- The daily commodity report summarizes prices and trends for gold, silver, and crude on the MCX exchange for July 24, 2012. - Gold prices opened higher but fell intraday before closing with moderate gains. Silver opened lower but recovered to close with marginal gains. Crude opened lower and closed with moderate losses. - Technical indicators like the RSI and stochastic showed buying support for gold and silver but were positioned for potential profit taking in silver. Crude's technicals pointed to selling pressure.

1. Daily Commodity Report
24th July 2012
MCX GOLD (4 AUGUST 12) - Gold opened higher at 29309 but
Gold Silver Crude
(4 Aug-12) (5 Sep-12) (20 Aug-12)
later moved lower to touch an intra-day low of 29297. However, it
managed to bounce back from lower levels to touch an intra-day
Open 29,309 52,805 5,078 high of 29481. It ended the day with moderate gains to close the
High 29,481 53,070 5,078 day at 29448.
Low 29,297 52,502 4,957 The RSI and the Stochastic are placed above their respective
Close 29,448 52,923 5,025 averages, which would result in buying support. The ADX line, +DI
line and –DI line are moving sideways, indicating a range bound
Prev. Close 29,277 52,842 5,093
trend. MCX GOLD faces resistance at 29668, 30179, 30340, 30428
% Change 0.58% 0.15% -1.34% and 31000, while the supports are placed at 28859, 28765 and
27962 levels.
Source – MCX
MCX SILVER (5 SEPT 12) - Silver opened lower at 52805 and
Volume (In 000's)
moved lower to touch an intra-day low of 52502. However, it
23/7/2012 21/7/2012 % Chg. managed to bounce back from lower levels to touch an intra-day
high of 53070. It ended the day with marginal gains to close at
Gold (gms) 40,149.0 1,225.0 3177.47% 52923.
Silver (kgs) 1,375.4 31.5 4266.38%
The RSI and the Stochastic are placed above their respective
Crude (bbl) 34,095.0 505.7 6642.14%
averages, which would result in buying support. However, the
Source – MCX Stochastic has also moved in the over bought zone, which would
lead to profit taking at higher levels. The ADX line, +DI line and –DI
Turnover (In Lacs) line are moving sideways, indicating a range bound trend. MCX
Silver faces resistance at 53675, 54570, 55551, 56157 and 57737
23/7/2012 21/7/2012 % Chg. while the supports are placed at 51559, 51029, and 50252 levels.
Gold 1,179,454.9 35,867.2 3188.39%
MCX CRUDE (20 August 12) - Crude opened lower at 5078 level.
Silver 726,023.7 16,640.7 4262.93% Incidentally, this was the highest price recorded for the day. It
Crude 1,706,243.1 25,728.2 6531.80%
moved lower to touch an intra-day low of 4957. It ended the day
with moderate losses to close at 5025.
Source – MCX
The RSI has slipped below its average. Moreover the Stochastic is
Global Market (Nymex - $) already placed below its average and is also placed in the over
24/7/2012 23/7/2012 % Chg. bought zone. These conditions would lead to selling pressure and
profit taking at regular intervals. The +DI line and ADX line are
Gold (oz) 1,575.50 1,577.40 -0.12% moving lower and have come off their recent highs, indicating
Silver (oz) 26.99 27.04 -0.21% buyers are booking profits at regular intervals. It faces resistance at
5184, 5217 and 5290 while the supports are placed at 4777, 4737
Crude (bbl) 88.16 88.14 0.02%
and 4681.
Dollar Index 83.69 83.71 -0.02%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE AUG 12 5025 5020 5083 5141 5262 4962 4899 4778
GOLD AUG 12 29448 29409 29520 29593 29777 29336 29225 29041
SILVER SEP 12 52923 52832 53161 53400 53968 52593 52264 51696
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2. US Economic Calendar:
Tuesday Wednesday Thursday Friday Monday
Jul 24 Jul 25 Jul 26 Jul 27 Jul 30
Richmond Fed New Home Sales Jobless Claims GDP Data Dallas Fed Mfg Survey
Manufacturing Index
PMI Manufacturing EIA Petroleum Status Durable Goods Orders Consumer Sentiment 4-Week Bill
Index Flash Report Announcement
ICSC-Goldman Store MBA Purchase Pending Home Sales 3-Month Bill Auction
Sales Applications Index
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