Daily Commodity Report by www.epicresearch.co 31st December 2013

COMMODITY WRAPUP

GOLD

The GOLD rate touched an intraday high of Rs 28551 and an intraday low of Rs 28331. 9367 contracts had been traded. Gold

Price was taking support at 28250 and traded in sideways range all day. In evening session gold price breached the nearest

support 28360 and made low of 2833. a weak trend in the overseas markets mainly put pressure on the gold prices at futures

trade here.

BUY GOLD ABOVE 28480 TGTS 28560/28660 SL 28380

SELL GOLD BELOW 28250 TGTS 28170/28070 SL 28350

SILVER

The SILVER rate touched an intraday high of Rs 44879 and an intraday low of Rs 44127. 19465 contracts had been traded. Silver

opened at morning with gap down and made day high. In mid session Silver traded in narrow range and made night low 44127 . Af-

ter evening there had seen more selling pressure in Silver and it will helpful to break the nearest support 43900.

BUY SILVER ABOVE 44480 TGTS 44680/44980 SL 44080

SELL SILVER BELOW 43900 TGTS 43700/43400 SL 44250

SPECIAL NEWS

Mining major Vedanta Resources has restarted its min- ing operation in Sesa Sterlite mine. The company has asked the permission from Supreme Court to start the production of mine. The Supreme Court gave its per- mission to start mining operation in its order dated 18 April 2013.

Nippon Steel & Sumikin Stainless Steel (NSSC), the largest stainless steel producer has settled the import

prices for high carbon ferrochrome with South African producers at 126 cent/lb. CIF for the first quarter of

2014, rising by 4.6% from a quarter ago.In fact, NSSC expected South African producers to reduce prices.

China exports of stainless sheets and coils totaled 170585 tons in November, up slightly by 1 .1% from a

month ago. In November, the country’s exports of stainless sheets coils made to Taiwan totaled 53,823

tons, decreasing by 12.2% from a month ago.

COMMODITY BUZZ

Due to High consumption and rupee depreciate com- bined pressured Natural Gas to become top performer in energy for 2013.

The inventories of Copper maintained on LME ware- houses were yet again down reaching 367450 tonnes. The inventories have been in a declining mode, mostly on account of rise in supply premiums in spot markets.

India gold and crude oil futures edged lower while copper price recorded an up-tick on Monday. Crude

oil failed to get support from firm international cues and was seen trading in a narrow range. Gold futures

for February delivery on India’s Multi Commodity Exchange was seen trading with a loss.

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