Monday, April 10, 2017 MAJOR COMMODITIES. News & Development. For Private Circulation Only

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1 Monday, April 10, 2017 For Private Circulation Only MAJOR COMMODITIES Commodity Expiry High Low Close Change Commodity Expiry High Low Close ($) Change Gold 05-Jun Gold (Oz) Jun Silver 05-May Silver (Oz) May Crude Oil 19-Apr Crude Oil May Natural Gas 26-Apr Natural Gas May Copper 28-Apr Copper 3M Nickel 28-Apr Nickel 3M Aluminium 28-Apr Aluminium 3M Lead 28-Apr Lead 3M Zinc 28-Apr Zinc 3M News & Development U.S. job growth slowed sharply in March amid continued layoffs in the embattled retail sector, but a drop in the unemployment rate to a near 10-year low of 4.5 percent suggested labor market strength remained intact. Russia warned on Friday that U.S. cruise missile strikes on a Syrian air base could have "extremely serious" consequences, as President Donald Trump's first major foray into a foreign conflict opened up a rift between Moscow and Washington. Drillers added 10 oil rigs in the week to April 7, bringing the total count up to 672, the most since August 2015, energy services firm Baker Hughes Inc said on Friday. Oil and gas output in Kazakhstan, the second biggest oil producer among former Soviet countries, rose 2 percent month-on-month in March to 7.4 million tonnes, preliminary energy ministry data showed on Friday. (Source: Reuters)

2 Gold Gold hit a five-month high on Friday after U.S. jobs data dampened expectations that the U.S. Federal Reserve will raise interest rates, but the metal gave up most gains as the dollar rose and safe haven demand ebbed. U.S. employers added the fewest number of workers in 10 months in March, boosting gold, which is most attractive to investors in a low interest rate environment. Gold was also underpinned by investors looking for safety after the United States fired cruise missiles at a Syrian air base, escalating tensions with Russia and Iran. Investors were cautious ahead of the meeting between U.S. President Donald Trump and Chinese President Xi Jinping, but Trump said on Friday he had made progress in talks and expected them to overcome many problems. Russia, a staunch ally of Syria, said relations between Washington and Moscow had been seriously damaged by the strike, which was in retaliation for a deadly chemical attack on a rebel-held area of Syria. Gold is often used as a hedge against political and financial uncertainty and security risks. It has benefited alongside other assets considered safe, such as the yen and U.S. Treasury bonds. Technical Gold Strategy S2 S1 Close R1 R2 Jun Sideways We expect gold prices to trade positive on the back of US military strikes in Syria. Silver Silver fell 1.4 percent to $17.97 an ounce, after touching $18.47, the highest since Feb. 27. It was on track for its first weekly loss in four. Technical Silver Strategy S2 S1 Close R1 R2 May Sideways We expect silver prices to trade positive on the back of US military strikes in Syria. Page 2

3 Crude Oil Oil prices rose on Friday, trading near a one-month high and closing the week up 3 percent after the United States fired missiles at a Syrian government air base, raising concern that the conflict could spread in the oil-rich region. The toughest U.S. action yet in Syria's six-year-old civil war has heightened geopolitical uncertainty in the Middle East. This supported oil futures, along with signs of higher U.S. demand. The market shrugged off a report showing U.S. drillers added oil rigs for a 12th straight week to cash in on a recovery in crude prices. Oil drillers increased the number of active oil rigs by 10, according to Baker Hughes. Although Syria is not a major oil producer, any escalation of the conflict feeds fears about oil supplies due to the country's location and alliances with big oil producers in the region. Oil, gold, foreign exchange and bond markets reacted strongly to the attack but moderated some of their sharp moves after monthly U.S. employment figures came in weaker than expected. Traders eyed news from Canada, where two oil sands producers have cut production due to a shortage of synthetic crude following a plant fire. In bearish news, non-opec producer Kazakhstan raised production last month despite its pledge to cut output by 20,000 barrels per day in the first half of Technical Crude Oil Strategy S2 S1 Close R1 R2 Apr Sideways We expect crude oil prices to trade negative on the back of profit booking after an up-move. Natural Gas U.S. natural gas futures edged higher on Thursday, extending gains after data showed that natural gas supplies in storage in the U.S. rose less than expected last week. U.S. natural gas for May delivery tacked on 5.0 cents, or around 1.5%, to $3.316 per million British thermal units. Futures were at around $3.290 prior to the release of the supply data. It settled lower on Wednesday after touching its strongest January 27 at $ The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 2 billion cubic feet in the week ended March 31, compared to forecasts for a build of 7 billion. That compared with a withdrawal of 43 billion cubic feet in the preceding week, a gain of 12 billion a year earlier and a five-year average drop of 13 billion cubic feet. Total natural gas in storage currently stands at trillion cubic feet, according to the U.S. Energy Information Administration, 17.2% lower than levels at this time a year ago but 12.9% above the five-year average for this time of year. Technical Nat Gas Strategy S2 S1 Close R1 R2 Apr Sideways \ We expect Natural gas prices to trade sideways on the back of short covering after drop in prices. Page 3

4 Base Metals Copper fell on Friday after a U.S. missile strike on Syria prompted investors to move out of riskier assets while the biggest sell-off in Chinese steel futures in two months spilled over into industrial metals. We expect base metal prices likely to trade volatile on the back of mixed fundamentals. Technical Feb Strategy S2 S1 Close R1 R2 Copper R Nickel R Alum R Lead Sideways Zinc Sideways LME Inventories Copper Lead Zinc Aluminium Nickel Current Stock Change % Change % -1.58% -0.28% -1.02% -0.23% Page 4

5 For Further Assistance Contact: Ashish Shah Tejas Nikhar Devashish Srivastava AVP ashish.shah@sushilfinance.com Sr. Research Analyst tejas.nikhar@sushilfinance.com Research Analyst devashish.srivastava@sushilfinance.com WE / OUR CLIENTS / OUR RELATIVES MAY HAVE PERSONAL TRADING / INVESTMENT INTEREST IN THE STOCKS MENTIONED HERE IN. STATEMENT OF DISCLAIMER This report includes information from sources believed to be reliable but no independent verification has been made and we do not guarantee its accuracy or completeness. Opinions expressed are subject to change without notice. This report cannot be construed as a request to engage in any transaction involving the purchase or sale of a futures contract. The risk of loss in trading futures contracts can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. Additional information with respect to any commodities referred to herein will be available on request. Sushil Global Commodities Pvt. Ltd. and its connected companies, and their respective Directors, Officers and employees, may, from time to time, have a long or short position in the commodities mentioned and may sell or buy such commodities. Sushil Global may act upon or make use of information contained herein prior to the publication thereof. This data sheet is for private circulation only. While utmost care has been taken in preparing the above, we claim no responsibility for its accuracy. We shall not be liable for any direct or indirect losses arising from the use thereof and the investors are requested to use the information contained herein at their own risk. Sushil Global Commodities Private Limited Member: NCDEX, FMC Regn.No MCX, FMC Regn.No Genius, 4 th Road, Khar (W), Mumbai Tel.: Fax: commodities@sushilfinance.com Page 5