Today’s Precious Metals News and Online MCX Tips

1

2

Market Outlook
Gold prices lower for a third straight session on Thursday, adding to their decline from a one-month high reached at the start of the week as the dollar strengthened amid expectations for more U.S. interest rate hikes this year. Oil prices up on Thursday, extending two days of increases as supply disruptions in Libya lifted the market, although bloated U.S. crude inventories curbed gains. Aluminium prices stand out as the leader as they broke higher on Wednesday. Zinc, copper and lead prices are nibbling away at overhead resistance and we wait to see how much selling lurks above. Nickel prices have not managed to get much lift; they are seeing what underlying support.

3

Fundamental News
Gold prices have rebounded well but appear to have run into selling ahead of the February highs, but for now the sellers do not seem to be prepared to chase prices lower.

OPEC compliance with its targets is expected to be 95 percent this month, up from 94 percent in February, according to Reuter’s surveys. Compliance is lower by non-OPEC members like Russia, who have officially agreed to participate in the cuts.

4

5

Gold showed bearish movement and found the important support level of 28550. Now if it will sustain below the important support level of 28500 then 28300 will act as next support level. On the other hand 28800 will act as a major resistance level.

6

Silver showed bullish movement and found the important resistance level of 42270. Now if it will sustain below 42000 then 41500 will act as next support level. On the other hand 42500 will act as a major resistance level.

7

Crude showed bullish movement and found the important resistance level of 3275. Now if it will close below the important support level of 3170 then 3120 will act as next support level. On the other hand 3300 will act as a major resistance level.

8

Copper showed bullish movement and found the important resistance level of 385. Now if it will close below the important support level of 381 then 375 will act as next support level. On the other hand 386 will act as a major resistance level.

9

(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply

Your email address will not be published. Required fields are marked *