Precious Metal::: On hourly chart, Gold futures are forming a Bullish Flag pattern, which is a trend following pattern and expected to give a breakout if it will trade above $1295.23 levels. On domestic upfront, MCX Gold is trading near its 52-week high level of 32003. More gains are expected to channelize in safe-heaven investor's pockets, once it will cross 32131 levels.
Base Metals:: : Underlying assets that are having a ball in commodity segment are base metals out of which Nickel has outperformed peers. Nickel is trading at 806.4, 2.3% above from its previous close. After forming a 'Bullish divergence' on daily scale, bulls are partying in the counter and likely to remain for coming trading sessions. Potential support is placed near 794 levels.