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In the global markets, gold fell on a firmer dollar and increased investor appetite for riskier assets due to strong US data and corporate results.
On the other hand, global crude oil prices rose on Friday and were on track for the first weekly gains this month, as rising tensions in the Middle East .. stoked fears of supply disruptions, Reuters reported.
Here is an outlook on various commodities by brokerage SMC Global Securities for today.
Bullion: Gold may face resistance near Rs 32,200, taking support near Rs 31,900 while silver can face resistance near Rs 37,200, taking support near Rs 36,700. |
Base metals: "Base metals may trade with sideways bias," the brokerage said. MCX Copper may face resistance near Rs 432 while taking support near Rs 423. Zinc can test Rs 219 while taking support near Rs 36,700.
Base metals: "Base metals may trade with sideways bias," the brokerage said. MCX Copper may face resistance near Rs 432 while taking support near Rs 423. Zinc can test Rs 219 while taking support near Rs 212 on MCX. Lead may test Rs 130, taking support near Rs 126. Nickel may test Rs 870, taking support near Rs 830 and aluminium prices may test Rs 152, taking support near Rs 148.
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