Daily Commodity Report by www.epicresearch.co - 4th March 2013

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indore, India (prHWY.com) March 4, 2013 - HEADLINE
Gold edges up as dollar eases from six-month peak.
Gold inched up on, bouncing off a one-week low marked the session before as the dollar eased from a more than six-month high hit in the previous session on the back of upbeat U.S. data. The $85 billion automatic spending cuts in U.S. government programmes, known as the "sequester", kicked off on Friday in the absence of a deal among lawmakers. Investors will be watching for its impact on the economy. Spot gold had risen 0.3 percent to $1,580.19 an ounce by 0043 GMT, after hitting a one-week low of $1,564.44 in the previous session. U.S. gold was up nearly half a percent at $1,579.90.
Copper Rebounds From 3-Month Low on Kuroda's Pledge, U.S. Data

Copper gained for the first time in three days in London after Bank of Japan governor nominee Haruhiko Kuroda said he would do whatever it take to curb deflation and as U.S. manufacturing data beat expectations. Aluminum rose for the first time in 11 days. Copper for delivery in three months climbed as much as 0.8 percent to $7,761 a metric ton on the London Metal Exchange before trading at $7,749 at 11:13 a.m. Tokyo time. The metal touched $7,652 on March 1, the lowest since Nov. 19, and dropped 1.3 percent last week.

TRADING TIP:
* Sell Silver May

Below 54670
TGTS-54500/54300
SL-54750

* Sell Nickel Mar

Around 923
TGTS 915/906
SL- 930

ANALYSIS
DAILY MCX GOLD CHART
OPEN: 29722
HIGH: 29767
LOW: 29722
CLOSE: 29740

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

DAILY MCX SILVER CHART
OPEN: 54981
HIGH: 55002
LOW: 54801
CLOSE: 54937

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