1. Daily Commodity Report
7th February 2013
Gold Silver Crude MCX GOLD (5 APRIL 13) –
06-Feb-13
Expiry 05-Apr-13 05-Mar-13 19-Feb-13 Gold opened lower at 30598 and moved further lower to touch an
Open 30,598 58,275 5,140 intra-day low of 30565. However, it managed to bounce back and
moved higher to touch an intra-day high of 30767. It ended the day
High 30,767 58,478 5,155
with modest gains to close at 30711.
Low 30,565 58,076 5,070
The RSI has moved above its average. Moreover, the Stochastic is
Close 30,711 58,376 5,139 already placed above its average. These positive conditions would
Prev. Close 30,599 58,356 5,144 lead to buying support. The ADX line, –DI line and +DI line are
moving sideways indicating a range bound trend. MCX Gold faces
% Change 0.37% 0.03% -0.10%
resistance at 30916 and 31535 while the support levels are placed
Source – MCX at 30475, 30150, 30000, 29500 and 29142.
Volume (In 000's) MCX SILVER (5 MARCH 13) –
6-Feb-13 5-Feb-13 % Chg. Silver opened lower at 58275 and moved further lower to touch an
Gold (gms) 30,898.0 41,090.0 -24.80% intra-day low of 58076. However, it managed to bounce back and
moved higher to touch an intra-day high of 58478. It ended the day
Silver (kgs) 1,255.2 1,916.0 -34.49% flat to close at 58376.
Crude (bbl) 24,039.1 15,532.6 54.77%
The Stochastic has moved below its average, which would lead to
Source – MCX selling pressure at higher levels. However, the RSI is placed above
its average, which would result in buying support at lower levels.
Turnover (In Lacs) The ADX line, –DI line and +DI line are moving sideways,
indicating a range bound trend. MCX Silver faces resistance at
6-Feb-13 5-Feb-13 % Chg.
59483, 61484, 62164 and 63224 while the supports are placed at
Gold 947,261.9 1,261,605.5 -24.92% 57049, 56372 and 55952 levels.
Silver 731,455.9 1,119,710.6 -34.67%
MCX CRUDE (19 FEBRUARY 13) –
Crude 1,229,339.2 798,981.1 53.86%
Crude opened lower at 5140 and moved further lower to touch an
Source – MCX
intra-day low of 5070. However, it managed to bounce back and
moved higher to touch an intra-day high of 5155. It ended the day
Global Market (Nymex - $)
with marginal losses to close the day at 5139.
07/02/2013 06/02/2013 % Chg.
The RSI is placed below its average, which would lead to selling
Gold (oz) 1,679.00 1,678.90 0.01% pressure. However, the Stochastic has moved above it s average,
Silver (oz) 31.85 31.88 -0.09% which would lead to buying support at lower levels. The -DI line is
placed above the +DI line and above the 28 level, sellers are
WTI Crude (bbl) 96.79 96.63 0.17%
gaingin strength. It faces resistance at 5157, 5300, 5401 and
Brent Crude (bbl) 116.92 116.72 0.17% 5476, while the supports are placed at 5122, 5085 and 4961
Dollar Index 79.80 79.74 0.08%
Sanjay Bhatia (AVP – Technical Research)
Source – www.cmegroup.com Email sanjay@keynotecapitals.net Yahoo Id: keytechnicals@yahoo.in
NOTE – Stop Losses should be considered strictly on Closing
Basis
Keynote Capitals Ltd.
The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028. Tel: 3026 6000. Fax: 3026 6088.
www.keynotecapitals.com
2. Commodity News:
Gold edges higher as equities come under pressure
Gold recovered early losses on Wednesday to edge higher after stocks came under pressure from renewed concerns
over the euro zone economy, though caution ahead of a European Central Bank meeting knocked the euro lower.
Platinum and palladium held near 17-month highs, meanwhile, benefiting from rising appetite for industrial metals as
confidence in the growth outlook improved, and on concerns over the supply outlook from major producers South
Africa and Russia.
Silver moves down in futures trade on reduced offtake
Silver prices moved down by Rs 250 to Rs 59,491 per kg in futures trade today due to reduced offtake by traders on
subdued demand in the spot market amid a weak global trend. At the Multi Commodity Excahnge, silver for delivery in
May fell by Rs 250 to Rs 59,491 per kg in business turnover of 368 lots.
Brent holds above $116 on US data, euro zone optimism
Brent crude futures held above $116 per barrel on Wednesday after positive economic data from the United States
and Europe bolstered the view that the global economy is on the mend. The vast U.S. services sector extended a
three-year run of growth, boosting riskier assets, while data showing signs of recovery in Europe's business activity
also helped calm nerves jarred by fears a potential political turmoil would derail the region's efforts to resolve its debt
crisis.
Source: ET
Economic Calendar:
Countries / Thursday Friday Monday
Regions 07/13 08/13 11/13
India Bank Loan Growth (Jan 21)
FX Reserves, USD (Feb 10)
US Consumer Credit Change Trade Balance (Dec)
(Dec)
European Monetary Union
ECB Monetary policy China Consumer Price Japan Consumer
Global
statement and press Index (YoY) (Jan) Confidence Index (Jan)
conference
Germany Wholesale Price
UK NIESR GDP Estimate China Trade Balance (Jan)
Index (YoY) (Jan)
(3M) (Jan)
UK BoE Interest Rate Germany Trade Balance Japan Money Supply
Decision s.a. (Dec) M2+CD (YoY) (Jan)
Keynote Capitals Ltd.
The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028. Tel: 3026 6000. Fax: 3026 6088.
www.keynotecapitals.com
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