Gold's safe haven charm came under strain on Friday
OilNSE -0.22 % prices soared to the four-month high as investors focused on global production cuts and supply disruptions in Venezuela, Reuters reported.
Bullion: The bullion counter may show a weak bias, but short covering at lower levels can be seen. MCXNSE 1.96 % Gold can slip lower towards Rs 31,700. Silver can take support near Rs 37,800, but has a resistance near Rs 38,300.
Base metal prices may trade sideways with a weak bias. Copper may slip lower towards Rs 440, facing resistance near Rs 453 on MCX. Zinc can take support near Rs 196, facing headwinds near Rs 201. Lead can move in the range of Rs 143-147. Nickel can also test Rs 880, facing resistance near Rs 910. Aluminium prices may remain in the range of Rs 130-133.
OilNSE -0.22 % prices soared to the four-month high as investors focused on global production cuts and supply disruptions in Venezuela, Reuters reported.
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| Commodity News |
Bullion: The bullion counter may show a weak bias, but short covering at lower levels can be seen. MCXNSE 1.96 % Gold can slip lower towards Rs 31,700. Silver can take support near Rs 37,800, but has a resistance near Rs 38,300.
Base metal prices may trade sideways with a weak bias. Copper may slip lower towards Rs 440, facing resistance near Rs 453 on MCX. Zinc can take support near Rs 196, facing headwinds near Rs 201. Lead can move in the range of Rs 143-147. Nickel can also test Rs 880, facing resistance near Rs 910. Aluminium prices may remain in the range of Rs 130-133.
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