DAILY MARKET WRAPUP COMMODITY
OPEN
HIGH
LOW
CLOSE
SILVER
38693
38861
38572
38676
GOLD
30650
30839
30650
30801
CRUDEOIL
3937
3963
3892
3939
NETURALGAS
165.00
166.20
163.40
165.50
ZINC
230.00
231.85
229.30
230.50
LEAD
168.00
169.75
167.50
167.55
ALLUMINIUM
137.00
142.10
135.55
141.35
COPPER
458.40
464.10
458.10
460.80
NICKEL
898.00
907.00
879.60
881.60
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COMMODITY NEWS Gold prices fell sharply amid dollar strength following a jobs report showing the US economy created more jobs than expected in January, while signs of wage growth lifted investor expectations for a faster pace of rate hikes. The Labor Department said Friday, U.S. non-farm payrolls rose by 200,000 jobs i Ja uar . That eat e o o ists’ fore asts for 84, e jobs. While unemployed remained at unchanged on the prior month at 4.1%. BNP Paribas revised upward its assess e t of ore PCE i flatio , the Fed’s preferred easure of i flatio , to 2.2% from 2.0% previously, and said it expects the Fed to raise rates four times in 2018 compared to the prior estimate of just three hikes. Crude oil prices settled lower as data pointing to signs of rising output weighed on sentiment while a rebound in the dollar added to downside momentum. The number of oil rigs operating in the US rose by six to 765, the highest level since Aug. 11, according to data from energy services firm Baker Hughes. That added to ongoing fears that rising output may weigh on oil prices as US output reached 10 million barrels per day last week, according to data from the Energy Information Administration. Also adding to pressure on oil prices was dollar strength on nonfarm payrolls data showing wage growth improved, fueling expectation for a faster pace of rate hikes the is urre tl pri ed i ith so e a al sts e pe ti g the Federal Reser e’s dot plots, to sho four rate i reases for this ear rather than the current three rate hikes.
GOLD TECHNICAL UPDATE MCX GOLD APRIL 2018
Researcher View The above Daily chart of Gold suggests that prices have move up side after breakout Resistance level. RSI is in buy mode. We expect prices to correct up to levels of 31240
CRUDEOIL TECHNICAL UPDATE MCX CRUDEOIL MARCH 2018
Researcher View The above Daily chart of Crude oil suggests that prices have reversed after taking Support level. RSI is in buy mode. We expect prices to correct up to levels of 3780