Commodity Outlook

Precious Metals | Base Metals | Energy Oct 06 2017

PRECIOUS METALS
MARKET ROUNDUP

PRECIOUS METALS MARKET WATCH Precious metals prices dipped on

Thursday after strong U.S. economic
data lifted the dollar and underlined
Precious Metals Contract Open High Low Close Change % Chng expectations that U.S. interest rates
MCX Gold Rs. DEC7 29367 29430 29310 29337 47 0.16 would be hiked.
COMEX Gold $ DEC7 1277.5 1281.6 1268.5 1273.2 -3.6 -0.28

MCX Silver Rs. DEC7 39049 39320 39005 39172 86 0.22

COMEX Silver $ DEC7 16.61 16.65 16.61 16.63 -0.01 -0.05

LONDON FIXING

A.M. FIXING P.M. FIXING IN FOCUS

Gold 1278.4 1274.5
SPDR Gold Trust GLD, the world's
Silver Fix AM
largest gold-backed exchange-
traded fund, said its holdings
US $ INDEX
stood at 856.08 tonnes, remain
Close % Change unchanged from previous
US $ INDEX 93.46 0.54 business day.

Holdings of the largest silver-

ETF HOLDINGS AS ON PREVIOUS CLOSE
backed exchange-traded-fund
ETF In tonnes Change (ETF), New York's iShares Silver
Trust SLV, stood at 10129.51 down
SPDR Holding 856.08 00.00
29.37 tonnes, from previous
iShares Holding 10129.51 29.37
business day.

FOREX MARKET WATCH

Currency Open High Low Close Change % Chng

USD/INR 65.1 65.2 64.98 65.15 0.12 0.18
USD/JPY 112.77 112.94 112.42 112.77 0.06 0.05

EUR/USD 1.18 1.18 1.17 1.18 0 -0.41

FUNDAMENTAL OUTLOOK

Precious metals are trading lower on COMEX today. We expect prices to

trade range bound for the day, ahead of key U.S. jobs data later in the day,
with prices curbed as the U.S. dollar stood firm near a seven-week high.

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 Commodity Outlook
Precious Metals | Base Metals | Energy Oct 06 2017

BASE METALS
MARKET ROUNDUP

BASE METALS MARKET WATCH Industrial metal zinc prices ran out
of steam on Thursday after hitting a
10-year high, although the metal
Base Metals Contract Open High Low Close Change % Chng
found support from declining
MCX Copper Rs. Nov -07 428 439.8 427.55 439.6 12.9 3.02 inventories and strong demand.
LME Copper $ 3M 6570 6700 6554 6700 179 2.74

MCX Zinc Rs. Oct-07 214.65 217.4 214.5 216.85 1.8 0.84

LME Zinc $ 3M 3296 3294 3288 3288 -14 -0.42

MCX Nickel Rs. Oct-07 692.7 697.2 685 690.3 1.4 0.2
IN FOCUS
LME Nickel $ 3M 10620 10600 10535 10535 -80 -0.75

MCX Lead Rs. Oct-07 165.55 169.2 165.35 168.9 3 1.81 The U.S. Commerce Department
LME Lead $ 3M 2558 2592 2557 2592 32 1.25 said on Thursday it would defer
MCX Aluminum Oct-07 139.8 140.7 139.05 140.65 0.7 0.5
issuing its preliminary
determination in an anti-dumping
LME Aluminum 3M 2149 2171 2147 2171.5 5.5 0.25
duty probe into imports of
aluminum foil from China.
SHANGHAI MARKET WATCH INDICES
Plans to reopen one of the world's
Metals Close Change %Chng Index Close Change biggest copper mines, shut by a
Aluminum 16280 -70 -0.43 Baltic Dry Index 1382 62 civil war on the Pacific Island of
Copper 50360 20 0.04 CRB Index 2912.81 4.39 Bougainville in 1989, have run
Zinc 26055 -30 -0.12 DJ Commodity - -
into trouble. The quarter of a
million people of Bougainville are
LME WAREHOUSE STOCK INDICES tentatively scheduled to vote on
independence from Papua New
Metals Prev. Net Total Metals L/W* C/W* Change
Guinea in June 2019, and revenue
Copper 298525 -2450 296075 Copper 227550 68525 -1250 from the reopening of the
Zinc 251750 -675 251075 Zinc 113475 137600 -950 Panguna mine is essential for the
Nickel 387828 -606 387222 Nickel 251634 135588 -1494
otherwise impoverished island to
have any chance of flourishing if
Lead 156400 -875 155525 Lead 100500 55025 -875
it becomes the world's newest
Aluminium 1251700 -2350 1249350 Aluminium 1004925 244425 -2350
nation.

