The daily commodity report summarizes prices and trading activity for gold, silver, and crude oil futures on May 29, 2012. Gold prices closed slightly higher after fluctuating during the day between gains and losses. Silver prices also closed modestly higher despite failing to sustain an early price increase. Crude oil prices bounced back from early lows to close with small gains. Technical indicators suggest prices may trade in a narrow range with potential for both further gains and losses.

1. Daily Commodity Report
29th May 2012
MCX GOLD (5 JUNE 12) - Gold opened lower at 28901. It moved
Gold Silver Crude
(5 Jun-12) (5 Jul-12) (19 Jun-12) lower to touch an intra-day low of 28882. However, it managed a
bounce back from lower levels. It moved higher to touch an intra-
Open 28,901 54,533 5,057 day high of 29055. It ended the day with marginal gains to close at
High 29,055 54,867 5,099 28965.
Low 28,882 54,302 5,057
The RSI is placed above its average and is managing to hold above
Close 28,965 54,351 5,071 it. Moreover, the Stochastic has moved above its average. Both
Prev. Close 28,925 54,479 5,054 these conditions would lead to regular buying support. The ADX
line, the –DI line and the +DI line are moving sideways, indicating a
% Change 0.14% -0.23% 0.34% range bound trend. MCX GOLD faces resistance at 29212, 29433
Source – MCX and 30000 while the supports are placed at 28960, 28084, 27855,
27557 and 26517 levels.
Volume (In 000's)
MCX SILVER (5 JULY 12) - Silver opened higher at 54533. It
28/5/2012 26/5/2012 % Chg.
moved higher to touch an intra-day high of 54867. However, it failed
Gold (gms) 17,158.0 1,427.0 1102.38% to sustain higher and moved lower to touch an intra-day low of
54302. It ended the day with modest gains to close at 54351.
Silver (kgs) 1,007.0 46.1 2086.71%
Crude (bbl) 7,821.6 262.9 2875.12% The RSI and the Stochastic are placed above their respective
Source – MCX averages, which would lead to buying support at regular intervals.
The ADX line, the +DI line and the –DI line are moving sideways,
Turnover (In Lacs) indicating a range bound trend. MCX Silver faces resistance at
55551, 56157, 57737, 61708 and 65159 while the supports are
28/5/2012 26/5/2012 % Chg. placed at 51029, 50252 and 48562 levels.
Gold 497,154.7 41,293.3 1103.96%
MCX CRUDE (19 June 12) - Crude opened higher at 5057 level.
Silver 549,565.0 25,095.9 2089.86% Incidentally this was the lowest price for the day. However, it
Crude 397,653.8 13,282.9 2893.73%
managed to bounce back from lower levels to move higher and
touch an intra-day high of 5099. It ended the day with modest gains
Source – MCX to close at 5071.
Global Market (Nymex - $) The RSI is placed above its average, which would lead to buying
29/5/2012 28/5/2012 % Chg. support. However, the Stochastic is placed below its average but is
placed in the over sold zone, which would lead to short covering.
Gold (oz) 1,575.40 1,568.80 0.42%
Though, the ADX line is trending the +DI line and the -DI line are
Silver (oz) 28.37 28.37 -0.01% moving sideways, indicating a range bound trend. It faces
Crude (bbl) 91.16 90.86 0.33% resistance at 5160, 5264 and 5392, while the supports are placed
at 5058, 5000, 4905 and 4722 levels.
Dollar Index 82.27 82.40 -0.17%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point
R1 R2 R3 S1 S2 S3
CRUDE JUN 12 5071 5076 5094 5118 5160 5052 5034 4992
GOLD JUN 12 28965 28967 29053 29140 29313 28880 28794 28621
SILVER JUL 12 54351 54507 54711 55072 55637 54146 53942 53377
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2. US Economic Calendar:
Tuesday Wednesday Thursday Friday Monday
May 29 May 30 May 31 Jun 01 Jun 04
Consumer Pending Home Sales GDP Data Employment Situation Factory Orders
Confidence Index
Dallas Fed Mfg MBA Purchase Jobless Claims Personal Income and 4-Week Bill
Survey Applications Outlays Announcement
State Street Investor ICSC-Goldman Store ADP Employment Construction 6-Month Bill Auction
Confidence Index Sales Report Spending
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