The document provides a daily commodity outlook and summarizes movements in gold, silver, and crude futures contracts. Gold prices opened higher but saw profit taking, ending slightly up for the day. Silver saw lower intraday prices but recovered to close marginally higher. Crude opened at its high and fell through the day, ending with moderate losses. Technical indicators suggest sellers have an advantage in gold and crude, while short-term buyers may provide support in silver.

1. Daily Commodity Outlook
3rd October 2011
MCX GOLD (OCT 11) - Gold opened higher at 26080. It moved
Gold Silver Crude
(5 Oct-11) (5 Dec-11) (19 Oct-11) higher to touch 26109 during intra-day. However, profit taking and
selling pressure saw Gold come off the highs for the day to touch
Open 26080 51111 3985 intra-day low of 25983. It ended the day at 26031 level.
High 26109 51380 3985
The RSI is placed below its average, which would result in regular
Low 25983 50610 3913
bouts of selling pressure. However, the Stochastic is placed above its
Close 26031 51181 3933 average, which would lead to regular bouts of short covering and
Prev. Close 25989 51111 3995 buying support. It has also come off the over sold zone. The ADX,
+DI line are moving sideways but –DI line remains placed above the
% Change 0.16% 0.14% -1.55%
30 level, indicating sellers have an upper hand. MCX GOLD faces
Source – MCX resistance at 26376, 26700, 27964, 28235, 28525, 28744 levels,
while the supports are placed at 25512, 24992 and 23176 levels.
Volume (In 000's)
MCX SILVER (DEC 11) - Silver opened unchanged at 51111. It
1/10/2011 30/9/2011 % Chg.
moved lower to touch an intra-day low of 50610.However, Silver
Gold (grms) 1,858.0 39,061.0 -95.24% managed to bounce back to touch an intra-day high of 51380. It
ended the day with marginal gains to close at 51181.
Silver (kgs) 116.8 2,022.2 -94.22%
Crude (bbl) 806.8 19,393.5 -95.84% The RSI is placed below its average and near the over sold zone.
The Stochastic is placed above its average, which would lead to
Source – MCX
regular bouts of short covering and buying support. It has also come
off the over sold zone. The –DI line is moving down but still trading at
Turnover (In Lacs) 42.53 indicating sellers have an upper hand. MCX Silver faces
1/10/2011 30/9/2011 % Chg. resistance at 51352, 52365, 54377, 56981 and 61708 levels, while
the supports are placed at 49807, 45824 and 42708 levels.
Gold 48,370.0 1,013,037.8 -95.23%
Silver 59,636.4 1,042,052.9 -94.28% MCX CRUDE (OCT 11) - Crude opened lower at 3985 level, which
incidentally was also its intra-day high. It drifted lower during the
Crude 31,739.2 778,256.5 -95.92%
course of the day. Selling pressure was witnessed during the day as
Source – MCX Crude drifted lower to touch an intra-day low of 3913. It ended the
day at 3933 with moderate losses.
Global Market (Nymex - $)
The RSI is placed below its average, which would lead to selling
3/10/2011 1/10/2011 % Chg.
support. The Stochastic too is placed below its average and would
Gold (oz) 1,634.30 1,620.40 0.86% lead to further selling pressure. The –DI line is moving higher and is
placed above the 30 level indicating sellers have an upper hand.
Silver (oz) 30.35 30.04 1.03%
While the ADX and +DI line are moving sideways. It faces resistance
Crude (bbl) 78.30 79.20 -1.14% at 3985, 4083 and 4129 levels, while the supports are placed at
3850, 3883 and 3850 levels.
Dollar Index 79.08 78.80 0.36%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE OCT 11 3933 3944 3974 4016 4088 3902 3872 3800
GOLD OCT 11 26031 26041 26099 26167 26293 25973 25915 25789
SILVER DEC 11 51181 51057 51504 51827 52597 50734 50287 49517
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