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WEEKLY COMMODITY REPORT BY EPIC RESEARCH-16 JULY 2012
1. W eekly Commodity Report(16th July 12)
Commodity Updates
Gold climbs more than 1 per cent as euro sweeps higher
Gold rose more than 1 percent on Friday as the euro swept back into positive territory
against the dollar, extending gains it made earlier along with stocks and crude oil as
well-received Chinese growth data lifted appetite for assets seen as higher risk
Oil near $87 even as Chinese growth slows
Oil rose to near $87 a barrel Friday even as economic growth in China, the world's
second-largest crude consumer, slowed in the second quarter to a three-year low. The
decline was in line with expectations.
Silver futures tad higher on global cues
Silver prices edged higher by Rs 43 to Rs 53,060 per kg in futures trading today mostly in
line with a firming trend overseas
Zinc futures decline on global trend
Amid weak global trend and subdued domestic demand, zinc prices fell by 0.34 per cent
to Rs 103.35 per kg in futures trade today. At the Multi Commodity Exchange, zinc for
delivery in August declined by 35 paisa, or 0.34 per cent, to Rs 103.35 per kg, with a
business turnover of 47 lots
Copper futures down 0.33 pc on global cues
Copper prices declined by 0.33 per cent to Rs 425.90 per kg in futures trade today
largely in tune with a weakening trend overseas amid sluggish domestic demand.
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Technical Charts
Mcx Gold
MCX Gold crumbles slightly On Growing Fears of Global Economic Slowdown
SUPPORT: 29059, 28850, 28331
RESISTANCE: 29578, 29888, 30407
TREND: BEARISH
STRATEGY: BUY ON DIPS
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Mcx Silver
MCX SILVER showed volatile movements for the whole week. SILVER prices moved down
between 53580 to 52767.
RESISTANCE: 53497, 54227, 55605
SUPPORT : 52119, 51471, 50093
TREND : BULLISH
STRATEGY : BUY ON DIPS
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Mcx Copper
Copper prices are expected to test 404 on lower end. Prices held the support at 417.55-
427.15 zones. Prices are expected to trade within a range from 420 to 433.
SUPPORT : 420.02, 413.92, 404.22
RESISTANCE: 429.43, 433.92, 442.82
TREND : BULLISH
STRATEGY: BUY ON DIPS
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McxCrude oil
MCX Crude prices are expected to trade lower till 4564 -4760. One should remain cautioned
as it is oversold and can test the resistance at 4883 -5056 and can witness selling pressure.
RESISTANCE: 4883, 4933, 5056
SUPPORT : 4760, 4687, 4564
TREND : BEARISH
STRATEGY : SELL ON HIGHS
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