Daily Commodity Report by www.epicresearch.co –– 14th March 2013

Gold fell as a strong U.S. retail sales report boosted optimism about the U.S. economy and after prices failed for a second time to surpass $1,600 an ounce, prompting investors to reduce bullion positions.

ListFree.org (Press Release) - Thursday, March 14th, 2013

HEADLINE

Gold falls on optimism over US economic improvement.
Gold fell as a strong U.S. retail sales report boosted optimism about the U.S. economy and after prices failed for a second time to surpass $1,600 an ounce, prompting investors to reduce bullion positions. The metal rose to within $1 of $1,600 on hopes that the European Central Bank will extend its loose monetary policy following euro zone industrial output data showing a surprisingly big fall in January. Bullion later turned lower after it failed to break above $1,600 for a second day. The dollar index’s seven-month high and gains in U.S. equities also weighed on gold’s safe -haven appeal..
Copper Falls on Concern China Housing Curbs Will Sap Demand.
Copper fell the most in a week amid concern that policy makers will expand efforts to cool the housing market in China, the world’s biggest consumer. Chinese stocks fell, dragging the benchmark index to a two- month low, as real estate and construction companies tumbled. Sina.com reported the southern city of Shenzhen banned developers from raising home prices.
TRADING TIP:
 Sell Aluminium Mar
Below 105.50
TGTS-104.80/104
SL-106
 Sell Crude Oil Mar
Below 5030
TGTS 5000/4960
SL- 5060

ANALYSIS
DAILY MCX GOLD CHART
OPEN: 29444
HIGH: 29594
LOW: 29413
CLOSE: 29489
• GOLD LOOKS DOWNWARD
• TREND: BEARISH
• STRATEGY: SELL ON RISE
DAILY MCX SILVER CHART
OPEN: 54875
HIGH: 55175
LOW: 54580
CLOSE: 54757
• SILVER LOOKS DOWNWARD
• TREND: BEARISH
• STRATEGY: SELL ON RISE

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