commodity daily journal daily report 11 october

1. Commodity Premium Daily Journal Strictly For Client Circulation Wednesday, 11th O c t o b e r 2 0 1 7 29780 Gold Silver 40207 contactus@24cfin.com +91-98261-69053 604 - Shekhar Central, Palasia Square, Indore - 452001, Madhya Pradesh, INDIA 24cfin.com

2. Market Wrapup Tuesday, 10th October 2017 Commodity High Open Price Low Contract Close Price Gold 29780 29859 29751 29825 05-Dec-2017 Silver 39980 40440 39980 40327 05-Dec-2017 Crude Oil 3249 3335 3244 3331 18-Oct-2017 Natural Gas 186.30 189.50 186.10 189 26-Oct-2017 Copper 439.50 443.45 438.10 443.05 30-Nov-2017 Zinc 213.95 217.50 212.05 217.30 31-Oct-2017 Lead 163.85 166.85 161.95 166.70 31-Oct-2017 Aluminium 140.55 140.80 139.30 140.30 31-Oct-2017 Nickel 715.50 719.80 705.10 719 31-Oct-2017 contactus@24cfin.com +91-98261-69053 604 - Shekhar Central, Palasia Square, Indore - 452001, Madhya Pradesh, INDIA 24cfin.com

3. Support & Resistance Wednesday, 11th October 2017 Commodity RES-2 RES-1 PIVOT SUP.1 SUP.2 Contract 05-Dec-2017 29919.67 29872.33 29811.67 29764.33 29703.67 Gold 05-Dec-2017 40709.00 40518.00 40249.00 40058.00 39789.00 Silver 18-Oct-2017 3394.33 3362.67 3303.33 3271.67 3212.33 Crude Oil 26-Oct-2017 191.60 190.30 188.20 186.90 184.80 Natural Gas 30-Nov-2017 446.88 444.97 441.53 439.62 436.18 Copper 31-Oct-2017 221.07 219.18 215.62 213.73 210.17 Zinc 31-Oct-2017 170.07 168.38 165.17 163.48 160.27 Lead 31-Oct-2017 141.63 140.97 140.13 139.47 138.63 Aluminium 31-Oct-2017 729.33 724.17 714.63 709.47 699.93 Nickel contactus@24cfin.com +91-98261-69053 604 - Shekhar Central, Palasia Square, Indore - 452001, Madhya Pradesh, INDIA 24cfin.com

4. MCX Outlook Wednesday, 11th October 2017 Base Metals continue to trade range bound; May decline in the evening Base Metals are trading steady from opening today and is expected to trade lower in the evening session. With the exception of Copper which is higher by 0.14%, the rest of the metals are trading lower by about half a percent. The recent strength in Copper was triggered by an earthquake in Chile which spurred fears of a production shutdown and supply shortages in China ahead of the peak demand season. China banned imports of scrap copper in July-August which is expected to create a domestic supply crunch in the world’s largest consumer of base metals. The dropping inventory levels across LME and SHFE have also been supportive of prices. Zinc is increasingly coming under the threat of a potential correction even though the fundamentals remain strong. Crude Oil still reeling under effects of hurricanes; Trend positive Crude Oil continued to struggle in the aftermath of the second major hurricane this season, Nate. Crude Oil is trading at Rs.3,273, up 18 points or 0.55% whereas Natural Gas is trading at Rs.188.30, up 2.10 or 1.13%. Oil prices have been struggling recently after the recent hurricane Nate shut down almost 100% of the refining capacity in the Gulf of Mexico region over the weekend. Refining demand has been one the key drivers for crude oil in the recent few months and the shutdown of refining capacity is likely to drive prices lower in the short term. The fundamentals continue to improve as the recent data points indicate in the form of dropping US production and oil rig counts along with reports suggesting that Saudi might cut down its exports into the global market in the near future in a commitment to stick to output quotas. The focus will shift to the weekly petroleum status report tomorrow which may see crude inventories build further as a result of the hurricane. contactus@24cfin.com +91-98261-69053 604 - Shekhar Central, Palasia Square, Indore - 452001, Madhya Pradesh, INDIA 24cfin.com

