Market Updates

Energy commodities are showing positive trend today. While, natural gas is at a rally position since yesterday on the back of news of tropical storm hitting natural gas hubs of Oklahoma and the Gulf Coast, crude oil is seen to be rising due to weak dollar today. Traders are recommended to maintain a stop loss (SL) of INR 3,770 per barrel while trading in crude oil in the short-term. It is predicted that if crude oil goes below INR 3,840 a barrel and maintains the same level for some time, the commodity may again see a downtrend. With regards to lead, for intraday, it is recommended to buy the product with a SL of INR 115.70 per kg. Copper has shown some spike in the morning session. If this base metal crosses and maintains the level of over INR 379 per kg, the metal may show a good up-trend. Bullion is seen to be weak today, and a clear picture will evolve post the Fed meeting on interest rate hike on Wednesday.

Posted On: 01:31 PM Jun 16

The commodity market is showing downward trend today. In the bullion market, Greece debt crisis and the possible interest announcement of rate hike by US Fed this week are impacting the gold and silver prices, which are witnessing steady decline. While, gold needs to cross the level of INR 27,000 per 10 grams for showing a good uptrend, silver may remain weak for intra-day and may spiral down if it crosses USD 15.75 and sustain below the level. Gold traders, indulged in risky trading, may sell with the stop loss (SL) of INR 27,000 and above. Oversupply is continuing to put pressure on crude oil, with Saudi Arabia hinting at increasing production, while decreasing prices. Crude oil is looking weak for intra-day trading and it is recommended to maintain the SL of INR 4,000 per barrel. Due to weak sentiments across commodities, base metals are also seen in a downward trend – lead, zinc and nickel are all in a negative region today. Copper, however, may show some uptrend on the back of...

Posted On: 01:05 PM Jun 15

Energy and even base metals showing downward trend. In the bullion market, Greece debt crisis and the possible interest announcement of rate hike by US Fed this week are impacting the gold and silver prices, which are witnessing steady decline. While, gold needs to cross the level of INR 27,000 per 10 grams for showing a good uptrend, silver may remain weak for intra-day and may spiral down if it crosses USD 15.75 and sustain below the level. Gold traders, indulged in risky trading, may sell with the stop loss (SL) of INR 27,000 and above. Oversupply is continuing to put pressure on crude oil, with Saudi Arabia hinting at increasing production, while decreasing prices. Crude oil is looking weak for intra-day trading and it is recommended to maintain the SL of INR 4,000 per barrel. Due to weak sentiments across commodities, base metals are also seen in a downward trend – lead, zinc and nickel are all in a negative region today. Copper, however, may show some uptrend on the back of...

Posted On: 12:43 PM Jun 15

Post some resolution of the Greece debt crisis, Gold witnessed hike yesterday and may continue today as well. In fact, if the precious metal closes above NR 27,000 per 10 grams today, gold may see a good upside movement. However, till 6 pm IST today, gold is predicted to remain weak. Similarly, crude oil is also showing downward trend today for intra-day. If crude oil is seen to fall below INR 3,850 per barrel, the commodity may witness a swift fall. Even the base metals are showing weak trend for the day.

Posted On: 02:21 PM Jun 12

For intraday Gold is looking weak, however, on the long-term prospects, the precious metal has shown some stability on the back of Greece debt crisis and weakening of dollar. Silver is giving weak signals and may continue to show weakness in near future. However, it is good to sell the metal below INR 37,550 per kg. Crude oil is seen to be gaining some strength and stabalise its position with speculations in the market about the US cutting down its shell oil production. The commodity is showing strong resistance at INR 4,000 per barrel.

Posted On: 02:28 PM Jun 11

For intraday Gold is looking weak on the back of Greece debt crisis. The impact is also seen in the white metal. Silver is giving weak signals, however it is good to sell below INR 37,550 per kg. Crude oil is seen to be gaining some strength today with speculations in the market about the US cutting down its shell oil production. The commodity is showing strong resistance at INR 4,000 per barrel.

Posted On: 01:20 PM Jun 11

Gold: As per technical analysis, Gold might remain in the range bound market between 27220-26750. Silver: If Silver goes below INR 36580, it may further see a downtrend. It would still be weak and would remain in the range bound market for intraday. Lead: For intraday, Lead is looking strong and should trade above INR 125. It might just cross this level and touch another level pretty soon.

Posted On: 02:04 PM Jun 10

Gold might witness a downtrend and traders should wait for good buying signal before investing in the metal. Silver is also in a downtrend and iravedcommodity does not advise to buy the commodity at this level. The metal may slide further, thus buying at this level is not recommended. Lead is once again in the downtrend. Selling position can be taken in this metal. INR 124.5o might be a good position for creating stop/loss. Crude oil investors might want to wait for the announcement made by OPEC members after the meeting today.

Posted On: 02:26 PM Jun 5