BULLION METALS OUTLOOK -

GOLD - Gold on MCX settled down -0.44% at 28952 as investors looked ahead to minutes of the Federal Reserves latest policy
meeting for further hints on the timing of the next U.S. rate hike. The U.S. dollar was on the defensive on Thursday after the
minutes from the Federal Reserve's last policy meeting showed policymakers were increasingly wary of recent softness in inflation
and could delay a rate hike. Federal Reserve policymakers appeared increasingly wary about recent weak inflation and some called
for halting interest rate hikes until it was clear the trend was transitory, according to the minutes of the U.S. central bank's last
policy meeting. The U.S. central bank is roughly at the mid-point on its current path to normalize interest rates as the economy has
shown further improvement even without fiscal stimulus, San Francisco Federal Reserve President John Williams told. European
Central Bank President Mario Draghi will not deliver a new policy message at the U.S. Federal Reserve's Jackson Hole conference,
two sources familiar with the situation said, tempering expectations for the bank to start charting the course out of stimulus. The
economy in the 19 countries sharing the euro currency expanded by more than previously forecast in the second quarter compared
to the same quarter in 2016, the European Union's statistics office Eurostat said. Technically Gold market is under fresh selling as
market has witnessed gain in open interest by 0.91% to settled at 6635 while prices down 128 rupees. Now MCX Gold is getting
support at 28844 and below same could see a test of 28737 levels, and resistance is now likely to be seen at 29014, a move above
could see prices testing 29077. .
GOLD CHART

Chart Details - On the Above given Daily Chart of Gold has Appiles the Bollinger Band Along with MACD A closer look at
price action sees gold holding within the confines of a well-defined ascending channel formation off the July lows. A rebound off
channel support early this week saw prices break to fresh yearly highs on Friday but not before posting a massive 4-hour reversal
candle just ahead of channel resistance. Heading into next week, the threat remains for a deeper pullback here but the broader focus
remains higher while channel support /1278 with bullish invalidation set to the monthly open at 1268. Bottom line: were shifting
our weekly bias to neutral heading into next week while noting a constructive outlook while within this channel. Technically Gold
market is under fresh selling as market has witnessed gain in open interest by 0.91% to settled at 6635 while prices down 128
rupees. Now MCX Gold is getting support at 28844 and below same could see a test of 28737 levels, and resistance is now likely to
be seen at 29014, a move above could see prices testing 29077.

Monday 21Aug 2017

SILVER -Silver on MCX settled down -0.8% at 38863 but prices trimmed some of its losses after the release of downbeat U.S.
housing sector data dampened demand for the greenback. However, sentiment on the greenback became vulnerable after the U.S.
Commerce Department said on Wednesday that the number of housing starts and building permits both fell in July. Housing starts
dropped 4.8% to a seasonally adjusted annual rate of 1.16 million units, the Commerce Department said. Investors will parse the
minutes for clues on when Fed might start to unwind its $ 4.5 tn balance sheet as well as any update concerning the labor market and
inflation. In its July policy statement, the Federal Reserve raised concerns over the slow pace of inflation while pointing out that it
expects to begin unwinding its balance sheet relatively soon. Ahead of the release, New York Fed Chief Bill Dudley said earlier
this week, he would favour a third rate hike this year. Earlier, Cleveland Fed President Loretta Mester said that while some price
readings have fallen this year, expectations are more stable, adding that monetary policy must anticipate changes in the data and not
react to temporary aberrations. She said there is roughly an equal chance that the Fed is forced to raise rates more or less
aggressively than currently planned in the months and years ahead. In its July policy statement, the Federal Reserve raised concerns
over the slow pace of inflation while pointing out that it expects to begin unwinding its balance sheet relatively soon. Technically
MCX Silver is getting support at 38450 and below same could see a test of 38036 levels, and resistance is now likely to be seen at
39133, a move above could see prices testing 39402.

SILVER CHART

Detail of Chart -Silver prices have been working their way higher in bullish fashion since the spike-day low created back on 7/10.
The past few days the rally stalled on a failure to maintain above the 200-day MA and after touching off on the upper parallel of the
channel since in place since July. The trend in the intermediate to long-term remains down, marked by the lower highs and lower lows,
however; as long as the lower parallel maintains then keeping a tentatively bullish stance in the near-term makes sense. Technically
MCX Silver is getting support at 38450 and below same could see a test of 38036 levels, and resistance is now likely to be seen at
39133, a move above could see prices testing 39402.
 MCX DAILY LEVELS

DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

ALUMINIUM 31-AUG-17 139 137 135 134 133 132 131 129 127

COPPER 31- AUG-2017 430 425 420 417 415 412 410 405 400

CRUDE OIL 19-SEP-17 3399 3290 3181 3142 3072 3033 2963 2854 2745

GOLD 05-OCT-2017 30331 29963 29595 29379 29227 29011 28859 28491 28123

LEAD 31-AUG-17 170 164 158 154 152 148 146 140 134

NATURAL GAS 28-AUG-2017 195 192 189 187 186 184 183 180 177

NICKEL 31-AUG-17 762 741 720 712 699 691 678 657 636

SILVER 05-SEP-2017 41491 40734 39977 39520 39220 38763 38463 37706 36949

ZINC 31-AUG-17 214 209 204 202 199 197 194 189 184

MCX WEEKLY LEVELS

WEEKLY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

ALUMINIUM 31-AUG-17 149 143 137 134 131 128 125 119 113

COPPER 31-AUG-17 454 441 428 421 415 408 402 389 376

CRUDE OIL 21-AUG-17 3582 3414 3246 3175 3078 3007 2910 2742 2574

GOLD 05-OCT-2017 31064 30421 29778 29470 29135 28827 28492 27849 27206

LEAD 31-AUG-17 192 179 166 158 153 145 140 127 114

NATURAL GAS 28-AUG-2017 217 207 197 191 187 181 177 167 157

NICKEL 31-AUG-17 820 777 734 719 691 676 648 605 562

SILVER 05-SEP-2017 43131 41759 40378 39725 39015 38353 37643 36271 34899

ZINC 31-AUG-17 243 227 211 205 195 189 179 163 147
 FOREX DAILY LEVELS

DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

USDINR 29-AUG-17 64.22 64.18 64.14 64.09 64.05 64.00 63.96 63.91 63.87

EURINR 29-AUG-17 75.68 75.58 75.48 75.33 75.23 75.08 74.98 74.83 74.68

GBPINR 29-AUG-17 82.92 82.79 82.66 82.55 82.42 82.31 82.18 82.07 81.95

JPYINR 29-AUG-17 60.83 60.74 59.83 59.38 58.47 58.02 57.11 56.66 55.78

FOREX WEEKLY LEVELS

WEEKLY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

USDINR 29-AUG-17 64.86 64.68 64.50 64.29 64.11 63.90 63.72 63.51 63.22

EURINR 29-AUG-17 75.72 75.60 75.49 75.35 75.24 75.10 74.99 74.85 74.71

GBPINR 29-AUG-17 82.96 82.83 82.70 82.56 82.43 82.29 82.16 82.02 81.88

JPYINR 29-AUG-17 63.65 62.41 61.17 60.05 58.81 57.69 56.45 55.33 55.21
 NCDEX DAILY LEVELS

DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

SYOREFIDR 20-SEP -2017 642 641 640 639 639 638 637 636 635

SYBEANIDR 20-SEP -2017 3188 3148 3108 3092 3068 3052 3028 2988 2948

RMSEED 20-SEP -2017 3837 3817 3797 3785 3777 3765 3757 3737 3717

JEERAUNJHA 20-SEP -2017 19573 19443 19313 19246 19183 19116 19053 18923 18793

GUARSEED10 20-SEP -2017 4315 4182 4049 3990 3916 3857 3783 3650 3517

TMC 20-SEP -2017 7962 7784 7606 7534 7428 7356 7250 7072 6894

NCDEX WEEKLY LEVELS

WEEKLY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

SYOREFIDR 20-SEP -2017 695 678 661 650 644 633 627 610 593

SYBEANIDR 20-SEP -2017 3362 3257 3152 3114 3047 3009 2942 2837 2732

RMSEED 20-SEP -2017 4195 4041 3887 3830 3733 3676 3579 3425 3271

JEERAUNJHA 20-SEP -2017 20793 20273 19753 19466 19233 18946 18713 18193 17673

GUARSEED10 20-SEP -2017 4568 4340 4112 4022 3884 3794 3656 3428 3200

TMC 20-SEP -2017 8052 7840 7628 7545 7416 7333 7204 6992 6780
MCX - WEEKLY NEWS LETTERS

INTERNATIONAL UPDATES ( BULLION & ENERGY )

GOLD

Gold prices retreated on Friday after surging to their highest level in nine months earlier on the back of
concerns over U.S. political uncertainty and amid safe haven buying in the wake of a terrorist attack in
Spain. Gold futures for December delivery settled down 0.16% at $1,290.27 on the Comex division of the
New York Mercantile Exchange, after rising as high as $1,306.9 earlier, the highest level since November
11. The precious metal reversed course after reports that senior White House advisor Steven Bannon was
leaving his post, in what was seen as a positive for the Trump administrations agenda. Ongoing
uncertainty over the economic agenda of U.S. President Donald Trump and doubts that the Fed will
deliver a third rate hike this year have been factors underpinning gold demand. Gold prices have risen
around 11% this year due in large part to the weaker dollar. The dollar surged to 14-year highs after
Trumps November election on hopes that his plans for fiscal stimulus and tax reform would bolster the
economy. The dollar has since given up its post-election gains amid mounting concerns about the
administrations ability to deliver on its agenda.
Gold prices were little changed after jumping to their highest in more than nine months on Friday as the
dollar retreated on political uncertainty in the United States and a suspected Islamist militant attack in
Spain boosted bullion's safe-haven appeal. Spain mounted a sweeping anti-terrorism operation on Friday
after a suspected militant drove a van into crowds in Barcelona, killing 13 people in what police suspect
was one of a planned wave of attacks. gold XAU= touched its highest since Nov. 9 at $1,300.80 per
ounce, and was up 0.03 percent at $1,287.95 an ounce by 3:20 p.m. EDT. Pressuring gold, however, was
the latest high-level shake up at the White House. U.S. President Donald Trump on Friday fired Stephen
Bannon as his chief strategist, removing a powerful and controversial figure known for far-right political
views. stocks rebounded in a volatile session on Friday, while the dollar cut losses and bond yields rose to
session highs after the news. ouster of White House chief strategist Steve Bannon, who had been vilified
perhaps more than anyone in the executive branch since Dick Cheney, put a tenuous floor on the
stumbling stock market and blunted gold's charge above $1,300," said Tai Wong, director of base and
precious metals trading for BMO Capital Markets in New York. "Gold and silver finish the day and the
week largely unchanged looking for direction." Markets were also uncertain about Trump's ability to push
ahead with policies after the disbandment of two high-profile business advisory councils over his remarks
on violence at a rally in Virginia last weekend. gold futures GCcv1 for December delivery settled at
$1,291.60. "The recent soft patch in U.S. data has put serious doubts over whether there will be another
rate hike coming from the Fed this year.

Gold prices in India were at their widest discount to international prices in 11 months on Friday due to
sluggish demand and an influx of the precious metal sourced from South Korea. Indian traders are likely
to import 25 tonnes of gold from South Korea in July-August, taking advantage of a recent tax change
that allows imports without the usual 10 percent customs duty, industry officials told Reuters. Korean
supplies are distorting the market. Retail demand is still weak due to the price rise," said N. Vijay, a
bullion dealer from Salem in the southern Indian state of Tamil Nadu. India had previously imposed a
12.5 percent excise duty on imports from countries with which it had signed Free Trade Agreements, such
as South Korea. But this was scrapped along with other local taxes when India introduced a Goods and
Services Tax from July 1. in India were offering a discount of up to $ 13 an ounce this week over official
domestic prices, compared with a discount of up to $ 7 an ounce last week. This week's discount was the
maximum since September 2016. Local gold prices MAUc1 jumped to 29,390 rupees per 10 grams on
Friday, the highest since June 8. "Retail buyers and jewellers are waiting for prices to correct. They are
not comfortable in buying above 29,000 rupees," said a Mumbai-based dealer with a private bank.

Gold prices moved higher on Friday, hovering close to a recent two-month peak, after a terrorist attack in
Spain boosted demand for safe-haven assets. Comex gold futures were up around $1.95, or about 0.14%,
to $1,293.12 a troy ounce by 3:00AM ET, not far from a two-month high of $1,298.10 reached late last
week. The precious mental found support after a van rammed into pedestrians in a crowded tourist area of
Barcelona on Thursday evening, killing at least 13 people and injuring 100 others. The Islamic State
claimed responsibility for the incident. Spanish police said that two men had been arrested so far. Gold
prices were also boosted by a weaker U.S. dollar, after eight chief executives quit two business advisory
councils on Wednesday in protest over U.S. President Donald Trumps controversial remarks on weekend
violence in Virginia. The U.S. President reacted to the departures by disbanding the councils the
American Manufacturing Council and the Strategic and Policy Forum. White House Economic Adviser
Gary Cohn denied rumors of his possible departure late Thursday. However, growing opposition to
Trumps positions, including from within his own party, have fueled concerns over the administrations
ability to implement its political agenda. The dollar also remained under pressure after the minutes of the
Feds July policy meeting released on Wednesday showed that members of the central bank remain
divided over the need to raise interest rates further this year, citing low inflation. The U.S. dollar index,
which measures the greenbacks strength against a trade-weighted basket of six major currencies, was
down 0.11% at 93.54. The precious metal is sensitive to moves in U.S. rates, which lift the opportunity
cost of holding non-yielding assets such as bullion. A gradual path to higher rates is seen as less of a
threat to gold prices than a swift series of increases.

