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In This week a big swing had seen in domestic bullion market
on future contracts, on one hand gold prices are jump by more than +400 point
on Multi Commodity Exchange. Some drop has seen on US market after its
employment data report show a high job in April more than it is expected. On Friday a yellow metal jump on domestic market
for June delivery by more than +255 point and close at 26825. Silver roses with +900 point on Friday trade
for May delivery. In upcoming week bullion are expected to trade with a good
level and show some light correction on commodity market.
Silver for July delivery expected to trade in the range of
44600 to 48300 on MCX.
Gold for June delivery expected to trade 26200 to 27600.
Base metal especially copper and nickel show a huge jump
after a long time on domestic future trading. Cut on ECB main interest rate by 25
basis points give support to Asian market metal. On domestic market volatile movements are seen
in remaining metal like zinc, lead and aluminum.
In upcoming week base metal are expecting to trade low with
bearish movement on MCX market.
Crude oil for May delivery trade in the range of 5060 to
5198 for future delivery, global crude is bearish with sluggish movement. On domestic
market crude oil price are expected to trade on bull side in upcoming week with
a low volatile trading session.
MCX cotton are continue its rocking style in this week
also, this week cotton expecting to trade
above 18000 with a support level of
17800, 17500 and a resistance of 18500, 18600. Currently cotton is in
good position an on Domestic market and appears to break all time record soon
on MCX market.
Mentha oil is volatile on Indian commodity market, in
present week it shows good sign with up position. Mentha oil for May delivery expected in upside
in upcoming week with bullish movement on MCX.
Seed Newsvine
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