Commodity Market Fundamental Outlook

PRECIOUS METALS FUNDAMENTAL OUTLOOK

Precious metals are trading lower on COMEX today. Commodity Tips: We expect prices to trade range bound for the day, after a firmer U.S. dollar after positive U.S. economic data late last week appeared to raise the chance of an interest rate hike by year-end

BASE METALS FUNDAMENTAL OUTLOOK

Industrial metals are trading mix on International bourses today. We expect prices to trade higher for the day, after remarks by the Federal Reserve chair suggested the U.S. central bank may stick with loose monetary policy for longer, which shored up investor appetite for commodities.

ENERGY FUNDAMENTAL OUTLOOK

Crude oil is trading lower on NYMEX today. Free Commodity Tips: We expect prices to trade range bound for the day, with a rising rig count in the United States, a strong dollar and record OPEC-output which comes amid slowing global economic growth that could erode fuel demand.

MCX SUPPORT & RESISTANCE LEVEL

GOLD JUNE FUTURE

R2–30612,

R1 -30414,

S1-29277,

S2-29212,

SILVER JULY FUTURE

R2 –42814,

R1- 42446,

S1-41219,

S2-40980,

CRUDE OIL JUNE FUTURE

R2 –3480,

R1-3430,

S1-3290,

S2-3250,

COPPER JUNE FUTURE

R2 –327,

R1-323,

S1-310,

S2-304.

INTERNATIONAL MARKET UPDATE

GOLD $ 1255.65.

SILVER $ 17.457,

COPPER $314.65,

CRUDE OIL $ 50.25,

INR 66.845.