The daily commodity report summarizes prices and trends for gold, silver, and crude on May 8th, 2012. Gold prices closed lower, while silver closed with moderate gains and crude closed with high losses. Technical indicators show selling pressure for gold and crude but buying support for silver. All three face resistance at specific price levels but also have support at other price levels.

1. Daily Commodity Report
8th May 2012
MCX GOLD (5 JUNE 12) - Gold opened lower at 29167.
Gold Silver Crude
(5 Jun-12) (5 Jul-12) (21 May-12) Incidentally, this was the highest traded price for the day. It moved
lower to touch an intra-day low of 28880. It ended the day with
Open 29,167 56,511 5,256 moderate losses to close at 28939.
High 29,167 56,511 5,256
The RSI has slipped below its average. Moreover, the Stochastic
Low 28,880 55,267 5,125
is already placed below its average These conditions would lead
Close 28,939 55,796 5,190 to selling pressure. The ADX line, +DI line and the -DI line are
Prev. Close 29,185 56,576 5,263
moving sideways indicating a range bound trend. MCX GOLD
faces resistance at 29212 and 29433, while the supports are
% Change -0.84% -1.38% -1.39% placed at 28960, 28084, 27557 and 26517 levels.
Source – MCX
MCX SILVER (5 JULY 12) - Silver opened higher at 56511.
Volume (In 000's) Incidentally, this was the highest traded price for the day.
However, it failed to sustain higher. It moved lower to touch an
7/5/2012 5/5/2012 % Chg. intra-day low of 55267. It ended the day with moderate gains to
Gold (gms) 35,713.0 911.0 3820.20%
close at 55796.
Silver (kgs) 1,916.6 28.6 6596.65% The RSI and the Stochastic have moved above their respective
Crude (bbl) 23,004.4 551.4 4072.00% averages. These conditions would lead to buying support. The
ADX line, –DI and +DI line are moving sideways, indicating a
Source – MCX
range bound trend. MCX Silver faces resistance at 56157, 57737,
61708 and 65159 while the supports are placed at 55551, 51029,
Turnover (In Lacs) 50252 and 48562 levels.
7/5/2012 5/5/2012 % Chg.
MCX CRUDE (19 May 12) - Crude opened lower at 5256 level.
Gold 1,035,127.2 26,594.6 3792.25% Incidentally, this was the highest traded price for the day. It moved
Silver 1,070,696.9 16,195.5 6511.08% lower to touch an intra-day low of 5125. It ended the day with high
losses to close at 5190.
Crude 1,190,650.1 29,030.8 4001.34%
Source – MCX The RSI and the Stochastic are placed below their respective
averages, which would lead to selling pressure. However, the
Global Market (Nymex - $) Stochastic has moved in the over sold zone, while the RSI is on
verge of moving in the over sold territory. These conditions would
8/5/2012 7/5/2012 % Chg.
lead to short covering at regular intervals. The ADX line and +DI
Gold (oz) 1,637.90 1,639.10 -0.07% line are moving sideways. The -DI line is placed at 43.94 level
indicating sellers are gaining strength. It faces resistance at 5264,
Silver (oz) 30.01 30.09 -0.29%
5392 and 5600, while the supports are placed at 5160, 5057 and
Crude (bbl) 97.84 97.94 -0.10% 4905 levels.
Dollar Index 79.71 79.60 0.13%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE MAY 12 5190 5190 5256 5321 5452 5125 5059 4928
GOLD JUN 12 28939 28995 29111 29282 29569 28824 28708 28421
SILVER JUL 12 55796 55858 56449 57102 58346 55205 54614 53370
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2. US Economic Calendar:
Tuesday Wednesday Thursday Friday Monday
May 08 May 09 May 10 May 11 May 14
NFIB Small Business EIA Petroleum Status Jobless Claims Producer Price Index 4-Week Bill
Optimism Index Report Announcement
ICSC-Goldman Store Wholesale Trade Data International Trade Consumer Sentiment 3-Month Bill Auction
Sales
3-Yr Note Auction EIA Petroleum Status Import and Export 6-Month Bill Auction
Report Prices
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