WEEKLY COMMODITY REPORT 4TH MARCH 2013

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 HEADLINES
Gold prices firm on Asia buying, upbeat US data weighs. Gold firmed on bouncing from a one-week low hit, supported by physical buying in Asia, but robust U.S. economic data dented bullion's safe-haven appeal. Automatic spending cuts that kicked off in the United States, pushing spot gold to its lowest level in more than a week, also continued to weigh. The broad theme might be gold-negative, because the pending cuts are probably taking away a bit of the froth on the idea that policymakers are spending out of control and they will keep doing so until the recovery takes hold," said a Hong Kong-based trader. Copper slides to two-month low on global economy concerns

TRADING TIP:

Sell Silver May

Around 54900 TGTS-54500/54000 SL-55200

Sell Crude Oil Mar Below 4990 TGTS-4950/4900 SL-5030

Copper slipped on to its lowest level in two months and showed its biggest weekly loss in 14 months on concerns about the global economy and the demand for industrial metals. Three-month copper on the London Metal Exchange closed at $7,805 a tonne, down from $7,860 at the close on Thursday. It earlier fell to its lowest level since Dec. 21, at $7,796.

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 MCX WEEKLY GOLD CHART

ANALYSIS
OPEN: 29579 HIGH: 30139 LOW: 29455 CLOSE: 29740

GOLD LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE

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MCX WEEKLY SILVER CHART

ANALYSIS
OPEN: 53750 HIGH: 54739 LOW: 52621 CLOSE: 53867

SILVER LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE

 MCX WEEKLY COPPER CHART

ANALYSIS
OPEN: 423.10 HIGH: 431.40 LOW: 417.75 CLOSE: 431.10

COPPER LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE

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 MCX WEEKLY CRUDE OIL CHART

ANALYSIS
OPEN: 5065 HIGH: 5104 LOW: 4986 CLOSE: 5017

CRUDE OIL LOOKS SIDEWAYS TREND: CONSOLIDATE STRATEGY: SELL ON RISE

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 COMEX WEEKLY SILVER CHART

ANALYSIS
OPEN: 28.72 HIGH: 29.44 LOW: 27.92 CLOSE: 28.55

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

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 COMEX WEEKLY GOLD CHART

ANALYSIS
OPEN: 1581.05 HIGH: 1619.79 LOW: 1564.62 CLOSE: 1575.42

COMEX GOLD LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE

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