COMMODITY
MARKET OUTLOOK
Gold prices rose as investors awaited the first-round of voting in
the presidential French election at the weekend and possible announcements
about tax changes in US.
Silver dropped as investors kept an eye on the upcoming French
presidential vote that is seen as too close to call.
Crude oil prices dropped on renewed concerns that increasing U.S.
production and high inventories will thwart OPEC's attempts to reduce the
global crude glut.
Copper dropped as worries over political instability and global
demand prompted investors to cut bets on higher prices.
Zinc dropped tracking LME prices closed 1.8 percent lower at
$2,584 as recent price gains have spurred miners around the world to increase
output.
Nickel dropped on profit booking tracking weakness in LME prices
dropped by 1.5 percent to $9,345 as a smaller Spices discount indicates tighter
supply.
Natural gas prices ended with losses as momentum-based traders
pile on to a recent losing skid tied to a weak time of year for demand.
COMMODITY MARKET
LEVELS:-
GOLD
P. POINT- 29,363
S1 -29,279 R1-29,503
S2 -29,139 R2-29,587
SILVER
P. POINT-41288
S1 - 41101
R1-41476
S2 - 40913
R2-41663
COPPER
P. POINT-363
S1- 360 R1-365
S2- 357 R2-368
NATURAL GAS
P. POINT-202
S1 -198 R1-204
S2 -195 R2-208
CRUDE OIL
P. POINT-3236
S1 -3168
R1-3277
S2 -3127
R2-3345
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