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Market Outlook

MCX Gold traded on lower note since the bears so seen in last few sessions. It faced resistance at near 37700 while on lower end 37450 is acting as good support for the bullion. On higher side, 38000 is still seen as strict resistance. MCX Crude faced stiff resisatnce around 4200 mark and found reversals from these levels. On surpassing support of 4150, next support is seen around 4100 levels whereas 4250 may again act as crucial resisatnce. MCX Copper traded on a flat to negative note as 439 acted as key resistance for the metal sustaining above which can lead towards higher resisatance of 441. On lower side, support is seen in range of 434-432.

Fundamental News

Gold was steady on Monday as investors await cues from the U.S. Federal Reserve on interest rates later this week, while trying to size up the chances of a new round of U.S. tariffs on Chinese goods.

Oil prices fell on Monday after data showing China’s overall exports of goods and services shrank for a fourth straight month, sending shivers through a market already concerned about damage being down to global demand by the Sino-U.S. trade war.

Market Outlook

GOLD

Gold showed bearish movement and major support around level of 37575. Now if price maintains on higher level then it will test next resistance level of 38000. On other side 37400 will be major support level.

SILVER

Silver showed bearish movement and major support around level of 43450. Now if price maintains on higher level then it will test next resistance level of 44000. On other side 42800 will be major support level.

CRUDE

Crude oil showed bullish movement and major resistance level of 4209. Now if price sustains on lower level then it will test next support level of 4100. On other side 4350 will be major resistance level.

COPPER

Copper showed bullish movement and found major resistance around level of 438.90. Now if price sustain on lower level then next support level will be 435. And 445 will be major resistance level.

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