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Daily Metals and Energy Report, 6th February, 2013

Daily Metals and Energy Report, 6th February, 2013

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Published by Angel Broking
6th February, 2013
6th February, 2013

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Published by: Angel Broking on Feb 06, 2013
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Commodities Daily Report
 
International Commodities
Wednesday| February 6, 2013
 
www.angelcommodities.com
 
Content 
OverviewPrecious MetalsEnergyBase MetalsImportant Events for today
Angel Commodities Broking Pvt. Ltd.
Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX: Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302
Disclaimer:
The information and opinions contained in the document have been compiled from sources believed to be reliable. The company does not warrant its accuracy, completeness andcorrectness. The document is not, and should not be construed as an offer to sell or solicitation to buy any commodities. This document may not be reproduced, distributed or published, in whole or inpart, by any recipient hereof for any purpose without prior permission from “Angel Commodities Broking (P) Ltd”. Your feedback is appreciated on 
commodities@angelbroking.com
 
Research Team
Nalini Rao - Sr. Research Analystnalini.rao@angelbroking.com (022) 2921 2000 Extn. 6135 Anish Vyas - Research Analyst D Vijiya Rao - Research Analystanish.vyas@angelbroking.com vijiya.d@angelbroking.com  (022) 2921 2000 Extn. 6104
view:
(022) 2921 2000 Extn. 6134
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Commodities Daily Report
 
International Commodities
Wednesday| February 6, 2013
 
www.angelcommodities.com
 
Overview
 
US ISM Non-Manufacturing PMI declined to 55.2-mark in January.
 
Spanish Services PMI increased to 47-level in the last month.
 
UK's Services PMI increased to 51.5-level in prior month.
 
European Retail Sales declined by 0.8 percent in December.Asian markets are trading higher today on account of signs of economicrecovery in the Euro Zone after favorable economic data in yesterday’strading session.US Institute for Supply Management (ISM) Non-ManufacturingPurchasing Managers' Index (PMI) declined by 0.9 points to 55.2-mark inJanuary as against a rise of 56.1-level in December. Investor's BusinessDaily (IBD) / TechnoMetrica Institute of Policy and Politics (TIPP)Economic Optimism increased by 0.8 points to 47.3-level in Februaryfrom 46.5-mark in last month.India’s HSBC Services Purchasing Managers' Index (PMI) increased by 1.9points to 57.5-mark in January as against a rise of 55.6-level in December.US Dollar Index (DX) declined by 0.1 percent yesterday as a result of risein risk appetite in the global market sentiments which led to fall indemand for the low yielding currency. Additionally, positive economicdata from the Euro Zone showed signs of economic recovery and easethe region’s debt crisis along with US equities trading on a positive notewhich acted as a negative factor for the currency.However, sharp downside in the DX was cushioned on the back ofunfavorable non-manufacturing PMI data. The currency touched an intra-day low of 79.49 and closed at 79.53 on Tuesday.The Indian Rupee appreciated by 0.5 percent in yesterday’s tradingsession. The currency appreciated in the later part of the trade onaccount of unexpected rise in the country’s services PMI data.Additionally, rising foreign inflows along with government disinvestmentin NTPC Limited also acted as a positive factor for the currency, as around$300-$500 million of foreign inflows is expected from this transaction.However, in the initial part of the trade the currency had depreciated asa result of dollar demand from oil importers and weak global marketsentiments. The currency touched an intra-day high of 52.99 and closedat 53.02 on Tuesday.For the month of January 2013, FII inflows totaled at Rs 4,495.50 crores($844.28 million) as on 5
th
February 2013. Year to date basis, net capitalinflows stood at Rs.26,554.60 crores ($4,903.60 million) till 5
th
February2013.
Market Highlights
 
