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Gold prices started the week on positive note. Spot Gold prices ended the Monday’s session at USD1422.95. Ongoing economic crises in Euro zone supported the gold prices. Appreciating INR exerted pressure to the gold prices and on MCX benchmark Gold Feb future ended with marginal decline on Monday. Today Gold Feb future is trading with positive bias with the gain of around half percent. Hold long position in gold Feb contract with stop loss of ` 20840. Hold long positionin Silver with stop loss of `45250.Resistance Zone:20950 Support Area : 20680
Base metals ended on a mixed note on Monday. Strong dollar exerted pressure to the base metal prices. Except IBD/TIPP economic optimism, there is no other major data to be released from the US today. Today Base metals are trading with positive bias. Copper Feb future is trading with the gain of around one percent. Hold long position in Copper Feb with stop loss of `404. Hold long position in Zinc Dec with stop lossof `102.Resistance Zone: 410 Support Area: 395 On NYMEX Crude oil closed at USD 89.38 per barrel. Coldertemperature in the European region increased the demand of crude oil prices. Gains in black gold prices were capped by strengthening dollar index. On MCX Crude oil ended the session at `4000 with the shed of around one percent. Appreciatingrupee exerted pressure to the crude oil prices. Today Crude oil Dec future is trading with positive bias. Hold long position in Dec future with stop loss of `4020. Hold long position in Natural gaswith stop loss of `202.Resistance Zone:4050 Support Area: 3960 TREND TODAY COMMODITY EXPIRY CMP (AROUND5:00PM) TREND ALUMINIUM DEC10 105 UP COPPER FEB10 406.50 UP CRUDE DEC10 4045 UP GOLD FEB10 20880 UP LEAD DEC10 107.90 UP NATURAL GAS DEC10 203.70 UP NICKEL DEC10 1077 SIDEWAYS SILVER DEC10 45380 UP ZINC DEC10 102.70 UP LME Inventory Data COMMODITY 06Dec 07Dec Change ALUMINIUM 4291725 4287225 4500COPPER 352375 351375 1000LEAD 203950 203550 400NICKEL 131178 131412 234ZINC 633450 632825 625COUNTRY INDICATOR TIME(IST) FORECAST PREVIOUS US IBD/TIPP Economic Optimism 8:30PM 48.3 46.7
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