Weekly Commodity Report By www.epicresearch.co 4th feburary
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* Gold slightly lower after weak U.S. consumer data.
Gold prices were slightly lower on as weak U.S. consumer sentiment data offset earlier strength
following positive economic data from China, the world's second-biggest economy. Gold pushed to a high of $1,694.90 in early trade, close to the previous session's one-month peak, but retreated ahead of the long U.S. holiday weekend after U.S. data showed consumer sentiment at its lowest in more than a year.Equity markets and oil prices rebounded after U.S. House Republican leaders said they would seek to break a government budget impasse next week.
* Copper gains on upbeat China economic data
Copper rose on and was on track to close the week with small gains, bolstered by better-than-expected fourthquarter growth in top consumer China's economy, but
concerns about U.S. debt and supply surpluses kept gains in check. China's economy grew at a slightly
faster-than-expected 7.9 percent in the fourth quarter of 2012, the latest sign it is pulling out of a post-globalfinancial crisis slowdown that produced its weakest year of economic growth since 1999.
* TRADING TIP:
Buy Crude Oil Jan
Above 5190
TGTS-5250/5300
SL-5150
* Buy Copper Feb
* Above 436
* TGTS-430/425
* SL- 440
* MCX WEEKLY GOLD CHART
ANALYSIS
OPEN: 30800
HIGH: 30934
LOW: 30530
CLOSE: 30581
* GOLD LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE
* MCX WEEKLY SILVER CHART
ANALYSIS
OPEN: 58300
HIGH: 59787
LOW: 58300
CLOSE: 59378
* SILVER LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE
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