Daily Commodity Report By www.epicresearch.co - 19 December 2012

HEADLINES: Sagging dollar may take glitter off gold Gold is likely to head lower in the domestic market after a sharp fall overnight in global exchanges. A

Indore, India (prHWY.com) December 19, 2012 - Daily Commodity Report by www.epicresearch.co - 19 December 2012


HEADLINES:
Sagging dollar may take glitter off gold

Gold is likely to head lower in the domestic market
after a sharp fall overnight in global exchanges. A
weakening dollar that could render the Indian rupee
will also boost the trend. Signs of progress in the US
fiscal talks have begun to weaken gold since the dollar
could slip in the event of a solution to the crisis that has
been dragging for sometime now. A rising rupee, on the
commodities such as gold, crude oil and edible oil.
other hand, makes imports cheaper, particularly that of
These commodities top the import basked as India
imports a good quantity of these to meet rising
demand.
Base metal prices close mixed on LME.
Base metals have closed mixed on the London Metal
Exchange (LME), propped up to a certain extent by
hopes for a US fiscal cliff resolution, but struggling to
make much headway in quiet, end-of-year trade. At the
the complex, up 1.1 per cent at $US17,795 a metric ton.
PM kerb close, LME three-month nickel was leading
However, flagship copper was weaker, down 0.5 per
cent at $US8,024/ton.

Trading tip:

Sell Zinc Dec
Below 113
TGTS-112.40/111.60
SL-113.70
Previous Performance
Buy Copper Feb
Above 446.90
TGTS-449.40/453
SL-443.20

DAILY MCX GOLD ANALYSIS:
OPEN: 31379
HIGH: 31535
LOW: 31023
CLOSE: 31056
GOLD LOOKS DOWNWARD
TREND: BEARISH
STRATEGY: SELL ON RISE
DAILY MCX SILVER ANALYSIS:
OPEN: 61607
HIGH: 62164
LOW: 60566
CLOSE: 60687
SILVER LOOKS DOWNWARD
TREND: BEARISH
STRATEGY: SELL ON RISE
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