Daily Market Update Report as on Wednesday, October 17, 2018

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Daily Market Update Report as on Wednesday, October 17, 2018 Gold on MCX dropped as pressure seen after Rupee recovered while Comex Gold edged up Tuesday to mark another finish at their highest since

1 Daily Market Update Report as on Wednesday, October 17, 2018 Gold on MCX dropped as pressure seen after Rupee recovered while Comex Gold edged up Tuesday to mark another finish at their highest since July, but a rally in the U.S. stock market limited the gains for the precious metal. Recent dollar weakness has defied the stronger trend that has persisted in the buck in the year so far, a rise fueled by monetary policy tightening at the Fed. The Fed has hiked interest rates three times this year and may do so a fourth time before year-end, which could provide some resistance to gold bulls because rising rates are likely to juice the dollar and make risk-free government bonds a more attractive investment when compared against bullion. India s Gold Buyers See Prices Surge in the Run-Up to Diwali - Gold buyers in India, the biggest market after China, may give jewelry stores a miss in the run-up to the Diwali festival this year because of a surge in domestic prices to the highest level in more than two years. The most auspicious day of the year to buy gold is Dhanteras, which falls on Nov. 5, two days before the Hindu festival of Diwali. Wearing or gifting of jewelry is thought to bring good fortune during celebrations and weddings. The last quarter of the year is the season of peak demand, with Indians buying almost 240 metric tons on average in the past four years, according to the World Gold Council. Shipments of gold to India, the world's second-biggest buyer of bullion, rose 51.5 percent last month - India's crude oil imports in September touched $10.91 billion, up 33.6 percent from a year ago, Indian government data showed on Monday. While Shipments of gold to India, the world's second-biggest buyer of bullion, rose 51.5 percent last month, the data from India's trade ministry showed. India last week announced tariff hikes on several electronic items and communication devices, in a bid to rein in imports and bolster a weak rupee, but did not levy additional duties on gold to prevent increased smuggling of the precious metal. Hungary's Central Bank Joins Poland to Buy Gold as GLD Expands Again, India 'Robust' Ahead of Diwali - Demand to buy gold from central banks led bullion-market headlines on Tuesday, while the metal held near yesterday's 12-week highs versus a falling US Dollar. World stock markets bounced from their week-long drop, but London's FTSE index held flat as UK Prime Minister Theresa May met with her Cabinet to try and rescue her "Chequers Deal" proposals for next March's Brexit a plan rejected by the EU as well as many of her own Conservative Party MPs. Monday's rise in bullion prices saw investors move to buy gold exposure through ETF trust fund products, led by the third daily growth in 4 sessions for the largest such fund, the SPDR Gold Trust. Modi govt's Sovereign Gold Bonds Scheme makes gold cheaper this festive season - Keeping in mind the enthusiasm of Indians for buying gold, Modi government has launched a Sovereign Gold Bonds that has made gold cheaper this festive season. Investing in gold is much more easy and convenient now. It can be bought directly from the government by giving five installments till February, The scheme will be open till October 19 and the bonds will be issued on October 23. The price of the Gold Bond is three percent less than the current market rate. SHCIL, designated post offices, and stock exchanges BSE and NSE will be selling the Gold Bond. Date Gold* Silver* 16 Oct 2018 (Tuesday) Oct 2018 (Monday) Oct 2018 (Friday) The above rate are IBJA PM rates * Rates are exclusive of GST 16 Oct 2018 (Tuesday) Page 1

Market View Open MCX GOLD 32072.00 High 32160.00 32378.00 Low 31851.00 32269.00 Close 31868.00 32069.00 Value Change -198.00 31760.00 % Change -0.62 31651.00 Margin 5.00 31451.00 Margin (Rs.

