Daily Commodity Market News By Epic Research - 20th February 2014

COMMODITY WRAPUP

GOLD

Yesterday Intraday Range of GOLD MCX was 398. Open Interest was down. Volumes were 18497 lots. For today Keep a close eye

on US data, volatility may Rule the overall Market due to USDINR Movements.

GOLD MCX Short term trend is UP. Immediate support @ 29500 Immediate Resistance @ 30500

BUY GOLD(APR) ABOVE 30250 TGTS 30330/30430 SL 30130

SELL GOLD(APR) BELOW 29840 TGTS 29760/29660 SL 29960

SILVER

Yesterday Intraday Range of SILVER MCX was 641. Open Interest was down. Volumes were 22275 lots. For today Keep a close eye

on US data, volatility may Rule the overall Market due to USDINR Movements.

SILVER MCX Short term trend is UP, Immediate support @ 45700 Immediate Resistance @ 49600

BUY SILVER ABOVE 48050 TGTS 48250/48550 SL 47700

SELL SILVER BELOW 47500 TGTS 47200/46850 SL 47850

DHANIYA

Dhaniya March contract consolidating in a range, expecting from new high, trend is bullish fundamentally it is also strong

and supports its bullishness. Immediate support @ 8905 and immediate resistance @ 8975.

BUY DHANIYA APR ABOVE 8975 TGTS 9005,9055 SL 8925

SELL DHANIYA APR BELOW 8905 TGTS 8875,8825 SL 8955

SPECIAL NEWS

India’s natural rubber imports have surged by 46% over last three years The applied rate of basic customs duty effective from 9 January 2004 is 20% for dry forms of NR and 70% for latex. In December 2010, import duty on dry forms of NR was revised as 20% or Rs. 20 per kg whichever is lower. In January 2012, import duty on latex was revised as Rs. 49 per kg if the duty amount per kg calculated at the rate of 70%advalorem is more than Rs. 49 per kg. The Government has revised the import duty on dry forms of NR from “20% or Rs. 20.00 per kg whichever is lower” to 20% or Rs. 30.00 per kg whichever is lower” with effect from 20 December 2013.

Global consumption for January to December 2013 was 21.003 million tonnes and the comparable figure for the whole of 2012 was 20.054 million tonnes. Chinese apparent consumption in January to December 2013 rose by 990000 tonnes to 9.83 million tonnes, which represented nearly 47 percent of global demand. EU27 demand was, at 3.055 mil- lion tonnes, 0.3 percent above the January to December 2012

total. In December 2013, refined copper consumption was 1.835 million tonnes.

COMMODITY BUZZ

Copper marked a surplus in the January-December 2013 period. The copper market recorded a surplus of 387 kt in January to December 2013 which follows a surplus of 250000 ton- nes in the whole of 2012. Reported stocks fell by 65000 tonnes during December and ended the month 153000 tonnes lower

than at the end of 2012.

World mine production in January to December 2013 was 18.32 million tonnes which was 7.2 percent higher than in the same period in 2012. Global refined production rose to 21.39 million tonnes up 5.3 percent compared with the previous year with a significant increase recorded in China of 1.015 million tonnes more than compensating for the 147000 tonnes fall in Chilean output and a 71000 tonnes drop in Indian pro- duction. In December 2013, refined copper production was 1.85 mn tonnes. India registered a demand of 974.8 tons of gold in 2013, the third highest annual volume. Higher import duties and deter- ring import quotas not to speak of discouraging of gold-related lending and even coin sales led to contraction of supplies. Reports suggest that, the ongoing level of drilling activity is

very much sufficient to help maintain Eagle Ford’s natural gas output.

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