WEEKLY COMMODITY REPORT 25TH FEBRUARY 2013
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HEADLINES
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
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
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.
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MCX WEEKLY GOLD CHART
ANALYSIS
OPEN: 30215 HIGH: 30275 LOW: 29263 CLOSE: 29605
GOLD LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
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MCX WEEKLY SILVER CHART
ANALYSIS
OPEN: 56215 HIGH: 56415 LOW: 53077 CLOSE: 53702
SILVER LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
MCX WEEKLY COPPER CHART
ANALYSIS
OPEN: 448.05 HIGH: 448.05 LOW: 443.00 CLOSE: 423.75
COPPER LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
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MCX WEEKLY CRUDE OIL CHART
ANALYSIS
OPEN: 5202 HIGH: 5289 LOW: 5041 CLOSE: 5074
CRUDE OIL LOOKS SIDEWAYS TREND: CONSOLIDATE STRATEGY: SELL ON RISE
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COMEX WEEKLY SILVER CHART
ANALYSIS
OPEN: 29.81 HIGH: 30.15 LOW: 28.26 CLOSE: 28.75
COMEX SILVER LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
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COMEX WEEKLY GOLD CHART
ANALYSIS
OPEN: 1609.60 HIGH: 1618.62 LOW: 1554.80 CLOSE: 1580.21
COMEX GOLD LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
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