The daily commodity report summarizes the movement of gold, silver, and crude oil futures on the MCX exchange on December 14, 2012. Gold prices opened lower but later increased, though failed to sustain the gains and closed with moderate losses. Silver prices opened lower and fell further to close with large losses. Crude oil opened lower as well but recovered some losses to close with modest losses. Technical indicators for gold, silver and crude oil signal further downward pressure.

1. Daily Commodity Report
14th December 2012
Gold Silver Crude MCX GOLD (5 FEBRUARY 13) –
13-Dec-12
Expiry 5-Feb-13 5-Mar-13 18-Dec-12 Gold opened lower at 31380 but moved higher to touch an intra-
day high 31386. However, it failed to sustain higher and moved
Open 31,380 63,065 4,721
lower to touch an intra-day low of 31091. It ended the day with
High 31,386 63,065 4,735 moderate losses to close at 31227.
Low 31,091 61,415 4,694
The Stochastic has slipped below its average. Moreover, the RSI is
Close 31,227 61,508 4,716 already placed below its average. These negative conditions would
Prev. Close 31,397 63,224 4,729 lead to selling pressure. The -DI line after a brief fall has once
again started to move higher and is placed above 34 level,
% Change -0.54% -2.71% -0.27% indicating sellers are again building short positions. MCX Gold
Source – MCX faces resistance at 31290, 31790, 32270 and 32421 while the
support levels are placed at 31076, 30916, and 30837.
Volume (In 000's)
13-Dec-12 12-Dec-12 % Chg. MCX SILVER (5 MARCH 13) –
Gold (gms) 39,830.0 39,373.0 1.16% Silver opened lower at 63065. Incidentally, this was the highest
Silver (kgs) 2,409.1 1,957.4 23.08% price recorded for the day. It moved lower to touch an intra-day low
of 61415. It ended the day with large losses to close at 61508.
Crude (bbl) 18,672.6 25,949.9 -28.04%
Source – MCX The RSI and the Stochastic have slipped below their respective
averages, which would lead to selling pressure. The –DI line is
Turnover (In Lacs) placed above the +DI line indicating sellers are gaining strength.
MCX Silver faces resistance at 63271, 63734 and 64284, while the
13-Dec-12 12-Dec-12 % Chg. supports are placed at 60335, 59252 and 57599 levels.
Gold 1,241,906.8 1,236,432.8 0.44%
Positional Call – SELL MCX SILVER (5 MARCH 13) below
Silver 1,492,134.2 1,228,004.4 21.51% 61500, Stop Loss 31666 Target of 61133
Crude 879,898.3 1,220,799.2 -27.92%
MCX CRUDE (18 DECEMBER 12) –
Source – MCX
Crude opened lower at 4721 and moved lower to touch an intra-
Global Market (Nymex - $) day low of 4694. However, it managed to bounce back from lower
levels to move higher and touched an intra-day high of 4735. It
14/12/2012 13/12/2012 % Chg. ended the day with modest losses to close at 4716.
Gold (oz) 1,697.80 1,697.10 0.04%
The RSI and the Stochastic are already placed above their
Silver (oz) 32.66 32.36 0.93% respective averages, which would lead to buying support. The ADX
WTI Crude (bbl) 86.43 85.89 0.63% line, the +DI line and the –DI line are moving sideways indicating a
range bound trend. It faces resistance at 4760, 4892, and 4950
Brent Crude (bbl) 108.28 107.91 0.34%
while the supports are placed at 4692, 4603, 4578 and 4448
Dollar Index 79.91 79.93 -0.03%
Source – www.cmegroup.com Sanjay Bhatia (AVP – Technical Research)
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:
Crude Oil falls to $109 on rising US stockpiles
Brent crude slipped toward $109 a barrel on Thursday on rising US oil stockpiles, while fears that the world's largest
economy might miss a deadline for next year's budget and risk a recession also kept bulls in check. Brent crude fell
19 cents to $109.31 a barrel, while US crude was at $86.34, down 43 cents. The January Brent contract expires on
Friday. Similarly, palm, the world's most consumed cooking oil, tumbled to the lowest level in more than three years
amid record inventories in Malaysia and on signs that global supplies will be more than enough to meet demand.
Gold demand weak as buyers opt for recycled jewellery
Gold sales have slumped from November-end as most parents of brides-to-be recycled old jewellery as a pocket-
friendly solution to meet the wedding demand. Investment demand in gold is also slowing as consumers are now
exploring tax-saving instruments as the financial year is coming to a close.
Falling prices due to increase in supply spur CCI to buy cotton
The Cotton Corporation of India (CCI) has begun commercial procurement in Madhya Pradesh, Karnataka and Odisha
where prices have fallen following an increase in supplies. The National Spot Exchange (NSEL) has started
procurement on behalf of National Agricultural Cooperative Marketing Federation of India (Nafed) in Andhra Pradesh.
Source: ET
Economic Calendar:
Countries / Friday Monday Tuesday
Regions 14/Dec 17/Dec 18/Dec
India WPI Inflation (Nov) Cash Reserve Ratio (Dec 18)
Bank Loan Growth (Nov 25)
FX Reserves, USD (Dec 14)
Consumer Price Index (YoY) NY Empire State
US Current Account (Q3)
(Nov) Manufacturing Index (Dec)
Markit Manufacturing PMI NAHB Housing Market Index
(Dec) (Dec)
Euro Consumer Price Index Euro Trade Balance n.s.a. UK Consumer Price Index
Global
(YoY) (Nov) (Oct) (MoM) (Nov)
Japan Capacity Utilization
Japan Import & Export data
(Oct)
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