Commodity market outlook
- By Advisorymandi |
- Mar 03, 2017
- Last Updated at 11:13 IST
Gold below $1240
Gold prices fell with Euro currency to new one week lows against the Dollar .US government bond prices fell yet again , pushing two year treasury yields up to the highest level. COMEX Gold is trading at $1233.35 up (0.04%)per ounce.
Oil prices subdued
Oil price falls to three week low as record US supply outweighs OPEC decision to cut the production.US inventories rose to 520.2 million barrels last week. As the Organization of Petroleum Exporting Countries and 11 other nations trim supply in an effort to end a glut, U.S. producers are ramping up and potentially offsetting the curbs.
|
Commodity |
CMP |
S1 |
S2 |
R1 |
R2
|
|
Gold- April |
29,177 |
29047 |
28917 |
29325 |
29470 |
|
Silver –May |
42,625 |
42485 |
42350 |
42790 |
42940 |
|
Crude-Mar |
3528 |
3498 |
3465 |
3570 |
3615 |
|
Copper-Apr |
397.15 |
394 |
299.50 |
403 |
408 |
|
Nickel-Mar |
727 |
724 |
719.50 |
733 |
739 |
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OPINION POLL
Will rupee test the new low of 70?
- Yes
- No
