Gold is likely to hit a bump in futures trade on Friday, reflecting a weak global trend.
Crude oil prices may also fall as the commodity slipped away from the $70 mark after briefly rising above that level in the previous session.
Bullion: The bullion counter may trade sideways as investors eye outcome of non-farm payroll data due later today. It can take support near Rs 31,600 while facing resistance near Rs 31,950. Silver can witness lower level buying and test Rs 38,000 while finding support at Rs 37,200.
Spices: Turmeric futures (April) are expected to face headwinds near Rs 6,500 level. Jeera futures will possibly rally up to Rs 16,400-16,500 levels. Coriander futures trend is bullish and will possibly test Rs 7,300 level.
Other commodities: Cotton futures may be bullish and will possibly head towards Rs 22,300. Chana contracts are expected to trade sideways in the range of Rs 4,390-4,490 levels. Guar seed as well as guar gum futures are looking bullish and are expected to take support near Rs 4,365 and 8,850 levels, respectively.
Crude oil prices may also fall as the commodity slipped away from the $70 mark after briefly rising above that level in the previous session.
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| Commodity tips Outlook |
Bullion: The bullion counter may trade sideways as investors eye outcome of non-farm payroll data due later today. It can take support near Rs 31,600 while facing resistance near Rs 31,950. Silver can witness lower level buying and test Rs 38,000 while finding support at Rs 37,200.
Spices: Turmeric futures (April) are expected to face headwinds near Rs 6,500 level. Jeera futures will possibly rally up to Rs 16,400-16,500 levels. Coriander futures trend is bullish and will possibly test Rs 7,300 level.
Other commodities: Cotton futures may be bullish and will possibly head towards Rs 22,300. Chana contracts are expected to trade sideways in the range of Rs 4,390-4,490 levels. Guar seed as well as guar gum futures are looking bullish and are expected to take support near Rs 4,365 and 8,850 levels, respectively.
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