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Gold notched a quarterly gain of about 8.4 percent on Friday, marking its best quarter in a year, as uncertainty over U.S. President Donald Trump's tax and investment plans and elections in Europe fuelled demand for bullion as a safe haven.
Copper is not far from $6,000 per tonne, which ought to be a respectable enough price for mining companies to prosper, if history is anything to go by, at least. But the market failed to gather significant steam despite disruptions to production at FreeportMcMoRan’s Grasberg and Cerro Verde operations over the past several weeks.
Indian state refiners will cut oil imports
from Iran in 2017/18 by a fifth, as New Delhi takes a more assertive stance over an impasse on a giant gas field that it wants awarded to an Indian consortium, sources familiar with the matter said.
TECHNICAL ANALYSIS GOL D
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OUTLOOK :
GOLD(JUN)
SUPPORT:-
28620-28500
RESISTANCE:-
28766-28870
TREND:-
BULLISH
STRATEGY :-
BUY ON DIPS
TECHNICAL OUTLOOK Technically trend in the Gold Jun contract looks bullish and is likely to continue with the trend for near term. Support is seen at 28620 while resistance is seen at level 29020. Traders may buy above 28850 with the stop loss of 28580 for the target of 29170.
SILVER
In Comex, gold has strong resistance at $1261 . This week gold closed below $1248.Major support now at $1226- $1210 and strong resistance at $1261-1274. OUTLOOK :
SILVER(MAY)
SUPPORT:-
41840-41350
RESISTANCE:-
42630-42930
TREND:-
BULLISH
STRATEGY :- VijayBUY ONIndore DIPS 301, 3rd Floor, Mangal City, Nagar,
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TECHNICAL OUTLOOK Technically trend in the Silver MAY. contract looks very bullish and is likely to continue with the trend for near term. Support is seen at 41650 while resistance is seen at 42630 level. Traders may buy above 42400 with the stop loss of 41690 for the target of 43400,MCX Silver MAY Contract, showed upside movement this week and made a weekly high of 42440. In Comex silver has a resistance of $18.50 and strong support at $17.80. In COMEX Silver COPPER closed 18.19.
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OUTLOOK :
COPPER(APR)
SUPPORT:-
370-361
RESISTANCE:-
390-398
TREND:BEARISH Toll Free : 18003157801 STRATEGY :-
SELL ON RISE
TECHNICAL OUTLOOK The trend in mcx Copper APR. contract looks bearish and further down side is expected for near term. Support is seen at 370.00 while resistance is seen at 390.00 level. Traders may sell below 378 with the stop loss of 385.10 for the target of 370.
CRUDE OIL
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OUTLOOK :
CRUDEOIL(APR)
SUPPORT:-
3144-3004
RESISTANCE:-
3356-3428
TREND:BULLISH Toll Free : 18003157801 STRATEGY :-
SELL ON RISE
TECHNICAL OUTLOOK The trend in mcx Crude Oil MAR. Contract looks bullish and further upside is expected for near term but we will see some profit booking on higher side. Support is seen at 3144 while resistance is seen at 3356 level. Traders may sell around 3350. With the stop loss of 3420 for the target of 3260. In Nymex Crude Oil has a resistance of $52.10 and strong support at $48.50. In NYMEX Crude Oil closed 50.62.
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INTERNATIONAL MARKET UPDATE GOLD 1247.21 SILVER
EURUSD 1.066
18.19
COPPER
64.84
USDINR
2.64 CRUDEOIL 50.62
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USDJPY 111.32 GBPUSD
1.252
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ECONOMIC CALENDAR
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