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Daily Commodity Market News By Epic Research -31st March 2014

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Due to positive US data, a sharp fall seen in gold on Friday, made low of 28119, and closed at 28380 level. For Monday we expect

price may correct up to 28480 level before going to touch 28000 level, a firm buying only above 28500 for 28800 level.

BUY GOLD(APR) ABOVE 28500 TGTS 28580/28700 SL 28400

SELL GOLD(APR) BELOW 28250 TGTS 28170/28050 SL 28350


Silver fell from opening price and settled at 42759. for Monday price may find support at 42000 level and for up side at 43200 level.

BUY SILVER(MAY) ABOVE 43300 TGTS 43550/43900 SL BELOW 43000

SELL SILVER(MAY) BELOW 42400 TGTS 42150/41800 SL 42700


BUY GUARSEED APR ABOVE 4785 TGTS 4815,4865 SL 4735



The University of Michigan said that consumer sentiment rose to a seasonally adjusted 80.0 in March, from 79.9 in Feb- ruary and against the analyst expectation to rise to 80.5 last


India’s total external debt stock stood at US$ 426.0 billion at end-December 2013,, recording an increase of US$ 21.1 billion i.e. an increase of 5.2% over the level at end-March 2013, according to the Department of Economic Affairs, Ministry of Finance. India’s external debt to GDP ratio stood at 23.3 per cent at end-December 2013 vis-à-vis 21.8 per cent at end- March 2013. Short-term debt accounted for 21.8 per cent of India’s total external debt, while the remaining (78.2%) was long-term debt. Component-wise, commercial borrowings accounted for 31.5 per cent of the total external debt, fol- lowed by NRI deposits (23.2%) and multilateral debt (12.3 per cent).

After seeing a record rise in 2012-13, India’s iron ore imports have plunged to a five-ayear low so far this financial year. In the first 11 months of 2013-14, steel mills and sponge iron makers together imported 420,000 tonnes of iron ore, primarily lumps, a decline of 86.2 per cent compared with 3.05 million tonnes (mt) in 2012-13.


Pepper price prevailing in Vietnam during the week increased by VND 1,000 per kg from VND 125,500 per kg for black last week; while for white pepper increased significantly by VND 11,500 per kg to VND 182,500 per kg. In India, Kochi spot rate jumped by Rs 500 per quintal over the last week to Rs 52900 per

quintal for the MG-1.

A strong array of US economic data continued to haunt gold. The metal slumped well under $1300 per ounce today as the con- sumer spending in the US edged up in February at the fastest rate since November. The strength in US dollar also played its part as traders continued to sell the metal. COMEX futures quote at $1288, down $7 per ounce on the day. MCX Gold quotes at Rs 28176, down Rs 273 per 10 grams on the day.

Silver prices fell 0.25% to Rs 43,765 per kg in futures trade as speculators engaged in off-loading positions. At the Multi Com- modity Exchange, silver for delivery in July lost Rs 111, or 0.25%, to Rs a43,765 per kg, with a turnover of 25 lots. Also, silver for delivery in May shed Rs 62, or 0.14%, to Rs 42,984 per kg, in a business turnover of 564 lots.

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