Commodities Evening Update

Thursday | November 8, 2012

International Commodities

Content
Days overview Market Highlights Outlook Important Events for Today

Overview:

Research Team
Nalini Rao - Sr. Research Analyst nalini.rao@angelbroking.com (022) 2921 2000 Extn. 6135

Anish Vyas - Research Analyst anish.vyas@angelbroking.com (022) 2921 2000 Extn. 6104

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Commodities Evening Update

Thursday | November 8, 2012

International Commodities
News and Analysis German Trade Balance was at a surplus of 17 bn Euros in Sept. Japans Economy Watchers Sentiment fell to 39-mark in Oct. French Trade Balance was at a deficit of 5 bn Euros in Sept. Performance during the day
Index Nifty Open 5760.10 18779.74 8868.42 1912.64 15382.06 High 5760.10 18865.21 8891.08 1918.69 15393.02

as at 4.30 pm 8 November12
Low 5705.50 18736.83 8811.41 1905.62 15091.56 Last 5738.75 18846.26 8837.15 1914.41 15091.56 % Chg from Prev day -0.37 -0.30 -1.51 -1.19 -0.60
Source: Reuters

European equities are trading higher today on the back of Greek Prime Minister Antonis Samaras got support in Parliament to approve for the austerity measures along with better corporate earnings. Asian markets ended on a negative note and US stock futures are trading on a flat note. Japans Economy Watchers Sentiment declined by 2.2 points to 39-mark in October from previous rise of 41.2-level in September. German Trade Balance was at a surplus of 17 billion Euros in September as against a previous surplus of 18.1 billion Euros in August. French Trade Balance was at a deficit of 5 billion Euros in September from previous deficit of 5.3 billion Euros a month ago. Spot gold prices are trading on a flat note on the back of strength in the US Dollar Index (DX). However, sharp downside in the prices was cushioned as a result of rise in risk appetite in the global market sentiments. Depreciation in the Indian Rupee supported an upside in the yellow metal prices on the MCX. Taking cues from fall in gold prices along with downside in the base metals complex, Spot silver prices declined by 0.3 percent today. Additionally, strength in the DX also acted as a negative factor for the white metal prices. The base metals pack traded on a negative note on account of strength in the DX and mixed LME inventories. However, sharp downside in the prices was cushioned as a result of upbeat global market sentiments. Copper , the leader of the base metals group declined around 0.2 percent on account of strength in the DX. However, sharp downside in the prices was restricted on the back of positive global markets and decline in LME Copper inventories by 0.3 percent which stood at 244,850 tonnes. Nymex crude oil prices gained by 1 percent today taking cues from expectations that biggest decline in the current year which happened yesterday was exaggerated. However, sharp upside in the prices was capped on account of strength in the DX.

Sensex Nikkei Kospi FTSE

as at 4.30 pm 8 November12
Currency Dollar Index Euro/$ Spot INR/$ Spot Open 80.94 1.2769 54.20 High 81.11 1.278 54.6725 Low 80.825 1.2718 54.11 Current 81.025 1.2736 54.53 % Chg from Prev day 0.20 -0.27 0.61
Source: Reuters

as at 4.30 pm 8 November12
Commodity Spot Gold Comex Gold Dec12 MCX Gold Dec12 Spot Silver Comex Silver Dec12 MCX Silver Dec12 Crude Oil Nymex Dec 12 ICE -Brent Crude Oil MCX Crude Oil Nov 12 Copper LME - 3 Month MCX Copper Nov12 Zinc LME - 3 Month Zinc MCX - Nov12 Lead LME - 3 Month Lead MCX - Nov12 Nickel LME - 3 Month Nickel MCX Nov12 Aluminum LME - 3 Month Aluminum MCX Nov12 Unit Open High Low Last % Chg from Prev day

$/oz $/oz Rs/10g ms $/oz $/oz Rs/kg $/bbl $/bbl Rs/bbl $/tonne Rs/kg $/tonne Rs/kg $/tonne Rs/kg $/tonne Rs/kg $/tonne Rs/kg

1716.18 1715.90 31323.00 31.78 28.23 59240 84.52 106.92 4649 7614.00 416.50 1892.25 102.60 2180 119.40 15992 875.00 1925.00 104.50

1721.10 1716.60 31347.00 31.97 31.84 59697 85.39 107.93 4662 7644.00 417.15 1911.50 103.20 2185 119.60 16060 877.90 1927.75 104.75

1713.19 1715.90 31270.0 31.62 31.81 59240 84.51 106.85 4624 7571.00 413.50 1891.00 102.10 2167 118.45 15873 866.70 1910.75 104.05

1714.80 1715.90 31309.00 31.65 31.84 59375 85.29 107.80 4658 7588.00 415.25 1910.00 103.15 2176 119.10 15968 872.80 1912.50 104.15

-0.09 0.16 0.33 -0.35 0.60 0.21 1.01 0.92 0.32 -0.17 0.01 0.70 0.93 -0.01 0.04 -0.15 0.09 -0.29 -0.24

Commodities Evening Update

Thursday | November 8, 2012

International Commodities
Outlook In the evening session, we expect preciosumetals, base metals and crude oil prics to trade lower on the back of expectations of unfavorable economic data from the US and strength in the DX. However, sharp downside in the prices can cushion as a result of rise in risk appetite in the global market sentiments. However, if the US unemployment claims and Trade Balance doesnt come as per the expectations it can cushion sharp fall in the prices or even reversal in the markets.

Technical Outook for evening session 8 November12 ( CMP as of 5.00 pm)

Commodity Gold Dec'12 Spot Gold Silver Dec12 Spot Silver Crude Oil Nov '12 Nymex Crude Oil Dec12 Natural Gas Nov12 Copper Nov'12 Zinc Nov12 Lead Nov12 Aluminum Nov12 Nickel Nov12 Unit Rs/10 gm $/oz Rs /kg $/oz Rs /bbl $/bbl Rs /mmBtu Rs /kg Rs /kg Rs /kg Rs /kg Rs /kg Support 2 30960 1688 58320 30.90 4525 82.8 188.8 407 100.8 117.15 103.05 851 Support 1 31180 1704.6 59074 31.48 4580 83.82 191.6 411 101.9 118.15 103.7 861.5 CMP 31303 1715 59371 31.7 4657 85.2 193 415.2 103.15 119.2 104.2 872.7 Resistance1 31466 1727 60100 32.27 4690 85.8 195.2 418 103.8 119.9 104.95 879 Resistance 2 31610 1738 60620 32.67 4781 87.5 196.8 422.3 104.3 120.75 105.45 887

Important Events for Today

Indicator Core Machinery Orders m/m Current Account Asset Purchase Facility Official Bank Rate MPC Rate Statement Minimum Bid Rate ECB Press Conference Trade Balance Unemployment Claims Country Japan Japan UK UK UK Euro Euro US US Time (IST) 5:20am 5:20am 5:30pm 5:30pm Tentative 6:15pm 7:00pm 7:00pm 7:00pm Actual -4.3% -0.14T Forecast -1.9% 0.21T 375B 0.50% 0.75% -44.9B 373K Previous -3.3% 0.72T 375B 0.50% 0.75% -44.2B 363K Impact Medium Medium High High High High High High High