2 Market View Open MCX GOLD High Low Close Value Change % Change Margin Margin (Rs.) Volume Open Interest Cng in OI (%) Daily Levels Resistance Support Outlook: Gold remained in range amid rise in equities, with investors waiting for minutes from the U.S. Federal Prev Value(Mln) Reserve s latest policy meeting for any fresh clues on the pace of interest rate hikes. For the day prices a jump towards will look to sell with a stoploss of above expecting prices to drop towards Week High APR - FEB level. 52 Week Low Spread FEB - DEC Gold on MCX settled down -0.62% at as pressure seen after Indian Rupee climbed 35 paise to end at nearly two-week high of per dollar amid softening crude oil prices and easing concerns over the trade deficit. While Comex Gold prices settled slightly higher ended with gains of $0.70 to settled at $1, an ounce as the dollar stayed sluggish against some major currencies, ahead of the release of the minutes of the FOMC's September meeting. It appears uncertainty about near term global economic growth and geopolitical worries prompted traders to pick up the yellow metal. Despite rising geopolitical worries after the disappearance of Saudi Arabian journalist Jamal Khashoggi and the subsequent spat between the U.S. and Saudi Arabia, stock markets are moving higher, due largely to some better than expected earnings. Gold is still down about 9% from its April peak, as the dollar had benefited from early signs of the Fed s preference for a higher-for-longer interest rate plan. US President Donald Trump s renewed attacks on the Fed s policy tightening have also highlighted the political pressure on the U.S. central bank. Former Fed Chief Janet Yellen reportedly warned Monday that the president s remarks were essentially damaging to the Fed and to financial stability, adding that she did not believe that it was a desirable thing for a president to comment so explicitly on Fed policy. From physical side in India demand is very low this year as the higher prices are trimming the amount of gold being bought. Technically market is getting support at and below same could see a test of level, And resistance is now likely to be seen at 32069, a move above could see prices testing Page 2

3 INT. GOLD$ Market View Daily Levels Open High Low Close Value Change % Change Resistance Support Outlook: Gold price returns to fluctuate within sideways track after testing again, while stochastic begin to provide positive overlapping signal that we expect to push the price to resume the bullish trend, which its next target located at , while its continuation conditions holding above Gold prices settled slightly higher ended with gains of $0.70, or about 0.06%, at $1, an ounce as the dollar stayed sluggish against some major currencies, ahead of the release of the minutes of the FOMC's September meeting. It appears uncertainty about near term global economic growth and geopolitical worries prompted traders to pick up the yellow metal. Despite rising geopolitical worries after the disappearance of Saudi Arabian journalist Jamal Khashoggi and the subsequent spat between the U.S. and Saudi Arabia, stock markets are moving higher, due largely to some better than expected earnings. Gold is still down about 9% from its April peak, as the dollar had benefited from early signs of the Federal Reserve s preference for a higher-for-longer interest rate plan. But after the Fed increased rates for the third time this year, the recent spike in U.S. bond yields coupled with last week s downturn in U.S. equities (their largest weekly decline since March), have shifted demand from the greenback to gold. US President Donald Trump s renewed attacks on the Fed s policy tightening have also highlighted the political pressure on the U.S. central bank. Former Fed Chief Janet Yellen reportedly warned Monday that the president s remarks were essentially damaging to the Fed and to financial stability, adding that she did not believe that it was a desirable thing for a president to comment so explicitly on Fed policy. From physical side in India demand is very low this year as the higher prices are trimming the amount of gold being bought. Technically market is getting support at and below same could see a test of level, And resistance is now likely to be seen at , a move above could see prices testing Page 3

4 Rupee climbed 35 paise to end at nearly two-week high of per dollar amid softening crude oil prices and easing concerns over the trade deficit. Technically market is is getting support at and below same could see a test of level, And resistance is now likely to be seen at 73.84, a move above could see prices testing USDINR Market View Daily Levels Open High Low Close Value Change % Change Margin Margin (Rs.) Volume Open Interest Cng in OI (%) Prev Value(Mln) 52 Week High 52 Week Low Resistance Support Spread NOV - OCT DEC - NOV Rupee gained on selling by banks across segment along with exporters amid overseas fund inflows into local stocks. Meanwhile, local stocks extended gains as favourable trade data influenced buying from overseas and local fund as deficit fears ebbed. India s retail inflation rose marginally in September, nudged up by food and fuel prices, but short of the Reserve Bank of India s 4 percent medium-term target, strengthening views it could tighten monetary policy in December following unchanged rates last week. The monetary policy committee (MPC) of the RBI left the repo rate at 6.50 percent while reiterating its target of keeping consumer inflation at 4.00 percent in the medium term on a durable basis. In September, consumer prices rose 3.77 percent from a year earlier, compared with a 3.69 percent increase in August, the Statistics Ministry said. Slower inflation in food prices, which make up nearly half of India s consumer price index (CPI), has so far cancelled out rises in imported goods following the weakening rupee. Food inflation rose to 0.51 percent from a year earlier, against 0.29 percent in August. India is likely to overshoot its fiscal deficit target for 2018/19 by a small margin following its decision to cut fuel excise duties, Moody's Investors Service said, describing the move as "credit negative". The government announced cuts in excise duty on gasoline and diesel last week, to soften the impact of sharp rise in global crude oil prices on consumers. Technically now USDINR is getting support at and below same could see a test of level, And resistance is now likely to be seen at 73.84, a move above could see prices testing Page 4

