INDORE, India -- COMMODITY WRAPUP

GOLD

BUY GOLD ABOVE 28900 TGTS 28980/29080 SL 28780

SELL GOLD BELOW 28690 TGTS 28610/28510 SL 28800

SILVER

BUY SILVER ABOVE 44500 TGTS 44700/4500 SL 44100

SELL SILVER BELOW 43650 TGTS 43450/43150 SL 44050

SPECIAL NEWS

China's consumer-price inflation slowed in December, while deflation for wholesale prices held steady. The

consumer price index rose 2.5% from a year earlier, slowing from a 3% gain in November, while prices

were 0.3% higher versus the previous month, swinging from a 0.1% drop. The producer price index, mean- while, fell 1.4% on an annual basis.

Australian retail sales rose by more than expected in November led by cafes, restaurants and takeaway-food stores, a further sign that record-low interest rates are fueling consumer spending. Retail sales rose 0.7% from a month earlier.

In the United States, the non-manufacturing index reg- istered 53 percent in December, 0.9 percentage point lower than November's reading of 53.9 percent. This indicates continued growth at a slightly slower rate in the non-manufacturing sector, according to the data released by the Institute for Supply Management on Monday.

COMMODITY BUZZ

Volume for Copper increased as the prices declined. The volume of Copper was at 23206 kgs against an average of 16000 kg s on last month. COMEX Copper was last checked at $ 3.36 per pound, down $ 0.07 per pound. the world's largest bullion consumer, A record high import duty on gold. It is expected to be reduced and soften export rules. Import restrictions imposed by the government sup- ported to narrow country's trade deficit and now restric- tion have started to encourage smuggling.

Gold imports in the current financial year could be lower by 40% at 515 tonnes against 846 tonnes a year ago. This will be the lowest in 10 years. In Dec. imports are expected at 20 tonnes. While this will help curtail the current ac- count deficit, it is a bad piece of news for jewellers who have to buy gold at huge premiums or smuggle it.

The American Petroleum Institute (API) stated that that a 7.3 million-barrel decline was noted in US in crude sup- plies for the week ended January 3. API also reported that gasoline stockpiles rose 5.6 million barrels, while distillate supplies added 5.2 million barrels.

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