ICHALAKARANJI, India -- COMMODITY WRAPUP

GOLD

The GOLD rates on yesterday touched an intraday high of Rs 28578 and an intraday low of Rs 28075. 17171 contracts had

been traded. Gold Price was taking support at 28230 and traded in sideways range all day. In evening session Gold price

broke the nearest support of 28290 and made low of 28075.

BUY GOLD ABOVE 28490 TGTS 28570/28670 SL 28380

SELL GOLD BELOW 28380 TGTS 28300/28200 SL 28480

SILVER

The SILVER rate touched an intraday high of Rs 44588 and an intraday low of Rs 42435. 39871 contracts had been traded. Silver

opened at morning with gap down and made day high. In mid session silver trade in narrow range and made night low 42435 . After

evening there had been seen more selling pressure in silver and it will helpful to break the nearest support 43900.

BUY SILVER ABOVE 44250 TGTS 44450/44750 SL 43880

SELL SILVER BELOW 43700 TGTS 43500/43200 SL 44100

SPECIAL NEWS

Chinese manufacturing grew further in December but at a slightly slower pace than in the previous month.

The manufacturing Purchasing Managers' Index com- piled by HSBC and Markit eased to 50.5, unchanged from the initial flash reading released earlier last month, but lower than the final November print of 50.8. Still, the result remained above the 50 level, which separates growth from contraction. Among the

report's sub-indexes, the indicator for new export or- ders registered its first decline since August, while

those for output and overall new orders showed growth but at a weaker pace. The report came one day after China's government-sponsored version of the manufac- turing PMI showed a slowdown in the sector, with the official headline index falling to 51.0 from November's

51.4.

Central revenue deficit target for the entire 2013-14 has been breached in only eight months of the year,

clearly showing fiscal strain in the economy. Besides, the fiscal deficit reached close to 94 per cent of the pro- jections made in the Budget for 2013-14.

COMMODITY BUZZ

MCX Copper remained dull in the evening trades due to lack of interest for trading in International markets. LME Copper ended 2013 with losses of 6.4%, to $ 7370 per tonne. The prices managed to shred some losses in the latter half of the year due to falling in- ventories. China remained the major contributor for this rise. The total reported production in China was 1.954 million tonnes in October 2013, indicating a

46% share in the world primary production. Unre- ported production in China is estimated around

200000 tonnes.. On MCX, Copper was trading at Rs 469.65 per kg, up 0.23%. The prices tested a high of Rs 471.6 per kg, and a low of Rs 469.25 per kg. Alu- minium was trading at Rs 110.45 per kg, up 0.32%.

India's eight core industries grew in November, after a decline in the previous month, official data showed.

The eight core industries' output rose 1.7% year-on- year, following a 0.6% fall in October. It was the

smallest infrastructure output growth since June. The eight core industries include coal, crude oil, natural

gas, petroleum refining, fertilizers, steel, cement and electricity.

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