Commodity Premium Daily Journal

Strictly For Client Circulation

Tuesday, 17th
October 2017

Gold 29810

Silver 40248

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Market Wrapup
Monday, 16th October 2017

Commodity Contract Open Price High Low Close Price

Gold 05-Dec-2017 29839 29955 29813 29854

Silver 05-Dec-2017 40404 40632 40305 40341

Crude Oil 18-Oct-2017 3325 3389 3325 3363

Natural Gas 26-Oct-2017 195 195 188 190.8

Copper 30-Nov-2017 450 466.35 450 463.65

Zinc 31-Oct-2017 212.40 214.65 207.60 207.8

Lead 31-Oct-2017 165.5 166.75 163.75 164.35

Aluminium 31-Oct-2017 137.95 138.85 136.60 137.05

Nickel 31-Oct-2017 755.80 769.80 751.30 765.5

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Support & Resistance
Tuesday, 17th October 2017

Commodity Contract RES-2 RES-1 PIVOT SUP.1 SUP.2

Gold 05-Dec-2017 30016.00 29935.00 29874.00 29793.00 29732.00

Silver 05-Dec-2017 40753.00 40547.00 40426.00 40220.00 40099.00

Crude Oil 18-Oct-2017 3423.00 3393.00 3359.00 3329.00 3295.00

Natural Gas 26-Oct-2017 197.73 194.27 191.53 188.07 185.33

Copper 30-Nov-2017 476.35 470.00 460.00 453.65 443.65

Zinc 31-Oct-2017 217.07 212.43 210.02 205.38 202.97

Lead 31-Oct-2017 167.95 166.15 164.95 163.15 161.95

Aluminium 31-Oct-2017 139.75 138.40 137.50 136.15 135.25

Nickel 31-Oct-2017 780.70 773.10 762.20 754.60 743.70

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MCX Outlook
Tuesday, 17th October 2017

Base Metals struggling to break above resistance despite positive sentiment

ase Metals are trading near its previous highs but struggling to break above the levels since opening. Copper is trading at Rs.449.95 after
testing a high of Rs.450.75 whereas Nickel is gaining close to two percent to trade at Rs.755. Lead and Zinc is trading lower by about half a
percent each.

Base Metals are trading higher today a strong Chinese trade data which showed that exports grew at the pace of 8.1% whereas imports were
up 18.7% in dollar terms. Chinas September trade surplus was $28.47 billion which is also at its lowest since March.

While, base metals are being supported by supply-side issues and an overall bullish sentiment, the strong set of trade data from China should
also boost prices as we head in next week.

Crude Oil extends gains after a volatile session

Crude Oil pared losses from last evening is currently trading at Rs.3353, up 1.73% after inventories showing a sharp drop in storage last
evening.

Crude Oil is trading higher after the Paris based IEA said in its monthly report that the oil market is on its way to rebalancing despite the
recent supply woes.

IEA said that the oil demand has been relatively strong in the previous quarter and supply has been restricted partly due to effects of hurrica-
-nes in the US and due to efforts from Saudi and the OPEC to reduce supply in the global market.

The intraday bias and the short term trend continue to remain positive. Technically, a close above resistance at Rs.3360 should boost prices
higher to Rs.3380-Rs.3400 in the short term.

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Market News
Tuesday, 17th October 2017

Special News
Gold Prices Fall In Asia As Dollar Gains Deter, Safe-Haven Demand Eases
Gold prices fell in Asia on Tuesday as investors noted a stronger dollar and less appetite for safe-
haven plays weighed on sentiment and as physical demand in India for the holiday season has failed
to lift the futures market.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange fell
0.58% to $1,295.42 a troy ounce. Copper futures on the Comex dipped 0.22% to 3.235 a pound.

Overnight, gold prices held above $1300 on Monday shrugging off an uptick in the dollar and treasury yields as safe-haven demand
remained steady amid ongoing geopolitical uncertainty and concerns over the pace of U.S. interest rate hikes.

