COMMODITY
MARKET OUTLOOK
·
Gold pared
gains from a five-month high on Monday, losing steam as U.S. Treasury yields
turned higher and the dollar came off its lows, after rising geopolitical
tensions over North Korea spurred earlier safe-haven buying in bullion.
·
Silver
turned down 0.4 percent to $18.445 an ounce after touching a five-month high of
$18.649.
·
Crude oil
prices slipped 1 percent on Monday in subdued trading after a long Easter
holiday weekend, on news of rising U.S. shale production and profit-taking
following three straight weeks of gains.
·
Shanghai
aluminium soared to nearly a four-year high on Monday after fresh capacity cuts
in top producer China, while the country's robust first-quarter growth
underpinned its demand outlook for most metals. Three new aluminium projects
with a capacity of 2 million tonnes have been halted in Xinjiang in western
China for violating rules aimed at curbing capacity, state-owned China
Securities Times reported on Sunday
·
We expect
Natural gas prices to trade positive on the back of short covering after drop
in prices.
COMMODITY MARKET
LEVELS:-
GOLD
P. POINT- 29,340
S1 -29,300 R1-29,500
S2 -29,200 R2-29,600
SILVER
P. POINT-42497
S1 - 42200
R1-42700
S2 - 41900
R2-43000
COPPER
P. POINT-370
S1- 368 R1-370
S2- 366 R2-372
NATURAL GAS
P. POINT-205
S1 -203 R1-207
S2 -201 R2-209
CRUDE OIL
P. POINT-3399
S1 -3370
R1-3430
S2 -3340
R2-3460
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