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Daily Metals and Energy Report, April 01

Daily Metals and Energy Report, April 01

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Published by Angel Broking
1st April, 2013
1st April, 2013

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Published by: Angel Broking on Apr 01, 2013
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Commodities Daily Report
 
International Commodities
Monday| April 1, 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 in
part, by any recipient hereof for any purpose without prior permission from “Angel Commodities Broking (P) Ltd”. Your feedbac
k is appreciated on 
commodities@angelbroking.com
 
Research Team
Vedika Narvekar - Sr. Research Analyst
vedika.narvekar@angelbroking.com(022) 2921 2000 Extn :6130
Saif Mukadam
 –
Research Analyst
saif.mukadam@angelbroking.com(022) 2921 2000 Extn :6136
Anish Vyas - Research Analyst
anish.vyas@angelbroking.com(022) 2921 2000 Extn :6104
 
 
Commodities Daily Report
 
International Commodities
Monday| April 1, 2013
 
www.angelcommodities.com
 
Overview
US Revised UoM Consumer Sentiment rose to 78.6-mark in March.
Japan’s Tankan Manufacturing Index declined to 8 marks in Q1 of 2013
.
China’s Manufacturing
PMI increased to 50.9-mark in March.French Consumer Spending declined by 0.2 percent in February.Asian markets are trading on the negative note on the back of 
unfavorable manufacturing data from Japan and China’s manufacturing
PMI increased at a slower note as compared to forecast leading toexpectations of slowdown in the global economic growth.US Core Personal Consumption Expenditures (PCE) Price Index was at 0.1percent in February as against a 0.2 percent a month ago. PersonalSpending increased by 0.7 percent in February from earlier rise of 0.4percent in prior month. Personal Income was at 1.1 percent in last monthas compared to decline of 3.7 percent in January.Revised University of Michigan (UoM) Consumer Sentiment increased by6.8 points to 78.6-mark in March with respect to 71.8-level in February.Revised UoM Inflation Expectations was at 3.2 percent in March whencompared to 3.3 percent a month earlier.On a weekly basis, Indian Rupee appreciated marginally by 0.1 percent.The currency appreciated on account of selling of dollars from exportersand custodian banks. Additionally, upbeat global market sentiments alsosupported an upside in the currency.However, sharp upside in the currency was capped on the back of strength in the DX. The currency touched a weekly high of and closed at54.28 against dollar on Thursday.For the month of March 2013, FII inflows totaled at Rs.9,124.30 crores($1,675.48 million) as on 28th March 2013. Year to date basis, net capitalinflows stood at Rs.55,622.40 crores ($10,310.10 million) till 28th March2013.
Japan’s Tankan Manufacturing Index declined to 8 marks in Q1 of 2013 as
compared to -12-level in Q4 of 2012. Non-Manufacturing Index increasedto 6-mark in first quarter of 2013 from 4-level in last quarter of 2012.
China’s Manufacturing
Purchasing Managers' Index (PMI) increased by0.8 points to 50.9-mark in the month of March with respect to 50.1-levelin February. HSBC Final Manufacturing PMI declined marginally by 0.1point to 51.6-level in March as against a rise of 51.7-mark in last month.
Market Highlights
 
(% change)
as on 28 March, 2013
 
Last Prev day w-o-w m-o-m y-o-yINR/$(Spot)
54.28 0.3 0.3 0.2 -6.5
$/Euro(Spot)
1.2814 0.3 -0.6 -1.9 -3.8
DollarIndex
83.18 -0.3 0.3 1.4 4.7
NIFTY
5682.6 0.7 0.4 -0.2 9.4
SENSEX
18835.8 0.7 0.2 -0.1 3.0
DJIA
14578.5 0.4 1.1 3.5 11.1
S&P
1569.2 0.4 1.5 3.6 11.6
Source: Reuters
French Consumer Spending declined by 0.2 percent in Februaryas against a fall of 0.9 percent a month ago. Italian PrelimConsumer Price Index (CPI) was at 0.3 percent in March from0.1 percent in February.
 
