COMMODITIES EVENING NOTE – Detailed Report

COMMODITIES EVENING NOTE

Commodity Overview

January 7, 2013

MCX Gold prices traded higher today tracking gains on the COMEX. The prices were also supported by a weak rupee

which depreciated by 0.35 percent against the dollar as of this writing. Prices have recovered mainly due to short

covering after steep fall last week.

MCX crude oil traded slightly down today after registering decent gains last week. NYMEX benchmark contract was

trading lower mainly due a strong dollar against the euro which makes dollar denominated commodities expensive

for holders of other currencies.

Base metals continued to move down after having fallen significantly last week following minutes of US Fed's Open

Market Committee. Lack of stimulus measures may dampen recovsery in the US, the world's largest consumer of

commodities, and weaken demand.

Economic Calendar:

Country

Time

Event

Period

Unit

Survey

Actual

Prior

LME Inventory:

Commodity

Change

EuroZone

Source :Reuters

15:00

15:30

Sentix index

Jan

-15.0

0.0

-7.0

16.8

0.1

Copper

Zinc

Lead

Nickel

Aluminum

-825

-2750

-2950

576

-3725

Producer prices mm Nov

Evening Outlook:

Bullion prices look weak today and might fall after retracing in the past couple of sessions. Base metals are also looking weak

but one should be cautious as the prices are trading near the support levels.

Commodity Research, Motilal Oswal Commodities Broker Pvt. Ltd.

Email:

commodityresearch@motilaloswal.com

COMMODITIES EVENING NOTE

MCX Silver

MCX Silver prices are trading near the trend line resistance

and we expect the prices to trade lower in the evening session

until 58500 holds on the upside.20DSMA is trading below the

40DSMA indicating a short term bearish setup.RSI is below the

50 level line confirming the bearish view. Prices might once

again fall to the support levels of 57500. Sell on rise should be

the strategy till 58500 holds on the upside.

Support:

58000-57500

Resistance:

58500-59000

Trend:

Down

January 7, 2013

MCX Zinc

MCX Zinc prices got a hammering last week after touching

multi month highs. All the gains which were registered last

week have been taken off in the past couple of sessions. As

seen from the charts prices are trading near the support levels

of 111 and might bounce back till 112-113 levels. If the prices

trade below the support of 111 then we might see prices

moving lower till the next support of 108.85.

Support:

110.80-108.85

Resistance:

112-113.50

Trend:

Sideways Down

Commodity Research, Motilal Oswal Commodities Broker Pvt. Ltd.

Email:

commodityresearch@motilaloswal.com

COMMODITIES EVENING NOTE

Evening Swing levels

January 7, 2013

Commodity

Gold

Gold M

Gold $

Silver

Silver $

Silver M

Crude oil

Crude oil $

Natural gas

Natural gas $

Copper

Copper $

Zinc

Lead

Nickel

Aluminum

Exchange Expiry

MCX

COMEX

MCX

COMEX

MCX

NYMEX

MCX

NYMEX

MCX

COMEX

MCX

Feb

Mar

Feb

Jan

Feb

Jan

Feb

Mar

Jan

30979

30986

1653.3

58135

30.08

58160

5123

92.58

184.50

3.32

448.90

3.66

111.10

127.40

957.70

111.85

Trend**

PRECIOUS METALS

30779

30200

1640.67

57475

29.57

57544

30838

30377

1646.83

57702

29.82

57783

5100

92.22

179.10

3.30

445.77

3.63

109.80

125.93

949.90

110.62

30908

30682

1650.07

57919

29.95

57972

5111

92.40

181.80

3.31

447.33

3.65

110.45

126.67

953.80

111.23

Pivot

30967

30859

1656.23

58146

30.20

58211

5119

92.74

183.20

3.32

449.87

3.67

111.45

127.93

960.00

112.32

31037

31164

1659.47

58363

30.33

58400

5130

92.92

185.90

3.33

451.43

3.68

112.10

128.67

963.90

112.93

31096

31341

1665.63

58590

30.58

58639

5138

93.26

187.30

3.34

453.97

3.70

113.10

129.93

970.10

114.02

31166

31646

1668.87

58807

30.71

58828

5149

93.44

190.00

3.35

455.53

3.72

113.75

130.67

974.00

114.63

ENERGIES

5092

91.88

177.70

3.29

443.23

3.61

108.80

124.67

943.70

109.53

BASE METALS

Data’s are as per 3pm close

Data sources can & do produce bad ticks. Verify before use.

* * Trend is just a market indicator as per the previous close and is not an indication to “buy” or” sell”.

Disclaimer

Source: Reuters

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Commodity Research, Motilal Oswal Commodities Broker Pvt. Ltd.

Email:

commodityresearch@motilaloswal.com