MTECHTIPS COMMODITY MARKET NEWS 2

MTECHTIPS:-China March Gold imports from HK more than double to 223.52 tons The world's second biggest economy is ebullient about gold purchase as data shows that China's imports of yellow metal from Hong Kong more than doubled in the month of March to touch 223.52 metric tons, including scrap.This is compared to 97.1 tons in February and 62.91 tons in March 2012.Meanwhile, the net imports-- arrived at deducting metal's flows from China into Hong Kong-of mainland China stood at 130.03 tons in comparison to 60.95 tons in February 2013. Also, China's exports of gold to Hong Kong stands at 93.5 tons in March, a surge from 36.16 tons in February. This is when compared with 32.5 tons in March 2012.The shipments preceded the dip in gold prices in April, 2013.“This is quite out of expectation as all these imports were done before the market slump in April,” said Qu Mingyu, a trader at Bank of China to Bloomberg.“Judging from the explosive growth of trading volume on theShanghai Gold Exchange in the second half of April, and anecdotes that many jewelry shops are sold out throughout the country, imports might be even more substantial in April,” he added.The spot contract volumes in Shanghai exchange also climbed to 323 tons spanning the period between April 16 and May 3. Volumes touched a record figure of 43,272 kilograms on April 22. MTECHTIPS:-MCX Copper trend positive, resistance at 399 and 402 levels Chinese copper imports providing for a subdued picture, the futures on the MCX as well as on the Comex is trading mild. Base Metals on India's MCX opened marginally negative. Overall trend for metal prices looks sideways positive, according to our analyst.MCX copper June futures may touch 399 and 402 levels, even as on the lower side prices have support of 392.4 and 390 levels . Copper imports to China registered a dip of 7.4% in April month-on-month to hit a low in almost two years as Port strikes in Chile delayed shipments. The arrivals of anode, refined copper, alloy and semi-finished copper to China stood at 295,799 tons for April. This is the lowest figures registered since June

2011."Copper imports fell in April because domestic production of refined copper remained strong, and end-users have used stocks already in China, reducing the need for imports," said Yang Xiaoguang, analyst at Jinrui Futures to Reuters yesterday. MTECHTIPS:-MCX Silver sideways; support 44600, resistance 45500 Silver futures for July delivery on India's Multi Commodity Exchange (MCX) looks sideways for the day and intra-day price movement still looks unclear due to high volatility in currency market.“For intra-day, support for the commodity is seen at 44600 while 45500 is the resistance. If prices break 45500 level then only the prices are expected to move towards 46000 mark.MCX silver for July delivery opened slightly positive following buying sentiments in international market and was seen trading flat at Rs.44862 per kilogram as of 01.46 PM IST on Wednesday.Silver futures on Globex platform of Comex was up by 0.04% at $23.815 per troy ounce as of 02.00 PM IST on Wednesday.Firm trend in precious metals in the global market and rise in jewellery demand in the domestic market may support silver prices.Silver jewellery and investment demand in India fell significantly despite recent bear rally in bullion complex. Fall in demand may cause imports to fall by 12% to 2,200 tons this year against last year's 2,500 tons. MTECHTIPS;-MCX Gold sideways to bearish; support 26750 Gold futures for June delivery on India's Multi Commodity Exchange (MCX) is sideways to bearish for the day.“For intra-day, support for the commodity is seen at 26750 and below that could test level of 26500. Resistance is there at 26850 and above that it may face level of 26950,“Intra-day traders are advised to sell on rise considering 26950 as stop loss. Those who are holding buy position should maintain immediate stop loss of 27750,”MCX gold for June contract opened slightly positive, but was unable sustain above 26850 level and was seen trading up by 0.24% at Rs.26785 per 10 grams as of 03.01 PM IST on Wednesday.Gold purchases in India, the second largest gold consumer after China may exceed 100 tons for a second month in May, according to the sources. In the global market, the yellow metal continued its negative trend as

investors diverted their investment to stocks for better returns. Holdings in bullion ETFs decreased to their lowest since early 2009. MTECHTIPS:-Gold inches lower amid buoyant risk appetite Gold futures barely traded lower in the early part of Wednesday’s session as positive German data and another strong performance by U.S. equities gave traders reasons to increase risk. On the Comex division of the New York Mercantile Exchange, gold futures for June deliver inched down by 0.01% to USD1,448.65 per troy ounce in Asian trading Wednesday after settling down 1.18% at USD1,450.75 a troy ounce in U.S. trading on Tuesday. Gold futures were likely to test support USD1,439.75 a troy ounce, Wednesday's low, and resistance at USD1,478.15, Monday's high. Positive economic data out of Germany, the euro zone’s largest economy, helped ignite a rally in European and U.S. stocks while pressuring gold. Official data released earlier showed that German factory orders climbed 2.2% in March, defying expectations for a 0.5% decline. Year-over-year, German factory orders fell 0.4% in March, much better than forecasts for a 2.9% decline. The data came on the heels of speculation the European Central Bank, which pared interest rates by 25 basis points to 0.50% last week, is open to more rate cuts aimed at bolstering the floundering euro zone economy.

WWW.MTECHTIPS.COM 07489294118-119