The daily commodity report provides an overview of price movements and technical indicators for gold, silver, and crude futures contracts traded on the MCX exchange on August 30th, 2012.
Gold opened higher but failed to sustain gains and moved lower to touch an intra-day low, ending the day with modest losses. Technical indicators like the RSI and Stochastic are placed below their averages, signaling potential further downside.
Silver also opened lower but managed to move higher intra-day before failing to sustain gains and moving lower to close with marginal losses. The RSI and Stochastic remain below their averages in overbought territory, indicating selling pressure at higher levels.
Crude opened lower and touched an
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Keynote commodity daily report for 300812
1. Daily Com
D mmodity Report
30th A
August 2012
MCX GOLD (5 O
X OCTOBER 12) –
Go
old Silver Cru
ude
(5 O
Oct-12) (5 Se
ept-12) (19 Se
ep-12) Gold opened high at 30952a moved fu
d her and urther higher to touch an
intra
a-day high of 31007. How
f wever, it failed to sustain higher and
Open
n 30,952 57,525 5,358
mov lower to t
ved a-day low of 30734. It end the day
touch an intra ded
High
h 31,007 57,861 5,366 with modest losse to close at 30847.
es t
Low 30,734 57,160 5,293 The RSI has slipp below its average. Mo
ped oreover, the S
Stochastic is
Close 30,847 57,559 5,314
alrea
ady placed bbelow its ave erage. The R and Sto
RSI ochastic still
rema placed in the over bou
ain ught zone. Thhese negative conditions
e
Prev Close
v. 30,948 57,609 5,362 would lead to selling pressure and profit ta
e aking. The AD line and
DX
+DI line are movving lower, inndicating buyyers are bookking profits.
% Ch
hange -0.33% -0.09%
- -0.90%
MCX Gold faces resistance at 31070, 31
X s 1110, 31250 and 31500
Source – MCX
e aced at 30840, 30428, 303
while the support levels are pla
e t 340, 30179,
2966 and 28859
68 9
Vo
olume (In 000'
's) Positional Call – SELL MCX GOLD (5 O
X OCTOBER 12) around
3085 Stop Los 31100 Target of 30300
50, ss
29/0
08/2012 28/08/2012 % Chg.
MCX SILVER (5 SEPT 12) –
X
Gold (gms) 33
3,613.0 35
5,543.0 -5.43%
Silve opened low at 57525 but managed to move high to touch
er wer d her
Silver (kgs) 1,647.8
1 1,466.4
1 12.36%
an inntra-day high of 57861. Hoowever, it failed to sustain higher and
Crude (bbl) 25
5,596.6 27
7,450.9 -6.75% mov lower to t
ved a-day low of 57160. It end the day
touch an intra ded
with marginal loss to close a 57559.
ses at
Source – MCX
e
The Stochastic is placed below its average. More so the RSI is also
s w e
Turnover (In Lac
cs) on vverge of slipping below its average. Moreover, th RSI and
he
Stocchastic still r
remain place in the ove bought zo
ed er one. These
29/0
08/2012 28/08/2012 % Chg. negaative conditions would lead to selling pressure and p
d profit taking
at hi
igher levels. T
Though the A
ADX line is still moving high the +DI
her,
Gold 1,038
8,457.9 1,099
9,838.2 -5.58% line continues to move lower, indicating buuyers are booking profits.
MCX Silver faces resistance a 58050 584 and 5922 while the
X s at 445 21
Silver
r 947
7,901.9 844
4,045.7 12.30%
suppports are placed at 57180 57000, 56
0, 6157, 55551, 54570 and
Crude
e 1,364
4,077.9 1,468
8,203.2 -7.09% 5367 levels.
