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Epic research daily commodity report of 24 oct 2016
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24 Oct 2016
DAILY COMMODITY REPORT
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24 Oct 2016
COMMODITY CONTRACT OPEN PRICE HIGH LOW CLOSE PRICE OPEN INTEREST
GOLD 5-Dec 29850 29975 29810 29946 8133
SILVER 5-Dec 41839 42068 41816 41958 17126
CRUDEOIL 18-Nov 3390 3424 3373 3402 14616
NATURAL GAS 25-Nov 229.30 229.90 225.10 226.50 5034
COPPER 30-nov 312.05 312.35 310.30 310.95 40106
NICKEL 31-Oct 674.90 646.00 665.80 666.60 18173
LEAD 31-Oct 134.60 135.20 133.10 133.35 3331
ZINC 31-Oct 152.70 152.75 150.50 150.75 5835
ALUMINIUM 31-Oct 108.20 108.80 107.60 108.65 2108
DAILY MARKET WRAPUP
METAL TONNES IN STORAGE ( MT )
ALUMINIUM +18351
COPPER -1801
LEAD -676
NICKEL +580
ZINC -174
LME WAREHOUSE STOCKS (21-Oct- 2016)
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24 Oct 2016
COMMODITY UNITS PRICE CHANGE % CHANGE CONTRACT
Crude Oil (WTI) USD/bbl. 50.53 -0.32 -0.63% Oct 2016
Crude Oil (Brent) USD/bbl. 51.50 -0.28 -0.54% Nov 2016
RBOB Gasoline USD/gal. 152.41 -0.73 -0.48% Oct 2016
NYMEX Natural Gas USD/MMBTU 3.02 +0.03 +1.04% Oct 2016
NYMEX Heating Oil USDGAL. 156.85 -0.55 -0.35% Oct 2016
COMMODITY UNITS PRICE CHANGE % CHANGE CONTRACT
COMEX Gold USD/TZ 1,263.60 -4.10 -0.32% Dec 2016
Gold Spot USD/t oz. 1,262.96 -3.50 -0.28% N/A
COMEX Silver USD/t oz. 17.50 +0.01 +0.04% Dec 2016
COMEX Copper USD/lb. 209.85 +1.00 +0.48% Dec 2016
Platinum Spot USD/t oz. 936.05 +2.05 +0.22% N/A
INTERNATIONAL MARKETS
ENERGY COMMODITY FUTURES
PRECIOUS AND INDUSTRY METALS
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24 Oct 2016
MOST ACTIVE CONTRACTS
Symbol Expiry Date LTP Value (In Lacs) Volume (In Lots)
CRUDEOIL MINI 18-11-2016 3402.00 76,48,92,072.00 2,24,836
CRUDE OIL 18-11-2016 3402.00 55,80,94,698.00 1,64,049
NATURAL GAS 26-10-2016 201.30 1,16,51,646.60 57,882
SILVERMICRO 30-11-2016 41961.00 1,05,42,28,164.00 25,124
ZINCMINI 31-10-2016 150.90 37,73,556.30 25,007
LEADMINI 31-10-2016 133.40 31,71,318.20 23,773
NICKEL 31-10-2016 666.90 1,57,53,511.80 23,622
COPPER 30-11-2016 310.90 70,68,311.50 22,735
NICKELMINI 31-10-2016 667.00 1,29,80,487.00 19,461
ZINC 31-10-2016 150.90 29,18,406.00 19,340
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24 Oct 2016
SPECIAL NEWS
The European Union must choose between letting Rome hike
its budget deficit to cope with the costs of migrants and an
earthquake, or siding with the "Hungarian way" of building
barriers, Italy's economy minister said.The Italian government
has been stepping up anti-Brussels rhetoric after announcing
an expansionary 2017 budget plan on Oct. 15 ahead of a refer-
endum on constitutional reform that may decide Prime Minis-
ter Matteo Renzi's political future."Europe must choose which
side to take. They can accept the fact that our deficit goes up
from 2 percent to 2.3 percent (of gross domestic product) to
tackle the earthquake and the migrant emergencies," Pier
Carlo Padoan told la Repubblica daily in an interview on Sun-
day.
