Daily Commodity Market News By Epic Research - 17th February 2014

COMMODITY WRAPUP

GOLD

Gold prices moved higher as poor US Retail sales and Unemployment data raised safe haven appeal for gold and weaker dollar also

helped Gold prices to move higher. We expect Gold prices may move more higher for the coming day’s as poor US data and ETF

buying could keep the prices in range to higher.

BUY GOLD(APR) ABOVE 29450 TGTS 29530/29630 SL 29350

SELL GOLD(APR) BELOW 29250 TGTS 29170/29070 SL 29350

SILVER

Finally Silver has broke its upper range 45850 level and made high of 46700. Due to positive nots on COMEX silver we expect MCX

silver can move up to 47500, on the other side below 45850 level can take price to 45500-45200 level.

BUY SILVER ABOVE 46850 TGTS 47100/47450 SL 46600

SELL SILVER BELOW 46500 TGTS 46250/45900 SL 46800

DHANIYA

Castorseed Mar looking sideways to bearish in daily chart. Momentum indicators also support bearishness, recom-

mending sell on high. In Intraday basis having some bullishness but allover castorseed is in downside

nearest support @ 4250 & nearest resistance @ 4310.

BUY DHANIYA APR ABOVE 9430 TGT 9460,9510 SL 9380

SELL DHANIYA APR BELOW 9250 TGT 9220,9170 SL 9290

SPECIAL NEWS

The Government on Friday raised the import tariff value on gold to $421 from $404 per 10 grams and silver tariff value to $663 per kg from $635, respectively, taking into account the volatility in the global prices The tariff value on imported brass scrap has reduced to $3913 per tonne from $3,959 per tonne, while on poppy seeds it has been kept unchanged at $3,195 per tonne.The tariff value of areca nuts has been raised to $1,872 per tonne from $1,816 per tone .

GDP rose by 0.3% in the euro area during the fourth quarter of2013, compared with the previous quarter, according to flash estimates publishedby Eurostat, the statistical office of the European Union. In the third quarterof 2013, GDP grew by 0.1% in the euro area. Compared with the same quarter ofthe previous year, seasonally adjusted GDP rose by 0.5% in the euro area, after-0.3% in the previous quarter. Over the whole year 2013 3, GDP fell by 0.4%in the euro area.

The total rabi sown area, as per reports received from States, during the week ending 14.2.2014 stands at 656.67 lakh hec tare as compared to 621.39 lakh hectare at this time last year, up 5.70%. Total sown area under wheat, total pulses, total coarse cereals and rapeseed & mustard are final for rabi sea-

COMMODITY BUZZ

The Gold prices for April expiry settled at $ 1318.6 per troy . ounce. This was the highest level for Gold since November last year. The rally in COMEX Gold for the week ending 14 February 2014 was phenomenal. The prices galloped by 4.4% after US economic data enthused confidence in Gold traders. The Commerce Department released a report on Thursday showing an unexpected drop in U.S. retail sales in the month of January

Comex Copper prices settled at $ 3.262 per pound on 14 February 2014 from $ 3.236 per pound on 7 February 2014. The buying sentiments of Copper got a setback during the weekend after the news that China is expected to show slower growth though the week still ended in green for the commodity. The exports targets of China are getting slower and expected to remain tugged at 7.5% in 2014. Light Sweet Crude Oil for March 2014 delivery settled at $ 100.3 per barrel on 14 February 2014, against $ 99.88 per barrel a week before. Weak Dollar resulted in offsetting the retail sales data thereby benefiting the prices of Light Sweet Crude Oil on a marginal basis. The retail sales of US declined after the auto sales showed a sharp decline. inventories of Crude Oil increased by 3.3 million barrels.

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