Daily Commodity Report by www.epicresearch.co -- 22th January 2013

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indore, India (prHWY.com) January 22, 2013 - HEADLINE
* India Increases Import Tax on Gold.
India increased the import tax on gold for a second time in 10 months in an effort to cut demand for the yellow metal, one of the biggest contributors to the country's large current-account deficit. The government increased the import tax to 6% from 4% with immediate effect. It also made a similar change in the import tax of platinum, which is considered by many as an alternative to gold for investment and for making jewelry.
* Copper Rises on Greek Aid Approval Before BOJ Policy Outcomes.
Copper gained in London as European finance ministers approved the next disbursement of aid for
Greece and ahead of a policy meeting outcome from Japan. Aluminum, zinc, lead and nickel also advanced.Copper for delivery in three months climbed as much as 0.7 percent to $8,110 a metric ton on the London Metal Exchange, before trading at $8,107 at 10:41 a.m. Shanghai time. Futures for delivery in April on the Shanghai Futures Exchange added 0.6 percent to 58,520 yuan ($9,398) a ton.
TRADING TIP:
Sell Zinc Jan
Below 108.40
TGTS-107.80/106.80
SL-109.00
* Sell Crude Oil Feb
* Below 4990
* TGTS-4960/4920
* SL- 5020
ANALYSIS
DAILY MCX GOLD CHART
OPEN: 30599
HIGH: 30847
LOW: 30570
CLOSE: 30757
* GOLD LOOKS SIDEWAYS
* TREND: CONSOLIDATE
* STRATEGY: BUY ON DIPS
DAILY MCX SILVER CHART

OPEN: 59460
HIGH: 59649
LOW: 59322
CLOSE: 59432
* SILVER LOOKS SIDEWAYS
* TREND: CONSOLIDATE
* STRATEGY: BUY ON DIPS


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