75
Source – MCX
e MCX CRUDE (19 September 12) –
X 9
Crud opened low at 5358 b managed to move high to touch
de wer but her
Global Market (Nyme - $)
ex an in
ntra-day high of 5366. Ho
h owever, it faile to sustain higher and
ed
movved lower to ttouch an intr
ra-day low of 5293. It endded the day
30/0
08/2012 29/08/2012 % Chg.
sses to close at 5314.
with moderate los
Gold (oz) 1,
,655.30 1,659.50 -0.25%
The Stochastic h again slip
has pped below it average. M
ts More so the
Silver (oz)
r 30.68 30.84 -0.51% RSI is placed be elow its averaage. These c conditions woould lead to
WTI CCrude sellin pressure. However, the Stochastic is nearing the over sold
ng e
95.03 95.49 -0.48%
(bbl) zone which woul lead to buy
e, ld ying support a lower levels. The ADX
at
Brent Crude
t line, +DI line and –DI line are moving sidew
d ways, indicat
ting a range
112.54 112.79 -0.22%
(bbl)
boun trend. It f
nd faces resistance at 5366, 5408, 5516 and 5600
6
Dollar Index 81.51 81.47 0.14%
while the support are placed at 5238, 5275 5180, 5126 and 5093.
e ts 5, 6
Source – www.cmeg
e group.com
Positional Call – BOOK PR
ROFITS MCX CRUDE (19 Sept 12))
X 9
arou 5320, giv @ 5361 o August 24 29
und ven on 4-
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2. Com
mmodity New
ws:
• Gold importe stay awa seeking p
G ers ay price directio Indian go importers took to the s
on: old sidelines on W
Wednesday,
seeking price direction dur
s ring the ongo
oing wedding and festive sseason as prices stayed s
steady near it peak. The
ts
most-active gold for Octob delivery o the Multi C
m ber on Commodity Exchange (MC was 0.01 percent lower at 30,945
CX)
rupees per 10 grams. The contract touc
r 0 ched a record high of 31,11 rupees on Monday. (ET
10 T)
• Wheat future plunge 3 pc on profit-
W es -booking: Affter persistent rise, wheat prices fell by almost 3 pe cent to Rs
t y er
1,532 per qu
1 uintal in futur
res trade today as specu ulators preferrred to book at prevailing higher leve
g els. Besides,
in
ncreased sup
pplies in the mandies (spot markets) als weighed on the grain prices at futures trade. (ET)
m t so n s
• Oil
O prices fa amid calls for increas
all s sed output: Crude prices fell Wednesday after fin
s nance ministe from the
ers
world's leading industrialize economies called on oil producers t increase ou
w ed s to utput and said they stood ready to ask
d
the Internation Energy Agency to rele
nal A Benchmark oil for October delivery fell 72 cents by
ease strategic reserves. B
c r
la afternoon Bangkok tim to $95.61 per barrel in electronic tr
ate n me n rading on the New York M Mercantile Excchange. The
contract rose 86 cents to finish at $96.33 per barrel o the Nymex on Tuesday. (ET)
c on x .
• Chilli futures fall 1.54 pc on sluggish demand: C
C s c h Chilli prices de
eclined by Rs 80 to Rs 5,098 per quint in futures
s tal
trade today a speculators reduced po
as s king a weak trend at spot market on sluggish dem
ositions, track mand. At the
National Com
N mmodity and Derivatives Ex
D xchange, chilli for delivery in Septembe declined by Rs 80, or 1. per cent,
er y .54
to Rs 509 per quintal, with an open inter
o rest of 10,700 lots.
0
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3. Econ
nomic Cale
endar:
Countrie /
es Thursday Friday Mondayy
Regio
ons 30/Aug 31
1/Aug 3/Sep
Forex Reserves Data;
India
Federal F
Fiscal Deficit
t
GDP Qua aterly (YoY) ;
Infrastructure Output (YYoY)
Factory O
Orders (MoM));
US Init Jobless C
tial Claims Chicago Purchasing
o
Managger's Index
Pers
sonal Consum mption
Expennditures - Price Index Fed's Bern
nanke Speec
ch
(MoM)
EIA Natural Gas S
N Storage Reuters Michigan
s/
change Consumer S
Sentiment Index
Japan's Unemplo
oyment Eurozone CConsumer Price UK's Halifax Hou Prices
s use
Global
Rate Inde (YoY)
ex (3m/YoYY)
Japan Vehicle Productioon
Eur
rozone's Economic Germany's M
G Markit
(YoY); Consstruction Orders
Sentiment Indicator Manufacturin PMI
M ng
(YoY)
Germa
any's Unempployment Japan Housing Starts (Yo oY);
Change Annualized Housing Sta arts
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