DAILY COMMODITY REPORT BY EPIC RESEARCH- 5 DECEMBER 2012
DAILY COMMODITY REPORT 5TH DECEMBER 2012WWW.EPICRESEARCH.CO +91 9752199966
HEADLINES Gold may lose its glitter further as dollar dips Gold is likely to continue losing glitter in the domestic market on Wednesday as the dollar slipped in early trade and the yellow metal rules below the $ 1,700-an- ounce mark. Data from the US showed that is factory output dropped to a three-year low, while a solution TRADING TIP: still eludes its fiscal crisis. The euro, on the other hand,Buy Zinc Dec was firm at a seven-week high against the greenback. Asian currencies, including the Australian dollar, madeBelow 110 headway in early Asian trade, putting all-round pressure on the US currency. This could see the rupeeTGTS-109.30/108.40 adding to its Tuesday’s gains. Any rise in the value ofSL-110.70 rupee makes gold imports cheaper as India depends on purchases from abroad to meet its demand. Copper stays higher. Copper edged higher, touching another six-week highSell Gold Feb on optimism that top copper consumer China is on theBelow 31550 road to recovery, but concern over US economic and fiscal issues kept gains in check. Benchmark copper onTGTS-31500/31420 the London Metal Exchange touched an intraday peak of $8,068.50, the strongest since October 19 and the SL-31593 fourth successive day of gains. Copper did not trade at the close, but was bid at $8,030, up $25.WWW.EPICRESEARCH.CO +91 9752199966
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