The daily commodity report summarizes prices and trading activity for gold, silver, and crude on the MCX exchange on May 25th, 2012. Gold prices closed slightly lower at 28,880 after reaching an intraday high of 29,102. Silver closed with moderate gains at 54,317 after touching 54,785 intraday. Crude oil closed marginally higher at 5092 after hitting an intraday high of 5111. Technical indicators like the RSI and Stochastic showed signs of potential profit taking. Trading volumes declined for gold and silver compared to the previous day.

1. Daily Commodity Report
25th May 2012
MCX GOLD (5 JUNE 12) - Gold opened lower at 29020. It
Gold Silver Crude
(5 Jun-12) (5 Jul-12) (19 Jun-12) managed to move higher to touch an intra-day high of 29102.
However, it failed to sustain higher and moved lower to touch an
Open 29,020 53,999 5,094 intra-day low of 28854. It ended the day with modest losses to close
High 29,102 54,785 5,111 at 28880.
Low 28,854 53,980 5,072 The RSI is placed above its average but is on verge of breaching it.
The Stochastic remains placed below its average and is still placed
Close 28,880 54,317 5,092
in the over bought zone, which would lead to profit taking and
Prev. Close 28,969 53,818 5,087 selling pressure especially at higher levels. The ADX line, the –DI
% Change -0.31% 0.93% 0.10%
line and the +DI line are moving sideways, indicating a range bound
trend. MCX GOLD faces resistance at 28960, 29212, 29433 and
Source – MCX 30000 while the supports are placed at 28084, 27855, 27557 and
26517 levels.
Volume (In 000's)
MCX SILVER (5 JULY 12) - Silver opened higher at 53999. It
24/5/2012 23/5/2012 % Chg. moved lower to touch an intra-day low of 53980. However, it
Gold (gms) 45,170.0 50,523.0 -10.60%
managed to bounce back from lower levels to move higher and
touch an intra-day high of 54785. It ended the day with moderate
Silver (kgs) 2,248.2 2,612.0 -13.93% gains to close at 54317.
Crude (bbl) 17,888.1 18,898.9 -5.35%
The RSI remains placed above its average, which would lead to
Source – MCX buying support at regular intervals. However, the Stochastic has
slipped below its average, which would lead to profit taking and
Turnover (In Lacs) selling pressure especially at higher levels. Though the ADX line
and the -DI line are trending and are still placed above the 30 level
24/5/2012 23/5/2012 % Chg. these have come off their recent highs, indicating sellers are
Gold 1,310,680.8 1,462,715.0 -10.39%
covering their shorts at regular intervals. MCX Silver faces
resistance at 55551, 56157, 57737, 61708 and 65159 while the
Silver 1,222,391.8 1,403,905.8 -12.93% supports are placed at 51029, 50252 and 48562 levels.
Crude 911,000.2 967,188.4 -5.81% MCX CRUDE (19 June 12) - Crude opened higher at 5094 level. It
Source – MCX moved higher to touch an intra-day high of 5111. However, it failed
to sustain higher and moved lower to touch an intra-day low of 5072
Global Market (Nymex - $) but managed to come off the lows. It ended the day with marginal
gains to close at 5092.
25/5/2012 24/5/2012 % Chg.
The RSI and the Stochastic are placed above their respective
Gold (oz) 1,557.40 1,557.30 0.01% averages, which would lead to buying support. The +DI line is
Silver (oz) 27.94 28.14 -0.71% moving sideways. Though, the ADX line and the -DI line are
trending above the 30 level, these have come off their recent highs,
Crude (bbl) 90.42 90.66 -0.26%
indicating sellers are covering their shorts at regular intervals. It
Dollar Index 82.39 82.35 0.05% faces resistance at 5160, 5264 and 5392, while the supports are
Source – www.cmegroup.com placed at 5058, 5000, 4905 and 4722 levels.
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point
R1 R2 R3 S1 S2 S3
CRUDE JUN 12 5092 5092 5111 5131 5170 5072 5053 5014
GOLD JUN 12 28880 28945 29037 29193 29441 28789 28697 28449
SILVER JUL 12 54317 54361 54741 55166 55971 53936 53556 52751
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2. US Economic Calendar:
Friday Tuesday Wednesday Thursday Friday
May 25 May 29 May 30 May 31 Jun 01
Consumer Sentiment Consumer Confidence Pending Home Sales GDP Data Employment Situation
Index
Dallas Fed Mfg MBA Purchase Jobless Claims Personal Income and
Survey Applications Outlays
State Street Investor ICSC-Goldman Store ADP Employment Construction
Confidence Index Sales Report Spending
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