Commodities Evening Update

Thursday | February 28, 2013

International Commodities

Content
Days overview Market Highlights Outlook Important Events for Today

Overview:

Research Team
Anish Vyas - Research Analyst anish.vyas@angelbroking.com (022) 2921 2000 Extn. 6104

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 2000 MCX 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 and correctness. The document is not, and should not be construed as an offer to sell or solicitation to buy any commodities. Thi s 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 feedback is appreciated on commodities@angelbroking.com

Commodities Evening Update

Thursday | February 28, 2013

International Commodities
News and Analysis France Consumer Spending declined to -0.8 percent German Unemployment change declined by 3000 Europe Core Consumer Price Index (CPI) decline to 1.3 percent European equities are trading higher due to the European Central Bank (ECB) decision to continue with its lose monetary policy. US stock futures are trading on a positive note and Asian markets ended in the green. France Consumer Spending decreased to -0.8 percent in January as compared to rise of 0.2 percent in December. German Unemployment change declined by 3,000 in last month from previous fall of 14,000 in December. European Consumer Price Index (CPI) remained unchanged at 2 percent in the month of January. Core CPI grew at slow pace of 1.3 percent in January with respect to rise of 1.5 percent a month ago. Spot gold prices are trading on a negative note due to decline in demand for safe haven investments and strong DX. Gold declined by 0.69 percent making intraday low of $1585.95/oz and hovered around $1586.21/oz today till 4.30pm. In MCX, gold prices are trading lower on account of weakness in the international spot gold prices but the sharp downfall in prices are capped due to depreciation in the rupee. Taking cues from fall in gold prices and negative bias in base metals pack, Spot silver prices are trading down by 0.55 percent due to Strength in DX. However, rise in the risk appetite in the global markets sharp downfall in the prices were cusiohned. The white metal touched an intra-day low of $28.80/oz and was trading at $28.83/oz today till 4:30pm IST. In the Indian markets, prices traded on a flat note on the back of depreciation in the Rupee and was trading around Rs.53786/kg today till 4:30pm IST. Base Metals group traded on negative note due to increase in LME inventories and Strength in DX. Sharp down fall in prices was cushioned due to optimistic global markets sentiments. Copper, the leader of the base metals declined by 0.09 percent on the back of rise in LME copper inventories by 0.5 percent which stood at 446,700 tonnes. Nymex crude oil prices decreased by 0.32 percent on the back of Strong DX. Further, sharp downfall in the prices were prevented due to lower than expected rise in US crude oil inventroies and optimistic global markets sentiments. On MCX sharp downfall in prices was cushioned due to depreciation in the Indian Rupee. Performance during the day
Index Nifty Sensex Nikkei Kospi FTSE Open High

as at 4.30 pm 28 February 13
Low Last % Chg from Prev day

5834.35 19264.80 11396.73 2019.05 15904.49

5849.90 19322.28 11563.75 2030.85 15919.94

5671.90 18793.97 11392.56 2016.15 15720.95

5693.05 18861.54 11559.36 2026.49 15720.95

-1.79 -1.52 2.71 1.12 -0.46

Source: Reuters

as at 4.30 pm 28 February 13
Currency Dollar Index Euro/$ Spot INR/$ Spot Open High Low Current % Chg from Prev day

81.61 1.3138 53.86

81.76 1.3162 54.515

81.535 1.3095 53.60

81.715 1.3108 54.41

0.05 -0.23 1.02

Source: Reuters

as at 4.30 pm 28 February 13
Commodity Spot Gold Comex Gold Mar13 MCX Gold Apr13 Spot Silver Comex Silver Mar13 MCX Silver Mar 13 Crude Oil Nymex Apr 13 ICE -Brent Crude Oil* MCX Crude Oil Mar 13 Copper LME - 3 Month MCX Copper Feb13 Zinc LME - 3 Month Zinc MCX - Feb13 Lead LME - 3 Month Lead MCX - Feb13 Nickel LME - 3 Month Nickel MCX Feb13 Aluminum LME - 3 Month Aluminum MCX Feb13 Unit Open High Low Last % Chg from Prev day

