Daily Commodity Report by www.epicresearch.co -- 14th February 2013

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indore, India (prHWY.com) February 14, 2013 - HEADLINE

Base metals close mixed on the LME.
BASE metals have closed mixed on the London Metal Exchange (LME), struggling for direction amid a lack of clear market drivers. At the PM kerb close on Wednesday, LME three-month copper was down 0.1 per cent at $US8,225.50 a metric ton. Aluminum was up 1.1 per cent at $US2,142/ton. Base metals looked to the currency markets for direction on Wednesday, gaining with the euro in early trade, and softening somewhat later in the session as the single currency later lost ground against the US dollar. Since base metals are priced in US dollars, they are less affordable to other currency holders when the greenback strengthens.

Gold declines on lower demand, silver recovers

Gold prices fell to nearly two week low at the bullion market here ,further selling by stockists and investors amid dull retail demand. In contrast, silver recovered moderately on renewed speculative off-take as well as mild industrial demand.
TRADING TIP:
Sell Gold Apr
* Sell Crude Oil Feb
* Below 5240
* TGTS-5200/5150
* SL-5260


* Sell Zinc Feb
* Above 118.10
* TGTS-119/120
* SL- 117.50


ANALYSIS
DAILY MCX GOLD CHART
OPEN: 30602
HIGH: 30637
LOW: 30510
CLOSE: 30554

* GOLD LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE

DAILY MCX SILVER CHART
OPEN: 57669
HIGH: 57850
LOW: 57405
CLOSE: 57442

* SILVER LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE

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