Friday, June 09, 2017 MAJOR COMMODITIES. News & Development. For Private Circulation Only

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1 Friday, June 09, 2017 For Private Circulation Only MAJOR COMMODITIES Commodity Expiry High Low Close Change Commodity Expiry High Low Close ($) Change Gold Aug Gold (Oz) Aug Silver Jul Silver (Oz) Jul Crude Oil Jun Crude Oil Jul Natural Gas Jun Natural Gas Jul Copper Jun Copper 3M Nickel Jun Nickel 3M Aluminium Jun Aluminium 3M Lead Jun Lead 3M Zinc Jun Zinc 3M News & Development The European Central Bank closed the door on more interest rate cuts on Thursday, judging the euro zone economy to be rebounding, but said inflation looks to remain weak for years so it still needs to pump out the cash.

2 Gold Gold prices extended losses into a second session on Thursday as the dollar strengthened and as investors viewed the testimony from former U.S. FBI director James Comey as containing no significant surprises. Investors still await the outcome of Britain's national election and opinion polls on the eve of the election showed Theresa May's Conservative Party leading between 5 and 12 percentage points over the main opposition Labour Party, suggesting she would increase her majority. Earlier in the session, the euro declined after the European Central Bank cut its forecasts for inflation and said that policymakers had not discussed scaling back its massive bond-buying programme. Comey told the Senate Intelligence Committee he believed President Donald Trump had directed him to drop a Federal Bureau of Investigation probe into former national security adviser Michael Flynn as part of the broader Russia investigation. However, he did not make any major new revelations about alleged links between Trump or his associates and Russia. Technical Gold Strategy S2 S1 Close R1 R2 Aug Sideways We expect gold prices to trade sideways on the back of profit booking after sharp up move in prices. Silver Silver lost 1 percent to $ Technical Silver Strategy S2 S1 Close R1 R2 Jul Sideways We expect silver prices to trade sideways on the back of profit booking after sharp up move in prices. Page 2

3 Crude Oil Oil prices fell again on Thursday, with a sell-off continuing the day after data showed a surprise surge in U.S. crude inventories, and Brent settled at its lowest since Nov. 29, the eve of an OPEC production cut deal. Oil prices have slipped below $50 a barrel despite a pledge by the world's largest exporters, led by the Organization of Petroleum Exporting Countries, to extend a cut in production of 1.8 million barrels per day (bpd) into next year. OPEC agreed to output cuts in November, and shortly after that Russia and other non-opec producers also agreed to cut production in an effort to reduce a global glut that has forced prices into a steep and longlasting slump. Last month the countries agreed to extend the cuts, yet global supplies of crude remain strong, especially in the United States where booming shale production has the country on track to rival Saudi Arabia and Russia in crude output. On Wednesday, prices fell 5 percent after data showed U.S. inventories of crude oil and gasoline surprisingly rose last week. Technical Crude Oil Strategy S2 S1 Close R1 R2 Jun Sideways We expect crude oil prices to trade sideways on the back of short covering after sharp drop in prices. Natural Gas We expect Natural gas prices to trade negative on the back of unfavorable weather conditions. Technical Nat Gas Strategy S2 S1 Close R1 R2 June R \ Page 3

4 Base Metals Copper posted its biggest one-day rise since early April on Thursday as better than expected Chinese economic data allayed some concerns about oversupply, prompting a bigger bounce off this week's near three-week low. China reported stronger than expected exports and imports for May despite falling commodity prices, suggesting the economy is holding up better than feared. China's unwrought copper arrivals also jumped month on month. The ECB kept its money taps wide open on Thursday but dropped a reference to possible interest rate cuts, an unexpectedly hawkish move as euro zone growth accelerates. Technical May/Jun* Strategy S2 S1 Close R1 R2 Copper* Sideways Nickel Sideways Alum Sideways Lead Sideways Zinc Sideways We expect base metal prices likely to trade volatile on the back of mixed fundamentals. LME Inventories Copper Lead Zinc Aluminium Nickel Current Stock Change % Change % -0.58% -0.51% -0.27% -0.37% Page 4

5 DATE TIME (IST) COUNTRY ECONOMIC DATA CONSENSUS PREVIOUS IMPACT Fri Jun 9 2:00pm GBP Manufacturing Production m/m 0.80% -0.60% High 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