$/oz $/oz Rs/10g ms $/oz $/oz Rs/kg $/bbl

1597.00 1596.00 29703.00 28.99 28.23 53800 92.89 111.95 5012 7890.50 422.15 2085.00 111.65 2317 124.15 16800 899.30 2020.25 106.20

1602.60 1601.60 29934.0 29.16 29.14 54199 93.18 112.37 5061 7930.00 425.50 2097.50 112.70 2325 125.10 16861 904.60 2028.00 106.70

1585.95 1588.40 29634.0 28.80 28.785 53765 92.42 111.67 5000 7855.00 421.00 2068.00 111.10 2290 123.10 16620 890.40 1997.00 105.10

1586.21 1589.40 29743.00 28.83 28.895 53786 92.46 112.02 5007 7856.75 421.40 2068.25 111.80 2292 124.05 16640 896.30 1998.00 106.05

-0.69 -0.36 0.00 -0.55 -0.17 0.00 -0.32 0.13 0.00 -0.09 0.00 -0.78 0.00 -0.91 0.00 -0.63 0.00 -1.04 0.00

$/bbl Rs/bbl $/tonne Rs/kg $/tonne Rs/kg $/tonne

Rs/kg $/tonne Rs/kg $/tonne Rs/kg

Source: Reuters.

Commodities Evening Update

Thursday | February 28, 2013

International Commodities
Outlook In the evening session, we expect precious metals, base metals and crude oil prices to trade on a positive note on the back of optimistic global markets sentiments coupled with the expectation of Positive US GDP data and Jobless Claims data. Strength in the DX may cap the sharp rally in the prices on International Market.

Technical Outook for evening session 28 February 13 ( CMP as of 5.00 pm)

Commodity Gold April '13 Spot Gold Silver Mar13 Spot Silver Brent Crude Mar13 Crude Oil Mar13 Nymex Crude Oil Apr13 Natural Gas Mar13 LME Copper Copper Feb 13 Zinc Feb13 Lead Feb13 Aluminum Feb13 Nickel Feb13 Unit Rs/10 gm $/oz Rs /kg $/oz $/bbl Rs /bbl $/bbl Rs /mmBtu $/tonne Rs /kg Rs /kg Rs /kg Rs /kg Rs /kg Support 2 29488 1574 53278 28.47 6000 5005 91.6 183.1 7804 426.4 111 123.15 106.4 896 Support 1 29618 1584 53603 28.72 6030 5037 92.2 185.5 7834 429.4 111.85 123.95 107 902 CMP 29664 1587 53792 28.85 6118 5051 92.44 187.4 7858 432.85 112.45 124.6 108 909 Resistance1 29865 1603 54201 29.18 6127 5103 93.4 190.2 7930 435.4 113.3 125.55 108.6 912.5 Resistance 2 29956 1610 54552 29.45 6158 5136 94 193 7968 438 114.8 126.15 109.5 919

Important Events for Today

Indicator Prelim Industrial Production m/m German Prelim CPI m/m French Consumer Spending m/m German Unemployment Change CPI y/y Core CPI y/y Prelim GDP q/q Unemployment Claims Chicago PMI FOMC Member Raskin Speaks Country Japan Euro Euro Euro Euro Euro US US US US Time (IST) 5:20am All Day 1:15pm 2:25pm 3:30pm 3:30pm 7:00pm 7:00pm 8:15pm 11:00pm Actual 1.0% -0.8% -3K 2.0% 1.3% Forecast 1.6% 0.7% -0.1% -5K 2.0% 1.5% 0.5% 363K 54.6 Previous 2.5% -0.5% 0.0% -16K 2.0% 1.5% -0.1% 362K 55.6 Impact Medium Medium Medium Medium Medium Medium High High Medium Medium