The daily commodity report recaps the movement of gold, silver, and crude prices on the MCX exchange. Gold and crude prices closed nearly flat, while silver closed with moderate losses. Technical indicators suggest sellers are covering positions at lower price levels for gold and silver. Crude is supported by positive technical indicators. The report also provides international commodity prices and highlights recent news about changes to sugar regulations in India and gold import trends.

1. Daily Commodity Report
29th January 2013
Gold Silver Crude MCX GOLD (5 FEBRUARY 13) –
28-Jan-13
Expiry 5-Feb-13 5-Mar-13 19-Feb-13 Gold opened higher at 30337but failed to sustain higher and
Open 30,337 58,151 5,190 moved lower to touch an intra-day low of 30278. However, it
managed to bounce back from lower levels to touch an intra-day
High 30,427 58,454 5,235
high of 30427. It ended the day flat to close at 30338.
Low 30,278 57,677 5,175
The Stochastic and tShe RSI are placed below their respective
Close 30,338 57,762 5,213 averages, which would lead to selling pressure. However, the
Prev. Close 30,331 58,250 5,194 Stochastic is still placed in the over sold zone, which would result
in regular bouts of short covering at lower levels. The –DI line is
% Change 0.02% -0.84% 0.37%
placed above the +DI line but has come off its recent highs,
Source – MCX indicating sellers are covering their short positions at lower levels.
MCX Gold faces resistance at 30475, 30916 and 31535 while the
Volume (In 000's) support levels are placed at 30150 and 29607.
28-Jan-13 25-Jan-13 % Chg. MCX SILVER (5 MARCH 13) –
Gold (gms) 30,706.0 26,569.0 15.57%
Silver opened lower at 58151 but moved higher to touch an intra-
Silver (kgs) 1,876.4 1,518.8 23.54% day high of 58454. However, it failed to sustain higher and moved
Crude (bbl) 19,866.4 11,643.3 70.63% lower to touch an intra-day low of 57677. It ended the day with
moderate losses to close at 57762.
Source – MCX
The Stochastic and the RSI are placed below their respective
Turnover (In Lacs) averages, which would lead to selling pressure. However, the
Stochastic is still placed in the over sold zone, which would result
28-Jan-13 25-Jan-13 % Chg.
in regular bouts of short covering at lower levels. The –DI line is
Gold 931,773.6 806,424.8 15.54% placed above the +DI line and is also placed above the 33 level,
indicating sellers are gaining strength. MCX Silver faces
Silver 1,088,250.2 889,083.9 22.40%
resistance at 59483, 61484, 62164 and 63224 while the supports
Crude 1,032,997.4 603,656.4 71.12% are placed at 57049, 56372 and 55952 levels.
Source – MCX
MCX CRUDE (19 FEBRUARY 13) –
Global Market (Nymex - $)
Crude opened lower at 5190 and moved further higher to touch an
29/01/2013 28/01/2013 % Chg. intra-day high of 5235. However, it failed to sustain higher and
moved lower to touch an intra-day low of 5175. It managed to
Gold (oz) 1,661.10 1,655.20 0.36% again come off the lows for the day to end the day with modest
Silver (oz) 31.02 30.78 0.78% gains. It closed the day at 5213.
WTI Crude (bbl) 96.66 96.44 0.23% The RSI has moved above its average. Moreover, the Stochastic is
Brent Crude (bbl) 113.55 113.48 0.06% already placed above its average. These positive conditions would
lead to buying support. The ADX line, +DI line and –DI are moving
Dollar Index 79.79 79.77 0.03%
sideways, indicating a range bound trend. It faces resistance at
Source – www.cmegroup.com 5300, 5401 and 5476, while the supports are placed at 5157, 5126
and 5085.
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:
Government eases penalty for levy sugar conversion
In a big relief to the sugar industry, the Centre, for the first time, has relaxed its penal norm of automatically converting
unsold sugar into levy sugar in the given period of release from December to March. This will ease the pressure on
mills to sell their sugar quota within the given timeframe, checking the crash in sugar prices. "It's good for the industry.
There will be no distress sale to exhaust the quota even at lower prices to escape the penalty. Mills will now be
allowed to sell the unsold sugar in the next release period as well," said Abinash Varma, director general, Indian Sugar
Mills Association (ISMA).
Gold importers put off purchases, try to clear old stock
Gold importers in the country, the world's biggest buyer of the yellow metal, tried to clear out old stocks before placing
new orders despite lower prices on Monday. Traders rushed in to buy in the first two weeks of January after the
finance minister on Jan. 2 hinted at a tax rise. Buying has since been lacklustre. On Jan. 21, the government hiked
import duty on the yellow metal to 6 percent from the earlier 4 per cent.
Menthol prices rise on high demand
Menthol prices rose by Rs 5 per kg in the national capital today on increased demand from pharmaceutical units, amid
paucity of stocks. Menthol bold crystal, menthol flake and mentha oil prices rose by Rs 5 each to conclude at Rs
1,580, Rs 1,515 and Rs 1,475 per kg, respectively.
Source: ET
Economic Calendar:
Countries / Tuesday Wednesday Thursday
Regions 29/13 30/13 31/13
Infrastructure Output (YoY)
India RBI policy meet
(Dec)
Federal Fiscal Deficit, INR
(Dec)
Consumer
US Fed Interest Rate Decision Continuing Jobless Claims
Confidence (Jan)
S&P/Case-Shiller Home Price Gross Domestic Product Personal Income (MoM)
Indices (YoY) (Nov) Annualized (Q4) (Dec)
Core Personal Consumption
Expenditures (QoQ) (Q4)
Japan Nomura/ JMMA
Japan Retail Trade (YoY) UK Nationwide Housing
Global Manufacturing Purchasing
(Dec) Prices n.s.a (YoY) (Jan)
Manager Index (Jan)
UK Net Lending to Euro Consumer Price Index
Individuals (MoM) (Dec) (YoY) (Jan)
Mortgage Approvals (Dec)
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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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