Daily Commodity Report by www.epicresearch.co -- 01st March 2013

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indore, India (prHWY.com) March 1, 2013 - HEADLINE

Gold down 1 pct on day, posts 5th straight monthly drop.
Gold fell more than 1 percent on, as gains in U.S. equities and economic optimism sapped safe-haven demand for the precious metal, which ended February with its fifth straight monthly drop, the longest string of monthly declines since 1996. Bullion fell sharply for a second day, after U.S. data showed the economy grew slightly in the fourth quarter while new claims for unemployment dropped last week. Signs of an improving U.S. economy have sent the Dow Jones industrials and the S&P 500 stock index within striking distanceof record highs.
Base metals fall on the LME.
Base metals are lower at the close of London Metal Exchange (LME) trading session, weighed by a firm US dollar. At the PM kerb close on, LME three-month copper was down 0.7 per cent at $US7,815 a metric ton. The euro was trading at $US1.30775 versus the US dollar, down 0.6 per cent on the day. Since base metals are priced in US dollars, they become more expensive for other currency holders when the greenback gains.
TRADING TIP:
Sell Zinc Feb
* Below 110.80
* TGTS-110/109
* SL-111.50

Buy Silver Mar
* Below 53250
* TGTS 53000/52800
* SL- 53400



ANALYSIS
DAILY MCX GOLD CHART
OPEN: 29703
HIGH: 29934
LOW: 29513
CLOSE: 29570
* GOLD LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE

DAILY MCX SILVER CHART
OPEN: 53800
HIGH: 54199
LOW: 53145
CLOSE: 53267


* SILVER LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE

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