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    International Commodities Evening Update December 12

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    Angel Broking
    The document provides an evening summary and outlook of international commodities markets on December 12, 2012. It notes that gold, silver, base metals and crude oil prices are expected to trade with an upward bias due to expectations that the US Federal Reserve will announce stimulus measures. Crude oil may also be impacted by US inventory data to be released. Upcoming economic reports and central bank meetings from various countries are also highlighted.

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    International Commodities Evening Update December 12

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    Angel Broking
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    The document provides an evening summary and outlook of international commodities markets on December 12, 2012. It notes that gold, silver, base metals and crude oil prices are expected to trade with an upward bias due to expectations that the US Federal Reserve will announce stimulus measures. Crude oil may also be impacted by US inventory data to be released. Upcoming economic reports and central bank meetings from various countries are also highlighted.

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    The document provides an evening summary and outlook of international commodities markets on December 12, 2012. It notes that gold, silver, base metals and crude oil prices are expected to trade with an upward bias due to expectations that the US Federal Reserve will announce stimulus measures. Crude oil may also be impacted by US inventory data to be released. Upcoming economic reports and central bank meetings from various countries are also highlighted.

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    Download as PDF, TXT or read online from Scribd
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    4 views3 pages

    International Commodities Evening Update December 12

    Uploaded by

    Angel Broking
    The document provides an evening summary and outlook of international commodities markets on December 12, 2012. It notes that gold, silver, base metals and crude oil prices are expected to trade with an upward bias due to expectations that the US Federal Reserve will announce stimulus measures. Crude oil may also be impacted by US inventory data to be released. Upcoming economic reports and central bank meetings from various countries are also highlighted.

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    Commodities Evening Update

    Wednesday | December 12, 2012

    International Commodities

    Content
    Days overview Market Highlights Outlook Important Events for Today

    Overview:

    Research Team
    Nalini Rao - Sr. Research Analyst nalini.rao@angelbroking.com (022) 2921 2000 Extn. 6135

    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. 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 feedback is appreciated on commodities@angelbroking.com

    Commodities Evening Update


    Wednesday | December 12, 2012

    International News and Analysis

    Commodities
    Performance during the day
    Index Nifty Sensex Nikkei Kospi FTSE Open 5898.80 19432.54 9606.25 1972.33 15626.55 High 5924.45 19478.79 9606.25 1975.44 15678.31

    Indias Industrial Production increased by 8.2 percent in October. UKs Claimant Count Change declined by 3,000 in November. European Industrial Production declined by 1.4 percent in October. Indias Industrial Production increased by 8.2 percent in October as against a previous decline of 0.7 percent a month ago. Manufacturing Output rose by 9.6 percent in October from earlier decline of 1.5 percent in prior month. UKs Claimant Count Change declined by 3,000 in November as against a rise of 6,000 in October. Unemployment Rate remained unchanged at 7.8 percent in the month of October. Average Earnings Index also remained unchanged at 1.8 percent in the month of October. German Final Consumer Price Index (CPI) remained unchanged at -0.1 percent in November. French Consumer Price Index (CPI) declined by 0.2 percent in November as against a rise of 0.2 percent in October. European Industrial Production declined by 1.4 percent in October from earlier decline of 2.5 percent a month ago. Spot gold prices surged by 0.2 percent today on the back of rise in risk appetite in the global market sentiments ahead of the policy meeting today and on expectations that the US Federal Reserve might announce stimulus measures. Additionally, weakness in the US Dollar Index (DX) pushed prices upwards. In the Indian markets prices traded on a flat note and appreciation in the Indian Rupee capped sharp gains in prices on the MCX. Taking cues from rise in gold prices along with upside in the base metals complex, Spot silver prices gained 0.5 percent today. Also a weaker DX acted as a positive factor for the white metal prices. The base metals pack traded on a positive note on the back of expectations of stimulus measures from US Federal Reserve, upbeat global market sentiments along with weakness in the DX. Copper, rose 0.3 percent as a result of positive global market sentiments and weakness in the DX. However, rise in LME Copper inventories capped gains in the prices. Nymex crude oil prices gained 0.5 percent taking cues from expectations of decline in US crude oil inventories, hopes of stimulus measures from US Federal Reserve along with weakness in the DX. However, further upside in the prices was prevented on account of forecast that Organization of Petroleum Exporting Countries (OPEC) will keep the output target unchanged at 30 million barrels a day. The US Energy Department (EIA) is scheduled to release its weekly inventories report today at 8:00pm IST and US crude oil inventories is expected to decline by 0.5 million barrels for the week ending on 7th December 2012. Gasoline stocks are expected to fall by 1.9 million barrels whereas distillate inventories are also expected to increase by 0.4 million barrels for the same period.

