Gold futures fell from a one-week high as a rally in global equities curbed demand for the precious metal as an alternative investment. The MSCI All-Country World Index of stocks extended a rally to a five-year high after China’s economic growth accelerated.

1. Commodity Weekly Update
21
st
Oct 2013
Highlights
Gold futures fell from a one-week high as a rally in global equities curbed demand for the precious metal as an alternative
investment. The MSCI All-Country World Index of stocks extended a rally to a five-year high after China’s economic growth
accelerated. Gold jumped 3.9 percent in the previous two days amid speculation that the Federal Reserve will hold off on scaling
back monetary stimulus. Gold futures for December delivery fell 0.6 percent to settle at $1,314.60 an ounce on the Comex in New
York. Earlier, the price reached $1,328.90, the highest for a most-active contract since Oct. 8. Silver futures for December
delivery fell 0.2 percent to $21.913 an ounce. The price has tumbled 28 percent this year. West Texas Intermediate crude
advanced after economic growth accelerated in China, the world’s largest oil-importing country, and on speculation the U.S. will
maintain economic stimulus. WTI crude for November delivery rose 14 cents to settle at $100.81 a barrel on the New York
Mercantile Exchange. The contract fell 1.6 percent to $100.67 yesterday, the lowest close since July 2. Prices slipped 1.2 percent
this week. Copper futures rose after stronger economic growth bolstered the outlook for demand in China, the world’s largest
consumer of the metal. Copper futures for December delivery advanced 0.1 percent to close at $3.299 a pound on the Comex.
Weekly Movement
Global Futures
Crude Oil
Natural Gas
Heating Oil
Gasoline RBOB
Gold
Silver
Copper
Price
Change
Change
(%)
0.14
0.19
1.52
0.96
-0.63
-0.15
0.06
100.81
3.76
303.54
267.32
1314.60
21.91
329.90
0.14
0.01
4.54
2.53
-8.40
-0.03
0.20
Price
Change
6192
231.10
448.80
869.30
132.20
116.55
110.80
29480
48195
-15.00
0.10
3.05
18.4
4.30
0.95
-2.50
1115
1304
Change
(%)
-0.24
0.04
0.68
2.16
3.36
0.82
-2.21
3.93
2.78
NCDEX Futures
Chana
Soyabean
Soyaoil
Jeera
Sugarm
Coriander
Chilli
Price
3083
3526
703.90
12637.5
2893
6736
6118
Change
-95.00
-99.50
14.00
-402.50
11.00
-326
46.00
Change(%)
-2.99
-2.75
2.03
-3.09
0.38
-4.62
0.76
Global Markets
Level
Change
Asian
2193.78
-34.37
Weekly Chart (MCX): Silver
MCX Futures
Crude Oil
Natural Gas
Copper
Nickel
Lead
Zinc
Aluminum
Gold
Silver
Shanghai
Change (%)
-1.54
Weekly Technical View: Silver
Silver future prices maintained positive trend during the week
and up by almost 3% but not able to break the important
resistance of 49100 level. Below this level metal remain
bearish and again may test new monthly low level. 14 Day
RSI prefers the firmness and remained in neutral region along
with stochastic are favouring the downward and moved in the
neutral region. MACD is supporting the bear as medium term
and moving in the negative territory. Concisely, prices are
likely to trade down in the coming trading week.
Nikkei
14561.54
156.8
1.09
HangSeng
23340.10
121.78
European
0.52
Short Term Trend- Bearish
FTSE
6,622.58
135.39
2.09
Support & Resistance:
CAC
4,286.03
66.05
1.57
DAX
8,865.10
140.27
US
1.61
DJIA
NASDAQ
15,399.65
162.54
1.07
3,914.28
122.47
3.23
RR, All Rights Reserved
S1
47300
S2
46250
PCP
48195
R1
49100
R2
50000
Recommendation: Based on the charts above, we
recommend selling in range of 48800-49300 levels for the
target of 47300 Stop loss above 50000 levels.
Page 1 of 4

2. India - National Statistical Data
Particular
Government Bond
10Y
Actual
Previous
Unit
8.64
8.76
Percent
61.39
62.50
Percent
19902.07
19893.85
Percent
Interbank Rate
12.02
11.26
Percent
GDP Growth Rate
1.30
0.80
Percent
GDP
1841.70
1872.90
Billion USD
GDP per capita
1106.80
1085.73
USD
GDP per capita
PPP
3340.60
3277.01
USD
GDP Annual
Growth Rate
4.40
4.80
Percent
Inflation Rate
6.10
5.79
Percent
Producer Prices
177.50
175.40
Index Points
Consumer Price
Index (CPI)
237
235
Index Points
Export Prices
223
196
Index Points
GDP Deflator
159.30
146.50
Index Points
Short Term Trend- Bearish
Import Prices
243
215
Index Points
Money Supply M2
19172.14
19349.17
INR BIL
Support & Resistance:
S1
S2
442
435
Money Supply M3
88356.72
87696.97
INR BIL
Currency
Stock Market
Weekly Chart (MCX): Copper
Weekly Technical View: Copper
On last week Copper closed at flat mode and trade near two
month low level and weekly chart pattern still looking weak.
We recommend sell Copper for medium term with stop loss of
463. The immediate support appears around 442 levels
breaching which the gas can reach 435 levels. Metal has
strong resistance at 456 levels. Technical indicators on daily
chart has generated fresh sell signal and indicate continues
of downward movement for next week.
PCP
448.80
R1
456
R2
463
Recommendation: Based on the charts above, we
recommend sell around 454 levels for the target of 442 and
put Stop loss above 463 on closing basis levels.
Economic Round-Up
•
India’s central bank is looking at ending an emergency facility under which it has directly sold dollars to state refiners
since late August, according to three people with knowledge of the matter. The rupee fell. The Reserve Bank of India
is in talks with the companies to gauge the potential impact of withdrawing the measure on the exchange rate, two of
the people said, asking not to be named as the discussions are private. The facility stays operational and “any tapering
of the window, as and when it occurs, will be done in a calibrated manner,” the RBI said in a statement on its website.
Under the contingency measure, the RBI provided the U.S. currency to Indian Oil Corp., Bharat Petroleum Corp. and
Hindustan Petroleum Corp., according to the central bank.RBI Governor Raghuram Rajan, who raised the benchmark
rate last month for the first time since 2011 to counter inflation, has said the bank will gradually scale back the dollar
supplies as the rupee stabilizes.
•
The Federal Reserve will delay the first reduction in its bond purchases until March after the government shutdown slowed
fourth-quarter growth and interrupted the flow of data, economists said. Policy makers will pare the monthly pace of asset
buying to $70 billion from $85 billion at their March 18-19 meeting, according to the median of 40 responses in a Bloomberg
News survey of economists. The 16-day budget impasse in Washington reduced growth by 0.3 percentage point this quarter.
The U.S. central bank will reduce monthly purchases to a $25 billion pace by July and end the program at the October 2014
meeting, according to the survey conducted this week. Chairman Ben S. Bernanke’s second term ends Jan. 31, and President
Barack Obama has nominated Vice Chairman Janet Yellen to succeed him.
• The shutdown delayed the publication of key economic reports from the Department of Labor and Department of
Commerce. It also prevented data collectors at the agency from gathering some of the data at the usual time period.
The Labor Department said two days ago the September jobs report will be released Oct. 22, while October’s will
be pushed back to Nov. 8 from Nov. 1.
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