Gold:- Spot gold prices traded negative last week on combination of falling crude oil prices and strength in the dollar. Continued outflows from the ETF ’s further exacerbated the fall in gold prices. Higher U.S. quits rate and new jobless claims remaining near a 14-year low suggest the U.S. job market is moving toward full health, undermining gold's appeal as a hedge against economic uncertainty.
Silver:- Spot silver prices in the international markets gained by 3.44 percent and closed at $16.26/oz. On the MCX, silver prices gained by 3.55 percent taking cues from international markets and closed at Rs.36000/kg.
Copper:- MCX Nov Copper futures have resumed its privileged bearish trend breakout through the “descending triangle” chart pattern in intraday charts. Now the bias remains weak and further decline is expecting towards 406 & 403 levels. However, any rise can be limited at 412.90 and bring some selling pressure from the same.
Natural Gas:- Natural Gas futures surged 6% on D-o-D basis and ended in a strong buying zone. Now the view remains positive and further rally is likely to be favor towards 72.8% Fibonacci level of 269.40 levels. However, downside support lies at 256.50 levels.
Jeera:- Jeera prices traded initially higher, making a high of 12430 and later closed the day at 12215. As prices holds the support of 11980 could see pullbacks to higher regions.
Soybeans:- Soybean futures traded on a positive note almost 1.58% on account of increasing demand in soyameal in the physical market. The daily arrival recorded around 5.5 to 6 lakh bags.
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Silver:- Spot silver prices in the international markets gained by 3.44 percent and closed at $16.26/oz. On the MCX, silver prices gained by 3.55 percent taking cues from international markets and closed at Rs.36000/kg.
Copper:- MCX Nov Copper futures have resumed its privileged bearish trend breakout through the “descending triangle” chart pattern in intraday charts. Now the bias remains weak and further decline is expecting towards 406 & 403 levels. However, any rise can be limited at 412.90 and bring some selling pressure from the same.
Natural Gas:- Natural Gas futures surged 6% on D-o-D basis and ended in a strong buying zone. Now the view remains positive and further rally is likely to be favor towards 72.8% Fibonacci level of 269.40 levels. However, downside support lies at 256.50 levels.
Jeera:- Jeera prices traded initially higher, making a high of 12430 and later closed the day at 12215. As prices holds the support of 11980 could see pullbacks to higher regions.
Soybeans:- Soybean futures traded on a positive note almost 1.58% on account of increasing demand in soyameal in the physical market. The daily arrival recorded around 5.5 to 6 lakh bags.
Get free trading in equity tips, free equity tips, stock tips, stock cash tips, stock futures tips, commodity tips, nifty tips, nifty futures, mcx tips, ncdex tips, and share market tips etc.
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