Daily Commodity Report by www.epicresearch.co -- 21st february 2013

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indore, India (prHWY.com) February 20, 2013 - HEADLINE
Gold languishes near seven-month low on Fed worries.
Gold rebounded half a percent on, but remained near a seven-month low hit in the previous session on worries that the Federal Reserve may stop or slow its bond buying programme. Gold fell together with other commodities, amid speculation that a hedge fund had been forced to liquidate positions across metals and oil markets. Spot gold gained nearly half a percent to $1,569.26 an ounce by 0034 GMT, after falling to $1,558.24 in the previous session, its lowest since last July. It fell 2.6 percent on Wednesday, posting the biggest daily drop in a year. U.S. gold fell 0.6 percent to $1,569.20.
Copper hits 1-month low, China traders still absent
Copper prices fell on to their lowest in more than month, dragged down by persistent demand concernsas post-holiday buying from top consumer Chinaremained subdued, and with a strong dollar alsoweighing on prices. Benchmark three-month copper onthe London Metal Exchange (LME), untraded at theclose, was bid at $7,960 a tonne, having fallen belowthe psychologically significant $8,000 tonne to hit itslowest level since Jan. 17
TRADING TIPS
Sell Copper Feb
* Below 429
* TGTS-426/422
* SL-432
Buy Natural Gas Feb
* Above 179.60
* TGTS-183/186
* SL- 177

ANALYSIS
DAILY MCX GOLD CHART
OPEN: 30028
HIGH: 30040
LOW: 29505
CLOSE: 29579
* GOLD LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE
DAILY MCX SILVER CHART
OPEN: 55259
HIGH: 55278
LOW: 53266
CLOSE: 53720
* SILVER LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE
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