Commodities Evening Update

Friday | November 23, 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

Friday | November 23, 2012

International Commodities
News and Analysis German Ifo Business Climate rose to 101.4 in November. UK BBA Mortgage approvals increased to 33K levels in the last Performance during the day
Index Nifty Sensex Open 5627.75 18543.95 9336.32 1901.73 15575.53 High 5637.40 18553.66 9366.80 1911.33 15582.74

as at 4.30 pm 23 November12
Low 5593.55 18402.38 9304.72 1894.58 15431.19 Last 5626.60 18506.57 9366.80 1911.33 15431.19 % Chg from Prev day -0.02 -0.06 1.56 0.62 -0.39
Source: Reuters

month. Indian Rupee depreciated 0.7 percent and was trading at 55.53 European markets are trading on a positive note taking cues from favorable German business confidence data. Positive global market sentiments also supported the Euro. US markets are trading on a firm note and Asian markets ended on a mixed note. Spot gold prices are trading on a positive note due to rise in the risk appetitite in the global markets resulting from poisitve data from the Euro causing weakness in the DX. The yellow metal is trading 0.3 percent higher today after touching a high of $1,734.30 per ounce till 4:30 p.m. In the domestic markets MCX Gold prices are trading 0.6 percent higher owing to depreciation in the Indian rupee and traced spot gold prices. Tracking firmness in the gold prices along with weakness in the DX spot silver prices also strengthend 0.5 perecent and is trading around Rs.62,535 per kg Further, firmness in the base metals pack except copper also added to the gains in the silver prices. In the domestic markets MCX silver prices are trading higher 0.6 percent due to depreciation in the rupee. Base metal prices continued to extend earlier gains of the previous day taking cues frm positive data from the US and Chinese economy along with unexpected rise in the business confidence in Germany. Additionally, decline in the LME inventories also added to the gains in the base metals prices. Copper prices however, witnessed a downside pressure on account of profit booking. However, sharp downside in the prices were cushioned on account of weakness in the DX and decline in the LME inventories. NYMEX crude oil prices are trading 0.4 percent higher due to positive data from the US and Chinese economy along with weakness in the DX. However, sharp upside in the prices were capped on account of cease fire called by Israel and Hamas easing concerns of supply disruptions. In the domestic markets depreciation in the Indian rupee is acting as a supportive factor for MCX crude oil prices.

Nikkei Kospi FTSE

as at 4.30 pm 23 November12
Currency Dollar Index Euro/$ Spot INR/$ Spot Open 80.76 1.2881 55.21 High 80.76 1.2914 55.54 Low 80.565 1.2866 55.19 Current 80.665 1.2894 55.53 % Chg from Prev day -0.37 0.09 0.74
Source: Reuters

as at 4.30 pm 23 November12
Commodity Spot Gold Comex Gold Dec12 MCX Gold Dec12 Spot Silver Comex Silver Dec12 MCX Silver Dec12 Crude Oil Nymex Jan 12 ICE -Brent Crude Oil MCX Crude Oil Dec 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

1729.05 1730.3 31853 33.28 33.35 62142 87.12 110.47 4840 7713.75 425.70 1920.50 105.30 2163 119.35 16600 912.50 1940.25 106.75

1734.60 1734.8 32039 33.49 33.49 62549 87.30 110.67 4857 7743.00 429.00 1938.50 106.35 2174 120.40 16645 920.40 1951.00 107.35

1727.89 1727.6 31853 33.24 33.24 62116 86.71 110.10 4839 7672.00 425.25 1919.00 105.20 2155 119.25 16503 912.50 1937.50 106.55

1733.56 1734 32032 33.43 33.42 62535 87.10 110.42 4851 7701.00 427.20 1937.50 106.25 2172 120.15 16603 919.40 1950.75 107.25

0.26 0.26 0.57 0.45 0.21 0.61 -0.32 -0.12 0.27 -0.31 0.14 0.75 1.00 0.32 0.54 0.44 0.69 0.26 0.47

Source: Reuters.

Commodities Evening Update

Friday | November 23, 2012

International Commodities
Outlook

In the evening session, we expect precious, base metals and crude oil prices to trade on a positive note taking cues from upbeat global market sentiments causing rise in the risk appetite and thereby decline in demand for the DX. Positive economic data from the US, China and Euroupe is creating optimism that the economies are on the path of recovery. Thus providing support to an upside in the commodities.

Technical Outook for evening session 23 November12 ( CMP as of 5.00 pm)

Commodity Gold Dec'12 Spot Gold Silver Dec12 Spot Silver Crude Oil Dec '12 Nymex Crude Oil Jan12 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 31885 1724 61901 32.95 4813 86.25 212.6 423.6 104.8 118.45 106.25 906 Support 1 31960 1727 62252 33.22 4838 86.7 214.8 425.2 105.5 119.25 106.55 911 CMP 32062 1733.7 62605 33.43 4857 87.04 216.2 428 106.4 120.35 107.6 920.5 Resistance1 32090 1735 62796 33.61 4888 87.6 217.4 429.5 106.85 120.85 108.05 923 Resistance 2 32150 1739 62991 33.76 4916 88.1 220 431.5 107.5 121.5 108.7 933

Important Events for Today

Indicator Bank Holiday German Ifo Business Climate EU Economic Summit BBA Mortgage Approvals

Country JPY EU EU GBP

Time (IST) All Day 2:30 pm Day 2 3:00pm

Actual

Forecast

Previous

Impact Low

101.4

44.1

43.7

High High

33.0K

32.3K

31.5K

Medium