1. Daily Commodity Report
3rd December 2012
Gold Silver Crude MCX GOLD (5 DECEMBER 12) –
03-Dec-12
Expiry 5-Dec-12 5-Dec-12 18-Dec-12 Gold opened higher at 31125 but failed to sustain higher and
moved lower. It touched an intra-day low of 31047. However, it
Open 31,125 61,225 4,847
managed to bounce back in the later half of the session and moved
High 31,139 61,385 4,859 higher. It touched an intra-day high of 31139. It ended the day with
Low 31,047 61,176 4,845 marginal gains to close at 31101.
Close 31,101 61,301 4,847 The RSI and the Stochastic are placed below their respective
Prev. Close 31,076 61,185 4,838 averages, which would lead to further selling pressure. However,
the Stochastic is place in the over sold zone, which would lead to
% Change 0.08% 0.19% 0.19%
short covering at lower levels. The -DI line has moved above the
Source – MCX 30 level and is placed at 36.27, indicating sellers are gaining
strength. MCX Gold faces resistance at 31348, 31467,3 1737,
Volume (In 000's) 32270 and 32421 while the support levels are placed at 31076,
30837, 30424 and 30366.
1-Dec-12 30-Nov-12 % Chg.
Gold (gms) 1,995.0 21,599.0 -90.76% MCX SILVER (5 DECEMBER 12) –
Silver (kgs) 53.6 1,013.5 -94.71% Gold opened higher at 61225 but failed to sustain higher and
Crude (bbl) 500.0 19,444.4 -97.43% moved lower. It touched an intra-day low of 61176. However, it
managed to bounce back in the later half of the session and moved
Source – MCX higher. It touched an intra-day high of 61385. It ended the day with
marginal gains to close at 61301.
Turnover (In Lacs)
1-Dec-12 30-Nov-12 % Chg.
The RSI and the Stochastic are placed below their respective
averages, which would lead to further selling pressure. The ADX
Gold 62,029.7 677,217.9 -90.84% line, +DI line and –DI line are moving sideways indicating a range
bound trend. MCX Silver faces resistance at 61398 61912, 62115,
Silver 32,869.7 631,570.9 -94.80%
64142 and 65000 while the supports are placed at 60968, 60880
Crude 24,240.7 937,493.2 -97.41% 60335 and 59252 levels.
Source – MCX
MCX CRUDE (18 DECEMBER 12) –
Global Market (Nymex - $) Crude opened higher at 4847 and moved further higher to touch an
30/11/2012 03/12/2012 % Chg. intra-day high of 4859. However, it failed to sustain higher and
moved lower to touch an intra-day low of 4845. It ended the day
Gold (oz) 1,720.50 1,712.70 0.46% with modest gains to close at 4847.
Silver (oz) 33.72 33.28 1.32%
The RSI is still placed below its average, which would lead to
WTI Crude (bbl) 89.12 88.91 0.24% selling pressure. However, the Stochastic has moved above its
Brent Crude (bbl) 111.56 111.27 0.26% average and is also placed around the over sold zone, which would
lead to intermediate bouts of short covering and buying support at
Dollar Index 79.99 80.24 -0.31%
lower levels. The ADX line, – DI line and +DI line are moving
Source – www.cmegroup.com sideways, indicating a range bound trend. It faces resistance at
4892, 4950, 5000 and 5054 while the supports are placed at 4760,
4692, 4603 and 4578.
NOTE – Stop Losses should be considered strictly on Closing
Basis
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2. Commodity News:
Tight global wheat supply to help government to liquidate excess reserve
Tight global supply and rising wheat prices at global markets are boding well for the government's plan to liquidate
excess wheat lying in its godowns. Wheat prices, which rose from $296 (Rs 16,576) per tonne in August to $329 (Rs
18,424) by November-end, have helped the government save substantially on subsidies it has to shell for the export of
wheat from Food Corporation of India (FCI) stock. The government has till now contracted for the shipment of 1.83
million tonne of wheat out of 2 million tonne approved for export from central stocks in July 2012.
Gold prices dip below Rs 32,000 on sluggish demand, global cues
Gold prices dipped below Rs 32,000 per 10 gm level in the national capital today on sustained selling by stockists on
sluggish demand amid a weakening global trend. After losing Rs 875 in the last two trading sessions, the Gold fell
further by Rs 270 to Rs 31,830 per 10 gm on sustained selling against restricted buying. A weakening global trend also
influenced the market sentiment.
Mentha oil futures decline 0.79 pc on profit-booking
Mentha oil prices declined by Rs 10.80 to Rs 1,359.30 per kg in futures trade today as speculators booked profits at
prevailing higher levels amid fall in demand in the spot market. Adequate stocks position following increased arrivals
from Chandousi in Uttar Pradesh also put pressure on mentha oil futures. At the Multi Commodity Exchange, mentha
oil for delivery in November declined by Rs 10.80, or 0.79 per cent, to Rs 1,359.30 per kg in business turnover of 129
lots.
Source: ET
Economic Calendar:
Countries / Monday Tuesday Wednesday
Regions 03/Dec 04/Dec 05/Dec
India
Markit Manufacturing PMI ISM Non-Manufacturing PMI
US Redbook index (MoM)
(Nov) (Nov)
Construction Spending
Factory Orders (MoM) (Oct)
(MoM) (Oct)
Eruo Markit PMI Composite
Global UK 10-y Bond Auction UK EcoFin Meeting
(Nov)
China Real Retail Sales Japan Labor Cash Earnings Euro Retail Sales (MoM)
(YoY) (Oct) (YoY) (Oct) (Oct)
Euro Markit Manufacturing
PMI (Nov)
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