Daily Commodity Market News By Epic Research - 02th April 2014

COMMODITY WRAPUP

GOLD

GOLD MCX Short term trend is down, Immediate support @ 27820 Immediate Resistance @ 28160 GOLD MCX Closed

@ 27912. Yesterday Intraday Range of GOLD MCX was 249. Open Interest was down +3.74 %, Volumes were 12918

lots. For today Keep a close eye on US data, volatility may Rule the overall Market due to USDINR Movements.

BUY GOLD(JUN) ABOVE 28020 TGTS 28100/28200 SL 27920

SELL GOLD(JUN) BELOW 27820 TGTS 27740/27640 SL 27920

SILVER

SILVER MCX Short term trend is DOWN, Immediate support @ 42200Immediate Resistance @ 43600 SILVER MCX Closed @

42588 . Yesterday Intraday Range of SILVER MCX was 440. Open Interest was down +1.24 %, Volumes were 14759 lots. For today

Keep a close eye on US data, volatility may Rule the overall Market due to USDINR Movements.

BUY SILVER(MAY) ABOVE 43020 TGTS 43270/43620 SL BELOW 42600

SELL SILVER(MAY) BELOW 42500 TGTS 42300/42000 SL 42850

GUARSEED

Guarseed April short term trend looking sideways to bearish in daily chart. Momentum indicators is in mid range.

In intraday basis immediate support @ 4750 & immediate resistance @ 4840.

BUY GUARSEED APR ABOVE 4840 TGTS 4870,4920 SL 4790

SELL GUARSEED APR BELOW 4750 TGTS 4720,4670 SL 4800

SPECIAL NEWS

The consumer price inflation for industrial worke rs eased to a two year low of 6.73% in February due to

weakening pressure on food items. The year-on-year inflation measured by monthly Consumer Price Index for Industrial workers (CPI-IW) stood at 6.73% for February, 2014, as compared to 7.24% for the previous month and 12.06 per cent during the corresponding month of the previous year, according to a Labor Ministry statement. The food inflation stood at 7.56% in February, 2014, against 8.94% of the previous month UK manufacturing production and new orders both continued to rise at robust clips during March, main- taining the positive start the sector has made to 2014.The ongoing upturn also supported further job creation. Price pressures continued to ease, however, as input costs fell and selling price inflation slowed to a seven month low. Market CIPS Purchasing Manager’s Index eased to an eight month low of 55.3 in March, signaling a further cooling of growth from the peaks scaled towards the end of last year.

COMMODITY BUZZ

National Commodities and Derivatives Exchange (NCDEX) has announced the launch of futures contracts

in Bajra expiring in the months of May 2014, June 2014 and July 2014 would be available for trading from April 01, 2014. Contracts for further expiries will be launched as per the contract launch calendar, says the exchange.

US Gold futures managed to continue the recovery on short covering triggered by weak dollar amid Yellen comments on continuation of stimulus program. On Monday, Fed Chair Janet Yellen said that there is still room for the central bank to help the economy and reiterated that the Fed’s commitment to economic stimulus will still be needed for some time. The U.S. Institute of Supply Man- agement is to publish a report on U.S. manufacturing growth for March later in the day. The Comex gold for June delivery trades at $1,284.20 a troy ounce, up $0.40and Silver May contract quotes at $19.737 a troy ounce, down 0.015 over Monday’s close Local Gold plum- meted further on weak international market amid stronger local currency against the greenback

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