The European Union has given Belgium until late on Monday
to overcome opposition to a free trade deal with Canada from
its French-speaking region or a summit to sign the pact that
could boost both economies is off, EU sources said on Sun-
day.EU trade negotiators are rushing to assuage the Walloon
government's concerns before the Monday deadline set by Ca-
nadian Prime Minister Justin Trudeau to decide whether to fly
to Brussels, according sources familiar with the matterCanada,
the EU's 12th-largest trading partner, says it is ready to sign
the pact as planned on Thursday and year-long negotiations
were over, with trade minister Chrystia Freeland saying "the
ball is in the EU court."
COMMODITY BUZZ
Oil prices fell early on Monday as Iraq said it wanted to be ex-
empt from any deal by producer cartel OPEC to cut production
to prop up the market, and as U.S. drillers stepped up
work.Brent crude futures (LCOc1) were trading at $51.59 per
barrel at 0133 GMT, down 19 cents, or 0.4 percent, from their
last close.U.S. West Texas Intermediate (WTI) crude was down
22 cents, or 0.4 percent, at $50.63 a barrel.Traders said the price
falls followed comments from Iraq, which said it wanted to be
exempt from a production cut by the Organization of the Petro-
leum Exporting Countries (OPEC) that the group plans to de-
cide at its Nov. 30 meeting.OPEC plans to reduce production to
a range of 32.50 million to 33.0 million barrels per day (bpd),
down from 33.39 million bpd in September.
Gold prices traded in a narrow range in Asia on Monday with
investors noting domestic holiday-demand prospects in India
ahead of the festival season, while widely expecting a dampener
in the form of a Fed rate hike by the end of the year.Gold for
December delivery on the Comex division of the New York
Mercantile Exchange eased 0.04% to $1,267.25 a troy ounce.
Also on the Comex, silver futures for December delivery rose
0.26% to $17.538 a troy ounce. Copper futures for December
delivery were quoted flat at $2.090 a pound.Last week, gold
prices fluctuated between small gains and losses on Friday be-
fore ending almost flat as investors compared the effect of the
stronger dollar and expectations for increased demand from In-
dia on the precious metal.The U.S. dollar index hit its highest
levels since early February on Friday amid heightened expecta-
tions that the Federal Reserve will hike interest rates before the
end of this year.
COMMODITY BUZZ AND ECONOMIC EVENTS
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24 Oct 2016
COMMODITY NEWS
COMMODITY HEADLINES
Nickel dips on weak demand .
Improving US economic outlook lifts Copper.
Silver down on feeble global cues .
Natural gas dips as US supplies rise.
Gold down on strong dollar .
Aluminium futures gain on spot demand .
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24 Oct 2016
EPIC RESEARCH– ANALYST SPEAKS
GOLD
BUY GOLD DEC ABOVE 30050 TARGET 30150 30300 SL BELOW 29930
SELL GOLD DEC BELOW 29850 TARGET 29750 29600 SL ABOVE 29970
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24 Oct 2016
EPIC RESEARCH– ANALYST SPEAKS
SILVER
BUY SILVER DEC ABOVE 42070 TARGET 42270 42570 SL BELOW 41850
SELL SILVER DEC BELOW 41850 TARGET 41650 41350 SL ABOVE 42070
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24 Oct 2016
MONDAY, 24 OCTOBER 2016
Time Cur. Event Forecast Previous
02:15 USD FOMC Member Dudley Speaks
09:30 MYR CPI (YoY) (Sep) 1.7% 1.5%
12:05 JPY BoJ Governor Kuroda Speaks
19:45 USD FOMC Member Tarullo Speaks
21:30 EUR EU Leaders Summit
22:30 USD U.S. Baker Hughes Oil Rig Count 432
TODAY’S ECONOMIC EVENTS
11. YOUR MINTVISORY Call us at +91-731-6642300
24 Oct 2016
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