COMMODITIES EVENING NOTE
Commodity Overview
December 31, 2012
Bullion futures on COMEX as well as MCX were trading higher today on short covering and are stuck in a narrow
range as investors are awaiting developments in the US budget deficit talks. The February gold contract on COMEX
was at $1,667.40 an ounce, up 0.56% from the previous close
NYMEX Crude oil futures traded lower today as traders are cautious due to the looming fiscal talks. Although the
prices got some support from the Chinese HSBC manufacturing numbers the firm dollar against the euro is weighing
on prices.
LME three-month copper was firm in the morning trade today, as the upbeat Chinese economic data boosted
sentiment. The HSBC manufacturing purchasing managers index in China rose to a 19-month high of 51.5 in
December.
Economic Calendar:
Country
Time
Event
Period
Unit
Survey
Actual
Prior
LME Inventory:
Commodity
Change
-
-
-
-
-
Source :Reuters
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Copper
Zinc
Lead
Nickel
Aluminum
2000
-2750
-3075
834
-6625
Evening Outlook:
Trading activity is expected to be thin as many markets are shut for New Year's Eve. Negotiations of the US fiscal cliff talks will
remain to be the main focus.
Commodity Research, Motilal Oswal Commodities Broker Pvt. Ltd.
Email:
commodityresearch@motilaloswal.com

COMMODITIES EVENING NOTE
December 31, 2012
MCX Silver
MCX Silver Mar future contract is trading in a band of 58500-
57500 from past few sessions. For the day the bias is slightly
upwards and we expect prices might breach 58200 levels. RSI
is consolidating near the 20 level line and might move up
towards the 50 level line indicating an up move in prices.
Although the overall trend is weak as indicated by a lower 20
DSMA compared to 40 DSMA, prices can give a bounce back
from intraday perspective. Until 57500 holds one can buy
silver for a profit objective of 58200.
Support:
57500-57280
Resistance:
58200-58500
Trend:
Sideways to up
MCX Copper
MCX Copper Feb contract on MCX has failed in breaking 442
and looks like might move lower once again.RSI is
consolidating near the middle line and might dip in coming
sessions towards the lower support line. First resistance is at
442 and next resistance is at 445 above which the up move in
prices might continue. Until prices sustains below 442 sell
should be the strategy for a downside target of 437.50.
Support:
440-437.50
Resistance:
442-445
Trend:
Sideways to down
Commodity Research, Motilal Oswal Commodities Broker Pvt. Ltd.
Email:
commodityresearch@motilaloswal.com

COMMODITIES EVENING NOTE
December 31, 2012
Evening Swing levels
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
MCX
COMEX
MCX
COMEX
MCX
MCX
NYMEX
MCX
NYMEX
MCX
COMEX
MCX
MCX
MCX
MCX
Feb
Jan
Jan
Mar
Jan
Feb
Jan
Feb
Jan
Feb
Feb
Jan
Dec
Dec
Dec
Dec
Close
30756
30478
1666.9
57821
29.945
57861
4980
90.73
190.30
3.46
440.50
3.61
111.90
126.55
939.30
111.65
Trend**
S3
S2
PRECIOUS METALS
30595
30260
1647.73
57401
29.69
57446
30634
30311
1651.57
57513
29.81
57556
4961
90.42
188.83
3.44
437.33
3.56
111.37
126.35
935.70
111.35
S1
30695
30394
1659.23
57667
29.88
57708
4971
90.57
189.57
3.45
438.92
3.58
111.63
126.45
937.50
111.50
Pivot
30734
30445
1663.07
57779
30.00
57818
4985
90.77
190.93
3.46
440.53
3.60
111.82
126.65
940.90
111.75
R1
30795
30528
1670.73
57933
30.06
57970
4995
90.92
191.67
3.48
442.12
3.62
112.08
126.75
942.70
111.90
R2
30834
30579
1674.57
58045
30.18
58080
5009
91.12
193.03
3.49
443.73
3.64
112.27
126.95
946.10
112.15
R3
30895
30662
1682.23
58199
30.25
58232
5019
91.27
193.77
3.50
445.32
3.66
112.53
127.05
947.90
112.30
ENERGIES
4947
90.22
187.47
3.42
435.72
3.54
111.18
126.15
932.30
111.10
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
This report is for the personal information of the authorized recipient and does not construe to be any investment, legal or taxation advice to you. Motilal Oswal Commodities
Broker Private Limited (hereinafter referred as MOCBPL) is not soliciting any action based upon it. This report is not for public distribution and has been furnished to you solely for
your information and should not be reproduced or redistributed to any other person in any form.
The report is based upon information from publicly available data or other sources believed to be reliable, but we do not represent that it is accurate or complete, and it should not
be relied upon such. MOCBPL or any of its affiliates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error
in the information contained in this report.
MOCBPL or any of its affiliates or employees do not provide, at any time, any express or implied warranty of any kind, regarding any matter pertaining to this report, including
without limitation the implied warranties of merchantability, fitness for a particular purpose, and non-infringement. The recipients of this report should rely on their own
investigations. MOCBPL and/or its Group Companies, their Directors, affiliates and/or employees may have interests/ positions, financial or otherwise in the
Securities/Commodities and other investment products mentioned in this report.
This information is subject to change without any prior notice. MOCBPL reserves the right to make modifications and alternations to this statement as may be required from time to
time.
Motilal Oswal Securities Ltd., Palm Spring Centre, 2nd floor, Palm Court Complex, New Link Road, Malad (W), Mumbai - 64.
Commodity Research, Motilal Oswal Commodities Broker Pvt. Ltd.
Email:
commodityresearch@motilaloswal.com