Daily Commodity Report By www.epicresearch.co - 18 August 2012

HEADLINES: * Indian gold demand stays weak as prices rise: Demand for gold in India, the world's biggest consumer, stayed subdued on Friday after prices moved higher tracking a simil

INDORE, India (prHWY.com) August 18, 2012 - Daily Commodity Report by www.epicresearch.co - 16 August 2012

HEADLINES:
* Indian gold demand stays weak as prices rise:

Demand for gold in India, the world's biggest
consumer, stayed subdued on Friday after prices
moved higher tracking a similar trend overseas and as
poor monsoon rainfall slashed purchases in key
southern markets. The most active gold for October
delivery on the Multi Commodity Exchange (MCX) was
up 0.24 percent at Rs 30,172 per 10 grams by 0927
GMT, not far from a record high of Rs 30,428 hit in
June.

* Brent crude falls on possibility of reserves
release:

Brent October crude futures fell 1 per cent on Friday on
talk of a possible release of US strategic petroleum
reserves and expectations that North Sea output will
rebound after maintenance curbs production in
September.
The bounce left Brent on pace for a third straight
weekly gain, needing to settle above $112.95 a barrel,
while US crude closed in on a 3 per cent weekly
increase.
DAILY MCX GOLD ANALYSIS:
OPEN: 30166
HIGH: 30167
LOW: 30153
CLOSE: 30160
GOLD LOOKS BULLISH
TREND: UPWARDS
STRATEGY: BUY ON DIPS.
STRATEGY: BUY ON DIPS.

DAILY MCX SILVER ANALYSIS:
OPEN: 53632
HIGH: 53653
LOW: 53617
CLOSE: 53627
SILVER LOOKS BULLISH
TREND: UPWARDS
STRATEGY: BUY ON DIPS
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