COMMODITY MARKET OUTLOOK
Gold prices dropped as a possible U.S. rate
hike as early as next week weighed on prices.
Base Metal Silver prices slid lower as
expectations for an upcoming interest rate increase by the Federal Reserve
continued to weigh on the precious metal.
Crude oil dropped as crude output rose in
virtually every major export region despite plans by OPEC and Russia to cut
production.
Copper dropped as investors cashed in gains
after the previous session's sharp rally.
Zinc gained on speculation that demand will
accelerate amid improving growth in the U.S.
Nickel dropped on profit booking after
prices seen supported on concern that the Philippines will suspend more mines
Spices after a national mining audit.
Natural gas prices retreated as recent
higher prices and heavy stockpiles encouraged traders to cash out of a recent
rally.
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mcx tips |
Commodity
Market update:-
GOLD
PP-27897
R1- 27984 S1-27739
R2- 28142 S2-27652
SILVER
PP-41139
R1- 41305 S1-40857
R2- 41587 S2-40691
CRUDE OIL
PP-3460
R1- 3509 S1-3390
R2- 3579 S2-3341
NATURAL GAS
PP-248.0
R1- 252.9 S1-242.8
R2- 258.1 S2-237.9
COPPER
PP-401.6
R1- 404.8 S1-397.8
R2- 418.6 S2-394.6
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