1. Daily Commodity Report
17th October 2012
MCX GOLD (5 DECEMBER 12) –
Gold Silver Crude
(5 Dec-12) (5 Dec-12) (19 Oct-12) Gold opened lower at 30962 and moved further lower to touch an
Open 30,962 59,919 4,848 intra-day low of 30862. However, it managed to bounce back and
moved higher to touch an intra-day high of 31060. It ended the day
High 31,060 60,218 4,884
with marginal gains to close at 31040.
Low 30,862 59,761 4,837
The RSI and the Stochastic are placed below their respective
Close 31,040 60,031 4,859 averages, which would lead to selling pressure. The ADX line and
Prev. Close 30,977 59,959 4,832 +DI line and the -DI line all are moving higher but –DI line is on a
verge of breakout above the 30 level. MCX Gold faces resistance
% Change 0.20% 0.12% 0.56%
at 31348, 31467, 31937, 32100, 32393 and 32421 while the
Source – MCX support levels are placed at 30837, 30428, 30340, 30179, 29668
and 28859.
Volume (In 000's)
Positional Call – Sell MCX GOLD (5 DECEMBER 12) around
16/10/2012 15/10/2012 % Chg.
31180, Stop Loss 31225 Target of 30428
Gold (gms) 27,685.0 37,359.0 -25.89%
MCX SILVER (5 DECEMBER 12) –
Silver (kgs) 1,429.0 1,948.0 -26.65%
Crude (bbl) 19,309.8 24,539.9 -21.31% Silver opened higher at 60218 but moved further lower to touch an
intra-day low of 59761. However, it managed to bounce back and
Source – MCX
moved higher to touch an intra-day high of 60218. It ended the day
with marginal gains to close at 60031
Turnover (In Lacs)
16/10/2012 15/10/2012 % Chg.
The RSI and the Stochastic are below their respective averages,
which would lead to selling pressure. However, the Stochastic and
Gold 857,456.1 1,161,153.0 -26.15% RSI both are placed in the over sold zone, which would lead to
regular bouts of short covering. The ADX line is moving higher but
Silver 857,778.0 1,176,707.5 -27.10%
the +DI line and the -DI line are moving lower indicating a range
Crude 938,477.0 1,185,739.9 -20.85% bound trend. MCX Silver faces resistance at 60750, 61398, 61912,
62273, and 64600 while the supports are placed at 59512, 56953
Source – MCX
and 53621 levels.
Global Market (Nymex - $)
MCX CRUDE (19 OCTOBER 12) –
17/10/2012 16/10/2012 % Chg.
Crude opened higher at 4848 and moved further higher to touch an
Gold (oz) 1,752.50 1,746.30 0.36% intra-day high of 4884. However, it failed to sustain higher and
Silver (oz) 33.08 32.96 0.35%
moved lower to touch an intra-day low of 4837. It ended the day
with moderate gains to close at 4859.
WTI Crude 92.17 92.09 0.09%
The Stochastic is placed below its average, which would lead to
Brent Crude 113.93 114.00 -0.06%
selling pressure at regular intervals. However, the RSI is placed
Dollar Index 79.18 79.23 -0.06% above its average, which would lead to buying support at lower
Source – www.cmegroup.com levels. Though the ADX line and –DI line are placed above the 30
level these have started to move lower indicating short covering is
happening at regular intervals. It faces resistance at 4892, 4950
and 5050 while the supports are placed at 4760, 4692, 4603, 4578
and 4467
NOTE – Stop Losses should be considered strictly on Closing
Basis
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2. Commodity News:
Brent Oil rises on concern supplies may be disrupted
Brent oil traded at the highest premium in a year to crude in New York amid concern that supplies from the North Sea
and the Middle East will be disrupted and speculation of US stockpiles increasing. Crude for November delivery rose
16 cents to $92.01 a barrel on the NYMEX at 3:10 pm Singapore time. The contract on Monday closed at $91.85, the
lowest settlement since October 10.
Turmeric hits contract low; jeera falls on profit-taking
Turmeric futures struck a fresh contract low on Tuesday, weighed by higher stocks and sluggish demand from
overseas and local traders. At 0944 GMT, the November turmeric contract on the National Commodity and Derivatives
Exchange (NCDEX) was down 3.86 percent at Rs 5,282 per 100 kg after hitting a contract low of Rs 5,276 earlier in
the day. "Turmeric prices are expected to fall by another 150-200 rupees. The crop condition is very good because of
favourable weather," said Punamchand Gupta, a trader from Nizamabad, a key market in Andhra Pradesh.
Mustardseed futures rise as demand picks up
Mustardseed price rose by Rs 33 to Rs 4,281 per quintal in futures trade today as traders enlarged their positions,
tracking a firm trend at spot market on pickup in demand. At the National Commodity and Derivatives Exchange,
mustardseed for delivery in November rose by Rs 33, or 0.78 per cent, to Rs 4,281 per quintal, with an open interest of
70,230 lots. Mustard for delivery in October gained Rs 25, or 0.60 per cent, to Rs 4,205 per quintal in 4,940 lots.
Source:ET
Economic Calendar:
Countries / Wednesday Thursday Friday
Regions 17/Oct 18/Oct 19/Oct
India M3 Money Supply (Oct 14) Bank Loan Growth (Oct 14)
FX Reserves, USD (Oct 14)
MBA Mortgage Applications Existing Home Sales Change
US Initial Jobless Claims (Oct 13)
(Oct 12) (Sep)
EIA Crude Oil Stocks change
(Oct 12)
European Construction China Gross Domestic China Foreign Direct
Global
Output s.a (MoM) (Aug) Product (YoY) (Q3) Investment (YTD)(YoY) (Sep)
UK Retail Sales (YoY) (Sep) European Council meeting
EU Extraordinary Economic UK Public Sector Net
Summit Borrowing (Sep)
Keynote Capitals Ltd.
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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