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MCX NEWSLETTER- DAILY 25th APRIL’2013

Daily MCX Newsletter 25th April’2013

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MARKET WRAP

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MARKET NEWS

Spot gold fell USD 2.14 an ounce to

Asian shares edged higher on

USD 1,428.66 by 0045 GMT. Gold sank

Thursday, supported by views that

a combined USD 225 on April 12 and

the recent run of weak global

15 in a sell-off that surprised ardent

economic data will encourage major

gold investors and bulls.

central banks to keep or deepen

US gold was at USD 1,428.10 an ounce, up USD 4.40. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.38 percent to 1092.98 tonnes on Wednesday from 1097.19 tonnes on Tuesday. The current holdings are at multi-year lows. Barrick Gold Corp, making a painful adjustment to a sustained slump in bullion prices, reported progress in controlling costs on Wednesday and said it planned further cuts in capital spending, sending its shares higher.

their monetary stimulus to bolster growth.

US crude futures extended gains for

Gold inched lower on Thursday, hovering below a 1-week high hit earlier this week, as firm equities sapped interest in the precious metal, which has seen steady outflows on exchange-traded funds. Gild shrugged off news the Russian Federation raised its gold reserve for a fifth straight month in March and Turkey added to its holdings for a fourth month.

a sixth day on Thursday after rising 2.5 percent a day earlier, supported by a big drop in US gasoline inventories and speculation that a glut of crude at the Cushing, Oklahoma hub could soon ease.

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Billionaire investor John Paulson told investors on Wednesday he is staying the course on gold even though there may be more short-term volatility in the price of the metal.


TECHNICAL VIEW

BULLION

GOLD OUTLOOK: TREND

: - CONSOLIDATE

RESISTANCE : - 26550, 26800 SUPPORT

: - 25700, 25250

STRATEGY

: - BUY ON DIPS

SILVER OUTLOOK: TREND

: - CONSOLIDATE

RESISTANCE : - 43500, 44200

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SUPPORT

: - 43750, 42800

STRATEGY

: - BUY ON DIPS


ENERGY

CRUDEOIL OUTLOOK: TREND

: - CONSOLIDATE

RESISTANCE : - 5000, 5050 SUPPORT

: - 4920, 4850

STRATEGY

: - BUY ON DIPS

NATURAL GAS OUTLOOK: TREND

: - CONSOLIDATE

RESISTANCE : - 234, 230

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SUPPORT

: - 225, 220

STRATEGY

: - SELL ON HIGHS


BASE METAL

COPPER OUTLOOK: TREND

: - CONSOLIDATE

RESISTANCE : - 382, 390 SUPPORT

: - 374, 368

STRATEGY

: - BUY ON DIPS

LEAD OUTLOOK: TREND

: - CONSOLIDATE

RESISTANCE : - 111.50, 112.50

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SUPPORT

: - 109.50, 108

STRATEGY

: - BUY ON DIPS


ZINC OUTLOOK: TREND

: - CONSOLIDATE

RESISTANCE : - 103.75, 104.50 SUPPORT

: - 101.00, 99.60

STRATEGY

: - BUY ON DIPS

ALUMINUM OUTLOOK: TREND

: - CONSOLIDATE

RESISTANCE : - 103.00, 104.70 SUPPORT

: - 100.50, 99.50

STRATEGY

: - SELL ON HIGH

NICKEL OUTLOOK: TREND

: - CONSOLIDATE

RESISTANCE : - 850, 865

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SUPPORT

: - 815, 805

STRATEGY

: - BUY ON DIPS


INTERNAIONAL MARKET

GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1444.30 23.29 3.1920 91.84 4.191 673.35 1437.50

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USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

54.2700 01.3050 99.4300 00.9454 01.5323 01.0237


ECONOMIC CALANDER

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Mcx Market Analysis for 25 April