Gold prices climbed in futures trade on Friday, supported by positive global sentiment and an uptick in demand by jewellers at the spot market.
Crude oilNSE -2.11 % also traded in the green even as global crude oil prices fell on Friday.
Concerns over the outlook for global economic growth outweighed elevated tensions in the Middle East that could disrupt supply routes and sent crude oil prices higher, Reuters reported.
Around 10:45 am, the MCX Gold traded at Rs 34,296 per 10 grams, up Rs 79, while MCX Crude oil traded Rs 3,907 per barrel, up Rs 10.
Bullion: Bullion counter may trade sideways. MCX Gold can take support near Rs 34,050, facing resistance near Rs 34,400. Silver can test Rs 38,000, taking support near Rs 37,500.
Base metals: Base metals may trade sideways with a weaker bias. Copper may slip lower towards Rs 435, facing resistance near Rs 442, while zinc can test 193 while taking resistance near 197. Lead may test Rs 150, facing resistance near Rs 154. Nickel may slip lower towards Rs 870, facing resistance near Rs 885, while aluminum may test Rs 140, facing resistance near Rs 145.
Energy: MCX Crude oil can dip lower towards Rs 3,860, taking resistance near Rs 3,950. Natural gas may remain on a weaker path and it can test Rs 155.
Spices: Turmeric futures (July) is likely to trade sideways in the range of Rs 6,100-6,200. Jeera futures (July) is likely to trade with an upside bias towards Rs 17,300, taking support near Rs 17,020. Cardamom futures (July) is looking bullish for Rs 3,300 level, tracking an unabated surge in prices at Spices Board of India's auctions in the wake of lower crop estimates. Coriander futures (July) is expected to trade sideways in the range of Rs 7,000-7,100.
Other commodities: Cotton futures (July) is expected to trade sideways in the range of Rs 21,300-21,600. Castor seed futures (July) is expected to take support near Rs 5,535 and trade with an upside bias till Rs 5,650. Cocud futures (July) may continue to face resistance near Rs 2,820 and any upside may remain capped.
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