Gold prices rose sharply on Thursday, climbing back toward their highest level in more than two months
after minutes from the Federal Reserve's July meeting hinted at a delay in further rate hikes. Comex gold
futures gained around $11.00, or about 0.9%, to $1,293.72 a troy ounce by 3:15AM ET, not far from a
two-month high of $1,298.10 touched late last week. Gold prices finished higher on Wednesday as news
that two White House business advisory groups have disbanded prompted a late-session turn higher for
the yellow metal. Gold gained further after the minutes from the Fed's last policy meeting showed
policymakers were increasingly wary of recent softness in inflation and could delay a rate hike. Futures
traders are pricing in about a 40% chance of a rate hike by the end of the year, according to
Investing.coms Fed Rate Monitor Tool, down from roughly 50% before the Fed minutes. The precious
metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets
such as bullion. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series
of increases. Market players will now turn their attention to data on weekly jobless claims and the
Philadelphia Fed manufacturing survey at 8:30AM ET to gauge the strength of the world's largest
economy and how it will impact the Fed's view on monetary policy.
Investors took advantage of more confusion about Fed policy on rates and took the precious metal higher
in Asia on Thursday after minutes released overnight casts some doubt on a third hike this year. Gold
futures for December delivery on the Comex division of the New York Mercantile Exchange rose 0.80%
to $1,293.21 a troy ounce. Fed minutes showed an increased debate about another rate hike this year and
the political backlash against Donald Trump's remarks on racist confrontations this passed weekend in
Virginia weighed. The divide appeared in minutes released from the Federal Open Market Committee's
July meeting, when central bank policymakers voted to hold the target rate to a range of 1% to 1.25%.
The summary portrays views that inflation ultimately will get to the Fed's 2% target but is clearly not
there yet. Earlier, Cleveland Fed President Loretta Mester said that while some price readings have fallen
this year, expectations are more stable, adding that monetary policy must anticipate changes in the data
and not react to temporary aberrations. She said there is roughly an equal chance that the Fed is forced to
raise rates more or less aggressively than currently planned in the months and years ahead. Overnight,
gold prices turned positive on Wednesday, on the back of weaker U.S. housing data. Housing starts
dropped 4.8% to a seasonally adjusted annual rate of 1.16 million units, the Commerce Department said
on Wednesday.
Gold prices continued lower on Wednesday, as investors looked ahead to minutes of the Federal Reserves
latest policy meeting for further hints on the timing of the next U.S. rate hike and clues on how the central
bank plans to pare back its balance sheet. The Fed will release minutes of its most recent policy meeting
later in the day at 2:00PM ET. The central bank left interest rates unchanged following its meeting on July
26 and said it expected to start shrinking its massive holdings of bonds "relatively soon". Policymakers
also noted weakness in U.S. inflation more explicitly than before. Market players will also eye data on
U.S. housing starts and building permits at 8:30AM ET to gauge the strength of the world's largest
economy and how it will impact the Fed's view on monetary policy. Comex gold futures were down
around $4.00, or about 0.3%, to $1,275.81 a troy ounce by 2:55AM ET. It fell to a one-week low of
$1,272.70 in the prior session. The yellow metal suffered its steepest one-day drop in nearly six weeks on
Tuesday, after strong data on U.S. retail sales and manufacturing activity kept alive the chance of another
Fed rate hike by the end of this year. Futures traders are pricing in about a 50% chance of a rate hike by
December, according to Investing.coms Fed Rate Monitor Tool, up from roughly 35% at the start of the
week.
Gold prices moved lower for a second consecutive session on Tuesday, as tensions between the U.S. and
North Korea appeared to subside and as the greenback strengthened subsequently. On the Comex division
of the New York Mercantile Exchange, gold futures for December delivery were down 0.73% at
$1,281.04, the lowest since August 9 after hitting a two-month peak of $ 1.298.10 on Friday. The
December contract ended Mondays session 0.28% lower at $1,290.40 an ounce. Futures were likely to
find support at $1,265.90, the low of August 9 and resistance at $1,296.40, Mondays high. Demand for
the safe-haven precious metal weakened after North Korea said on Tuesday it had delayed a decision on a
plan to fire missiles at the U.S. Pacific territory of Guam while it watches U.S. actions a little longer. At
the same time, South Korean President Moon Jae-in said there will be no military action upon the Korean
peninsula without Seoul's consent and that the government would prevent war by all means. Market
participants were also looking ahead to U.S. retail sales data, to be released later Tuesday, for further
indications on the strength of the economy after disappointing inflation figures on Friday dampened
expectations for another rate hike by the Federal Reserve this year. The greenback found some support
after New York Fed President William Dudley said on Monday that he favored another interest rate hike
this year if the economic conditions evolved in line with his expectations. The U.S. dollar index, which
measures the greenbacks strength against a trade-weighted basket of six major currencies, was up 0.30%
at 93.62, the highest since August 10.
Gold prices fell by half a percent on Monday, retreating from last week's two-month highs, as dollar
strength and the easing of tensions between the United States and North Korea pushed prices lower.
Though North Korea's Liberation Day celebration on Tuesday could raise the temperature again, markets
were relieved that the weekend passed without more inflammatory rhetoric. the dollar broadly rose from
last week's four-month lows against the yen and traded up against a basket of currencies, making dollar-
priced gold costlier for non-U.S. investors. "A lot of the negative news is priced into the dollar. That,
combined with no real escalation in North Korea, should lead to lower gold prices, though it doesn't mean
we expect a very negative trend. We'll stay within the $1,200 to $1,300 range for the year," said ABN
Amro strategist Georgette Boele. Spot gold XAU= fell 0.6 percent to $1,281.21 an ounce by 2:33 p.m.
EDT, having reached its highest since June 7 at $1,291.86 in the previous session. U.S. gold futures
GCcv1 for December delivery fell 0.3 percent to settle at $1,290.40. "Although more aggressive rhetoric
between the U.S. and North officials would temporarily boost gold prices, we see outright military action
as unlikely and upward pressure on gold prices stemming from the confrontation as limited.
AHEAD OF THE COMING WEEK A LIST OF THESE SIGNIFICANT EVENTS LIKELY TO
AFFECT THE MARKETS.

