a move above could see prices testing 714.9.

Nickel on MCX settled down 1.75% at 688.90 tracking weakness from LME Nickel which fell 0.05 percent to settled at $10615 while on
MCX prices moved further down as pressure seen after rupee strengthened 0.80%, to its biggest gain in seven months, against the dollar
RBI kept key rates unchanged as expected.

The nickel market is waiting to see what the new Philippine environment secretary, Roy Cimatu, has in store for the country's mining
industry. His predecessor had ordered 26 of 41 mines in the world's top nickel ore supplier be shut or suspended to protect water resources.

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Market News
Friday, 6th October 2017

Special News
Oil markets wary as another tropical storm heads for Gulf of Mexico
Oil markets were cautious on Friday as traders monitored a tropical storm heading for the Gulf of Mexico
and as China remained closed for a week-long public holiday.

But the prospect of extended oil production cuts by the Organization of the Petroleum Exporting Countries
(OPEC) and other producers led by Russia helped support prices.

U.S. West Texas Intermediate (WTI) crude (CLc1) was trading at $50.76 per barrel at 0333 GMT, down 3 cents from its last close. Brent
crude (LCOc1) was down 4 cents at $56.96 a barrel.

Activity was subdued due to the Golden Week holiday in China and because traders were monitoring tropical storm Nate, which has
triggered U.S. Gulf production and refinery closures just weeks after several hurricanes pummeled the region.

Gold Prices Down In Asia As Market Looks Ahead To US Nonfarm Payrolls

Gold prices dipped in Asia on Friday as investors awaited nonfarm payrolls in the U.S. even thought he data
will likely be widely skewed by the effects of hurricanes in Texas and Florida.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange dipped
0.13% to $1,271.51 a troy ounce.

Overnight, gold prices traded below breakeven on Thursday, as a raft of better-than expected economic data pointed to solid U.S. economic
growth underpinning a move higher in the dollar.

An uptick in the dollar on signs that the U.S. economy is strengthening pressured gold prices which were on track for a fourth weekly loss
ahead of a nonfarm payrolls due Friday

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Market News
Friday, 6th October 2017

Commodity Buzz
Support seen at 687.9 for MCX Nickel; Market under short covering
Technically Nickel market is under short covering as market has witnessed drop in open interest by 1.97% to settled at 15352 while prices
up 12.9 rupees.

Now MCX Nickel is getting support at 687.9 and below same could see a test of 674.6 level, And resistance is now likely to be seen at
710.5, a move above could see prices testing 719.8.

Nickel on MCX settled up 1.87% at 701.20 managed to hold above 700 levels again on short-covering as support seen amid mounting
supply concerns in China.

The market was still digesting the impact of China's environmental crackdown on ageing metals and mining operations on its future imports.
Yesterday Three-month nickel on the London Metal Exchange rose 1 percent to $10,725 a tonne, extending a 2.2 percent gain from the
previous session.

Aluminium market under fresh buying; Support seen at 137.9

Technically Aluminium market is under fresh buying as market has witnessed gain in open interest by 10.82% to settled at 4548 while
prices up 2.7 rupees.

Now MCX Aluminium is getting support at 137.9 and below same could see a test of 136.1 levels and resistance is now likely to be seen
at 140.7, a move above could see prices testing 141.7.

Aluminium on MCX settled up 1.97% at 139.65 as investors waited for evidence that an environmental crackdown in China would cut
output. Cities in China's eastern province of Anhui are issuing plans to curb production in the steelmaking, non-ferrous smelting, cement
and coal-fired power sectors over the coming winter in a drive to meet a politically crucial air pollution target.
Thompson detailed that "reconciliation of the grade control model 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 (Jun-Aug).

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Analyst Speaks
Friday, 6th October 2017

Gold MCX

Technically Gold market is under long liquidation as market has RESISTANCE 2 29479.00
witnessed drop in open interest by 4.42% to settled at 4343 while
prices down 214 rupees.
RESISTANCE 1 29408.00
Now MCX Gold is getting support at 29288.00 and below same could
see a test of 29239.00 levels and resistance is now likely to be seen 29359.00
at 29479.00 a move above could see prices testing 29408.00.
PIVOT

SELL GOLD DEC AROUND 29400-29380 SUPPORT 1 29288.00

TGTS 29280/29150 SL 29500

SUPPORT 2 29239.00

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Analyst Speaks
Friday, 6th October 2017

CRUDE OIL MCX

Technically Crude oil market is under fresh buying as market has RESISTANCE 2 3387.67
witnessed gain in open interest by 1.08% to settled at 15103 while
prices up 14 rupees.
RESISTANCE 1 3350.33
Now Crude oil is getting support at 3265.33 and below same could
see a test of 3217.67 levels and resistance is now likely to be seen PIVOT 3302.67
at 3387.67 a move above could see prices testing 3350.33.

BUY CRUDE OIL OCT AROUND 3300-3305 SUPPORT 1 3265.33

TGTS 3335/3365 SL 3270

SUPPORT 2 3217.67

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Todays Economic Events
Friday, 6th October 2017

COUNTRY TIME EVENT ACTUAL FORECAST PREVIOUS

6:00pm Average Hourly Earnings m/m 0.3% 1.1%

Non-Farm Employment Change 82k 156k

USD Unemployment Rate 4.4% 4.4%

9:45pm FOMC Member Dudley Speaks

10:15pm FOMC Member Kaplan Speaks

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