5 Gold Spot 995 Gold Spot 999 Exch. Descr. Last* Exch. Descr. Last* CMDTY Gold Ahmedabad CMDTY Gold Ahmedabad CMDTY Gold Bangalore CMDTY Gold Bangalore CMDTY Gold Chennai CMDTY Gold Chennai CMDTY Gold Cochin CMDTY Gold Cochin CMDTY Gold Delhi CMDTY Gold Delhi CMDTY Gold Hyderabad CMDTY Gold Hyderabad CMDTY Gold Jaipur CMDTY Gold Jaipur CMDTY Gold Kolkata CMDTY Gold Mumbai CMDTY Gold Mumbai * Rates including GST * Rates including GST Silver Spot 999 Bullion Futures on MCX Exch. Descr. Last* Exch. Descr. Last CMDTY Silver Ahmedabad MCX GOLD 04AUG CMDTY Silver Bangalore MCX GOLD 05OCT CMDTY Silver Chennai MCX GOLD 05DEC CMDTY Silver Delhi MCX SILVER 05JUL CMDTY Silver Hyderabad MCX SILVER 05SEP CMDTY Silver Jaipur MCX SILVER 05DEC CMDTY Silver Kolkata CMDTY Silver Mumbai * Rates including GST Bullion Futures on DGCX Gold and Silver Fix Exch. Descr. Last Exch. Descr. Last DGCX GOLD 28NOV CMDTY Gold London AM FIX DGCX GOLD 29JAN CMDTY Gold London PM FIX DGCX GOLD QUANTO 29NOV CMDTY Silver London FIX DGCX GOLD QUANTO 30JAN DGCX SILVER 28NOV Gold / Silver Ratio DGCX SILVER 26FEB Exch. Descr. Last DGCX SILVER QUANTO 29NOV INTL. SPOT GOLD SILVER RATIO MCX MCX GOLD SILVER RATIO Page 5

6 Report is prepared for information purposes only. Kedia Stocks & Commodities Research Pvt Ltd. Mumbai. INDIA. Mobile: / info@kediacommodity.com URL: General Disclaimers: This Report is prepared and distributed by Kedia Stocks & Commodities Research Pvt Ltd. for information purposes only. The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale through KSCRPL nor any solicitation or offering of any investment /trading opportuni. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients of this Report should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. This Report has been prepared on the basis of publicly available information, internally developed data and other sources believed by KSCRPL to be reliable. IBJA and KSCRPL or its directors, employees, affiliates or representatives do not assume any responsibility for, or warrant the accuracy, completeness, adequacy and reliability of such information / opinions / views. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of IBJA and KSCRPL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained in this Report. The possession, circulation and/or distribution of this Report may be restricted or regulated in certain jurisdictions by appropriate laws. No action has been or will be taken by KSCRPL in any jurisdiction (other than India), where any action for such purpose(s) is required. Accordingly, this Report shall not be possessed, circulated and/ or distributed in any such country or jurisdiction unless such action is in compliance with all applicable laws and regulations of such country or jurisdiction. KSCRPL requires such recipient to inform himself about and to observe any restrictions at his own expense, without any liability to KSCRPL. Any dispute arising out of this Report shall be subject to the exclusive jurisdiction of the Courts in India. Page 6

Daily Market Update Report as on Monday, October 15, 2018

Daily Market Update Report as on Monday, October 15, 2018 Gold prices look firm this week as stocks eased due to concerns about a potential decline in China s economic growth amid an ongoing trade war