Daily Commodity Report By Epicresearch 23 November 2012
Epic Research is a leading financial services provider with presence in Indian and other global c0apital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday
Daily Commodity Report by epicresearch 23 November 2012
HEADLINE
Gold inches up as stocks rise, dollar fades Indian demand beat expectations.
Gold prices edged up on Thursday as well-received Chinese manufacturing data and hopes that a bailout deal for Greece may eventually be agreed boosted stocks and lifted the euro to three-week highs versus the dollar. Prices held in a tight range, however, with trading activity expected to be light because of the US Thanksgiving holiday, which has closed Wall Street.
Base metals rise, except nickel..
LME three-month copper was up 0.30 per cent at $US7,715 a metric ton. Aluminum was up 0.8 per cent at $US1, 944.50/ton. Base metals drew strength Thursday from HSBC's preliminary China manufacturing purchasing managers index for November, which showed the first expansion in 13 months, signaling further stabilization in China's
economy. The reading, a measure of nationwide manufacturing activity, rose to 50.4 in November compared with a final reading of 49.5 in October
TRADING TIPS:
Sell Aluminium Nov Below 106.70 TGTS-106.10/105.40 SL-107.20
Sell Nickel Nov Below 913 TGTS-906/898 SL-919
ANALYSIS
DAILY MCX GOLD CHART
OPEN: 31817
HIGH: 31868
LOW: 31794
CLOSE: 31849
GOLD LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPS
DAILY MCX SILVER CHART
OPEN: 62074
HIGH: 62266
LOW: 62065
CLOSE: 62156
SILVER LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPS
Epic Research is a leading financial services provider with presence in Indian and other global c0apital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday Tips, Stock Futures Tips, NSE Tips, BSE Tips, COMEX Tips, NCDEX Tips. Share Tips We provide services in equity, commodity and Forex market.
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