- The daily commodity report summarizes movements in gold, silver, and crude oil futures contracts on the MCX exchange on January 23rd, 2012. - Gold futures ended the day with a marginal gain after recovering from intraday losses. Silver futures gained moderately and crude oil futures fell with moderate losses. - Technical indicators for gold and silver, such as the RSI and stochastic, signaled potential buying support, while crude oil's technical signals pointed to potential further selling pressure.

1. Daily Commodity Report
23rd January 2012
MCX GOLD (FEB 12) - Gold opened higher at 27488. It moved
Gold Silver Crude
(4 Feb-12) (5 Mar-12) (20 Feb-12)
lower to touch an intra-day low of 27475. However, it recovered and
moved higher to touch an intra-day high of 27524 on back of short
Open 27,488 55,040 4,994 covering and buying support. It ended the day with marginal gains
High 27,524 55,879 4,994 to close at 27490.
Low 27,475 55,040 4,971 The RSI and Stochastic are placed above their respective averages,
Close 27,490 55,548 4,979 which would result in buying support. Moreover, the Stochastic is
still placed near the over sold zone, which would result in
Prev. Close 27,448 54,825 5,006
intermediate bouts of short covering and buying support. The ADX
% Change 0.15% 1.32% -0.54% line, -DI line and +DI line are moving sideways, indicating a range
bound trend. MCX GOLD faces resistance at 27954, 28152, 28960
Source – MCX
and 29212, while the supports are placed at 26347, 25500 and
24992 levels.
Volume (In 000's)
21/1/2012 20/1/2012 % Chg. MCX SILVER (MAR 12) - Silver opened higher at 55040. It moved
lower to touch an intra-day low of 55040. However, it recovered and
Gold (gms) 2,365.0 43,479.0 -94.56% moved higher to touch an intra-day high of 55879 on back of buying
Silver (kgs) 186.4 2,520.9 -92.61% support. It ended the day with moderate gains to close at 55548.
Crude (bbl) 473.1 18,745.6 -97.48%
The RSI and the Stochastic are placed above their respective
Source – MCX averages, which would result in buying support. However, the
Stochastic is placed in the over bought territory and would lead to
Turnover (In Lacs) profit taking and selling pressure. The ADX line, -DI line are moving
sideways but +DI line is placed at 39.53 level, indicating buyers are
21/1/2012 20/1/2012 % Chg. gaining strength. MCX Silver faces resistance at 53874, 54184,
Gold 65,026.4 1,189,113.2 -94.53%
56578, 56952 and 57190 levels, while the supports are placed at
53387, 52001, 51749 and 50218 levels.
Silver 103,592.7 1,359,058.5 -92.38%
Crude 23,552.6 943,554.6 -97.50%
MCX CRUDE (FEB 12) - Crude opened lower at 4994 level.
Incidentally, this was the highest price for the day. It moved lower
Source – MCX on back of selling pressure. It touched an intra-day low of 4971. It
ended the day with moderate losses to close the day at 4979.
Global Market (Nymex - $)
The RSI is placed below its average, which would result in
23/1/2012 21/1/2012 % Chg.
intermediate bouts of selling pressure. However, the Stochastic is
Gold (oz) 1,668.10 1,664.00 0.25% placed above its average and is also placed in the over sold zone,
which would lead to intermediate bouts of short covering and buying
Silver (oz) 31.97 31.65 1.02%
support. The ADX line and +DI line are moving sideways. However,
Crude (bbl) 98.04 98.33 -0.29% -DI line is placed at 32.32 indicating sellers have an upper hand. It
Dollar Index 80.35 80.16 0.25% faces resistance at 5003, 5065, 5115, 5174 and 5200, while the
supports are placed at 4950, 4903 and 4877 levels.
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE FEB 12 4979 4981 4992 5004 5027 4969 4958 4935
GOLD FEB 12 27490 27496 27518 27545 27594 27469 27447 27398
SILVER MAR 12 55548 55489 55938 56328 57167 55099 54650 53811
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2. US Economic Calendar:
Monday Tuesday Wednesday Thursday Friday
Jan. 23 Jan. 24 Jan. 25 Jan. 26 Jan. 27
4-Week Bill FOMC Meeting Begins FOMC Meeting Jobless Claims US GDP Data
Announcement Announcement
3-Month Bill Auction US President Barack Pending Home Sales Durable Goods Orders Consumer Sentiment
Obama Speaks Index
6-Month Bill Auction ICSC-Goldman Store EIA Petroleum Status New Home Sales
Sales Report
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