FUNDAMENTAL OUTLOOK
Industrial metals are trading mix on International bourses today. We expect
prices to trade range bound for the day, amid holiday-thinned trading in
Asia, but prices were curbed by a strong U.S. dollar.

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 Commodity Outlook
Precious Metals | Base Metals | Energy Oct 06 2017

ENERGY
MARKET ROUNDUP

Crude oil prices rose about 2

ENERGY MARKET WATCH
percent on Thursday as signs Saudi
Energy Contract Open High Low Close Change % Chng
Arabia and Russia would limit
production through next year
MCX Crude OCT-07 3287 3304 3248 3266 -45 -1.38
pushed the U.S. benchmark back
NYM Crude NOV-07 49.88 51.22 49.85 50.79 0.81 1.62
above $50 a barrel.
MCX Natgas OCT-07 191 194.5 189.7 192.1 1.4 0.73

NYM Natgas NOV-07 2.93 3 2.89 2.92 -0.02 -0.58

IN FOCUS
INDICES EXCHANGE VOLUME
Saudi Arabia made no firm
pledge on Thursday to extend a
Index Close Change Exchange Volume (in crores)
deal between OPEC, Russia and
Dirty Tanker Index 766 6 MCX 19230.20 other producers on cutting
Clear Tanker Index 617 -5 NCDEX 1830.57 supplies but said it was "flexible"
regarding Moscow's suggestion to
ENERGY INDICATORS prolong the pact until the end of
2018.
Date Time Energy Data Country Prior Consensus Actual
04-Oct 8.00pm Crude Stock U.S. -1.846 -0.756 -6.023 TransCanada Corp abandoned its
04-Oct 8.00pm Gasoline Stock U.S. 1.107 1.088 1.644 C$15.7 billion ($12.52 billion)
04-Oct 8.00pm Distillate Stock U.S. -0.814 -1.813 -2.606 cross-country Energy East
04-Oct 8.00pm Refinery Utilisation U.S. 5.4 -0.5 pipeline on Thursday amid
Stocks at Cushing mounting regulatory hurdles,
04-Oct 8.00pm Oklahama U.S. 1.181 1.525
Natural Gas dealing a blow to the country's oil
04-Oct 8.00pm Inventory U.S. 58 51 42 export ambitions.

Asian spot prices for liquefied

natural gas (LNG) edged to their
highest level since January this
week, as the market gradually
tightened ahead of the peak-
demand winter heating season
and as consumption in China
soars amid its huge gasification
programme.
FUNDAMENTAL OUTLOOK
President Tayyip Erdogan said on
Crude oil is trading lower on NYMEX today. We expect prices to trade range Thursday that Turkey would
bound for the day as traders monitored a tropical storm heading for the Gulf soon close its border with
of Mexico and as China remained closed for a week-long public holiday. northern Iraq and shut its air
space in response to last week's
Kurdish independence
referendum.

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 Commodity Outlook
Precious Metals | Base Metals | Energy Oct 06 2017

RESEARCH TEAM
NAME DESIGNATION E-MAIL

Kunal Shah Head of Research kunal.shah@nirmalbang.com

Devidas Rajadhikary Sr. Technical Analyst devidas.rajadhikary@nirmalbang.com

Harshal Mehta Sr. Technical Analyst harshal.mehta@nirmalbang.com

Mohammed Azeem Technical Analyst mohammed.gaziani@nirmalbang.com

Ravi Dsouza Research Analyst ravi.dsouza@nirmalbang.com

Smit Bhayani Research Associate smit.bhayani@nirmalbang.com

Shrishty Agarwal Research Associate shrishty.agarwal@nirmalbang.com

Disclaimer:

This Document has been prepared by N.B. Commodity Research (A Division of Nirmal Bang Commodities Pvt.
Ltd). The information, analysis and estimates contained herein are based on N.B. Commodities Research
assessment and have been obtained from sources believed to be reliable. This document is meant for the use of
the intended recipient only. This document, at best, represents N.B. Commodities Research opinion and is
meant for general information only. N.B. Commodities Research, its directors, officers or employees shall not in
any way be responsible for the contents stated herein. N.B. Commodities Research expressly disclaims any and
all liabilities that may arise from information, errors or omissions in this connection. This document is not to be
considered as an offer to sell or a solicitation to buy any securities. N.B. Commodities Research, its affiliates
and their employees may from time to time hold positions in securities referred to herein. N.B. Commodities
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Address: Nirmal Bang Commodities Pvt. Ltd., B2, 301 / 302, 3rd Floor, Marathon Innova, Opp. Peninsula
Corporate Park, Ganpatrao Kadam Marg, Lower Parel (W), Mumbai - 400 013, India

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