Monday, August 21
Canada is to release data on wholesale sales.

Tuesday, August 22
The UK is to release data on public sector borrowing.
The ZEW Institute is to report on German economic sentiment.
Canada is to release data on retail sales.

Wednesday, August 23
ECB President Mario Draghi is to speak at an event in Germany.
The euro zone is to release data on manufacturing and service sector activity.
Dallas Fed President Robert Kaplan is to speak.
The U.S. is to release data on new home sales.

Thursday, August 24
The UK is to release revised data on second quarter growth.
The U.S. is to report on jobless claims and existing home sales.
Meanwhile, the annual meeting of top central bankers and economists in Jackson Hole will get underway.

Friday, August 25
The Ifo Institute is to report on German business climate.
The U.S. is to release data on durable goods orders.
ECB President Mario Draghi is to speak in Jackson Hole.

ENERGY
Oil markets were stable early on Monday, holding on to Friday's big gains even though rising U.S. output
weighed on hopes the market will tighten with crude inventories down 13 percent since March. Brent
crude futures, LCOc1 the international benchmark for oil prices, were at $52.72 per barrel at 0139 GMT,
unchanged from their last close. U.S. West Texas Intermediate crude futures CLc1 were at $48.54 a barrel,
up 3 cents form their last settlement. This came after an up-to-3 percent increase in prices on Friday. said
the market was somewhat held back by rising U.S. production, which has broken through 9.5 million
barrels per day, its highest since July 2015. But the rise in U.S. output may soon slow, as energy firms cut
rigs drilling for new oil for a second week in three, the Baker Hughes energy services firm reported on
Friday. Drillers cut five oil rigs in the week to Aug. 18, bringing the total count down to 763, Baker
Hughes said. "The rig count suffered its biggest fall since January, adding to signs that the market is
tightening," ANZ bank said on Monday. Also, U.S. commercial crude inventories have fallen by almost
13 percent from their March peaks, to 466.5 million barrels. Analysts said that falling crude inventories,
despite rising output, indicate the market is already tightening. "The rebalance of the oil market is well
under way according to inventory data, however the market is heavily focused on the fact that shale
supply continues to increase.

Oil prices moved higher on Friday, bouncing off the previous sessions three-week lows, but gains were
expected to remain limited by ongoing converns over rising U.S. production and overall risk-aversion on
global financial markets. The U.S. West Texas Intermediate crude September contract was at $47.19 a
barrel by 6:30AM ET, up 10 cents, or around 0.21%, off Thursdays three-week through of $ 46.46.
Elsewhere, Brent oil for October delivery on the ICE Futures Exchange in London added 0.5 cents or
about 0.1% to $51.05 a barrel, after hitting a three-week low of $ 50.01 in the previous session. Crude
prices remained under pressure after U.S. government data this week revealed an increase in domestic
production to the highest level in over two years. However, crude oil inventories fell by 8.9 million
barrels, according to the EIA figures, the seventh weekly decline in a row. Oil prices have been under
pressure in recent weeks as concern over rising U.S. shale output canceled out production cuts by OPEC
and non-OPEC members. OPEC and 10 producers outside the cartel, including Russia, agreed since the
start of the year to slash 1.8 million barrels per day in supply until March 2018 in order to reduce a global
supply glut and rebalance the market. However, so far, the deal has had little impact on global inventory
levels due to rising supply from producers not participating in the accord, such as Libya and Nigeria, as
well as a relentless increase in U.S. shale output. Oil traders were also sensitive to overall risk-aversion on
global markets after after a van rammed into pedestrians in a crowded tourist area of Barcelona on
Thursday evening, killing at least 13 people and injuring 100 others.

