Daily Commodity Report by www.epicresearch.co -- 1 Feburary 2013

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indore, India (prHWY.com) February 1, 2013 - HEADLINES

US jobs data, lower inflation may pressure gold.Gold is likely to be under pressure after prices dropped in the global market on signs that inflation in general is receding and employers in the US perhaps provided more jobs in January. A fall in inflation cuts into the appeal for gold that is seen as a hedge against soaring prices of commodities. The rising rupee, in demand from institutions abroad to invest in stocks and other markets, is also likely to add to the pressure. A higher rupee makes import of commodities such as gold, crude oil and vegetable oils cheaper.

* Copper surges on US monetary hopes.

Copper prices hit a three and a half month high on supported by hopes of continued US monetary stimulus. But they later eased back on profit-taking.Copper was also supported by early speculative buying ahead of the Chinese official purchasing managers' index, scheduled to be published later this week. The HSBC PMI data released last week showed the January data at a two-year high.

 TRADING TIP:

Sell Gold Apr
Below 30500
TGTS-30400/30300
SL-30600


Sell Zinc Feb
Below 113.35
TGTS-112.80/112
SL- 113.90

ANALYSIS
OPEN: 30200
HIGH: 30248
LOW: 29794
CLOSE: 29871
* GOLD LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE

ANALYSIS

OPEN: 59051

HIGH: 59084

LOW: 57472

CLOSE: 57849

* SILVER LOOKS DOWNWARD

* TREND: BEARISH

* STRATEGY: SELL ON RISE

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