Today Commodity Market News : Technical View

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Indore, India (prHWY.com) March 13, 2013 - Technical View:

GOLD(APR)

Trend * Consolidate
Strategy * Sell on high
Resistance * R2 - 29950
* R1 - 29680
Support * S1 - 29150
* S2 - 28850

SILVER(MAY)
Trend * Consolidate
Strategy * Sell on high
Resistance * R2 - 57750
* R1 - 55870
Support * S1 - 53350
* S2 - 52200

MARKET WRAP :
* Gold headed for the longest rally in six months
* Silver futures for May delivery rose 1.1 percent to $29.16 an ounce
* Copper rose for a second day in New York
* Nickel, tin, aluminum and lead rose in London.
Gold headed for the longest rally in six months as signs of slowing growth in Europe increased speculation that central banks will expand stimulus, boosting demand for precious metals as a store of value. Copper rose for a second day in New York as global equities strengthened and Chinese passenger-vehicle sales had the strongest start to a year since 2010.

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