Oil prices dipped on Friday as part of a broad-based selloff across markets and despite signs that crude
markets are gradually tightening. Brent crude futures, LCOc1 the international benchmark for oil prices,
were at $50.99 per barrel at 0520 GMT, down 4 cents from their last close. Brent is set for an over 2
percent drop this week. U.S. West Texas Intermediate crude futures CLc1 were at $ 47.06 a barrel, down 3
cents. WTI is also set to drop for the week, down some 3.5 percent. The dip in oil prices occurred amid a
selloff across markets, including U.S. and Asian stocks, where investors voted with their feet amid
growing scepticism that U.S. President Donald Trump, embroiled in controversy, would achieve his
economic agenda. overall softness in financial markets added to the perception that oil supply remains
higher than demand despite producer efforts to reduce output. The Organization of the Petroleum
Exporting Countries, together with non-OPEC producers like Russia, has pledged to restrict output by 1.8
million barrels per day between January this year and March 2018. "Sentiment in oil markets remains
weak.
Oil prices edged up on Thursday, but the market continued to be weighed down by high production,
especially in the United States. Brent crude futures LCOc1 were at $ 50.36 per barrel at 0657 GMT, up 9
cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate crude futures CLc1 were at $
46.80 a barrel, up just 2 cents. The slight gains followed a more than 1 percent fall in the previous session.
Information Administration data on Wednesday showed that commercial U.S. crude oil stocks C-STK-T-
EIA have fallen by almost 13 percent from their peaks in March to 466.5 million barrels. Stocks are now
lower than in 2016. "If inventory declines continue at this pace, stocks will fall back below the five-year
average in around two months," said William O'Loughlin, analyst at Australia's Rivkin Securities. pace of
the declines indicates that the OPEC production cuts are having an effect, although the current oil price
suggests that the market is sceptical about the longer-term prospects for rebalancing of the oil market. The
market seemed "to focus on the rise in production", which jumped by 79,000 barrels per day to 9.5
million bpd last week, its highest level since July 2015, and 12.75 percent above the most recent low in
mid-2016.
Crude oil prices rebounded in Asia on Thursday as investors saw buying opportunity on an overnight dip
on mixed U.S. inventory data. Record refinery runs in the U.S. are drawing down crude stocks, but
gasoline produced is not seeing expected strong demand as the summer driving season heads to a close,
said Matt Smith, director of commodities, Clipper Data. On the New York Mercantile Exchange crude
futures for September delivery rose 0.24% to $46.89, while on London's Intercontinental Exchange, Brent
gained 0.44% to $50.49 a barrel. Overnight, crude futures settled lower on Wednesday, as data showing
U.S. crude production rose to its highest in over two years offset a decline in supplies of U.S. crude for a
seventh-straight week. Crude oil fell for the third-straight day, after a report from the Energy Information
Administration showing crude stockpiles fell by more than expected last week failed to offset concerns
over a rise in production.Inventories of U.S. crude fell by roughly 8.9m barrels in the week ended Aug 11,
confounding expectations of a draw of about only 3m barrels. It was seventh-straight week of falling
crude inventories.Gasoline inventories, one of the products that crude is refined into, unexpectedly rose
by roughly 22,000 barrels against expectations of a draw of 1.1m barrels while distillate stockpiles rose
by 702,000 barrels, compared to expectations of a decline of 572,000 barrels.
Oil prices edged up on Wednesday on a fall in U.S. crude inventories, although markets were still being
weighed down by general oversupply. Brent crude futures LCOc1 were at $51.02 per barrel at 0218 GMT,
up 22 cents or 0.4 percent from their last close. U.S. West Texas Intermediate crude futures CLc1 were at
$47.70 a barrel, up 15 cents, or 0.3 percent. U.S. crude inventories fell by 9.2 million barrels in the week
to Aug. 11 to 469.2 million, industry group the American Petroleum Institute said on Tuesday. That
compared with analyst expectations for a decrease of 3.1 million barrels. "The market took this as a
mildly bullish report," said William O'Loughlin, investment analyst at Rivkin Securities. However,
gasoline stocks climbed by 301,000 barrels, compared with analyst expectations in a Reuters poll for a 1.1
million barrel decline. Energy Information Administration data will be published late on Wednesday.
More broadly, analysts said ample supplies were preventing prices from moving much higher. "It is the
ongoing fundamental issue of excessive supply that is continuing to weigh on oil prices... Not a lot has
changed despite the OPEC and Russia efforts recently. While these producers have tried to limit their oil
output, U.S. shale oil continues to rise. The Organization of the Petroleum Exporting Countries together
with Non-OPEC producers like Russia has pledged to restrict output by 1.8 million barrels per day
between January this year and March 2018.
Oil prices steadied in early Asian trade on Tuesday after sharp falls the session before when a stronger
U.S. dollar and a drop in Chinese refining runs hit the market. Global benchmark Brent crude futures
LCOc1 were up 6 cents, or 0.12 percent, at $50.79 at 0122 GMT. That was just above their 100-day
moving average, briefly breached in the previous session. U.S. West Texas Intermediate crude futures
CLc1 were also up 6 cents, or 0.13 percent, at $47.65 a barrel. Oil prices tumbled more than 2.5 percent
on Monday in volatile trade. oil refineries operated in July at their lowest daily rates since September
2016, official data showed on Monday, to ease brimming inventories as state-owned oil giants faced off
independents in a retail petrol price war. Analysts said the drop was steeper than expected, exacerbating
concerns that a glut of refined fuel products could weaken Chinese demand for oil. dollar firmed on
Tuesday after North Korea's leader signalled that he would delay plans to fire a missile near Guam,
further easing tensions and prompting investors to move back into riskier assets. prices had earlier on
Monday been supported by reports that Libya's top oilfield had cut its output by 30 percent on security
concerns. by the Organization of the Petroleum Exporting Countries and other oil producers to limit
output have helped lift Brent past $ 50 a barrel, but concerns remain that these efforts could be
undermined by producers in the U.S. and other countries. U.S. shale oil production is expected to grow
for its ninth consecutive month in September to 6.15 million barrels per day, the U.S. Energy Information
Administration said on Monday.
Oil prices were flat on Monday, falling early on worries about Chinese demand but then recovering from
session lows on questions about potential reductions in crude supply from Libya. Libya's National Oil
Corporation said an investigation had been opened into recent security violations at Sharara oil field. The
NOC did not specify whether the violations had affected output at the country's largest field, which has
been producing about 270,000 barrels a day. Workers at Libya's Zueitina export terminal threatened to
block a tanker due to dock on Saturday unless demands for salary and overtime payments are met. "It is
back to the Libyan situation being the most important thing here," said Bob Yawger, director of energy
futures at Mizuho in New York. "You have Libyan barrels off the market, so supply is not what it was at
this time last week. Prices retraced all their losses, then see-sawed within a few cents of unchanged.
Global benchmark Brent crude futures LCOc1 were at $51.73 a barrel by 11:21 a.m. EDT, down 37 cents
from Friday's close. They touched a low of $ 51.60 earlier in the session.
BASE METALS OUTLOOK :

Trading Ideas: -
ALUMINIUM -
Aluminium trading range for the day is 127.9-136.9.
Aluminium prices rallied as Chinese capacity cuts extend to the sector in Beijing's drive to clean up its
skies ahead of the winter heating season.
Aluminium stocks at three major Japanese ports rose 3 percent to 268,000 tonnes by end-July
compared with the previous month.
China Hongqiao Group clarified in a notice to the Hong Kong Exchange that it has shut down 2.68
million tonnes of production capacity amid the country's supply-side reforms.

NICKEL -
Nickel trading range for the day is 654.2-709.6.
Nickel prices rallied tracking rise in other base metals supported by expectations of strong global
demand and tight supplies.
China's strong economic growth showed visible signs of fading in July as lending costs rose and the
gravity-defying property market cooled.

ZINC -
Zinc trading range for the day is 183.1-208.9.
Zinc prices rose as Chinese infrastructure demand that has fed a rally in steel prices for months spills
into markets for steelmaking raw materials.
The rally in zinc, comes as China steps up plans to develop infrastructure while capacity cuts in its
steel industry reform boost prices.
Supporting prices was a fall in on-warrant zinc available to the market at LME-registered warehouses
of 5,500 tonnes, to 149,700 tonnes.

BASE METAL

ZINC - ( 20 - AUG - 2017 )

Zinc surged above $3,000 a metric ton for the first time in almost a decade while aluminum approached a
three-year high, adding momentum to a metals rally fueled by bets on tightening supplies and robust
demand. Zinc jumped as much as 5.8 per cent to $3,132.50 a ton on the London Metal Exchange, the
highest since 2007, before settling at $3,119 at 5:51 p.m. in London. Aluminum rose as much as 2.7 per
cent to the highest since September 2014, while nickel, copper and lead also advanced. The rally boosted
mining shares, with Freeport-McMoRan Inc. among the biggest gainers.

ALUMINIUM - ( 20 - AUG - 2017 )

Aluminium prices were higher by 2.16 per cent to Rs 132.40 per kg in futures trade today as speculators
built up fresh positions, driven by pick up in demand at the spot market. At the Multi Commodity
Exchange, aluminium for delivery in September went up by Rs 2.80, or 2.16 per cent to Rs 132.40 per kg
in business turnover of 492 lots. Similarly, the metal for delivery in August was trading higher by Rs 2.75,
or 2.13 per cent to Rs 131.70 per kg in 986 lots. Analysts said fresh positions created by participants on
the back of rise in demand from consuming industries in the spot market, mainly attributed the rise in
aluminium prices at futures trade.

