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Epic Research Daily Commodity Report 12th Jan 2017



COMMODITY HEADLINES

? Zinc futures climb on spot demand global cues
? White metal little changed on safe-haven demand
? Copper futures in reverse gear
? Gold glitters on safe-haven demand
? Crude oil futures in reverse gear
? Aluminium futures little changed on muted physical demand

TODAY'S Recommendations

BUY GOLD AROUND 28150-28200 TARGET 28350 28500 SL 28000
SELL GOLD BELOW 28000 TARGET 27900 27600 SL 28100

BUY SILVER 40550-40600 TARGET 40850 41300 SL 40300
SELL SILVER 41300-41400 TARGET 41000 40600 SL 41600

SPECIAL NEWS

China's economy has been generally stable at the start of 2017, continuing its "steadying and good" momentum from the second half of 2016, China's head of economic planning said on Thursday.Xu Shaoshi, head of the National Development and Reform Commission, said in a statement on the commission's website that China's economy still faces a "complex and severe" environment internally and externally.

An ex-portfolio manager at Visium Asset Management LP corruptly sought to boost the value of one of its hedge fund's holdings, defrauding investors while enabling the investment firm to earn millions of dollars, a U.S. prosecutor told jurors on Wednesday.

Stefan Lumiere, the former brother-in-law of Visium founder Jacob Gottlieb, violated the trust of investors through "fraud and lies," Assistant U.S. Attorney Damian Williams told jurors at the start of a trial in federal court in Manhattan.

COMMODITY BUZZ

Oil prices dipped on Thursday on the back of rising U.S. crude inventories and plentiful supplies, despite emerging output cuts from OPEC and other producers.

Prices for Brent crude futures (LCOc1), the international benchmark for oil prices, were at $55.06 a barrel, down 4 cents.Traders said that a crude oil inventory report published by the U.S. Energy Information Administration late on Wednesday implied ongoing oversupply as inventories unexpectedly rose by 4.1 million barrels to 483.11 million barrel.

Gold prices eased in Asia on Thursday as the dollar recovered a bit from a sell-off after President-elect Donald Trump held a freewheeling press conference overnight that was slim on details of economic policies.

Gold for February delivery on the Comex division of the New York Mercantile Exchange eased 0.07% to $1,195.75 a troy ounce, while copper futures rose 0.50% to $2.613 a pound. The U.S. dollar index was nearly flat at 101.69 after dropping to about 101.46 overnight, offering support for the precious metal which is priced in greenbacks. A weaker dollar benefits key gold buyers such as China and India .

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News Release: Epic Research Daily Commodity Report 12th Jan 2017
Submitted on: January 12, 2017 04:27:57 AM
Submitted by: EpicResearch
On behalf of: www.epicresearch.co/commodity-tips
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