The daily commodity report summarizes movements in gold, silver, and crude futures contracts. Gold futures closed flat, silver futures closed lower, and crude futures closed lower with modest losses. Technical indicators show buying support for gold but profit taking may lead to intermittent declines in silver and crude. Key resistance and support levels are provided.

1. Daily Commodity Report
1st February 2012
MCX GOLD (FEB 12) - Gold opened higher at 28100. It moved
Gold Silver Crude
(4 Feb-12) (5 Mar-12) (20 Feb-12)
higher to touch an intra-day high of 28199. However, it failed to
sustain higher and moved lower to touch an intra-day low of 28044
Open 28,100 57,055 4,948 on back of selling pressure. It ended the day flat to close at 28078.
High 28,199 57,490 5,025
The RSI and the Stochastic are placed above their respective
Low 28,044 56,112 4,916
averages, which would result in buying support. However, the
Close 28,078 56,422 4,927 Stochastic remains placed in the over bought zone, which would
Prev. Close 28,059 56,992 4,945
lead to intermediate bouts of profit taking. The ADX line, -DI line and
+DI line are moving sideways, indicating a range bound trend. MCX
% Change 0.07% -1.00% -0.36% GOLD faces resistance at 28152, 28960 and 29212, while the
Source – MCX supports are placed at 27954, 26347, 25500 and 24992 levels.
Volume (In 000's) MCX SILVER (MAR 12) - Silver opened lower at 56422. It moved
higher to touch an intra-day high of 57490. However, it failed to
31/1/2012 30/1/2012 % Chg. sustain higher and moved lower to touch an intra-day low of 56112
Gold (gms) 20,345.0 28,403.0 -28.37% on back of selling pressure. It ended the day with moderate losses
to close at 56422.
Silver (kgs) 2,237.7 1,797.5 24.49%
Crude (bbl) 19,040.5 12,770.7 49.10% The RSI and the Stochastic have slipped below their respective
Source – MCX averages. Moreover, both are also placed around the over bought
zone, which would lead to intermediate bouts of profit taking and
selling pressure. The ADX line, -DI line are moving sideways. The
Turnover (In Lacs)
+DI line is placed at 36.60 level and is moving downwards,
31/1/2012 30/1/2012 % Chg. indicating buyers are booking profits at higher levels. MCX Silver
faces resistance at 57400, 57834, 58480 and 61708, while the
Gold 572,381.7 795,001.6 -28.00% supports are placed at 54671, 53170 and 51366 levels.
Silver 1,275,017.3 1,020,454.8 24.95%
MCX CRUDE (FEB 12) - Crude opened higher at 4948 level. It
Crude 946,524.5 631,229.8 49.95%
moved higher to touch an intra-day high of 5025. However, it failed
Source – MCX to sustain higher and moved lower to touch an intra-day low of 4916
on back of selling pressure. It ended the day with modest losses to
Global Market (Nymex - $) close the day at 4927.
1/2/2012 31/1/2012 % Chg.
The RSI and the Stochastic are placed below their respective
Gold (oz) 1,738.30 1,737.80 0.03% averages. However, both are also in the over sold zone, which
would lead to intermediate bouts of short covering. The -DI line and
Silver (oz) 33.21 33.23 -0.08%
+DI line are moving sideways. It faces resistance at 4950, 5003,
Crude (bbl) 98.57 98.48 0.09% 5065, 5115, 5174 and 5200, while the supports are placed at 4903,
Dollar Index 79.34 79.28 0.07% 4877 and 4493 levels.
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE FEB 12 4927 4956 4996 5065 5174 4887 4847 4738
GOLD FEB 12 28078 28107 28170 28262 28417 28015 27952 27797
SILVER MAR 12 56422 56675 57237 58053 59431 55859 55297 53919
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2. US Economic Calendar:
Wednesday Thursday Friday Monday Tuesday
Feb. 01 Feb. 02 Feb. 03 Feb. 06 Feb. 07
ISM Manufacturing Jobless Claims Data Employment Situation Treasury STRIPS ICSC-Goldman Store
Index Data Sales
Motor Vehicle Sales Bloomberg Consumer Factory Orders 4-Week Bill Consumer Credit
Comfort Index Announcement
ADP Employment Productivity and Costs ISM Non-Mfg Index 6-Month Bill Auction 3-Yr Note Auction
Report Data
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