ZINC - ( 19 - AUG - 2017 )

Zinc prices surged by 2.49 per cent to Rs 191.30 per kg in futures trade today as speculators built up
positions following uptick in demand in the spot market. At the Multi Commodity Exchange, zinc for
delivery in August rose by Rs 4.65, or 2.49 per cent to Rs 191.30 per kg in business turnover of 4341 lots.
Likewise, the metal for delivery in September contracts was trading higher by Rs 4.50, or 2.40 per cent to
Rs 191.90 per kg in 335 lots. Analysts said fresh positions created by traders due to pick up in demand
from consuming industries in the spot market, mainly led to the rise in zinc prices at futures trade.

COPPER - ( 18 - AUG - 2017 )

Copper futures traded 0.23 per cent lower at Rs 416.40 per kg today as participants indulged in reducing
positions, tracking a weak trend in base metals overseas. Besides, subdued demand from consuming
industries in the spot market weighed on prices. At the Multi Commodity Exchange, copper for delivery
in far-month November declined by 95 paise or 0.23 per cent to Rs 416.40 per kg in a business turnover
of 61 lots. The metal for delivery in current month too fell by 70 paise, or 0.17 per cent, to trade at Rs
410.35 per kg in a business volume of 592 lots. Globally, copper for three-month delivery declined 0.3
per cent to settle at USD 6,379 per tonne on the London Metal Exchange in yesterday's trade. Analysts
said trimming of positions by traders on the back of a weak trend in metal overseas in a reaction to a
stronger dollar and a series of disappointing economic reports from China, mainly weighed on copper
futures here.

NICKEL - ( 17 - AUG - 2017 )

Nickel prices eased by 0.86 per cent to Rs 657 per kg in futures market today as traders cut down their
bets, driven by subdued demand from consuming industries in the spot markets. At the Multi Commodity
Exchange, nickel for delivery in August drifted lower by Rs 5.70 or 0.86 per cent to Rs 657 per kg in
business turnover of 1,391 lots. On similar lines, the metal for delivery in September contracts shed Rs
5.50 or 0.82 per cent to Rs 662.10 per kg in 54 lots. Analysts said the fall in nickel prices in futures trade
is mostly attributed to tepid demand from alloy-makers at the domestic spot markets.
 COPPER - ( 16 - AUG - 2017 )
Copper prices softened by 0.30 per cent to Rs 409.30 per kg in futures trade today as speculators
offloaded their positions amid sluggish demand at the domestic spot markets even as it strengthened
overseas. At the Multi Commodity Exchange, copper for delivery in August declined by Rs 1.25, or 0.30
per cent to Rs 409.30 per kg in business turnover of 965 lots. Similarly, the metal for delivery in far-
month November contracts eased by 95 paise, or 0.23 per cent to Rs 415.95 per kg in 26 lots. Analysts
attributed the fall in copper futures to weak trends at the domestic markets owing to slackened demand
from consuming industries coupled with profit-booking. However, a firm trend on the London Metal
Exchange where copper prices hit two-year peaks as soaring steel and iron ore prices in China brightened
the outlook for growth and industrial demand in the world's largest metals consumer, capped the fall at
futures trade here, they added. Globally, copper for three-month delivery ended higher 0.7 per cent at
USD 6,414 per tonne at the LME.

ZINC- ( 16 - AUG - 2017 ) -

Zinc futures fell 0.19 per cent today as participants cut down their bets on a weak trend in base metals in
the spot markets due to profit-booking at current levels amid weak demand from consuming industries at
the spot markets. At the Multi Commodity Exchange, zinc for delivery in August contracts was trading
lower by 35 paise, or 0.19 per cent, to Rs 182.90 per kg, with a business turnover of 777 lots. The metal
for delivery in September fell by 30 paise, or 0.16 per cent to trade at Rs 13.45 per kg in a turnover of 12
lots. Traders said the fall in zinc prices in futures trade was mostly in tandem with a weak trend in the
base metals pack at the physical markets on weak demand.

LEAD - ( 15 - AUG - 2017 )

Lead prices were down 0.36 per cent to Rs 150.30 per kg in futures trading today as participants reduced
their exposure on the back of subdued demand from consuming industries in the spot market. At the Multi
Commodity Exchange, lead for delivery in August declined by 55 paise, or 0.36 per cent to Rs 150.30 per
kg in business turnover of 419 lots. Metal for delivery in September contracts fell by a similar margin to
trade at Rs 151.55 per kg in four lot s. Marketmen said the weakness in lead futures was due to a sluggish
demand from battery-makers at the domestic markets.

NICKEL FUTURES DOWN ON PROFIT-BOOKING - ( 15 - AUG - 2017 )

Nickel futures traded 0.42 per cent down at Rs 656.20 per kg today as participants cut down their
holdings to book profits at current levels. Besides, sluggish demand from alloy-makers in the domestic
spot market too weighed on metal prices. At the Multi Commodity Exchange, nickel for delivery this
month contracts shed Rs 2.80, or 0.42 per cent, to Rs 656.20 per kg in a business turnover of 208 lots.
Also, metal for delivery in the September fell by Rs 2.70, or 0.41 per cent to trade at Rs 661 per kg in five
lots. Market analysts said the fall in nickel prices was mostly due to profit-booking by participants at
existing levels amid low demand at the domestic market from alloy-makers.

COPPER FUTURES MARGINALLY DOWN ON WEAK DEMAND - ( 14 - AUG - 2017 )

Copper prices moved down by 0.30 per cent to Rs 405.50 per kg in futures trade today as speculators cut
down their bets amid muted demand at spot markets. Copper for delivery in August shed Rs 1.20, or 0.30
per cent, to Rs 405.50 per kg in a business turnover of 247 lots at the Multi Commodity Exchange.
Likewise, the metal for delivery in November traded lower by Rs 1.05 or 0.25 per cent to Rs 412.10 per
kg in 14 lots. Analysts said offloading of positions by speculators amid a low demand at domestic spot
markets mainly led to fall in copper prices at futures trade here.

COPPER - ( 14 - AUG - 2017 )

Copper prices moved down by 0.35 per cent to Rs 410.80 per kg in futures trade today as speculators
indulged in reducing their positions amid low demand at the spot markets.Besides, profit-booking kept
pressure on metal prices. At the Multi Commodity Exchange, copper for delivery in August fell by Rs
1.45, or 0.35 per cent, to Rs 410.80 per kg, in a business turnover of 777 lots. Likewise, the metal for
delivery in far-month November traded lower by Rs 1.35, or 0.32 per cent, to Rs 417.10 per kg in eight
lots. Analysts attributed the fall in copper prices at futures trade to a weak demand at the domestic spot
markets amid profit-booking at higher levels, led to the decline in copper prices in futures trade.

