Demand for gold as a safe store of value ticked up on Wednesday as investors avoided riskier equities after British Parliament rejected the amended Brexit deal.
Gold scaled a near two-week peak while a weaker dollar lent further weight.
Crude oilNSE -2.85 % saw a rise after a Saudi official indicated tightening global supply and a cut in oil exports in April.
The bullion counter may trade with some gains. Gold can take support near Rs 32,000 and recover towards Rs 32,260.
Base metal prices may trade sideways. Copper may take support near Rs 445 and recover towards Rs 458 on MCX.
Turmeric futures (April) are expected to consolidate in Rs 6,220-6,320 levels. Jeera futures (April) are likely to face resistance near Rs 15,850.
Soybean futures (April) will possibly break the Rs 3,650 level and may fall further to test Rs 3,630-3,600.
Cotton futures (March) are expected to trade with an upside bias and may even breach the resistance near Rs 21,085. Chana futures (April) may face resistance near Rs 4,270 and witness profit booking at higher levels.
Gold scaled a near two-week peak while a weaker dollar lent further weight.
 |
| Commodity market Updates |
Crude oilNSE -2.85 % saw a rise after a Saudi official indicated tightening global supply and a cut in oil exports in April.
The bullion counter may trade with some gains. Gold can take support near Rs 32,000 and recover towards Rs 32,260.
Base metal prices may trade sideways. Copper may take support near Rs 445 and recover towards Rs 458 on MCX.
Turmeric futures (April) are expected to consolidate in Rs 6,220-6,320 levels. Jeera futures (April) are likely to face resistance near Rs 15,850.
Soybean futures (April) will possibly break the Rs 3,650 level and may fall further to test Rs 3,630-3,600.
Cotton futures (March) are expected to trade with an upside bias and may even breach the resistance near Rs 21,085. Chana futures (April) may face resistance near Rs 4,270 and witness profit booking at higher levels.
To Get Free Trial
Missed Call@ 8817002233
Whatsapp @ 8602780449
Mail Us = starindiamarket@gmail.com
No comments:
Post a Comment