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MTECHTIPS

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MTECHTIPS COMMODITY MARKET NEWS 1 MTECHTIPS:-GLOBAL HAPPENINGS Inflation in India fell to a 3 year low to 4.89, which is well within the comfort zone of the RBI thereby fuelling market hopes for more monetary easing to revive flagging economic growth. Industrial Production in the Euro Zone surged to 1.0 percent which is higher than forecast, thereby offering a grain of hope that the economy may have grown between January and March. A stronger than expected performance by the bloc’s factories and energy facilities could have nudged the economy back on track. MTECHTIPS:-GOLD Gold inched up early Wednesday to snap four sessions of decline as the U.S. dollar eased and selling by exchange-traded funds halted, but strong share prices looked set to cap gains. Holdings of the largest gold-backed exchange-traded-fund (ETF), NewYork's SPDR Gold Trust. Portugal will not replicate a deal that allowed Cyprus to sell its gold reserves under its bailout, its central bank said on Tuesday. Outlook: With a number of economic announcements today around the globe, the prices are likely to take cue from these. Also news from Europe that platinum marketing has paid off is likely to weaken gold. MTECHTIPS:-SILVER Silver prices were down again early Wednesday as the metal family remained worrisome to traders after a lackluster print from China and a mix of CPI sentiment did not support the Euro Zonerecovery. The low volatility suggests a breakout soon, and until then a negative bias exists. Outlook : silver production in mines in the US were up 17percent YoY in February. With demand still low it is unlikely that the prices will make any headway today either. MTECHTIPS:-CRUDEOIL U.S. crude futures held steady above $94 a barrel in early Asian trade on Wednesday, snapping the longest losing streak since early-December on rising supplies amid slowing demand growth. Rising U.S. shale oil production will help meet most of the world's new oil demand in the next five years, even if the global eco

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