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MCX NEWSLETTER- DAILY

25th APRIL2013

Daily MCX Newsletter 25th April2013

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MARKET WRAP

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MARKET NEWS

Spot gold fell USD 2.14 an ounce to USD 1,428.66 by 0045 GMT. Gold sank a combined USD 225 on April 12 and 15 in a sell-off that surprised ardent gold investors and bulls. US gold was at USD 1,428.10 an ounce, up USD 4.40. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.38 percent to 1092.98 tonnes on Wednesday from 1097.19 tonnes on Tuesday. The current holdings are at multi-year lows. Barrick Gold Corp, making a painful adjustment to a sustained slump in bullion prices, reported progress in controlling costs on Wednesday and said it planned further cuts in capital spending, sending its shares higher.

Asian shares edged higher on Thursday, supported by views that the recent run of weak global economic data will encourage major central banks to keep or deepen their monetary stimulus to bolster growth.

Gold inched lower on Thursday, hovering below a 1-week high hit earlier this week, as firm equities sapped interest in the precious metal, which has seen steady outflows on exchange-traded funds. Gild shrugged off news the Russian Federation raised its gold reserve for a fifth straight month in March and Turkey added to its holdings for a fourth month. Billionaire investor John Paulson told investors on Wednesday he is staying the course on gold even though there may be more short-term volatility in the price of the metal.

US crude futures extended gains for a sixth day on Thursday after rising 2.5 percent a day earlier, supported by a big drop in US gasoline inventories and speculation that a glut of crude at the Cushing, Oklahoma hub could soon ease.

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TECHNICAL VIEW

BULLION

GOLD
OUTLOOK:
TREND : - CONSOLIDATE

RESISTANCE : - 26550, 26800 SUPPORT STRATEGY : - 25700, 25250 : - BUY ON DIPS

SILVER
OUTLOOK:
TREND : - CONSOLIDATE

RESISTANCE : - 43500, 44200 SUPPORT STRATEGY : - 43750, 42800 : - BUY ON DIPS

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ENERGY

CRUDEOIL
OUTLOOK:
TREND : - CONSOLIDATE

RESISTANCE : - 5000, 5050 SUPPORT STRATEGY : - 4920, 4850 : - BUY ON DIPS

NATURAL GAS
OUTLOOK:
TREND : - CONSOLIDATE

RESISTANCE : - 234, 230 SUPPORT STRATEGY : - 225, 220 : - SELL ON HIGHS

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BASE METAL

COPPER
OUTLOOK:
TREND : - CONSOLIDATE

RESISTANCE : - 382, 390 SUPPORT STRATEGY : - 374, 368 : - BUY ON DIPS

LEAD
OUTLOOK:
TREND : - CONSOLIDATE

RESISTANCE : - 111.50, 112.50 SUPPORT STRATEGY : - 109.50, 108 : - BUY ON DIPS

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ZINC
OUTLOOK:
TREND : - CONSOLIDATE

RESISTANCE : - 103.75, 104.50 SUPPORT STRATEGY : - 101.00, 99.60 : - BUY ON DIPS

ALUMINUM
OUTLOOK:
TREND : - CONSOLIDATE

RESISTANCE : - 103.00, 104.70 SUPPORT STRATEGY : - 100.50, 99.50 : - SELL ON HIGH

NICKEL
OUTLOOK:
TREND : - CONSOLIDATE

RESISTANCE : - 850, 865 SUPPORT STRATEGY : - 815, 805 : - BUY ON DIPS

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INTERNAIONAL MARKET

GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1444.30 23.29 3.1920 91.84 4.191 673.35 1437.50

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

54.2700 01.3050 99.4300 00.9454 01.5323 01.0237

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ECONOMIC CALANDER

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