 
Commodities Daily Report
 
International Commodities
Monday| April 1, 2013
 
www.angelcommodities.com
 Market Highlights - Gold
(% change)
as on 28 March, 2013
 
Gold Unit LastPrev.dayWoW MoM YoYGold (Spot) $/oz
1596.2 -0.5 -1.1 1.0 -3.9
Gold (Spot -Mumbai)Rs/10gms
29575.0 0.3 -0.3 0.3 4.1
Gold(LBMA-PMFix)
 
$/oz
1598.3 -0.3 -1.0 0.6 -4.6
ComexGold(
June’13
)$/oz
1594.8 -0.7 -0.7 1.4 -3.8
MCX Gold(
June’13
)Rs /10gms
29443.0 -0.6 -1.3 -0.4 4.7
Source: Reuters
Market Highlights - Silver
 
(% change)
as on 28 March, 2013
 
Silver Unit Last Prev day WoW MoM YoYSilver(Spot)$/oz
28.3 -1.1 -2.8 -0.7 -11.4
Silver(Spot -Mumbai)
 
Rs/1 kg
54560.0 -0.4 -0.8 -2.0 -4.1
Silver(LBMA)
 
$/oz
2864.0 1.1 -0.9 -1.1 -11.7
ComexSilver(
May’13
)$/ oz
2829.2 -1.0 -3.0 -0.6 -11.1
MCX Silver(
May’13
)
 
Rs / kg
53564.0 -0.9 -2.7 0.6 -5.3
Source: Reuters
Technical Chart
 –
Spot Gold
Source: Telequote
 
BullionGold
Spot gold prices declined by 0.7 percent in the in the last week as thefinance ministers from European union approved the bailout packageto Cyprus, weakening the demand for safe haven. Further, reopeningof banks in Cyprus reduced the concerns over deep
ening of Europe’s
debt crisis also kept investors away from safe haven. Additionally,strength in Dollar index (DX) coupled with mixed global marketsentiments also added downside pressure.
However, US Federal Reserve decision to continue with it’s lose
 monetary policy coupled with unfavorable jobless claim data from UScushioned sharp downfall in prices. The yellow metal touched aweekly low of $1589.49.36/oz and closed at $1596.17/oz in lasttrading session of the week.In the Indian markets, prices fell by 0.8 percent taking cues from spotgold prices closed at Rs.29443/10 gms on Friday after touching anintra-day low of Rs. 29342/10 gms in the last week. Appreciation inthe Indian rupee exerted downside pressure.Holdings in the SPDR Gold Trust, the world's largest gold-backedexchange-traded fund, remained unchanged at 1,221.26 tonnes as on28
th
March 2013.
Silver
Taking cues from the fall in gold prices coupled with decline in basemetals pack, Spot silver prices declined around 0.2 percent in the lastweek. Further, strength in DX also added downside pressure. Thewhite metal prices touched a low of $28.09 /oz in the last week andclosed at $28.32/oz in the last trade of the week.On the domestic front, prices fell by 1.0 percent taking cues fromspot silver prices and closed at Rs. 53564/kg on Friday after touchinga weekly low of Rs. 53250/kg. Appreciation in the Indian rupeeexerted downside pressure.Holdings in the iShares Silver Trust, the world's largest silver-backedexchange-traded fund, increased around 0.14 percent at 10703.59tonnes as on 28
th
March 2013 from previous 10688.56 tonnes on 22
nd
 March 2013.
Outlook
In the intraday, we expect precious metals to trade on a positive noteon the back of worries over debt crisis in Cyprus and ongoing tensionin Korean peninsula. However, strength in DX may cap sharp gains inprices.Technical Outlook
valid for April 1, 2013
 
Unit Support ResistanceSpot Gold $/oz
1593/1587 1604/1607
MCX Gold June
’1
3 Rs/10 gms
29870/29760 30070/30140
Spot Silver $/oz
27.90/27.70 28.40/28.60
MCX Silver May
’1
3 Rs/kg
52700/52100 53500/53900

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