Beruflich Dokumente
Kultur Dokumente
Bullion Update
Reena Rohit Chief Manager Non-Agri Commodities and Currencies reena.rohit@angelbroking.com (022) 3935 8134
Anish Vyas Research Analyst Non-Agri Commodities and Currencies anish.vyas@angelbroking.com (022) 3935 8104
Registered Office: G-1, 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 CX 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 d does oes 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 f from rom Angel Commodities Broking (P) Ltd. Your feedback is appreciated on commodities@angelbroking.com
Page
www.angelcommodities.com
Bullion Update
Thursday| September 5, 2013
(6.9)
(16.7) (22.6)
In case of silver as well, prices on the MCX have benefited from Rupee depreciation as in dollar terms the metal has slumped almost 23 percent, whereas, MCX silver prices have declined only around 7 percent. The last month to has seen sharp gains in precious metal prices on the MCX due to Rupee weakness. While other factors like a bounce back in holdings of SPDR Gold Trust and the iShares silver Trust ETF also added some positive sentiments, the gains in India Indian n gold and silver prices were phenomenal.
Gold, Silver - August Performance (%)
29.7 30 25 20 15 10 5.5 5 0 Spot Gold ($/oz) MCX Gold (Rs/10gm) Spot Silver ($/oz) MCX Silver (Rs/10gm)
17.1
18.5
Page
The chart above shows the percentage percentage-wise wise price performance of gold and silver in Dollar and Rupee terms. MCX Gold prices have jumped more than 17 percent in the last month, wh while ile Spot Gold prices have increase only around 5.5 percent. Silver prices on the MCX gained around 30 percent during August13 and increase in silver prices in dollar terms was restricted to 18.5 percent. Rupee depreciation has hence played a crucial role in overall price performance of precious metals over the year.
www.angelcommodities.com
Bullion Update
Thursday| September 5, 2013
The adjacent chart shows that overall in 2013, each month has witnessed a decline in ETF gold holdings of the SPDR Gold Trust. However, in the month of August13, the decline was much less than that since the start of the year. ETF holdings fell only about 0.7 percent in August13 as against a fall of more than 4 percent during the months of June13 and July13. On a year-to-date year basis, holdings of the SPDR Gold Trust have slipped around 32 percent and continue to show a long-term bearish picture.
Average prices of gold in Dollar and Rupee terms both, witnessed a bounce back in the month of August13. What contributed to positive sentiments in th the e international markets was the slowdown in decline in ETF holdings. While the trend in SPDR ETF gold holdings is showing a long-term long declining th trend, if seen closely the data shows that on the 8 August13, holdings had slipped to a low of 909.33 tonnes. From thereon, a reversal was seen with holdings rising to 921.03 at the end of the month month; however, month-on-month, month, ETF gold holdings show a decline.
Spot Gold Average Monthly Prices ($/oz)
1700 1650 1600 1550 1500 1450 1400 1350 1300 1250 1200 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun Jun-13 Jul-13 Aug-13
25000 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13
1,485 1,416
Average prices in dollar terms rise around 5 percent, while MCX gold prices rise more than 13 percent in Aug'13
1,342 1,287
1,353
27000 26000
Page
The average prices of gold on the MCX jumpe jumped d sharply to Rs30,316/10 gm and prices during the month of August13 touched a high of Rs35,074/10gm 35,074/10gm on 28th August13, when the Rupee depreciated sharply and tested an all-time time low of 68.93. Currently, gold prices on the MCX near-month month contract are hovering around Rs32,670/10gm 32,670/10gm as a reversal in the movement in the Rupee led to downside pressure on prices.
www.angelcommodities.com
Bullion Update
Thursday| September 5, 2013
Average prices in dollar terms rise around 5 percent, while MCX gold prices rise more than 13 percent in Aug'13
56000 54000 52000 50000 48000 46000 44000 42000 40000 38000 Jan-13 Feb-13
47,324 44,056
48,412
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Manufacturing data from the advanced economies came on the positive side and this factor boosted boos prices of overall industrial metals. Silver, being a precious and an industrial metal, also took cues from rise in manufacturing data and witnessed a sharp rally. The overall increase in average silver prices in Rupee terms was Rs7600 and in percentage terms, average MCX silver prices jumped a whopping 13 percent. Rupee depreciation also contributed to the increase in silver prices as compared to gains in dollar terms. However, over the year, average silver prices on the MCX have fallen from Rs58,670/kg in Jan13 to Rs48,400/kg in August13, 13, marking a fall of almost 18 percent in terms of average prices. Internationally too, silver prices have declined from a monthly average of $31.1/oz in Jan13 to $22.1/oz in August13. The scenario in case e of holdings in the iShares Silver Trust is different from that in case of gold. Year-to-date, date, holdings are up around 5 percent and during months of July13 and August13, holding increase around 5 percent and 2 percent respectively. The months of April13, 3, May13 and June13 witnessed declines but over the year, holdings have seen a rise. This indicates improvement in economic scenario of advanced economies could eventually support demand for industrial metals, thus in turn increasing demand prospects for the same.
2.9
2.5
1.7
Page
www.angelcommodities.com
Bullion Update
Thursday| September 5, 2013
Page
www.angelcommodities.com
Bullion Update
Thursday| September 5, 2013
Technical Levels
Commodity Spot Gold ($/oz) MCX Gold (Rs./10 gms) Spot Silver ($/oz) MCX Silver (Rs./kg) Trend Up Up Up Up Supoort 2 1300 30000 19.8 46500 Support 1 1355 31700 21.7 51000 CMP 1393 32600 23.48 55000 Resistance 1 1445 33800 25.6 60000 Resisitance 2 1500 35300 27.3 64000
Page
www.angelcommodities.com