WEEKLY COMMODITY REPORT 31ST DECEMBER 2012

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 HEADLINES
Gold slightly up in dull trade, silver eases. Gold prices slightly edged up amid thin trading activity at the bullion market here today, while silver dropped on reduced speculative off-take. Standard gold (99.5

TRADING TIP:

purity) gained by a mere Rs 5 per 10 gm to close at Rs 30,440 from Thursday's closing level of Rs 30,435. Pure gold (99.9 purity) also rose by a similar margin to conclude at Rs 30,570 from Rs 30,565 yesterday. However, silver ready (.999 fineness) moved down by Rs 60 per kg to end at Rs 57,780 as against Rs 57,840 previously. Base metals outlook more optimistic after China steadies

Buy Silver Mar

Above 57800 TGTS-58100/58600 SL-57500

Buy Crude Jan Above 5000 TGTS-5100/5200 SL- 4900

The copper price is as good a guide as any to the progress of the mining sector. Its a relationship that has worked in the past and did again this year as well, with copper adding 5% over 12 months while the general UK mining sector was up by a similar amount until recently. Copper is used as the barometer due to its use in consumer products as well as in the construction industry, which makes it a good proxy for global growth.

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 MCX WEEKLY GOLD CHART

ANALYSIS
OPEN: 30865 HIGH: 30925 LOW: 30618 CLOSE: 30697

GOLD LOOKS UPWARD TREND: BULLISH STRATEGY: BUY ON DIPS

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MCX WEEKLY SILVER CHART

ANALYSIS
OPEN: 58149 HIGH: 58444 LOW: 58227 CLOSE: 57660

SILVER LOOKS UPWARD TREND: BULLISH STRATEGY: BUY ON DIPS

 MCX WEEKLY COPPER CHART

ANALYSIS
OPEN: 438.85 HIGH: 441.90 LOW: 435.10 CLOSE: 439.35

COPPER LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE

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 MCX WEEKLY CRUDE OIL CHART

ANALYSIS
OPEN: 4917 HIGH: 5040 LOW: 4877 CLOSE: 4996

CRUDE OIL LOOKS UPWARD TREND: BULLISH STRATEGY: BUY ON DIPS

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 COMEX WEEKLY SILVER CHART

ANALYSIS
OPEN: 29.92 HIGH: 30.47 LOW: 29.67 CLOSE: 30.03

COMEX SILVER LOOKS UPWARD TREND: BULLISH STRATEGY: BUY ON DIPS

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COMEX WEEKLY GOLD CHART

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ANALYSIS
OPEN: 1657.50 HIGH: 1667.86 LOW: 1649.98 CLOSE: 1657.19

COMEX GOLD LOOKS UPWARD TREND: BULLISH STRATEGY: BUY ON DIPS

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