Gold MCX Trend
Gold is volatile today & can move both side. Investment demand for the yellow metal remained muted  yesterday as holdings at SPDR Gold ETF remained unchanged yesterday.

Today in the evening session of the trade we have U.S. Consumer Confidence data which is expected to improve and hence would support the financial markets and would also  support the Precious Metals Complex.

Silver updates
MCX Silver can be buy if it will cross the level of 57150 else silver may seen the level of 56650 today. COMEX  Silver  Mar  futures  also fell facing the cautious sentiment and they fell by 0.78  percent  to $33.527 per troy ounce from $33.790 per troy ounce the prior day. Investment demand for the white metal showed resumption to the tune of 98.25 tonnes yesterday at iShares Silver trust while the Gold/Silver ratio showed deviation as it increased to  51.63 from  51.28 the prior day.

Copper Updates
LME Copper  Feb futures fell by 1.16 percent yesterday to $8,420.75 per ton compared to prior  day while COMEX Copper Mar  futures also fell by 1.61 percent to $3.8265 per pound from $3.8890  per pound the prior day. What kept the metals complex down was the lingering worries regarding the Greece Swap deal, stronger  greenback and weak economic data coming from U.S. pressurized the complex.

The  world's largest copper producer Chile said its December copper output gained 2.2 per cent on the year to 509,407 metric tons. However, production for all of 2011 fell 3.2 per cent from the prior year to 5.25 million metric tons, the government statistics agency said Monday.  The agency cited inclement weather, labour strikes and falling ore grades, or the amount of copper contained in mined material, as the reason for the drop in 2011 production.

Weaker than expected U.S. GDP report prompted investors to park funds in the safe haven asset and we saw the Precious Metals Complex extending their advances on Friday after COMEX Gold Feb futures rose by 0.32 percent to $1,732.2 per troy ounce from $1,726.7 per troy ounce the prior day. Later in the night session after Fitch rating agency downgraded five Euro Zone member countries, the greenback recouped from its lows but still the Precious Metals held on to their gains. Investment demand for the yellow metal showed some strength after holdings at SPDR Gold ETF showed resumption of 10.0 tonnes on Friday.

A higher than expected rise in the Euro Zone sentiment data would support the Euro and Precious Metals while a fall in the U.S. spending compared to the analysts expectation would further support the Precious Metals Complex. Markets would also be eyeing the outcomes of the EU Summit and the Greek debt swap deal.

LME Copper Feb futures closed down by 0.77 percent to $8,519.25 per ton on Friday while COMEX Copper Mar futures also edged down by 0.32 percent to $3.8890 per pound from $3.9015 per pound the prior day. Weaker than expected U.S. GDP report coupled with no news coming from China regarding easing of monetary policies kept the outlook of this metal demand low and hence prices were scaling down. Markets are also eyeing the Greek debt deal and the outcome of the EU Summit in Brussels today where the leaders are to discuss the region’s debt crisis.

Today Gold Was very volatile & on uptrend, We expected gold will move 27870. Gold seems bullish from this level till dollar is is same phase. Gold can buy above the level of 27875, with SL of 27790. Spot gold prices rose around 0.5 percent on Thursday, taking cues from weakness in the US dollar, as a weaker dollar makes dollar denominated commodities look cheaper for the holders of the other currencies.

After a Strong level of 56990 silver again bounced back & sustain at 56830 & down. But here a good opportunity for buying in Silver above the level of 57110, if Silver breaks this level then it will go for 57400-500. Spot silver prices gained around 0.5 percent on Thursday, on the back of rise in gold prices coupled with a weaker dollar. Silver being an industrial metal also took cues from upside in base metals. The white metal touched an intra-day high of $33.78/oz and closed at the level of $33.43/oz on Thursday.

Copper trade on high & seems to good for buying phase. After good position at International market copper shows good levels in Indian Commodity, because of dollar fluctuation copper may go for the level of 432+.