5. Market News Wednesday, 11th October 2017 Special News Special News Special News Gold Falls In Asia As Market Awaits Fed Minutes Gold prices eased in Asia on Wednesday ahead of minutes from the Fed due later in the day and expected to show a largely hawkish stance on the need for a December hike and into next year. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange fell 0.27% to $1,290.1 a troy ounce. Overnight, gold prices rose for the second day in a row buoyed by continued dollar weakness while ongoing political tensions between the U.S. and North Korea lifted sentiment. Gold’s bullish start to the week continued as safe-haven demand remained elevated amid ongoing geopolitical uncertainty on the Korean Peninsula while dollar weakness supported an uptick in demand for the precious metal. Crude Oil Prices Up In Asia As Market Looks To API Estimates Crude oil prices gained in Asia on Wednesday ahead of industry estimates of U.S. inventories as refineries in Texas recover from hurricane-related shutdowns. On the New York Mercantile Exchange crude futures for November delivery rose 0.27% to $51.06 a barrel, while on London's Intercontinental Exchange, Brent gained 0.11% to $56.67 a barrel. Later Wednesday, the American Petroleum Institute (API) is to release its estimates of crude and refined product inventories at the end of last week, followed by official data on Thursday from the Energy Information Administration (EIA). The API and EIA figures often diverge. Crude oil inventories are seen down by 1.8 million barrels, while distillates are seen down by 2.375 million barrels and gasoline stocks expected to show a 1.025 million barrels decline. contactus@24cfin.com +91-98261-69053 604 - Shekhar Central, Palasia Square, Indore - 452001, Madhya Pradesh, INDIA 24cfin.com

6. Market News Wednesday, 11th October 2017 Commodity Buzz Commodity Buzz Commodity Buzz Aluminium market under fresh buying; Support seen at 140 Technically Aluminium market is under fresh buying as market has witnessed gain in open interest by 11.6% to settle at 4812. Now MCX Aluminium is getting support at 140 and below same could see a test of 138.8 levels and resistance is now likely to be seen at 141.9, a move above could see prices testing 142.6. Aluminium on MCX settled up 0.86% at 141.05 as investors anticipated production cuts in China. As of October 9, aluminum ingot inventories in China’s seven major markets (including SHFE warrants) refreshed a new high. Total inventories were 1.72 million tonnes in the seven markets, including 321,000 tonnes in Shanghai, 682,000 tonnes in Wuxi, 80,000 tonnes in Hangzhou, 146,000 tonnes in Gongyi, 56,000 tonnes in Tianjin and 31,000 tonnes in Chongqing. The China’s central bank decides to implement targeted cuts to required reserve ratios against inclusive finance. MCX Nickel likely to trade in a range between 690.4-733.4 Technically Nickel market is getting support at 704.4 and below same could see a test of 690.4 levels and resistance is now likely to be seen at 725.9, a move above could see prices testing 733.4. Nickel on MCX settled up 3.64% at 718.40 rallied tracking LME Nickel which was the standout performer on the London Metal Exchange as it rallied nearly 4% that is highest level in more than two weeks on Monday, supported by a softer dollar and higher steel prices, while shrugging off weak data from top metals consumer China. Higher steel prices offset data showing activity in China's services sector grew at its slowest pace in 21 months in September, casting doubt on the economic growth of the world's top metals consumer. Nickel markets are heavily influenced by steel prices since the metal is mainly used in the steel sector. contactus@24cfin.com +91-98261-69053 604 - Shekhar Central, Palasia Square, Indore - 452001, Madhya Pradesh, INDIA 24cfin.com

7. Analyst Speaks Wednesday, 11th October 2017 Gold MCX RESISTANCE 2 Technically Gold market is under short covering as market has witnessed drop in open interest by 5.71% to settled at 7547 while prices up 186 rupees. 29919.67 RESISTANCE 1 29872.33 Now MCX Gold is getting support at 29764.33 and below same could see a test of 29703.67 levels and resistance is now likely to be seen at 29872.33 a move above could see prices testing 29919.67. BUY GOLD DEC AROUND 29750-29760 TGTS 29850/29950 SL 29650 29811.67 PIVOT SUPPORT 1 29764.33 SUPPORT 2 29703.67 contactus@24cfin.com +91-98261-69053 604 - Shekhar Central, Palasia Square, Indore - 452001, Madhya Pradesh, INDIA 24cfin.com

8. Analyst Speaks Wednesday, 11th October 2017 CRUDE OIL MCX RESISTANCE 2 3394.33 Technically Crude Oil market is under short covering as market has witnessed drop in open interest by 2.8% to settled at 9678 while prices up 75 rupees. RESISTANCE 1 3362.67 Now MCX Crude Oil is getting support at 3271 and below same could see a test of 3212 level, And resistance is now likely to be seen at 3362, a move above could see prices testing 3394. PIVOT 3303.33 SUPPORT 1 BUY CRUDE OIL OCT AROUND 3330-3335 TGTS 3360/3390 SL 3300 3271.67 SUPPORT 2 3212.33 contactus@24cfin.com +91-98261-69053 604 - Shekhar Central, Palasia Square, Indore - 452001, Madhya Pradesh, INDIA 24cfin.com

9. Today’s Economic Events Wednesday, 11th October 2017 TIME EVENT COUNTRY ACTUAL FORECAST PREVIOUS 6.13M 6.17M JOLTS Job Openings 7:30pm USD 11:30pm FOMC Meeting Minutes contactus@24cfin.com +91-98261-69053 604 - Shekhar Central, Palasia Square, Indore - 452001, Madhya Pradesh, INDIA 24cfin.com

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