NICKEL - ( 14 - AUG - 2017 )

Nickel prices declined by 0.39 per cent to Rs 683.40 per kg in futures trade today as speculators cut down
their bets, driven by easing demand in the spot market. At the Multi Commodity Exchange, nickel for
delivery in September fell by Rs 2.70, or 0.39 per cent, to Rs 683.40 per kg, in a business turnover of 10
lots. Likewise, the metal for delivery in current month shed Rs 1.60, or 0.23 per cent, to Rs 679.80 per kg
in 524 lots. Analysts said offloading of positions by participants on the back of sluggish demand from
alloy-maker in the spot market and profit-booking, mainly influenced nickel prices at futures trade.

NCDEX - WEEKLY MARKET REVIEW

FUNDAMENTAL UPDATES OF NCDEX MARKET -

CRUDE PALM OIL - ( 20 - AUG - 2017 )

Crude palm oil prices drifted lower by 0.66 per cent to Rs 494.70 per 10 kg in futures trade today as
traders booked profits amid easing demand at the spot market. Besides, sufficient stocks position
following higher supplies from the producing belts too fuelled the downtrend. At the Multi Commodity
Exchange, crude palm oil for delivery in August declined by Rs 3.30, or 0.66 per cent to Rs 494.70 per 10
kg in business turnover of 107 lots. Likewise, the oil for delivery in September contracts was trading
lower by Rs 3.20, or 0.64 per cent to Rs 496.40 per 10 kg in 82 lots. Analysts said besides profit-booking
by speculators at prevailing higher levels, fall in demand at the spot market against ample stocks position
mainly weighed on crude palm oil prices.

CHANA - ( 20 - AUG - 2017 )

Chana prices fell by 1.19 per cent to Rs 5,470 per quintal in futures trade today as speculators booked
profits amid fall in demand in the spot market. In futures trading at the Multi Commodity Exchange,
crude palm oil for delivery in September fell by Rs 66, or 1.19 per cent to Rs 5,470 per quintal with an
open interest of 16,880 lots. Likewise, the oil for delivery in October declined by Rs 48, or 0.88 per cent
to Rs 5,382 in 13,350 lots. Analysts said besides profit-booking by participants at prevailing higher levels,
easing demand at the spot market against ample stocks position mainly weighed on chana prices at futures
trade.

REFINED SOYA OIL - ( 19 - AUG - 2017 )

Refined soya oil prices moved down by 0.47 per cent to Rs 639.60 per 10 kg in futures market today as
speculators reduced exposure amid subdued demand in the spot market against ample stocks. At the
National Commodity and Derivatives Exchange, refined soya oil for delivery in August declined by Rs 3,
or 0.47 per cent to Rs 639.60 per 10 kg with an open interest of 12,090 lots. On similar lines, the oil for
delivery in September contracts shed Rs 2.85, or 0.44 per cent to Rs 647.75 per 10 kg in 52,830 lots.
Analysts said offloading of positions by traders owing to sluggish demand in the physical market against
adequate stocks position, led to decline in refined soya oil prices at futures trade.

MENTHA OIL - ( 19 - AUG - 2017 )

Mentha oil prices flared up by 2.61 per cent to Rs 1,195.60 per kg in futures trade today as speculators
built up fresh positions amid pick up in demand from consuming industries in the spot market. Besides,
tight stock position on fall in arrivals from major producing belts of Chandausi in Uttar Pradesh supported
the upmove. At the Multi Commodity Exchange, mentha oil for delivery in August shot up by Rs 30.40,
or 2.61 per cent to Rs 1,195.60 per kg in business turnover of 557 lots. In a similar fashion, the oil for
delivery in September contracts traded higher by Rs 30.20, or 2.57 per cent to Rs 1,207.10 per kg in 116
lots. Analysts said fresh positions created by participants on the back of pick up in demand from
consuming industries in the physical market against restricted supplies from Chandausi, mainly pushed up
mentha oil prices at futures trade.

CARDAMOM - ( 19 - AUG - 2017 )

Cardamom prices went up by 0.28 per cent to Rs 1,176 per kg in futures trading today as participants built
up fresh positions, tracking a firm trend at spot markets on strong domestic as well as export demand. At
Multi Commodity Exchange, cardamom for delivery in September rose by Rs 3.30, or 0.28 per cent to Rs
1,176 per kg in business turnover of 93 lots. On similar lines, the spice for delivery in October contracts
was trading higher by Rs 2.70, or 0.24 per cent to Rs 1,135.50 per kg in 5 lots. Analysts said fresh
positions created by traders, taking positive cues from spot market on strong domestic as well as exports
demand against tight stocks position on fall in supplies from producing regions, supported the upside in
cardamom prices at futures trade.

CASTOR SEED - ( 18 - AUG - 2017 )

Castor seed futures on National Commodities and Derivatives Exchange (NCDEX) witnessed the highest
single day jump on Wednesday since March this year supported by highest ever monthly export volume of
castor meal and reports of crop damage due to heavy rains in Gujarat. The benchmark castor seed contract
on NCDEX for September delivery was up more than 3.21 % or Rs 147 today to trade at Rs. 4,727 per
quintal, its highest level in four and half months. India's castor meal exports in June was revised to
1,19,315 tonnes from 62,516 tonnes in data released by the Solvent Extractors' Association of India
recently. The export volume for July was not updated in the recent release by SEA but the exports are
expected to be good. The revised export data for castor meal in June is highest ever recorded for a single
month.

MENTHA OIL - ( 18 - AUG - 2017 )

Mentha oil prices drifted lower by 0.80 per cent to Rs 1,152 per kg in futures trade today as speculators
trimmed positions, driven by sluggish demand from industries at the spot market. Besides, ample stocks
position on higher supplies from producing regions too influenced mentha oil prices. At the Multi
Commodity Exchange, mentha oil for delivery this month traded lower by Rs 9.40, or 0.80 per cent, to Rs
1,152 per kg, in a business turnover of 638 lots. On similar lines, the oil for delivery in September
declined by Rs 7.50, or 0.64 per cent, to Rs 1,166.50 per kg in 99 lots. Analysts said offloading of
positions by participants due to subdued demand from consuming industries at the spot market against
ample stocks position on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in
mentha oil prices in futures trade.

