Daily Commodity Report by www.epicresearch.co -- 15th March 2013

Gold edged up, paring earlier gains, as a 10-day rally in U.S. equities benchmark the Dow Jones industrial average and data showing an improving U.S. labor market recovery dented safe-haven buying.

indore, India (prHWY.com) March 15, 2013 - HEADLINE

Gold rise limited by Wall St rally, economic hope.
Gold edged up, paring earlier gains, as a 10-day rally in U.S. equities benchmark the Dow Jones industrial average and data showing an improving U.S. labor market recovery dented safe-haven buying. The metal's gains were capped by fresh signs of strength in the U.S. labor market as the number of filings for new unemployment benefits fell for a third week in a row. Investors are now more concerned about equities' performance and are not buying defensive assets such as gold as they don't see any risks," said Den Denbow, portfolio manager of the $1.4 billion USAA Precious Metals and Minerals Fund Gold has failed to break above the $1,600 mark after several attempts this week as the Wall Street rally sapped bullion demand.
Oil, copper, grains up as U.S. jobs data boosts demand outlook.
Most commodities rose on , as stronger U.S. labor market data encouraged investors about the outlook for demand for raw materials in the world's largest economy. U.S. oil futures and London's benchmark Brent crude oil prices settled higher, Brent's first rise after four sessions of declines. Wheat, corn and copper also firmed after U.S. data showed the number of Americans filing new claims for unemployment benefits declined for a third straight week.
TRADING TIP:
 Sell Zinc Mar
Below 105.90
TGTS-105/104
SL-106.50
 Sell Gold Apr
Below 29330
TGTS 29250/29100
SL- 29380
ANALYSIS
DAILY MCX GOLD CHART
OPEN: 29470
HIGH: 29505
LOW: 29260
CLOSE: 29389

* GOLD LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE
DAILY MCX SILVER CHART
OPEN: 54702
HIGH: 54702
LOW: 54084
CLOSE: 54289
* SILVER LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE

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