Gold Weekly

Last week Gold oct ended with positive note after FOMC’s decision to keep the interest rate unchanged at 0.25% as Federal Researve raise the conern about the uncertainity in global market. Gold would get benifited by any dealy in rasing in U.S. interest rates. In Previous week MCX Gold were up by 1.94% and settled at INR 26470 while COMEX gold closed with 2.62% upside. In coming week we can expect bullish movment in Gold if sustain above the level of 26350 then it can test the level of 26550-26680.

Silver Weekly

Last week MCX Silver tracked international market after Federal Researve decision on interest rates. Fed’s decision to keep rates unchanged acted as positive for precious metal as 9/10 members were in favour of keeping rates between 0% and 0.25%. MCX Silver were up by 3.15% last week and settled at INR 26077 while COMEX Silver closed at USD 15.15 with 3.84% upside. For the coming week we can expect upside movment in MCX Silver and can test the level of 37000-37450 if it sustain above 35400.

Copper Weekly

Crude Oil showed consolidated movement for the entire week. It’s also seems that link b/w Crude oil and USD has broken for the first time as Fed’s decision put low impact on Crude prices. The 120 days correlation b/w WTI & USD index moved near zero (mostly negative) MCX Crude Oil down by 1.03% last week and settled at INR 2969 while NYMEX Crude closed at USD 44.90 with 1.01% downside. For the coming week we can expect bearish movment in MCX Crude Oil if it sustains below the level of 3040 and break the level of 2900 then it may test the level of 2800-2720.

Crude Oil Weekly

Copper witnessed volatile movement but ended on negative note. Initially copper traded higher as some copper mines halted operations as precautions after earthquake in Chile and traded lower due to Fed’s decision on rates and concers on economies. MCX Copper prices down with 3.70% last week and closed at INR 350.55 while COMEX Copper closed at USD 2.380 with 2.06% downside. Next week we can expect slightly bearish movment in MCX Copper and it can test the level of 342-334 levels if it sustain below 358.

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