Daily Commodity Report by www.epicresearch.co 28st March 2013
Gold held steady above $1,600 an ounce on worries the Cyprus rescue deal could become a blueprint for solving banking crises in the euro zone, supporting the precious metal's safe-haven appeal.

Gold holds above $1,600 as Cyprus fallout supports.
Gold held steady above $1,600 an ounce on worries the Cyprus rescue deal could become a blueprint for solving banking crises in the euro zone, supporting the precious metal's safe-haven appeal. Gold is on track for a 1.6 percent gain in March, its first monthly gain in six, amid concerns about the financial stability of the euro zone stoked by the crisis in Cyprus, where hundreds of anxious depositors are expected to besiege banks when they finally reopen later in the day.
Copper falls on strong dollar, euro zone worries.
Copper fell due to a stronger dollar and concerns over the euro zone, while data was mixed out of the United States, the world's largest economy. A still modest level of copper buying in top consumer China as the market heads into the traditionally strong second quarter also held back the base metals complex as aluminium, lead and zinc touched their lowest levels in four months. Three-month copper on the London Metal Exchange closed 0.2 percent lower at $7,608 a tonne. Although copper has risen from seven-month lows below $7,500 hit last week, it has failed to gather much steam.
TRADING TIP:
 Buy Crude Oil Apr
Above 5270
TGTS-5300/5350
SL-5240
 Buy Zinc Mar
Above 102.80
TGTS 103.50/105
SL- 102.20
ANALYSIS
DAILY MCX GOLD CHART
OPEN: 29446
HIGH: 29647
LOW: 29411
CLOSE: 29632
* GOLD LOOKS SIDEWAYS
* TREND: CONSOLIDATE
* STRATEGY: SELL ON RISE
DAILY MCX SILVER CHART
OPEN: 53916
HIGH: 54149
LOW: 53250
CLOSE: 54062
* SILVER LOOKS SIDEWAYS
* TREND: CONSOLIDATE
* STRATEGY: SELL ON RISE
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