Metals Weekly Brought to you by Phillip Futures Sdn Bhd ( U) (A member of PhillipCapital)

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1 Metals Weekly Brought to you by Phillip Futures Sdn Bhd ( U) (A member of PhillipCapital) CME GOLD ($ , -0.52%) Market Commentary Highlights: U.S. - The US trade deficit widened for the second straight month in July, reaching the highest level since February, as imports hit an all-time high. U.S. - U.S. job growth accelerated in August and wages notched their largest annual increase in more than nine years. U.S. - The number of Americans filing for unemployment benefits fell to near a 49- year low last week, pointing to sustained labor market strength that should continue to underpin economic growth. U.K. - The services sector activity in the UK economy saw a solid upturn in the month of August. Precious Metals Gold prices headed lower on last Friday as the employment data showed a betterthan-expected job creation but a steady jobless. This would increase the chance that the Federal Reserve will follow through on two more interest rate hikes this year. Nonfarm payrolls surged by 201,000 jobs last month, boosted by hiring at construction sites, wholesalers and professional and business services. Average hourly earnings increased 0.4 percent, or 10 cents in August after rising 0.3 percent in July. The U.S. dollar index, which measures the greenback s strength against a basket of six major currencies, was down 0.1 percent at Holdings of the largest gold-backed exchange-traded-fund (ETF), New York's SPDR Gold Trust GLD, fell 0.03 percent to tonnes on Tuesday from Monday. Hedge funds and money managers cut their net short positions in COMEX gold contracts in the week to August 28 for the first time in more than a month, US Commodity Futures Trading Commission data showed. Key Price Changes Precious Metal COMEX Contract Gold Silver Platinum Palladium Base Metal LME Contract Copper Aluminium Lead Zinc Nickel Currencies Indexes US Dollar Index USDMYR USDJPY USDEUR LBMA Gold Price Bursa Gold Futures Contract SEP 18 OCT 18 Source: Bloomberg/ Phillip Futures Our Call of The Week: Bearish 11 September , , , , , , AM PM This week, market focus will be on the lookout for rate decisions by the Bank of England and the European Central Bank on Thursday, and the US Retail sales numbers on Friday. Gold has been trading in a range bound at $1,190 - $1,215 last week. Should gold closed below $1,200, gold price is likely proceed to test its next support at $1,180. Bursa Gold Bursa Gold futures contract on Bursa Malaysia Derivatives movement shall track the COMEX gold this week and likely to trade lower on a stronger US dollar. Some significant economy data for the week: U.S: PPI (Aug), Core CPI, Core Retail Sales, Initital Jobless CLaim Euro: ECB Interest Rate Decision UK: BoE Interest Rate Decision, Manufacturing Production Source: CFTC 1Phillip Futures Sdn Bhd

2 Metals Weekly CFTC Commodity Trader's Position Managed Net Positions on Gold Managed Net Positions on Silver Managed Net Positions on Copper Source : CFTC 2Phillip Futures Sdn Bhd

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5 Metals Weekly Bursa Gold Spot Gold, \ CME Gold Futures Source : Bloomberg ( U) Chang Hui Ying huiying@poems.com.my Carol Tze Woon, Liew carol.liew@poems.com.my CONTACT US: Kuala Lumpur Headquarters: Johor - Taman Sutera Utama Branch: Penang Branch: Malacca Branch: (+603) (+607) (+604) (+606) pfsb_dealing@poems.com.my pfjb@poems.com.my pfpg@poems.com.my pfmk@poems.com.my Kota Damansara Branch: Johor - Taman Molek Branch: Kuching Branch: (+603) (+607) (+6082) phillipfutures@poems.com.my pfjb@poems.com.my pfkc@poems.com.my Official Website: Official Facebook Page: DISCLAIMER This publication is solely for information only. It should not be construed as an offer or solicitation for the subscription, purchase or sale of the futures contracts mentioned herein. The publication has been prepared by Phillip Futures Sdn Bhd on the of publicly available information, internally developed data and other sources believed to be reliable. Whilst we have taken all reasonable care to ensure that the information contained in this publication is accurate and the opinions are fair and reasonable, it does not guarantee the accuracy or completeness of this publication. Accordingly, no warranty whatsoever is gi ven and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or g of persons acting on such information and advice. This publication was prepared without regard to your specific investment ob jectives, financial situation or particular needs. Whilst views and advice given are in good faith, you should not regard the publication as a substitute for the exercise of your own judgement and should seek other professional advice for your specifi c investment needs or financial situations. 5Phillip Futures Sdn Bhd

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