- The daily commodity report summarizes prices and trading activity for gold, silver, and crude oil futures on the MCX exchange for May 18th, 2012. - Gold prices opened lower but gained over the day, closing up 2.02% while silver gained 3.05% and crude oil fell 0.32%. - Technical indicators show buying support for gold and silver but selling pressure for crude oil, though it remains in oversold territory.

1. Daily Commodity Report
18th May 2012
Gold Silver Crude MCX GOLD (5 JUNE 12) - Gold opened lower at 27990.
(5 Jun-12) (5 Jul-12) (21 May-12) Incidentally, this was the lowest price for the day. It moved higher
to touch an intra-day high of 28598. It ended the day with moderate
Open 27,990 51,893 5,058
gains to close at 28527.
High 28,598 53,608 5,106
Low 27,990 51,893 5,012 The RSI has moved above its average. Moreover, the Stochastic is
already placed above its average. These conditions would lead to
Close 28,527 53,134 5,032
buying support at regular intervals. The ADX line and the +DI line
Prev. Close 27,962 51,559 5,048 are moving sideways but the -DI line has come off its recent highs
% Change 2.02% 3.05% -0.32% indicating sellers have covered their shorts. MCX GOLD faces
Source – MCX
resistance at 28960, 29212 and 29433, while the supports are
placed at 28084, 27855, 27557 and 26517 levels.
Volume (In 000's)
MCX SILVER (5 JULY 12) - Silver opened lower at 51893.
17/5/2012 16/5/2012 % Chg. Incidentally, this was the lowest price for the day. It moved higher
Gold (gms) 53,354.0 53,502.0 -0.28% to touch an intra-day high of 53608. It ended the day with moderate
gains to close at 53134.
Silver (kgs) 2,980.6 3,228.6 -7.68%
Crude (bbl) 19,942.4 24,370.2 -18.17% The RSI and the Stochastic have moved above their respective
Source – MCX averages, which would lead to buying support. The ADX line and
the +DI line are moving sideways but the -DI line has come off its
Turnover (In Lacs) recent highs indicating sellers have covered their shorts. MCX
Silver faces resistance at 55551, 56157, 57737, 61708 and 65159
17/5/2012 16/5/2012 % Chg.
while the supports are placed at 51029, 50252 and 48562 levels.
Gold 1,511,735.5 1,498,197.2 0.90%
MCX CRUDE (21 May 12) - Crude opened higher at 5058 level It
Silver 1,574,338.9 1,689,815.3 -6.83%
moved higher to touch an intra-day high of 5106. However, it failed
Crude 1,009,756.1 1,231,415.0 -18.00% to sustain higher. It moved lower to touch an intra-day low of 5012.
Source – MCX It ended the day with modest losses to close at 5032.
Global Market (Nymex - $) The RSI and the Stochastic are placed below their respective
averages, which would lead to selling pressure. But both are also
18/5/2012 17/5/2012 % Chg.
placed in the over sold zone, which would lead to regular bouts of
Gold (oz) 1,575.50 1,574.90 0.04% short covering at lower levels. The ADX line and the +DI line are
Silver (oz) 28.02 28.00 0.06% moving sideways. The -DI line is placed at 36.22 level but has
come off its recent highs indicating sellers are covering shorts at
Crude (bbl) 92.68 92.56 0.13%
regular intervals. It faces resistance at 5057, 5160, 5264 and 5392,
Dollar Index 81.69 81.38 0.37% while the supports are placed at 5000, 4905 and 4722 levels.
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE MAY 12 5032 5050 5088 5144 5238 4994 4956 4862
GOLD JUN 12 28527 28372 28753 28980 29588 28145 27764 27156
SILVER JUL 12 53134 52878 53864 54593 56308 52149 51163 49448
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2. US Economic Calendar:
Monday Tuesday Wednesday Thursday Friday
May 21 May 22 May 23 May 24 May 25
Chicago Fed National Existing Home Sales New Home Sales Jobless Claims Consumer Sentiment
Activity Index
4-Week Bill ICSC-Goldman Store EIA Petroleum Status Durable Goods
Announcement Sales Report Orders
3-Month Bill Auction Richmond Fed MBA Purchase Bloomberg Consumer
Manufacturing Index Applications Comfort Index
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