Tuesday, September 19, 2017 For Private Circulation Only MAJOR COMMODITIES Commodity Expiry High Low Close Change Commodity Expiry High Low Close ($) Change Gold Oct 29820 29538 29547-309 Gold (Oz) Oct 1320.10 1304.30 1306.90-14.40 Silver Dec 40684 39601 39764-1050 Silver (Oz) Dec 17.68 17.11 17.16-0.55 Crude Oil Sep 3226 3158 3208 17 Crude Oil Oct 50.33 49.19 49.91 0.02 Natural Gas Sep 203.30 194.40 202.50 8.60 Natural Gas Oct 3.16 3.05 3.15 0.12 Copper Nov 425.20 420.50 422.70 2.60 Copper 3MF 6584.50 6502.00 6532.00 44.00 Nickel Sep 719.80 707.30 714.60 4.00 Nickel 3MF 11260.00 11060.00 11170.00 45.00 Aluminium Sep 133.35 132.15 132.80 0.45 Aluminium 3MF 2106.00 2082.50 2092.00 2.50 Lead Sep 152.80 150.90 152.50 2.00 Lead 3MF 2408.00 2364.00 2395.00 28.00 Zinc Sep 200.75 195.40 200.65 5.75 Zinc 3MF 3112.00 3038.00 3112.00 78.50 News & Development No major fundamental developments.
Gold Gold fell 1 percent on Monday, touching a 2-1/2-week low, as the dollar strengthened and U.S. Treasury yields rose ahead of a two-day Federal Reserve meeting, while a world stock market index surged to a record and Wall Street also hit new highs. Easing tensions on the Korean peninsula also reduced gold's safe-haven bid. On Sept. 8, gold's session high of $1,357.54 an ounce was the highest in 13 months. On Friday, U.S. data showed hedge funds and other speculators had raised net long positions in the precious metal for nine straight weeks. The dollar hit an eight-week high against the yen, as investors increased bets the Fed could raise interest rates in December. Fed policy makers meet Tuesday and Wednesday. Investors expect the Fed will announce plans to start trimming its balance sheet, which should support the dollar and weigh on dollar-priced gold. Investors grew less worried about tensions on the Korean peninsula. Chinese President Xi Jinping and U.S. President Donald Trump spoke about pressuring North Korea with economic sanctions imposed through the United Nations, the White House said. Trump addresses world leaders at the United Nations on Tuesday. Technical Gold Strategy S2 S1 Close R1 R2 Oct Sell @ R1 29350 29450 29547 29650 29750 We expect gold prices to trade negative on the back of relief from North Korea s Missile tests. Silver Silver was down 2.63 pct at $17.117/oz. Technical Silver Strategy S2 S1 Close R1 R2 Dec Sell @ R1 39200 39500 39764 40000 40300 We expect silver prices to trade negative on the back of relief from North Korea s Missile tests. Page 2
Crude Oil Global crude oil prices slipped slightly Monday but stayed close to multimonth highs as traders braced for a potential stockpile build, expected later this week. Oil refineries across the Gulf of Mexico and the Caribbean were restarting after being shut as hurricanes Harvey and Irma battered the region over the past three weeks. Speculators raised their net long positions in Brent futures and options by 16,962 contracts to 430,699 in the week to Sept. 12, InterContinental Exchange (ICE) data showed, the highest level since March. The increase was the first in four weeks. Hedge funds and other money managers cut their bullish bets on U.S. crude futures and options in the week to Sept. 12, the U.S. Commodity Futures Trading Commission reported on Friday. Technical Crude Oil Strategy S2 S1 Close R1 R2 Sep Sell @ R1 3140 3170 3208 3220 3250 We expect crude oil prices to trade positive on the back of short covering after drop in prices. Natural Gas We expect Natural gas prices to trade sideways on the back of profit booking after an up-move. Technical Nat Gas Strategy S2 S1 Close R1 R2 Sep Buy @ S1 198 200 202.5 204 206 \ Page 3
Base Metals Lead prices hit two-week highs on Monday as worries increased about tighter supplies amid China's environmental crackdown, strong demand and falling inventories in Shanghai. China's Ministry of Environmental Protection (MEP) last month embarked on its fourth round of environmental inspections across eight provinces and regions, including Shandong. Chinese research firm Antaike said the start of environmental inspections in Sichuan province had caused 60 percent of local lead-zinc mines to shut down for month-long maintenance. That could mean lower supplies of zinc and lead in August and September. More than half of global lead supplies come from secondary or recycled sources, which analysts say cannot make up for losses from primary or mine supplies Technical Sep/Nov* Strategy S2 S1 Close R1 R2 Copper* Sideways 418 420 422.7 425 427 Nickel Sideways 703 710 714.6 420 427 Alum Sideways 131 132 132.8 133.5 134.5 Lead Sideways 150.5 151.5 152.5 153.5 154.5 Zinc Sideways 199 200 200.6 202 203 We expect base metal prices likely to trade sideways on the back of short covering after drop in prices. LME Inventories Copper Lead Zinc Aluminium Nickel Current Stock Change % Change 302925 162900 262100 1310800 383472-1425 -225-1650 -2600-606 -0.47% -0.14% -0.63% -0.20% -0.16% Page 4
DATE TIME (IST) COUNTRY ECONOMIC DATA CONSENSUS PREVIOUS IMPACT Tue Sep 19 6:00pm USD Building Permits 1.22M 1.23M High 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