NEW DELHI: Gold prices climbed in futures trade on Friday in the light of positive global trend while a softer rupee and weakness in riskier equities strengthened the demand of the safe-haven metal.
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In international markets, gold prices rose, moving closer to their 14-month high hit last week, as trade and political turmoil, along with US interest rate cut expectations propped up the precious metal, Reuters reported.
Crude oil also edged up as global oil prices rose by supply concerns after attacks on tankers in the Gulf of Oman.
Around 11:20 am, the MCXNSE -0.57 % Gold traded at Rs 33,090 per 10 grams, up Rs 131, while MCX Crude oil traded Rs 3,656 per barrel, up Rs 13.
Gold: MCX Gold has intraday support at Rs 32,850 whereas resistance is at Rs 33,200-33,000. Overall bias looks positive and a dip towards the support zone will be a good buying opportunity.
Copper: MCX Copper is expected to trade sideways with a positive bias for the session. An intraday support for the commodity is at Rs 404 while it is likely to face resistance at Rs 414.
Nickel: Nickel is likely to trade positive on MCX with an intraday support at Rs 865 and resistance at Rs 895.
Nickel: Nickel is likely to trade positive on MCX with an intraday support at Rs 865 and resistance at Rs 895.
Lead: MCX Lead is expected to trade sideways with resistance at Rs 157 while support is at Rs 152.
Zinc: MCX Zinc is expected to trade sideways with resistance at Rs 206.50 while support is at Rs 201.
Aluminium: MCX Aluminium is expected to trade sideways with resistance at Rs 145 while support at Rs 141.
Natural gas: Natural gas has immediate intraday support at Rs 160 while resistance is at Rs 165.
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