Commodity market outlook
- By Advisorymandi |
- Mar 08, 2017
- Last Updated at 11:18 IST
Gold prices consolidated
Precious Metal was weaker in US trade yesterday, flat in morning Asia Market. Prospects for a US rate rise weighing on prices and further weakness cannot be ruled out in the run up to the US Federal Open Market Committee meeting next week. COMEX Gold is trading at $1217 up (0.13%) per ounce.
Oil prices slips down
Oil Prices mostly oscillating between 2-3 dollar range .As investors and traders are waiting for some news to break the consolidation for the commodity.US increased stock piles are continuously offsetting the reduction in global output although. Signals of slowdown in China’s economy as it possibly cut the growth targets also affecting the prices.
|
Commodity |
CMP |
S1 |
S2 |
R1 |
R2
|
|
Gold- April |
28,752 |
28625 |
28510 |
28900 |
29040 |
|
Silver –May |
41,909 |
41774 |
41630 |
42074 |
42320 |
|
Crude-Mar |
3528 |
3495 |
3465 |
3568 |
3605 |
|
Copper-Apr |
388 |
385 |
380 |
393 |
397 |
|
Nickel-Mar |
711.30 |
706 |
700.50 |
717 |
722 |
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OPINION POLL
Will Gold sustain above Rs. 34,000 till expiry?
- Yes
- No
