Commodities Evening Update

Wednesday | December 26, 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

Wednesday | December 26, 2012

International Commodities
News and Analysis Rupee appreciated 0.31 percent in todays session. Performance during the day
Index Open 5855.75 19302.47 10131.22 1992.10 N/A High 5916.95 19467.45 10230.36 2000.92 N/A

as at 4.30 pm 26 December12
Low 5855.75 19274.51 10107.34 1982.25 N/A Last 5905.60 19417.46 10230.36 1982.25 N/A % Chg from Prev day 0.85 0.84 1.49 0.02 N/A
Source: Reuters

Asian markets ended on a positive note taking cues from better earnings prospectes from China. US stock futures are trading on a firm note on optimism that talks might resume soon to avert the fiscal cliff issue. However, US fiscal cliff issue is still persistent as the issue is nearing the timeline thereby creating bearish market sentiments. Spot gold prices are trading on a flat note owing to worries over the fiscal cliff issue of the nation and pessimism that the US law makers might not be able to avert the US fiscal cliff issue of the nation. However, weakeness in the DX cushioned sharp fall in the prices. In the domestic market appreciation of Indian rupee exerted downside pressure on the gold prices. Spot silver prices were trading 0.17 percent higher on a positive note due to weakness in the DX and traced mild strength in the gold prices. However, weakness in the base metals pack capped gains in the silver prices. In the domestic markets prices fell due to appreciation in the Indian rupee. London Metal Exchange remained closed due to observance of Boxing day. In the domestic markets, appreciation in the Indian rupee acted as a bearish factor for the base metals prices. Copper prices on MCX were trading on a flat note as worries over the fiscal cliff issue in US and appreciation in the domestic currency exerted downside pressure on the copper prices. Copper prices are trading around Rs.436.45 per kg till 4:30 p.m. Crude oil prices traded 0.63 percent higher as US law makers prepare to discuss over the fiscal cliff issue of the nation. Weakness in the DX also supported an upside in the crude oil prices. In the domestic markets MCX crude oil prices are trading 0.14 percent higher tracing strength in the international prices. However appreciation in the Indian rupee capped gains in the crude oil prices. MCX crude oil prices are trading around Rs 4915 per bbl till 4:30 p.m.

Nifty Sensex Nikkei Kospi FTSE

as at 4.30 pm 26 December12
Currency Dollar Index Euro/$ Spot INR/$ Spot Open 79.74 1.3182 54.98 High 79.74 1.3213 55.10 Low 79.67 1.3169 54.80 Current 79.67 1.3212 54.84 % Chg from Prev day -0.09 0.23 -0.31
Source: Reuters

as at 4.30 pm 26 December12
Commodity Spot Gold Comex Gold Feb13 MCX Gold Feb13 Spot Silver Comex Silver Mar13 MCX Silver Mar 13 Crude Oil Nymex Jan 13 ICE -Brent Crude Oil MCX Crude Oil Jan 13 Copper LME - 3 Month MCX Copper Feb13 Zinc LME - 3 Month Zinc MCX - Dec12 Lead LME - 3 Month Lead MCX - Dec12 Nickel LME - 3 Month Nickel MCX Dec12 Aluminum LME - 3 Month Aluminum MCX Dec12 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

1657.74 1654.50 30727 29.91 28.23 57678 88.62 109.15 4918 7835.00 437.10 2081.00 112.40 2305 126.55 17470 950.70 2080.00 112.65

1659.00 1654.50 30768 30.00 30.085 57680 89.21 109.69 4924 7876.25 437.40 2094.00 112.60 2323 126.55 17470 951.00 2115.00 112.65

1649.94 1654.50 30681 29.80 29.925 57478 88.59 109.00 4904 7797.50 435.90 2060.00 112.15 2295 126.05 17168 945.30 2067.00 112.05

1658.50 1654.50 30694 29.91 29.839 57498 89.17 109.64 4915 7818.00 436.45 2071.50 112.30 2313 126.20 17315 946.80 2078.75 112.35

0.01 -0.25 -0.52 0.17 -1.01 -0.40 0.63 0.77 0.14 -0.36 0.03 -0.44 -0.09 0.40 -0.20 -0.51 -0.36 -0.20 0.04

Source: Reuters.

Commodities Evening Update

Wednesday | December 26, 2012

International Commodities
Outlook In the evening session, we expect precious, base metals and crude oil prices to trade with a bearish note as worries over the US fiscal cliff issue still persists causing risk aversion in the global markets which might increase the demand for the low yielding currency that is US Dollar Index. Thin trades might be witnessed today as most of the global markets remain closed due to Christmas vacations.

Technical Outook for evening session 26 December12 ( CMP as of 5.00 pm)

Commodity Gold Feb'13 Spot Gold Silver Mar13 Spot Silver Crude Oil Jan '13 Nymex Crude Oil Jan13 Natural Gas Dec12 Copper Feb 13 Zinc Dec12 Lead Dec12 Aluminum Dec12 Nickel Dec12 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 30497 1642 56916 29.46 4860 87.8 179.8 432.6 111.4 125.05 110.8 935.3 Support 1 30575 1648 57202 29.68 4884 88.4 183.4 434.5 111.9 125.75 111.55 942.7 CMP 30687 1656.6 57509 29.92 4914 89.16 185.5 436.45 112.3 126.25 112.3 947 Resistance1 30796 1665 57670 30.02 4924 89.35 188.7 438.7 112.65 126.85 112.95 956 Resistance 2 30887 1672 57956 30.24 4979 90.35 191.2 441.2 113.2 127.3 113.65 965

Important Events for Today

Indicator Monetary Policy Meeting Minutes German Bank Holiday Italian Bank Holiday Bank Holiday S&P/CS Composite-20 HPI y/y Country Japan Euro Euro UK US Time (IST) 5:20am All Day All Day All Day 7:30pm Actual Forecast 3.9% Previous 3.0% Impact Medium Medium