DAILY MCX NEWSLETTER

03-DEC. -2013

THE EQUICOM PROFIT UPDATE: PLEASE CLOSE YOUR POSITION IN COPPER, OUR SL TRIGGERED www.TheEquicom.com 09200009266

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BULLION

BASE METAL

ENERGY

Gold prices in the global market are expected to continue their downward movement this year and in 2014 on likely US Fed tapering. For the time being, continuing outflows, lower than expected physical demand, firm equities and a jump in short positions are putting pressure on the yellow metal prices. The Barclays Global Macro Survey noted that 60% of investors believe that equities would be the most profitable asset class in the next three months. The outperformance of equities has certainly weighed on interest in gold this year and, in our view, contributed to the ETP outflows. A quarter of the investors surveyed expected gold prices to trade between $1200-1250 and almost a quarter expected gold to trade below $1200/oz at the end of Q1 14 with most expecting Fed tapering to commence in March 2014, said Barclays in its weekly analysis.

The global nonferrous exploration budges have fallen 29% in 2013 at $15.2 bn compared to $21.5 bn in 2012, according to SNL-Metals Economics Group (SNL-MEG). SNL-MEG which released their Corporate Exploration Strategies (CES), said that exploration budges for Canada continued to decline, while increased emphasis was focused on Russia and the Democratic Republic of the Congo. Allocations to the top 10 countries accounted for almost two-thirds of the worldwide exploration budget total in 2013. The top nine countries are the same as in 2012, though there were a few shifts among the ranks Russia moved to No. 6 from No. 8, dropping Peru and China back to No. 7 and No. 8, respectively. The only other change was that the DRC replaced Argentina in the No. 10 spot; placing the African country among the top 10 exploration destinations for the first time.

The outlook for Iranian production and exports in the second half of 2014 remains highly uncertain. The EIA has highlighted that Iranian fields continue to decline at around 8-13% per year, meaning that on average 300 kb/d of new production is needed just to keep production levels flat, said London based Barclays in its recent weekly outlook. Assuming negotiations continue and Iran adheres to its obligations under the Geneva Agreement, some of the heavy oil production that had been shut in could be restarted. Iran could be producing around 700-900 kb/d more oil by year-end 2014 than the 2.8 mb/d of oil that it is producing today, the bank pointed. All else being equal, oil market balances would soften if increased Iranian production results in a concurrent reduction in Saudi Arabian production, which would raise spare capacity at a critical juncture for the oil market.

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BULLION
GOLD (5 FEB.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : -CONSOLIDATE : - 29150, 29400 : - 28400, 28150 : - SELL ON HIGH

SILVER (5 MAR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 45000, 45700 : - 43900, 43600 : - SELL ON HIGH HIGH

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ENERGY
CRUDEOIL (18 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 5900, 5970 : - 5800, 5750 : - SELL ON HIGH

NATURAL GAS (26 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - BULLISH : - 250.00, 253.50 : - 244.00, 240.00 : - BUY ON DIPS

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BASE METAL

COPPER (28 FEB.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : -451.00, 454.00 : - 442.00, 439.00 : - SELL ON HIGH

LEAD (31 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 130.00, 131.50 : - 126.50, 125.50 : - SELL ON HIGH

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ZINC (31 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 117.50, 118.50 : - 114.50, 113.50 : - SELL ON HIGH

ALUMINUM (31 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 108.50, 110.00 : - 105.50, 104.50 : - SELL ON HIGH

NICKEL (31 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 849.00, 856.00 : - 838.50, 830.00 : - SELL ON HIGH

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GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1221.46 19.207 03.221 94.05 03.981 711.30 1346.80

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

62.7775 01.3535 103.174 00.9092 01.6362 01.0644

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