The daily commodity report summarizes prices and trading activity for gold, silver, and crude oil on the MCX exchange. Gold prices opened lower but recovered slightly, closing with modest losses. Silver opened lower and fell further but also recovered, closing with marginal losses. Crude oil opened higher but then fell and rebounded, closing with moderate gains. The report provides technical analysis and resistance/support levels for each commodity.

1. Daily Commodity Report
21st September 2012
MCX GOLD (5 OCTOBER 12) –
Gold Silver Crude
(5 Oct-12) (5 Dec-12) (19 Oct-12) Gold opened lower at 32000. Incidentally, this was the highest
Open 32,008 64,320 5,016 price recorded for the day. It moved lower to touch an intra-day low
of 31831. It ended the day with modest losses to close at 31913.
High 32,008 64,525 5,043
Low 31,865 63,711 4,966 The RSI is placed below its average, which would lead to selling
pressure. However, the Stochastic is placed above its average,
Close 31,950 64,362 5,017 which would lead to buying support at lower levels. The ADX line
Prev. Close 32,048 64,480 5,015 and the +DI line are moving higher, indicating buyers are booking
profits regularly. MCX Gold faces resistance at 32100, 32393,
% Change -0.31% -0.18% 0.04%
32421 and 33000 while the support levels are placed at 31667,
Source – MCX 31467, 30837, 30428, 30340, 30179, 29668 and 28859.
Volume (In 000's) MCX SILVER (5 DECEMBER 12) –
20/09/2012 19/09/2012 % Chg. Silver opened lower at 64320 and moved further lower to touch an
Gold (gms) 46,973.0 17,310.0 171.36%
intra-day low of 61912. However, it managed to bounce back from
lower levels to move higher and touched an intra-day high of
Silver (kgs) 1,823.9 1,079.2 69.01% 64755. It ended the day with marginal losses to close at 63298.
Crude (bbl) 21,980.7 13,165.4 66.96%
The RSI is placed below its average and also in the over bought
Source – MCX zone, which would lead to selling pressure. However, the
Stochastic has moved above its average, which would lead to
Turnover (In Lacs) buying support at lower levels. The ADX line and the +DI line are
moving lower, indicating buyers are booking profits at regular
20/09/2012 19/09/2012 % Chg.
intervals. MCX Silver faces resistance at 65723, 66000 and 67000
Gold 150,001.1 554,119.0 -72.93% while the supports are placed at 62273, 61912, 61398, 60750 and
59512 levels.
Silver 1,170,085.3 695,767.1 68.17%
Crude 1,100,822.3 664,746.8 65.60% Positional Call – SELL MCX SILVER (5 DECEMBER 12) around
63761, Stop Loss 64825 Target of 61400
Source – MCX
MCX CRUDE (19 OCTOBER 12) –
Global Market (Nymex - $)
Crude opened higher at 5016 and moved further lower to touch an
21/09/2012 20/09/2012 % Chg.
intra-day low of 4966. However, it managed to bounce back from
Gold (oz) 1,773.10 1,770.20 0.16% lower levels to move higher and touched an intra-day high of 5043.
It ended the day with moderate gains to close at 5017.
Silver (oz) 34.76 34.68 0.22%
Crude (bbl) 92.91 92.42 0.53% The RSI and the Stochastic are placed below their respective
averages, which would lead to selling pressure. However, both the
Dollar Index 110.18 110.03 0.14%
RSI and Stochastic are placed in the over sold zone, which would
Source – www.cmegroup.com lead to intermediate bouts of short covering and buying support at
lower levels. Though the ADX line is moving lower, the –DI line has
moving higher, indicating sellers are booking profits at lower levels.
It faces resistance at 5050, 5180, 5275 and 5354 while the
supports are placed at 4950, 4892 and 4692.
NOTE – Stop Losses should be considered strictly on Closing
Basis
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2. Commodity News:
Brent crude jumps back above $110, halts 3-day slide
Brent crude prices rallied back above $110 a barrel on Thursday, recovering from a six-week low and halting a three-
day slide, while the expiring US front-month October crude dipped slightly and posted a fourth straight loss.
Commodity rally may end as stimulus fades
The biggest advances in commodities this year may be over because of mounting concern that policy makers aren't
doing enough to bolster economic growth at a time when producers are expanding supply.
Gold demand weak as strike hits retail buying
Gold demand was sluggish on Thursday as many jewellery shops were closed due to a nationwide strike, although the
price eased in the world's biggest consuming market following a drop overseas.
Source: ET
Economic Calendar:
Countries / Friday Monday Tuesday Wednesday
Regions 21/Sep 24/Sep 25/Sep 26/Sep
FX Reserves, USD
India
(Sep 9)
Bank Loan Growth
(Sep 2)
USD American Chicago Fed S&P/Case-Shiller MBA Mortgage
US Petroleum Institute National Activity Home Price Indices Applications (Sep
Monthly Report Index (Aug) (YoY) (Jul) 21)
Dallas Fed
USD Fed's Lockhart Consumer New Home Sales
Manufacturing
speech Confidence (Sep) (MoM) (Aug)
Business Index (Sep)
Richmond Fed
EIA Crude Oil Stocks
Manufacturing Index
change (Sep 21)
(Sep)
USD American Gfk Consumer Euro Consumer
Euro Import Price
Global Petroleum Institute Confidence Survey Price Index (MoM)
Index (MoM) (Aug)
Monthly Report (Oct) (Sep)
UK Nationwide China UBS
USD Fed's Lockhart Euro Retail Sales
Housing Prices n.s.a Consumption
speech (MoM) (Aug)
(YoY) (Aug) Indicator (Aug)
USD American
Euro IFO - Euro Wage Inflation Japan Foreign bond
Petroleum Institute
Expectations (Sep) (MoM) (Jul) investment (Sep 21)
Monthly Report
USD Fed's Lockhart
speech
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The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028. Tel: 3026 6000. Fax: 3026 6088.
www.keynotecapitals.com

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