COMMODITY MARKET WEEKLY OUTLOOK

SELL GOLD BELOW 25000 TG 24700,24400 SL 25350

International   markets are currently trading on a dull (NIKKIE,HANGSANG,KOSPI,NASDAQ,CAC) where at the Multi Commodity Exchange ( MCX); five of the six indices are trading lower. Lead and copper had gained at weekend session.

At the MCX, MCXCOMDEX was trading around  20% down ,MCXMETAL was trading at 40%up.MCXENERGY 25%down  and MCXAGRI was trading at 20%.

Gold prices fell by 1.02 per cent on Thrusday as investors continued to brace for the increased likelihood that the Federal Reserve will raise interest rates for the first time in nine years when it meets next week.

Gold futures for February 2016 contract, at MCX, were trading at Rs. 25,080  per 10 grams, down by 1.02 per cent after opening at Rs. 25,606 against the previous closing price of Rs. 25,679. It touched the weekly low of Rs. 24740 on thrusday market.

Copper futures for febuary2016 contract, at MCX, made weekly high on starting day itself with rate of 319.45. And touched the low of 302.75 on thrusday’s market and given a high return on rallies.Else above from these, energy sector also had given high return on both crude oil as well as natural gas . NATURAL GAS has fallen from 135 to 115 purely 20points return in a week for sellers. Wheras crudeoil is seen in both trend bull as well as bear and ended with the rate of 2292 of dec month series. Now jan contract is going to start from Monday market which had given closing of 2402.

Apart  from all these lead &copper are top gainers of these week and natural gas&crude oil are being top losers of the week .

Upcoming week copper, nickel , lead  is expected to see in uptrend may cross the last week high’s. yet natural gas will be seen in range bound between  115 to 125. 

Gold resistance 25300,25500,25800 support 24600,24450,24200

Copper resistance 316,320,326 support 308,305,300

Lead resistance 113,114.80,115.60 support 111.50,110.20,109.35