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.