1. Keynote Capitals Ltd.
4
th
Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com
23rd
December 2011
Gold
(4 Feb-12)
Silver
(5 Mar-12)
Crude
(19 Jan-12)
Open 27,751 53,000 5,225
High 27,806 53,460 5,275
Low 27,591 52,690 5,208
Close 27,698 52,894 5,268
Prev. Close 27,809 53,148 5,214
% Change -0.40% -0.48% 1.04%
Source – MCX
Volume (In 000's)
22/12/2011 21/12/2011 % Chg.
Gold (gms) 42,330.0 51,102.0 -17.17%
Silver (kgs) 1,696.0 2,278.5 -25.57%
Crude (bbl) 15,894.4 24,299.6 -34.59%
Source – MCX
Turnover (In Lacs)
22/12/2011 21/12/2011 % Chg.
Gold 1,172,826.8 1,425,996.0 -17.75%
Silver 899,268.8 1,218,745.3 -26.21%
Crude 832,903.7 1,258,621.4 -33.82%
Source – MCX
Global Market (Nymex - $)
23/12/2011 22/12/2011 % Chg.
Gold (oz) 1,612.00 1,608.90 0.19%
Silver (oz) 29.21 29.00 0.70%
Crude (bbl) 99.56 99.53 0.03%
Dollar Index 79.69 79.83 -0.18%
Source – www.cmegroup.com
MCX GOLD (FEB 12) - Gold opened lower at 27751. It touched an
intra-day high of 27806. However, Gold failed to sustain at higher
levels and selling pressure was witnessed. It touched an intra-day
low of 27591. It ended the day with modest losses to close at
27698.
The RSI remains placed below its average, which would lead to
selling pressure, especially at higher levels. However, the
Stochastic is placed above its average, which would lead to buying
support at lower levels. The ADX and +DI are moving sideways,
while -DI line is placed at 33.58, indicating sellers have an upper
hand. MCX GOLD faces resistance at 27954, 28152, 28960 and
29212, while the supports are placed at 26347, 25500 and 24992
levels.
MCX SILVER (MAR 12) - Silver opened lower at 53148. It touched
an intra-day high of 53460. However, it failed to sustain due to
selling pressure and touched an intra-day low of 52690. It ended the
day with modest losses to close at 52894.
The RSI remains placed below its average, which would lead to
further selling pressure. However, the Stochastic is placed above its
average, which would lead to intermediate bouts of buying support
at lower levels. The ADX and +DI are moving sideways, while -DI
line has witnessed is placed at 32.24, indicating sellers have an
upper hand. MCX Silver faces resistance at 54754, 61708, 61884
and 64605 levels, while the supports are placed at 52725, 52365,
51226 and 50223 levels.
MCX CRUDE (JAN 12) - Crude opened higher at 5225 level. It
moved lower during the day to touch an intra-day low of 5208 but
managed to bounce back due to buying support. It touched an
intra-day high of 5275. It ended the day with moderate gains to
close at 5268.
The RSI and the Stochastic are placed above their respective
average, which would lead to buying support. However, the
Stochastic is placed in the over bought zone, which would lead to
intermediate bouts of profit taking. The ADX and -DI line are moving
sideways, while the +DI line is moving higher and is placed at 37.11
indicating buyers have an upper hand. It faces resistance at 5342,
5360 and 5380 levels, while the supports are placed at 5200, 5174,
5115 and 5008 levels.
Commodities Close Pivot Point
Intra-day Resistance Intra-day Support
R1 R2 R3 S1 S2 S3
CRUDE JAN 12 5268 5250 5293 5317 5384 5226 5183 5116
GOLD FEB 12 27698 27698 27806 27913 28128 27591 27483 27268
SILVER MAR 12 52894 53015 53339 53785 54555 52569 52245 51475
Daily Commodity Report

2. Keynote Capitals Ltd.
4
th
Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com
US Economic Calendar:
Friday
Dec. 23
Tueday
Dec. 27
Wednesday
Dec. 28
Thursday
Dec. 29
Friday
Dec. 30
Durable Goods Orders Consumer Confidence
EIA Petroleum Status
Report
Jobless Claims Data Chicago PMI
New Home Sales
State Street Investor
Confidence Index
Bank Reserve
Settlement
Pending Home Sales
Index
Farm Prices Data
Personal Income and
Outlays
ICSC-Goldman Store
Sales
MBA Purchase
Applications
Money Supply Data

3. Keynote Capitals Ltd.
4
th
Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322
www.keynotecapitals.com
Disclaimer
This document is not for public distribution and has been furnished to you solely for your information and must not be reproduced or
redistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions.
This material is for the personal information of the authorized recipient, and we are not soliciting any action based upon it. This report is not
to be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation
would be illegal. It is for the general information of clients of Keynote Capitals Ltd. It does not constitute a personal recommendation or
take into account the particular investment objectives, financial situations, or needs of individual clients.
We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its accuracy or
completeness cannot be guaranteed. Neither Keynote Capitals Ltd., nor any person connected with it, accepts any liability arising from the
use of this document. The recipients of this material should rely on their own investigations and take their own professional advice. Price
and value of the investments referred to in this material may go up or down. Past performance is not a guide for future performance.
Certain transactions -including those involving futures, options and other derivatives as well as non-investment grade securities - involve
substantial risk and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stock’s price
movement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may not match with a report on a
company’s fundamentals.
Opinions expressed are our current opinions as of the date appearing on this material only. While we endeavor to update on a reasonable
basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so.
Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change
without notice. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the
recommendations expressed herein.
We and our affiliates, officers, directors, and employees world wide may: (a) from time to time, have long or short positions in, and buy or
sell the securities thereof, of company (ies) mentioned herein or (b) be engaged in any other transaction involving such securities and earn
brokerage or other compensation or act as a market maker in the financial instruments of the company (ies) discussed herein or act as
advisor or lender / borrower to such company (ies) or have other potential conflict of interest with respect to any recommendation and
related information and opinions.
The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the
subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly
related to specific recommendations or views expressed in this report.
No part of this material may be duplicated in any form and/or redistributed without Keynote Capitals Ltd’s., prior written consent.