Daily Commodity Report by www.epicresearch.co -- 29th January 2013

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Indore, IN (prHWY.com) January 29, 2013 - HEADLINE
Gold near 2-1/2-week low as safe-haven appeal dims
Gold edged up but did not drift too far from a 2-1/2week low hit in the previous session as promising U.S economic data fuelled optimism about an economic recovery, driving investors away from safe-haven asset such as bullion. Spot gold edged up 0.2 percent to$1,656.91 an ounce, It fell to $1,651.93, its lowest since Jan. 9. U.S. gold also rose 0.2 percent, to $1,656.20Rating agency Fitch scaled back the chance it will strip the United States of its AAA status, saying a recent deacon the country's debt limit removed the near term risk of a cut, but warned that the danger to the U.S. rating is not over yet.
Copper up after U.S. data, supply outlook weighs.
Copper edged higher on after better-than-expected U.S.durable goods data lifted confidence about growth and demand in the world's largest economy, but uneasiness about the growth of supply kept prices in check.
TRADING TIP:
Sell Zinc Jan

* Below 111.50
* TGTS-110.70/109.70
* SL-112

Sell Silver Mar

* Below 57700
* TGTS-57500/57300
* SL- 57850
ANALYSIS
DAILY MCX GOLD CHART
OPEN: 30337
HIGH: 30427
LOW: 30278
CLOSE: 30338
* GOLD LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE
DAILY MCX SILVER CHART
OPEN: 58151

HIGH: 58454

LOW: 57677

CLOSE: 57762

* SILVER LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE


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