Daily Commodity Report By www.epicresearch.co - 23 November 2012

HEADLINES: Gold inches up as stocks rise, dollar fades; Indian demand beat expectations. Gold prices edged up on Thursday as well-received

Indore, India (prHWY.com) November 23, 2012 - Daily Commodity Report by www.epicresearch.co - 23 NOVEMBER 2012


HEADLINES:
Gold inches up as stocks rise, dollar fades;
Indian demand beat expectations.

Gold prices edged up on Thursday as well-received
Chinese manufacturing data and hopes that a bailout
deal for Greece may eventually be agreed boosted
stocks and lifted the euro to three-week highs versus
the dollar. Prices held in a tight range, however, with
trading activity expected to be light because of the US
Thanksgiving holiday, which has closed Wall Street.


Base metals rise, except nickel.

LME three-month copper was up 0.30 per cent at
$US7,715 a metric ton. Aluminum was up 0.8 per cent
at $US1, 944.50/ton. Base metals drew strength
Thursday
from
manufacturing
HSBC's
purchasing
preliminary
managers
China
index
for
November, which showed the first expansion in 13
months, signaling further stabilization in China's
Sell Nickel Nov economy. The reading, a measure of nationwide
Below 913 compared with a final reading of 49.5 in October.
manufacturing activity, rose to 50.4 in November

Trading tip:

Sell Aluminium Nov
Below 106.70
TGTS-106.10/105.40
SL-107.20
Previous Performance

Sell Nickel
Below 913
TGTS-906/898
SL-919
DAILY MCX GOLD ANALYSIS:
OPEN: 31817
HIGH: 31868
LOW: 31794
CLOSE: 31849
GOLD LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPS
DAILY MCX SILVER ANALYSIS:
OPEN: 62074
HIGH: 62266
LOW: 62065
CLOSE: 62156
SILVER LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPS
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