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Daily Commodity Market Update: March 4, 2013

The daily commodity report provides an overview of commodity price movements and analysis. Gold prices edged up slightly as the US dollar eased from a six-month high. Copper rebounded from a three-month low on comments from the Bank of Japan governor nominee and upbeat US manufacturing data. Trading tips are provided to sell silver and nickel futures at specified target prices. Market statistics and charts are included to analyze trends in gold, silver and other commodities.

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0% found this document useful (0 votes)
40 views6 pages

Daily Commodity Market Update: March 4, 2013

The daily commodity report provides an overview of commodity price movements and analysis. Gold prices edged up slightly as the US dollar eased from a six-month high. Copper rebounded from a three-month low on comments from the Bank of Japan governor nominee and upbeat US manufacturing data. Trading tips are provided to sell silver and nickel futures at specified target prices. Market statistics and charts are included to analyze trends in gold, silver and other commodities.

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© Attribution Non-Commercial (BY-NC)
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DAILY COMMODITY REPORT 4TH MARCH 2013

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+91 9752199966

HEADLINES
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 Kurodas Pledge, U.S. Data

TRADING TIP:

Sell Silver May Below 54670 TGTS-54500/54300 SL-54750 Sell Nickel Mar Around 923 TGTS 915/906 SL- 930

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.

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PRODUCT NAME

EXP DATE

OPEN

HIGH

LOW

CLOSE

LTP

CHG

PERCENTAGE CHANGE

CHANA CHILLI GUR JEERA

7/19/2012 7/19/2012 7/19/2012 7/19/2012 7/19/2012

4556 5060 1188 14955 1044

4573 5060 1188 14960 1053

4525 5018 1178 14650 1035

4560 5120

4532 5018 1178 14800 1041 0.10 42435 0.10 781.3 4315 0.30 4540 0.10 1282 0.00

-28 -102 -5.5 -252.5 -8 45 -1.55 12 -124 36

-0.61 -1.99 -0.46 -1.68 -0.76 5017.00 0.11 921.70 -0.2 0.28 53867.00 -2.66 29740.00 2.89 124.25

DAILY MARKET STATISTICS


1183.5 15052.5 1049

Symbol

Expiry Date

PCP

% Change

LTP

KAPAS

Crude Oil PEPPER 7/19/2012 Nickel REF SOYA 7/19/2012 SOY BEAN Silver 7/19/2012 TURMERIC 7/19/2012 Gold WHEAT Lead 7/19/2012

19-Mar-13 42300 42555 28-Mar-13 780.5 783.6 4309 5-Mar-13 4330 4600 4676 5-Apr-13 1251 28-Mar-13 1282

5010.00 42250 42390 920.70 777.4 782.85 4265.5 53711.00 4303 4518 4664 29717.00 1251 124.25 1246

Zinc

28-Mar-13

111.40

0.01

111.45

Copper

28-Mar-13

430.45

0.20

431.10

Aluminium

28-Mar-13

107.70

0.01

107.75

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DAILY MCX GOLD CHART

ANALYSIS
OPEN: 29722 HIGH: 29767 LOW: 29722 CLOSE: 29740

GOLD LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE

DAILY MCX SILVER CHART

ANALYSIS
OPEN: 54981 HIGH: 55002 LOW: 54801 CLOSE: 54937

SILVER LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE

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