Latest Commodity Trading Tips and News

MCX SUPPORT & RESISTANCE LEVEL

GOLD JUNE FUTURE

R2–31412,

R1 -31110,

S1-30441,

S2-30112,

SILVER JULY FUTURE

R2 –46815,

R1- 46442,

S1-45151,

S2-44750,

CRUDE OIL JUNE FUTURE

R2 –3350,

R1-3301,

S1-3200,

S2-3150,

COPPER JUNE FUTURE

R2 –331,

R1-327,

S1-318,

S2-313.

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Precious Metals

Precious metals are flattish at the open but a rebound in global risk appetite continues to pressure prices. Demand last month was also weak as India’s gold imports in September are estimated at 30 tonnes, down 43% y/y. The focus will be on the all-important nonfarm payrolls data this week from the US for further cues.

Base Metals

Base metals are mostly flat and action could be subdued this week owing to a week long holiday in China. Nickel fell as investors took profits after the recent rally. The Philippines this week ordered the suspension of 20 mines for failing to meet environmental regulations.

Energy

Oil prices are lower today but positive sentiment continues from last week after the OPEC indicated that it could cut output.

INTERNATIONAL MARKET UPDATE

• GOLD $ 1312.95.
• SILVER $ 18.873,
• COPPER $324.90,
• CRUDE OIL $ 48.61,
• INR 66.526.