NEW DELHI: Gold fell in futures trade on Monday, hit by a rally in equities and rupee's rise against the dollar.
Weak global sentiment and a fall in demand by jewellers at local markets also dented gold prices.
Gold fell more than 1 per cent in global markets to its lowest in more than a week as the dollar strengthened and investors opted for riskier assets after the United States and China agreed to restart trade talks, Reuters reported.
Bullions: Bullion will trade on a weaker side as gold prices fell more than 1 per cent in international markets as hopes of a trade deal between the United States and China improved risk appetite. MCX Gold can dip lower towards Rs 33,500, facing resistance near Rs 34,100, while silver can also test Rs 37,000, facing resistance near Rs 37,500.
Energy: Crude oil may trade on an upside path. MCX Crude oil can test Rs 4,170, taking support near Rs 4,100. Natural gas may witness lower level buying and it can test Rs 164.
Oilseeds: Soybean futures (July) is expected to witness a consolidation and trade with an upside bias in the range of Rs 3,600-3,725 levels. Mustard futures (July) is likely to stay on a strong foot and may test Rs 3,980-4,000 by taking support near Rs 3,895 levels. CPO futures (July) may witness an upside momentum towards Rs 520-525, taking support near Rs 503 level.
Other commodities: Cotton futures (July) is expected to show some more weakness towards Rs 21,000 level. Castor seed futures (July) is expected to take support near Rs 5,360 levels and may trade with an upside bias till Rs 5,550-5,600 levels. Cocud futures (July) may continue to face resistance near Rs 2,900 level and witness profit booking.
Weak global sentiment and a fall in demand by jewellers at local markets also dented gold prices.
Gold fell more than 1 per cent in global markets to its lowest in more than a week as the dollar strengthened and investors opted for riskier assets after the United States and China agreed to restart trade talks, Reuters reported.
Bullions: Bullion will trade on a weaker side as gold prices fell more than 1 per cent in international markets as hopes of a trade deal between the United States and China improved risk appetite. MCX Gold can dip lower towards Rs 33,500, facing resistance near Rs 34,100, while silver can also test Rs 37,000, facing resistance near Rs 37,500.
Energy: Crude oil may trade on an upside path. MCX Crude oil can test Rs 4,170, taking support near Rs 4,100. Natural gas may witness lower level buying and it can test Rs 164.
Oilseeds: Soybean futures (July) is expected to witness a consolidation and trade with an upside bias in the range of Rs 3,600-3,725 levels. Mustard futures (July) is likely to stay on a strong foot and may test Rs 3,980-4,000 by taking support near Rs 3,895 levels. CPO futures (July) may witness an upside momentum towards Rs 520-525, taking support near Rs 503 level.
Other commodities: Cotton futures (July) is expected to show some more weakness towards Rs 21,000 level. Castor seed futures (July) is expected to take support near Rs 5,360 levels and may trade with an upside bias till Rs 5,550-5,600 levels. Cocud futures (July) may continue to face resistance near Rs 2,900 level and witness profit booking.
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