    as at 4.30 pm 12 December12
    Low 5874.55 19317.23 9565.95 1966.91 15575.57 Last 5888.00 19355.26 9581.46 1975.44 15641.58 % Chg from Prev day -0.16 -0.18 0.59 0.55 0.36
    Source: Reuters

    as at 4.30 pm 12 December12
    Currency Dollar Index Euro/$ Spot INR/$ Spot Open 80.07 1.3005 54.20 High 80.11 1.303 54.325 Low 79.97 1.2993 54.125 Current 79.97 1.3027 54.24 % Chg from Prev day -0.11 0.18 -0.03
    Source: Reuters

    as at 4.30 pm 12 December12
    Commodity Spot Gold Comex Gold Feb13 MCX Gold Feb13 Spot Silver Comex Silver Mar13 MCX Silver Mar 13 Crude Oil Nymex Jan 12 ICE -Brent Crude Oil MCX Crude Oil Dec 12 Copper LME - 3 Month MCX Copper Feb13 Zinc LME - 3 Month Zinc MCX - Dec12 Lead LME - 3 Month Lead MCX - Dec12 Nickel LME - 3 Month Nickel MCX Dec12 Aluminum LME - 3 Month Aluminum MCX Dec12 Unit Open High Low Last % Chg from Prev day

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

    1709.64 1710.10 31383 32.95 32.99 62332 85.69 108.14 4676 8097.00 445.95 2076.00 111.80 2296.00 123.75 17795.00 966.10 2114.00 114.00

    1715.40 1714.60 31452 33.16 33.14 62584 86.29 108.74 4691 8147.00 448.10 2091.50 112.45 2304.00 124.30 17910.00 970.80 2136.00 115.00

    1708.39 1710.10 31325 32.89 32.99 62260 85.68 108.14 4662 8084.00 445.35 2070.00 111.45 2285.00 123.40 17758.00 963.20 2110.00 113.75

    1713.30 1714.60 31393 33.09 33.13 62510 86.21 108.57 4686 8133.00 447.25 2088.50 112.30 2299.75 124.10 17879.00 970.20 2130.25 114.75

    0.2 0.37 1.99 0.46 0.6 0.3 0.49 0.52 0.32 0.56 0.25 0.85 0.36 0.46 0.04 0.61 0.34 0.86 0.44

    Source: Reuters.

    Commodities Evening Update


    Wednesday | December 12, 2012

    International Commodities
    Outlook In the evening session, we expect precious, base metals and crude oil prices to trade with an upward bias owing to expectation of stimulus package to be announced by the US Federal Reserve to boost the economy in its policy meeting today. Additionally, weakness in the DX is also expected to push prices upwards. Crude oil prices might also take cues from the EIA inventories to be released in the later part of the evening. A lower inventory of the crude oil as expected might support an upside in the prices.

    Technical Outook for evening session 12 December12 ( CMP as of 5.00 pm)


    Commodity Gold Feb'13 Spot Gold Silver Mar13 Spot Silver Crude Oil Dec '12 Nymex Crude Oil Jan12 Natural Gas Dec12 Copper Feb 13 Zinc Dec12 Lead Dec12 Aluminum Dec12 Nickel Dec12 Unit Rs/10 gm $/oz Rs /kg $/oz Rs /bbl $/bbl Rs /mmBtu Rs /kg Rs /kg Rs /kg Rs /kg Rs /kg Support 2 31248 1699 61730 32.52 4626 85.1 182.4 443.55 110.85 122.45 113.3 956 Support 1 31312 1704.5 62146 32.84 4654 85.6 185 444.85 111.4 123.25 113.75 961.4 CMP 31405 1713.6 62523 33.13 4688 86.22 187.2 447.45 112.35 124.1 114.75 970.1 Resistance1 31465 1716 62679 33.25 4697 86.4 187.8 448.2 112.8 124.65 115.1 971 Resistance 2 31520 1722 63043 33.53 4741 87.2 190.4 449.8 113.75 125.7 115.9 975

    Important Events for Today


    Indicator Core Machinery Orders m/m Tertiary Industry Activity m/m ECOFIN Meetings Claimant Count Change Unemployment Rate Industrial Production m/m MPC Member Dale Speaks Import Prices m/m Crude Oil Inventories 10-y Bond Auction FOMC Statement Federal Funds Rate Country Japan Japan Euro UK UK Euro UK US US US US US Time (IST) 5:20am 5:20am All Day 3:00pm 3:00pm 3:30pm 4:15pm 7:00pm 9:00pm 10:00pm 11:00pm 11:00pm Actual 2.6% -0.1% -3.0K 7.8% -1.4% Forecast 3.1% -0.3% 5.9K 7.9% 0.3% -0.4% -0.5M <0.25% Previous -4.3% 0.3% 10.1K 7.8% -2.5% 0.5% -2.4M 1.68/2.6 <0.25% Impact Medium Medium Medium High Medium Medium Medium Medium Medium Medium High Medium

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