Gold:-
Gold prices held steady on Friday, as global geopolitical tensions reignited some safe-haven demand, although investors were still eyeing the release of U.S. economic reports later in the day and Gold prices rebounded in Asia on Friday after President Donald Trump unleashed a stream of comments covering the viability of an existing free trade pact with South Korea to making Seoul pay for a sophisticated anti-missile system deployed now on its soil as well as the need for Saudi Arabia to pay more for U.s. military protection and the prospect of a war with North Korea. Overnight gold prices traded flat on Thursday as investor’s optimism that President Donald Trump’s tax reform plan would boost the dollar offset weaker than expected economic data.
Silver:-
Silver prices fell on Friday to a five-week low amid mounting pressure on the safe haven, while investors seek riskier assets. Silver prices fell on Tuesday to a five-week low amid mounting pressure on the safe haven, while investors seek riskier assets. On the other hand, global stocks were boosted today, slashing demand on silver as an alternative investment and a safe haven. The dollar fell to a four-week low against a basket of currencies, but that failed to underpin the white metal as haven demand wanes.
Crude:-
Crude prices tumbled on Thursday to a one-month low amid concerns about market oversupply while OPEC's efforts fail to achieve balance. U.S. crude futures last traded at $48.68 a barrel down from the opening of $49.18, with an intraday high at $49.40, and a low at $48.22. Concerns about crude oversupply in the markets hurt prices again especially after the EIA report yesterday showed a surge in gasoline inventories indicating increased refining activity. Last week the U.S. oil rig count rose for the fourteenth week in a row indicating big gains in U.S. shale production. The dollar advanced today heaping pressure on crude prices and ending any chance of a recovery.
Copper:-
Copper prices dropped as markets were underwhelmed by the Trump administration’s proposed tax cuts and the focus shifted to concerns over China's manufacturing growth. The pace of expansion in China's manufacturing sector likely slowed this month as factory- gate prices lost steam. Freeport McMahan is preparing three copper concentrate export shipments from its giant Grasberg mine in Indonesia after a 15-week outage.
Zinc :-
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.WBMS data show global zinc market was in 177,000 tones of deficit during January and February 2017 compared to 258,000 tons of deficit in 2016.Expected shortages of zinc may not materialize this year because recent price gains have spurred miners around the world to increase output.
Lead:-
Overall trend of the Lead is bearish for medium-long term .Currently Lead is moving sideways the oscillator is showing buy signal but has moved past its recent high. The oscillator is showing buy signal for short term Lead is in hold short position. Support for the Lead is 136.Resistance for the Lead is 152.
Nickel:-
Overall trend of the Nickel is bearish for medium-long term .Currently Nickel is in strong downtrend but volume is unsatisfactory the open interest is not increasing with trend. Noting point is selling at lower levels seems decreasing. The oscillator is showing sell signal for short term Nickel is in sell position. Immediate support for Nickel is 586.Resistance for the Nickel is 625.
Aluminum:-
Aluminum April contract on mix closed at 123.10. Aluminum closed with a strong bearish candle that is called handing man candlestick pattern on the daily chart. For today support will be around 121 if sustained below 121 more weakness possible and the next level is around 119. Today’s resistance is now seen near 125 if sustained above that level will bring some charm and then we will see this counter heading towards 128.
Commodity Trends:-
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Gold prices held steady on Friday, as global geopolitical tensions reignited some safe-haven demand, although investors were still eyeing the release of U.S. economic reports later in the day and Gold prices rebounded in Asia on Friday after President Donald Trump unleashed a stream of comments covering the viability of an existing free trade pact with South Korea to making Seoul pay for a sophisticated anti-missile system deployed now on its soil as well as the need for Saudi Arabia to pay more for U.s. military protection and the prospect of a war with North Korea. Overnight gold prices traded flat on Thursday as investor’s optimism that President Donald Trump’s tax reform plan would boost the dollar offset weaker than expected economic data.
Silver:-
Silver prices fell on Friday to a five-week low amid mounting pressure on the safe haven, while investors seek riskier assets. Silver prices fell on Tuesday to a five-week low amid mounting pressure on the safe haven, while investors seek riskier assets. On the other hand, global stocks were boosted today, slashing demand on silver as an alternative investment and a safe haven. The dollar fell to a four-week low against a basket of currencies, but that failed to underpin the white metal as haven demand wanes.
Crude:-
Crude prices tumbled on Thursday to a one-month low amid concerns about market oversupply while OPEC's efforts fail to achieve balance. U.S. crude futures last traded at $48.68 a barrel down from the opening of $49.18, with an intraday high at $49.40, and a low at $48.22. Concerns about crude oversupply in the markets hurt prices again especially after the EIA report yesterday showed a surge in gasoline inventories indicating increased refining activity. Last week the U.S. oil rig count rose for the fourteenth week in a row indicating big gains in U.S. shale production. The dollar advanced today heaping pressure on crude prices and ending any chance of a recovery.
Copper:-
Copper prices dropped as markets were underwhelmed by the Trump administration’s proposed tax cuts and the focus shifted to concerns over China's manufacturing growth. The pace of expansion in China's manufacturing sector likely slowed this month as factory- gate prices lost steam. Freeport McMahan is preparing three copper concentrate export shipments from its giant Grasberg mine in Indonesia after a 15-week outage.
Zinc :-
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.WBMS data show global zinc market was in 177,000 tones of deficit during January and February 2017 compared to 258,000 tons of deficit in 2016.Expected shortages of zinc may not materialize this year because recent price gains have spurred miners around the world to increase output.
Lead:-
Overall trend of the Lead is bearish for medium-long term .Currently Lead is moving sideways the oscillator is showing buy signal but has moved past its recent high. The oscillator is showing buy signal for short term Lead is in hold short position. Support for the Lead is 136.Resistance for the Lead is 152.
Nickel:-
Overall trend of the Nickel is bearish for medium-long term .Currently Nickel is in strong downtrend but volume is unsatisfactory the open interest is not increasing with trend. Noting point is selling at lower levels seems decreasing. The oscillator is showing sell signal for short term Nickel is in sell position. Immediate support for Nickel is 586.Resistance for the Nickel is 625.
Aluminum:-
Aluminum April contract on mix closed at 123.10. Aluminum closed with a strong bearish candle that is called handing man candlestick pattern on the daily chart. For today support will be around 121 if sustained below 121 more weakness possible and the next level is around 119. Today’s resistance is now seen near 125 if sustained above that level will bring some charm and then we will see this counter heading towards 128.
Commodity Trends:-
To Get Free Trial
Missed call @8817002233
Mail Us - starindiamarket@gmail.com
visit us at http://www.starindiaresearch.com/freetrail.php
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