Weekly Commodity Report BY www.epicresearch.co 25th February 2013
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* Gold posts second weekly loss on economic hopes.
Gold edged up, but notched a second consecutive weekly loss, as a better U.S. economic outlook and indications the Federal Reserve may end its stimulus program prompted investors to buy riskier assets such as equities. With a lack of key U.S. economic data on Friday, bullion investors continued to digested the minutes from the Fed's Open Market Committee (FOMC) meeting in January that suggested stimulus measures may end earlier than first thought. Improving global market confidence and a Wall Street rally also hit gold's traditional safe-haven appeal.
* Copper slides to two-month low on global economy concerns
Copper slipped on to its lowest level in two months and showed its biggest weekly loss in 14
months on concerns about the global economy and the demand for industrial metals. Three-
month copper on the London Metal Exchange closed at $7,805 a tonne, down from $7,860 at the
close on Thursday. It earlier fell to its lowest level since Dec. 21, at $7,796.
TRADING TIP:
Sell Crude oil Mar
Around 5100
TGTS-5040/4970
SL-5150
Sell Zinc Feb
Around 113.20
TGTS-112/110.50
SL-114
* MCX WEEKLY GOLD CHART
OPEN: 30215
HIGH: 30275
LOW: 29263
CLOSE: 29605
* GOLD LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE
* MCX WEEKLY SILVER CHART
OPEN: 56215
HIGH: 56415
LOW: 53077
CLOSE: 53702
* SILVER LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE
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