Commodity Market Outlook
Gold prices are expected to trade lower today
although markets keenly await the outcome of the monetary policy meeting of the
US Federal Reserve scheduled on 20-21st September. Uncertainty will keep
investors on toes hence; volatility is expected in the coming sessions.
Comments from Venezuela about stabilising oil
markets and clashes in Libya are push factors for oil prices to rise higher on
intraday basis.
Copper prices will likely be under pressure
today as investors will avoid commodities ahead of crucial FOMC statement due
Wednesday.
News & Analysis
Investors keenly await FOMC statement due
Wednesday
Tehran lends its support to stabilize the
global oil market
LME Copper stocks rose 0.2 percent on Friday.
MCX Market Tips by Tradeindia Research which
is best advisory company of indore here we presents support and resistance
level of mcx commodity.
MCX SUPPORT
& RESISTANCE LEVEL
GOLD JUNE
FUTURE
R2–31212,
R1 -31010,
S1-30650,
S2-30450,
SILVER JULY
FUTURE
R2 –46110,
R1- 45782,
S1-45101,
S2-44790,
CRUDE OIL JUNE
FUTURE
R2 –3000,
R1-3054.
S1-2800,
S2-2760,
COPPER JUNE
FUTURE
R2 –334,
R1-328,
S1-320,
S2-313.
INTERNATIONAL
MARKET UPDATE
GOLD $
1318.95
SILVER $
19.307,
COPPER
$322.90,
CRUDE OIL $
43.64,
INR 67.043.
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