Friday, August 05, 2016
Commodity
Gold / US Dollar FX Spot
Silver / US Dollar FX Spot
Crude oil $ Spot
COMEX Copper $
LME Copper (3M)
LME Aluminum (3M)
LME Nickel (3M)
LME Lead (3M)
LME Zinc (3M)
Last
1360.8
20.28
41.92
343.5
4834.5
1631
10565
1798.5
2260
Chg.
3.3
-0.08
1.12
-1.9
2.5
8
5
2.5
5
% Chg.
0.24%
-0.39%
2.75%
-0.55%
0.05%
0.49%
0.05%
0.14%
0.22%
Market Overview (Economy)
Asian markets are largely positive as oil
prices recovered and as the BOE
announced an unexpected stimulus.
The Bank of England cut interest rates
for the first time since 2009, taking
rates from 0.50% to a record low
0.25%. The BOE also announced that it
would buy 60 billion pounds of
government debt and 10 billion pounds
of high-grade corporate bonds.
The dollar index remains flat ahead of
the all-important payrolls data today
while the pound is likely to slump
further.
Equity
BSE Sensex Index
S&P CNX NIFTY
Hang Seng Index
Shanghai SE Composite Index
Nikkei 225 Index
DAX Index
CAC 40 Index
Dow Jones Industrial Average
Index
NASDAQ 100 Index
Last
27714.4
8551.1
21832.2
2982.4
16254.9
10227.9
4345.6
18352.1
4743.8
Chg.
16.9
6.3
93.1
4.0
171.8
57.7
24.6
-3.0
9.5
% Chg.
0.06%
0.07%
0.43%
0.13%
1.07%
0.57%
0.57%
-0.02%
0.20%
Precious Metals
Gold prices are flattish ahead of the
non-farm payrolls data even as they
recovered post the BOE decision
yesterday.
The Bank of England cut interest rates
for the first time since 2009.
Nonfarm payrolls are expected to
increase by 175k in July after surging
287k in June.
Initial jobless claims also supported gold
as they jumped to 269,000, higher than
the 265,000 projected.
Holdings of SPDR Gold
0.37% to 973.21 tonnes.
Trust,
rose
Nonfarm payrolls are expected to
increase by 175k in July after surging
287k in June.
1
Please refer to disclaimer at the end of the report.

Base Metals
Base metals are mostly flat ahead of the jobs
data but have been slumping since the last
couple of days.
Copper is set for its first weekly loss in four
weeks as mortgage applications in the US
declined and construction spending went lower.
Some support to copper may however come as
Japan's JX Holdings lowered its copper output
target at its Caserones mine in Chile by 27% to
100,000 tonnes for the year through March
2017 due to heavy snow in June and a lack of
skilled workers.
Investors will await Chinese growth, trade and
investment data in the coming week for further
cues.
Investors will await Chinese growth, trade
and investment data in the coming week
for further cues.
LME Inventory
Commodity
Copper
Zinc
Lead
Nickel
Aluminium
Change
1950
-550
-500
-630
-6775
Source: Reuters
Energy
Oil prices extended their rebound yesterday as
US gasoline inventories fell sharply. Higher
supply however will continue to cap upside.
Singapore middle distillates stocks rise to over
5-yr high last week.
US Gasoline stocks slumped by 3.3 million
barrels, compared with forecasts for a 200,000-
barrel drop.
US crude inventories however increased 1.4
million barrels last week, compared expectations
for a decrease of 1.4 million barrels.
OPEC oil exports in July were estimated at 24.61
mbpd, up 730,000 bpd m/m. Saudi crude
exports were up 0.4 million bpd at 7.63 mbpd.
Iraq pumped 4.63 million bpd of crude oil in July
compared with 4.55 million bpd in June. Exports
from southern Iraq in July averaged 3.20 million
barrels per day (bpd), up from 3.17 million bpd
in June.
Singapore middle distillates stocks rise
to over 5-yr high last week.
2
Please refer to disclaimer at the end of the report.

Level Playing Sheet
Commodity
Gold
Gold
Silver
Silver
Crude Oil
Crude Oil
Copper
Zinc
Lead
Nickel
Aluminum
Exchange
MCX
COMEX
MCX
COMEX
MCX
NYMEX
MCX
MCX
MCX
MCX
MCX
Expiry
Oct
Oct
Sep
Sep
Aug
Sep
Aug
Aug
Aug
Aug
Aug
Close
31780
1359
47677
20.41
2810
41.93
322.25
151.15
120.00
708.3
108.55
S2
31393
1341
46548
16.78
2681
39.83
316.75
149.48
118.53
690.8
107.28
S1
31587
1350
47112
16.80
2746
40.88
319.50
150.32
119.27
699.6
107.92
Pivot
31728
1356
47521
16.80
2782
41.48
322.35
151.38
120.18
707.5
108.93
R1
31922
1365
48085
16.93
2847
42.53
325.10
152.22
120.92
716.3
109.57
R2
32063
1370
48494
17.01
2883
43.13
327.95
153.28
121.83
724.2
110.58
Trend
Bullish
Bullish
Bearish
Bearish
Bullish
Flat
Bearish
Bearish
Bearish
Bearish
Bearish
Conviction
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Low
Low
Moderate
Moderate
Moderate
Range
31658 - 31993
1353 - 1368
47317 - 48290
16.78-17.01
2764 - 2865
41.2 - 42.8
318.1 - 323.7
149.9 - 151.8
118.9 - 120.6
695 - 712
107.6 - 109.3
For any details contact:
Commodities Advisory Desk - +91 22 3958 3600
commoditiesresearch@motilaloswal.com
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3
Please refer to disclaimer at the end of the report.