Crude Oil Down In Asia On Profit Taking As Tensions In Iraq Watched

Crude oil prices fell in Asia on Tuesday on profit taking after sharp gains on geopolitical tensions in
Iraq and Iran stoked buying.

On the New York Mercantile Exchange crude futures for November delivery fell 0.19% to $51.77 a
barrel, while on London's Intercontinental Exchange, Brent dipped 0.02% to $57.81 a barrel.

Later Tuesday the American Petroleum Institute (API) will release its estimates of U.S. crude and
refined product stocks to be followed by official data on Wednesday from the Energy Information Administration (EIA).

Crude oil inventories are seen down by 4.750 million barrels, while gasoline stocks are seen down by 1.0 million barrels and distillates off
by 1.5 million barrels. The API and EIA figures often diverge.

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Market News
Tuesday, 17th October 2017

Commodity Buzz
Nickel market under short covering; Support seen at 742.8
Technically Nickel market is under short covering as market has witnessed drop in open interest by 18.53% to settled at 12272 while prices
up 15.9 rupees.

Now MCX Nickel is getting support at 742.8 and below same could see a test of 729.3 levels and resistance is now likely to be seen at
763.6, a move above could see prices testing 770.9.

Nickel on MCX settled up 2.15% at 756.2 on concerns China might order output cuts in the sector as it ramps up efforts to clean its skies.
Chinas Communist Party Congress takes place next week and markets are growing concerned that Beijing will broaden efforts to eliminate
more polluting mines and metal plants, especially during the winter months.

Chinas import and export growth accelerated in September, data showed, suggesting the economy is still expanding at a healthy pace
despite widespread forecasts of an eventual slowdown.

MCX Zinc under long liquidation; Resistance seen at 215

Technically Zinc market is under long liquidation as market has witnessed drop in open interest by 13.99% to settled at 7811 while prices
down 3.1 rupees.

Now MCX Zinc is getting support at 210 and below same could see a test of 207.8 levels and resistance is now likely to be seen at 215, a
move above could see prices testing 217.8.

Zinc on MCX settled down -1.44% at 212.15 on profit booking after prices gained supported by efforts among Chinese cities to curb output
well ahead of winter. Indicating tight nearby supply, cash zinc traded at a premium of $91 a tonne to the three-month price, its highest level
on data going back to June 2009.

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Analyst Speaks
Tuesday, 17th October 2017

Gold MCX

Technically Gold market is under short covering as market has witnessed drop RESISTANCE 2 30016
in open interest by 10.22% to settled at 6086 while prices up 3 rupees.

RESISTANCE 1 29935
Now MCX Gold is getting support at 29793 and below same could see a test of
29732 levels and resistance is now likely to be seen at 29935, a move above
PIVOT 29874
could see prices testing 30016.

SELL GOLD DEC BELOW 29800 SUPPORT 1 29793

TGTS 29700/29600 SL 29900
SUPPORT 2 29732

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Analyst Speaks
Tuesday, 17th October 2017

CRUDE OIL MCX

Technically Crude Oil market is under short covering as market has RESISTANCE 2 3423
witnessed drop in open interest by 11.98% to settled at 7255 while
prices up 14 rupees.
RESISTANCE 1 3393
Now MCX Crude oil is getting support at 3288 and below same could see
a test of 3265 levels and resistance is now likely to be seen at 3346,
a move above could see prices testing 3381. PIVOT 3359

BUY CRUDEOIL OCT AROUND 3340-3350 SUPPORT 1 3329

TGTS 3380/3420 SL 3310
SUPPORT 2 3295

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Todays Economic Events
Tuesday, 17th October 2017

COUNTRY TIME EVENT ACTUAL FORECAST PREVIOUS

6:00pm Import Prices m/m 0.6% 0.6%

6:45pm Capacity Utilization Rate 76.2% 76.1%

USD
Industrial Production m/m 0.3% -0.9%

10:30pm FOMC Member Harker Speaks

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