Monday, August 28, 2017 For Private Circulation Only MAJOR COMMODITIES Commodity Expiry High Low Close Change Commodity Expiry High Low Close ($) Change Gold Oct 29224 28777 29167 68 Gold (Oz) Oct 1297.70 1277.00 1294.50 5.90 Silver Sep 39288 38313 39012 152 Silver (Oz) Sep 17.18 16.72 17.05 0.09 Crude Oil Sep 3073 3041 3058 17 Crude Oil Oct 47.91 47.39 47.87 0.44 Natural Gas Aug 188.30 184.60 185.00-4.20 Natural Gas Sep 2.95 2.88 2.89-0.06 Copper Aug 430.95 425.55 427.55-1.00 Copper 3M 6731.50 6576.00 6696.00 112.50 Nickel Aug 747.40 725.60 729.30-19.60 Nickel 3M 11780.00 11610.00 11745.00-40.00 Aluminium Aug 133.30 130.95 131.30-2.05 Aluminium 3M 2122.50 2088.50 2098.00-11.00 Lead Aug 150.85 146.95 147.30-2.35 Lead 3M 2406.00 2346.00 2359.00-28.00 Zinc Aug 200.40 195.05 195.50-3.70 Zinc 3M 3141.00 3097.00 3111.50 4.50 News & Development Hurricane Harvey strengthened into a powerful Category 3 storm on Friday as it took aim at Texas, the U.S. National Hurricane Center said. Monday is a market holiday in Britain and the London Metal Exchange will be closed.
Gold Gold firmed on Friday after U.S. Federal Reserve Chair Janet Yellen made no mention of monetary policy in her much-anticipated speech, while investors awaited clues from European Central Bank President Mario Draghi. U.S. short-term interest rate futures rose slightly, reflecting reduced expectations that the Fed will raise interest rates further this year, after Yellen skipped mention of it when speaking in Jackson Hole, Wyoming. Gold is highly sensitive to rising interest rates, which increase the opportunity cost of holding non-yielding bullion while boosting the greenback. Monday is a bank holiday in the United Kingdom. Earlier, Dallas Fed President Robert Kaplan called for patience on raising interest rates any further but urged speed in reducing the Federal Reserve's balance sheet. U.S. data showed home resales unexpectedly fell in July to an 11-month low as a chronic shortage of properties boosted prices, the latest sign that the housing market recovery was slowing. Weekly jobless claims rose, and new orders for key U.S.-made capital goods were better than expected in July. Gold Strategy S2 S1 Close R1 R2 Oct Sideways 29000 29100 29167 29300 29400 We expect gold prices to trade sideways on the back of profit booking after sharp up move. Silver Silver rose 0.9 percent to $17.07 an ounce. Silver Strategy S2 S1 Close R1 R2 Sep Sideways 38500 38800 39012 39300 39600 We expect silver prices to trade sideways on the back of profit booking after sharp up move. Page 2
Crude Oil Oil prices rose nearly 1 percent on Friday as the dollar fell and the U.S. Gulf Coast braced for Hurricane Harvey, on track to become the biggest storm to hit the United States mainland in more than a decade. The dollar.dxy, in which oil is priced, fell after Federal Reserve Chair Janet Yellen made no reference to U.S. monetary policy in her speech at the annual central bank research conference in Jackson Hole, Wyoming. Harvey strengthened into a powerful Category 3 storm, last located about 75 miles (120 km) east-southeast of Corpus Christi, Texas, in the Gulf of Mexico and packing top sustained winds of 120 miles per hour (195 kph), the National Hurricane Center said. Refineries, terminals, onshore and offshore production operations and other infrastructure have shut or begun storm preparations with Harvey set to make landfall on the Texas coast on Friday night or early on Saturday. The NHC, which has warned that catastrophic flooding was expected across portions of southern and southeastern Texas, expects Harvey to move slowly and linger over Texas for days. Some tracking models show the storm could circle back out over Gulf waters after making landfall, and then take aim at Houston midweek, giving the nation's four most populous city a double dose of rain and wind. Crude Oil Strategy S2 S1 Close R1 R2 Sep Buy @ S1 3000 3030 3058 3100 3130 We expect crude oil prices to trade positive on the back of Hurricane Harvey. Natural Gas We expect Natural gas prices to trade negative on the back of profit booking after sharp up-move in prices. Nat Gas Strategy S2 S1 Close R1 R2 Aug Sideways 181 183 185 187 189 \ Page 3
Base Metals Copper futures retreated from their highest levels in 33 months on Friday as investors locked in profits from a rally and adjusted positions before a long weekend. Monday is a market holiday in Britain and the London Metal Exchange will be closed. Aug Strategy S2 S1 Close R1 R2 Copper Sideways 424 426 427.5 429 431 Nickel Sideways 715 725 729.3 735 745 Alum Sideways 129.5 130.5 131.3 132 133 Lead Sideways 145 146 147.3 149 150 Zinc Sideways 193 194 195.5 197 198 We expect base metal prices likely to trade sideways as LME is closed on account of Summer bank holiday. LME Inventories Copper Lead Zinc Aluminium Nickel Current Stock Change % Change 240825 148200 246325 1321600 387450-4225 -50-200 7125 2250-1.72% -0.03% -0.08% 0.54% 0.58% Page 4
For Further Assistance Contact: - 022-40934000 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. 00304 MCX, FMC Regn.No. 12240 Genius, 4 th Road, Khar (W), Mumbai 400 052. Tel.: 022-6698 0636 Fax: 022-6698 0606 E-mail: commodities@sushilfinance.com www.sushilfinance.com Page 5