(% change)
as on 5 February, 2013 
 
Last Prev day w-o-w m-o-m y-o-yINR/$(Spot)
53.02 0.5 1.2 3.5 -7.5
$/Euro(Spot)
1.3582 0.5 0.7 3.8 3.4
DollarIndex
79.53 -0.1 -0.1 -1.1 0.4
NIFTY
5956.9 -0.5 -1.5 -0.7 11.1
SENSEX
19659.8 -0.5 -1.7 -0.4 11.0
DJIA
13979.3 0.7 0.2 4.9 8.8
S&P
1511.3 1.0 0.2 3.0 12.4
Source: Reuters 
The Euro appreciated by 0.5 percent yesterday on the back ofSpanish Services Purchasing Managers' Index (PMI) increasedby 2.7 points to 47-level in January as against a rise of 44.3-mark in December. European Final Services PMI rose by 0.3points to 48.6-level in January as compared to earlier rise of48.3-mark a month ago. Apart from that, upbeat global marketsentiments coupled with weakness in the DX also supported anupside in the currency.Italian Services PMI declined by 1.7 points to 43.9-mark in lastmonth from rise of 45.6-level on December. European RetailSales declined by 0.8 percent in December with respect to riseof 0.1 percent in prior month. Italian Prelim Consumer PriceIndex (CPI) was at 0.2 percent in January from rise of 0.3percent in December. The Euro touched an intra-day high of1.3597 and closed at 1.3582 against dollar on Tuesday.UK’s Services Purchasing Managers' Index (PMI) increased by2.6 points to 51.5-level in January from earlier rise of 48.9-mark in December.
 
 
Commodities Daily Report
 
International Commodities
Wednesday| February 6, 2013
 
www.angelcommodities.com
 Market Highlights - Gold
(% change)
as on 5 February, 2013 
 
Gold Unit LastPrev.dayWoW MoM YoYGold (Spot) $/oz
1671.7 -0.1 0.5 0.8 -2.8
Gold (Spot -Mumbai)Rs/10gms
30300.0 0.7 -0.2 -0.2 9.7
Gold(LBMA-PMFix)
 
$/oz
1673.5 0.5 0.6 1.1 -2.6
ComexGold(April’13)$/oz
1672.4 -0.2 -0.4 1.1 -2.9
MCX Gold(April’13)Rs /10gms
30153.0 -0.5 -0.3 -2.7 -
Source: Reuters 
Market Highlights - Silver
 
(% change)
as on 5 February, 2013 
 
Silver Unit Last Prev day WoW MoM YoYSilver(Spot)$/oz
31.8 0.2 1.3 4.7 -5.5
Silver(Spot -Mumbai)
 
Rs/1 kg
59000.0 0.4 1.1 1.3 6.0
Silver(LBMA)
 
$/oz
3201.0 1.6 3.1 5.3 -4.5
ComexSilver(Mar’13)$/ oz
3185.9 0.5 2.2 4.7 -5.5
MCX Silver(Mar’13)
 
Rs / kg
58356.0 -0.1 0.8 -0.2 -
Source: Reuters 
Technical Chart – Spot Gold
Source: Telequote 
 
BullionGold
Spot gold prices fell around 0.1 percent yesterday on the back ofdecline in the safe heaven demand for the yellow metal as a result ofrise in risk appetite in the global market sentiments.However, weakness in the DX cushioned sharp fall in the gold prices.The yellow metal touched an intra-day low of $1,666.36/oz andclosed at $1,671.70/oz in yesterday’s trading session.On the domestic bourses, prices declined by 0.5 percent on accountof appreciation in the Indian Rupee and closed at Rs.30,153/10 gmsafter touching an intra-day low of Rs.30,122/10 gms on Tuesday.
Silver
Taking cues from rise in base metals pack along with weakness in theDX, Spot silver prices increased by 0.2 percent. However, sharpupside in the prices was capped on the back of weak performance inthe gold.The white metal touched an intra-day high of $32.12/oz and closed at$31.80/oz on Tuesday.On the domestic front, prices declined by 0.1 percent on account ofappreciation in the Indian Rupee and closed at Rs.58,356/kg aftertouching an intra-day low of Rs.58,052/kg in yesterday’s tradingsession.
Outlook
 In today’s session, we expect bullion prices to trade on a positivenote on account of rise in risk appetite in the global marketsentiments. Additionally, weakness in the DX will also act as apositive factor for the prices. In the Indian markets, appreciation inthe Rupee will cap gains or even add downside pressure on theprices.Technical Outlook
valid for February 6, 2013
 
Unit Support ResistanceSpot Gold $/oz
1667/1661 1676/1682
MCX Gold Apr’13 Rs/10 gms
30490/30380 30660/30770
Spot Silver $/oz
31.57/31.40 31.97/32.20
MCX SilverMar’13Rs/kg
58000/57700 58750/59150

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