CARDAMOM - ( 18 - AUG - 2017 )

Cardamom prices fell 0.95 per cent to Rs 1,085 per kg in futures trade today as speculators booked profits
at prevailing levels amid easing demand in the spot market.Besides, sufficient stocks on higher arrivals
from the major producing regions too weighed on the prices. At the Multi Commodity Exchange,
cardamom for delivery in September contract fell by Rs 10.40, or 0.95 per cent, to Rs 1,085 per kg, in a
business turnover of 53 lots. Similarly, the spice for delivery in October edged down by Rs 7.80, or 0.74
per cent, to Rs 1,045.90 per kg, with trading volume of just one lot. Marketmen said besides profit-taking
by speculators at existing levels, increased arrivals from producing regions, mainly put pressure on
cardamom prices in the futures market.

CRUDE PALM OIL - ( 18 - AUG - 2017 )

Crude palm oil prices were higher by 0.68 per cent to Rs 486.60 per 10 kg in futures trade today as traders
created fresh positions, supported by pick up in demand at the spot market. Moreover, a tight stock
position because of fall in supplies from producing belts fuelled the uptrend. At Multi Commodity
Exchange, crude palm oil for delivery in August rose by Rs 3.30, or 0.68 per cent, to Rs 486.60 per 10 kg,
in a business turnover of 170 lots. Similarly, the oil for delivery in September month went up by Rs 3.10,
or 0.64 per cent, to Rs 486.80 per 10 kg in 121 lots. Analysts said building up of positions by participants
driven by pick-up in demand at the spot market against restricted supplies from producing regions mainly
kept crude palm oil prices higher in futures trade.

TURMERIC- ( 18 - AUG - 2017 )

Turmeric prices were up by 0.59 per cent to Rs 7,744 per quintal in futures trade today on account of
uptick in domestic as well as exports demand. Besides, restricted supplies following damage to crops due
to heavy rains too fuelled the uptrend. At the National Commodity and Derivatives Exchange, turmeric
for delivery in current month was trading higher by Rs 46, or 0.59 per cent, to Rs 7,744 per quintal, with
an open interest of 6,715 lots. Similarly, the spice for delivery in September contract increased by Rs 38,
or 0.48 per cent, to Rs 7,832 per quintal in 12,420 lots. Analysts said fresh positions created by traders
following an upsurge in domestic as well as export demand in the spot market against restricted supplies
from producing regions, mainly pushed up turmeric prices at futures trade.

CHANA FUTURES UP 1.52% ON SPOT DEMAND - ( 18 - AUG - 2017 )

Chana prices spurted by 1.52 per cent to Rs 5,152 per quintal in futures trade today as participants created
fresh positions, driven by rising demand from dal mills in the spot market. At the National Commodity
and Derivatives Exchange, chana for delivery in October increased by Rs 77, or 1.52 per cent to Rs 5,152
per quintal with an open interest of 12,270 lots. Likewise, the commodity for delivery in September shot
up by Rs 60, or 1.17 per cent, to Rs 5,182 per quintal in 15,860 lots. Analysts said fresh positions built up
by traders due to rising demand from dal mills in view of festive season amid restricted supplies from
producing belts, mainly pushed up chana prices at futures trade.

REFINED SOYA OIL FUTURES SOFTEN 0.41% ON SLUGGISH DEMAND - ( 17 - AUG - 2017 )
Refined soya oil prices moved down by 0.41 per cent to Rs 636 per 10 kg in futures trading today as
speculators reduced their exposure amid subdued demand in the spot market against ample stocks
position. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August
month fell by Rs 2.60, or 0.41 per cent to Rs 636 per 10 kg with an open interest of 33,390 lots. Likewise,
the oil for delivery in September month contracts shed Rs 2.35, or 0.36 per cent to Rs 642.65 per 10 kg in
48,790 lots. Analysts said cutting down of positions by traders on the back of easing demand in the spot
market against adequate stocks position mainly weighed on refined soya oil prices in futures trade.

AMPLE STOCKS DRAG WHEAT FUTURES DOWN BY 0.78% - ( 16 - AUG - 2017 )

Wheat prices were lower by 0.78 per cent to Rs 1,654 per quintal in futures trade today as speculators
reduced their exposure amid sufficient stock position at the spot market. At the National Commodity and
Derivatives Exchange, wheat for delivery in September fell by Rs 13, or 0.78 per cent, to Rs 1,654 per
quintal with an open interest of 9,230 lots. Likewise, the wheat for delivery in August contracts traded
lower by Rs 12, or 0.73 per cent, to Rs 1,633 per quintal in 12,930 lots. Analysts said trimming of
positions by traders, triggered by sufficient stockists position on increased supplies in the physical market
against lower demand from flour mills, mainly influenced wheat prices at futures trade.

CARDAMOM FUTURES SLIDE 0.78% ON LOW DEMAND - ( 16 - AUG - 2017 )

Cardamom prices eased 0.78 per cent to Rs 1,098 per kg in futures trade today as speculators cut down
their positions, tracking a weak trend at spot markets on muted demand. In futures trading at the Multi
Commodity Exchange, cardamom for delivery in September month declined by Rs 8.60, or 0.78 per cent
to Rs 1,098 per kg in business turnover of 19 lots. Analysts said offloading of positions by participants
owing to subdued demand in the physical markets against adequate stocks mainly weighed on cardamom
prices in futures trade.

TEPID DEMAND DRAGS CRUDE PALM OIL FUTURES DOWN BY 0.21% - ( 15 - AUG - 2017 )
Crude palm oil prices softened by 0.21 per cent to Rs 480.50 per 10 kg in futures trade today, as
speculators reduced their exposure amid sluggish demand in the spot market against adequate stock
position. At Multi Commodity Exchange, crude palm oil for delivery in August declined by Re 1, or 0.21
per cent to Rs 480.50 per 10 kg in business turnover of 14 lots. Similarly, the oil for delivery in
September contracts shed 80 paise, or 0.17 per cent, to Rs 480.50 per 10 kg in 9 lots. Analysts said
trimming of positions by traders following easing demand in the spot market against ample stocks mainly
led to decline in crude palm oil prices at futures trade.

MENTHA OIL FUTURES SLIP 2.04% ON PROFIT-BOOKING - ( 14 - AUG - 2017 )

Mentha oil prices drifted lower by 2.04 per cent to Rs 1,158 per kg in futures market today as speculators
booked profits, driven by fading demand from consuming industries at the spot markets. Ample stocks
position on higher supplies from producing regions also fuelled the downtrend. At the Multi Commodity
Exchange, mentha oil for delivery in September month fell by Rs 24.10, or 2.04 per cent, to Rs 1,158 per
kg in business turnover of 97 lots. On similar lines, the oil for delivery in August month contracts traded
lower by Rs 22.70, or 1.94 per cent to Rs 1,147 per kg in 529 lots. Marketmen said besides profit-booking
by participants, decline in demand from consuming industries at existing levels in spot market and ample
stocks position on higher supplies from Chandausi in Uttar Pradesh pulled down mentha oil prices in
futures trade.
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