Daily Commodity Report By www.epicresearch.co - 13 December 2012

HEADLINES: Gold tumbles 1 pct to below $1,700 on technical selling The most-active U.S. gold futures contract lost as much as 1.3 percent to $1,695.5 an ounce, while spot gold

Indore, India (prHWY.com) December 13, 2012 - Daily Commodity Report by www.epicresearch.co - 13 December 2012


HEADLINES:
Gold tumbles 1 pct to below $1,700 on technical
selling

The most-active U.S. gold futures contract lost as much
as 1.3 percent to $1,695.5 an ounce, while spot gold
dropped 1 percent to $1,694.16. The Federal Reserve
announced the plan to purchase $45 billion in longer-
term Treasuries each month on top of the $40 billion
monthly buying of mortgage-backed securities, as
expected,
but
set
inflation
and
unemployment
threshold for exit strategy.
Base metals remain up on industrial demand,
global cues.
Taking positive cues from the global markets and pick
up in domestic demand, select base metals remained
firm on the local non-ferrous metals market today with
prices rising up to Rs 5 per kg. Marketmen said reports
of gains in copper and other base metals at the London
Metal Exchange (LME) after data showed China's
industrial production accelerated to the fastest pace in
user, mainly buoyed the trading sentiment.
eight months, raising demand in the world's biggest

Trading tip:

Buy Lead Dec
Above 124.40
TGTS-125.10/125.90
SL-123.80
Previous Performance
Buy Nickel Dec
Above 958.40
TGTS-965/972
SL-952.10
DAILY MCX GOLD ANALYSIS:
OPEN: 31387
HIGH: 31490
LOW: 31300
CLOSE: 31397
GOLD LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPS
DAILY MCX SILVER ANALYSIS:
OPEN: 62359
HIGH: 63440
LOW: 62260
CLOSE: 63224
SILVER LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPS

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