1. Daily Commodity Report
11th December 2012
Gold Silver Crude MCX GOLD (5 FEBRUARY 13) –
10-Dec-12
Expiry 5-Feb-13 5-Mar-13 18-Dec-12 Gold opened higher at 31348 but moved lower to touch an intra-
day low of 31331. However, it managed to bounce back from lower
Open 31,348 62,658 4,702
levels to touch an intra-day high of 31559. It ended the day with
High 31,559 63,265 4,739 moderate gains to close at 31493.
Low 31,331 62,658 4,692
The RSI has moved above its average. Moreover, the Stochastic is
Close 31,493 62,948 4,700 already placed above its average. These positive conditions would
Prev. Close 31,326 62,582 4,695 lead to buying support. Though the -DI line is placed above 34
level it has come off its recent highs, indicating sellers are covering
% Change 0.53% 0.58% 0.11%
shorts regularly. MCX Gold faces resistance at 31790, 32270 and
Source – MCX 32421 while the support levels are placed at 31290, 31076, 30916,
and 30837.
Volume (In 000's)
Positional Call – Buy MCX GOLD (5 DECEMBER 12) above
10-Dec-12 8-Dec-12 % Chg.
31493, Stop Loss 31350 Target of 31800
Gold (gms) 26,299.0 1,743.0 1408.84%
MCX SILVER (5 MARCH 13) –
Silver (kgs) 1,162.7 29.4 3850.66%
Crude (bbl) 17,953.1 522.7 3334.69% Silver opened higher at 62658. Incidentally, this was the lowest
price recorded for the day. It moved higher to touch an intra-day
Source – MCX
high of 63265. It ended the day with moderate gains to close at
62948.
Turnover (In Lacs)
10-Dec-12 8-Dec-12 % Chg. The RSI is still placed below its average, but is on the verge of
moving above it. The Stochastic is already placed above its
Gold 827,265.3 54,578.3 1415.74% average, which would lead to intermediate bouts of buying support.
Silver 732,612.9 18,412.1 3878.98%
The ADX line, the +DI line and the –DI line are moving sideways
indicating a range bound trend. MCX Silver faces resistance at
Crude 846,229.6 24,519.5 3351.25% 63271, 63734 and 64284, while the supports are placed at 60335,
Source – MCX 59252 and 57599 levels.
Global Market (Nymex - $) MCX CRUDE (18 DECEMBER 12) –
10/12/2012 11/12/2012 % Chg. Crude opened higher at 4702 and moved further higher to touch an
intra-day high of 4739. However, it failed to sustain higher and
Gold (oz) 1,711.20 1,714.40 -0.19% moved lower to touch an intra-day low of 4692. It ended the day
Silver (oz) 33.17 33.38 -0.63% with marginal gains to close at 4700.
WTI Crude (bbl) 85.55 85.56 -0.01%
The Stochastic has moved above its average and is also placed in
Brent Crude (bbl) 107.27 107.33 -0.06% the over sold zone, which would led to intermediate bouts of short
Dollar Index 80.34 80.33 0.01%
covering and buying support at lower levels. However, the RSI is
still placed below its average, which would lead to selling pressure.
Source – www.cmegroup.com
The ADX line, the +DI line and the –DI line are moving sideways
indicating a range bound trend. It faces resistance at 4760, 4892,
and 4950 while the supports are placed at 4692, 4603 and 4578.
NOTE – Stop Losses should be considered strictly on Closing
Basis
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2. Commodity News:
Sugarcane price rise may negate sugar mills' margins
The increase in the state administered price, or SAP, of sugarcane by the Uttar Pradesh government negates the
benefits of the recent increase in sugar prices to local sugar mills. As a result, companies, including Balrampur Chini
Mills, Bajaj Hindusthan and Dhampur Sugar will continue to see subdued earnings during the current sugar season.
The Uttar Pradesh government increased the sugarcane SAP by 17% to Rs 280 per quintal for the current season
(October 2012 - September 2013). In the past few months, sugar prices (ex-Kanpur) have rallied by over 14% in
anticipation of lower sugarcane production. In Uttar Pradesh, the government fixes price of sugarcane, while sugar
prices are market-determined.
Gold, silver maintain upward march
Gold prices climbed for the third consecutive session to revisit nearly a week high at the domestic bullion market today
on consistent stockists and traders demand and rising local buying interest amid wedding seasonal off-take. Silver
also surged on heavy speculative demand on the back of industrial buying. Standard Gold (99.5 purity) rose by Rs
200 per 10 gm to end at Rs 31,205 from last Saturday's closing level of Rs 31,005.
Palm oil gains on low stockpile speculation
Palm oil climbed on speculation that a decline in Malaysia's production will trim record stockpiles in the world's second-
largest producer. The contract for February delivery advanced 0.7% to close at 2,313 ringgit ($756) a tonne on the
Malaysia Derivatives Exchange.
Source: ET
Economic Calendar:
Countries / Tuesday Wednesday Thursday
Regions 11/Dec 12/Dec 13/Dec
Cumulative Industrial
India
Output (Oct)
Manufacturing Output (Oct)
M3 Money Supply (Dec 2)
Fed Interest Rate Decision Continuing and Initial
US Trade Balance
(Dec 12) Jobless Claims (Dec 8)
10-Year Note Auction FOMC Economic Projections Retail Sales (MoM) (Nov)
Monthly Budget Statement Producer Price Index (YoY)
FOMC Minutes
(Nov) (Nov)
Japan Consumer Confidence UK Claimant Count Change Euro ECB Monthly Report
Global
Index (Nov) (Nov) (Dec)
Euro Industrial Japan Tankan Large
UK 10-y Bond Auction
Production s.a. (MoM) (Nov) Manufacturing Outlook (Q4)
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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