Daily Commodity Report by www.epicresearch.co 20th March 2013

Gold is set to gain further in the domestic spot and futures markets as Cyrpus Parliament struck down a proposal to tax bank account holders.

indore, India (prHWY.com) March 20, 2013 - HEADLINE

Gold set to glitter as Cyprus Parliament rejects bailout package.
Gold is set to gain further in the domestic spot and futures markets as Cyrpus Parliament struck down a proposal to tax bank account holders. The turning down of the proposal has given rise to fears of a payment default by the tiny European nation, thus forcing investors to shift to haven instruments such as gold. A meeting of the US Fed is also keeping the market interested since it could take into account the brewing crisis in Cyprus..
Copper hits 4-month low on Cyprus concerns, demand.
Copper fell to a four-month low as the dollar rose and the euro and equities sank on investor nervousness about a potential banking collapse in Cyprus. A lack of demand for copper by buyers in top commodities consumer China is also worrying investors, especially since prices are not far off their lowest for the year..
TRADING TIP:
 Sell Zinc Mar
Below 103
TGTS-102.30/101.40
SL-103.50
 Buy Crude Oil Apr
Above 5085
TGTS 6010/6040
SL- 5050
ANALYSIS
DAILY MCX GOLD CHART
OPEN: 29511
HIGH: 29889
LOW: 29481
CLOSE: 29871
* GOLD LOOKS SIDEWAYS
* TREND: CONSOLIDATE
* STRATEGY: BUY ON DIPS
DAILY MCX SILVER CHART
OPEN: 54297
HIGH: 54810
LOW: 54201
CLOSE: 54707
* SILVER LOOKS SIDEWAYS
* TREND: CONSOLIDATE
* STRATEGY: BUY ON DIPS

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