COMMODITY ANALYSIS FOR TODAY 29 APRIL 2016

GOLD:	SILVER:
RESISTANCES :30160/30700 /29840/29960	RESISTANCES : 42500/43050/ 41300/41760
SUPPORTS : 29360/29050/28960/28710	SUPPORTS : 39850/39150 38500/37950
BUY Above 29800, TGT 30100/300, SL 29600	BUY ABOVE 41400,TGT 41700 SL 41050
SELL Below 28950, TGT 28800/500 SL 29130	SELL BELOW 41100, TGT 39700, SL 41350

Gold : Gold rose more than 1 percent on Thursday as the Bank of Japan held off from expanding monetary stimulus, boosting the yen versus the U.S. dollar, and after the Federal Reserve signaled it was in no rush to tighten monetary policy. The Fed left interest rates unchanged after its latest meeting on Wednesday and, while keeping the door open to a hike in June, showed little sign it was in a hurry to tighten policy amid an apparent slowdown in the U.S. economy. German bond yields fell as relief spread across markets that the Fed had not strongly signaled that it would raise interest rates in June, while the dollar slid against a basket of currencies. The U.S. currency came under further pressure after the Bank of Japan defied market expectations for more monetary stimulus, boosting the yen. U.S. short-term interest rate futures reflect the expectation the Fed will wait until September before raising rates. Gold is highly sensitive to rising interest rates, which lift the opportunity cost of holding non-yielding bullion while boosting the dollar, in which it is priced. After three straight years of losses, analysts are finally prepared to say gold prices have found a floor, with rising prices seen this year and next as concerns over the pace of U.S. monetary policy tightening fade.

Outlook : We expect gold prices to trade positive on the back of Japan’s monetary policy stance.

BULLION ANALYSIS FOR TODAY 28 APRIL 2016

GOLD: SILVER: RESISTANCES :30150/30700 /29840/29960 RESISTANCES : 42500/43050/ 41300/41760 SUPPORTS : 29260/29050/28960/28710 SUPPORTS : 39850/39150 38500/37950 BUY Above 29450, TGT 29590/700, SL 29260 BUY ABOVE 40900,TGT 41300 SL 40600 SELL Below 28950, TGT 28800/720 SL 29130 SELL BELOW 39700, TGT 39100, SL 40000

Gold : prices reversed their gains after the FOMC policy statement signaled a possible rate hike in June. Prices slipped lower after testing $1251/ounce in yesterday’s session and tested $ 1238/ounce in early Asian hours, before recouping the losses after the bank of Japan monetary policy statement today morning. That Fed statement largely mirrored the one issued after the Fed's last policy meeting in March, with the U.S. central bank's rate-setting committee describing an improving labor market but acknowledging that economic growth seemed to have slowed. It also said it was closely watching inflation and noted that global economic headwinds remained on its radar, though it made no mention of the risks they posed, as it had last month.

COMMODITY ANALYSIS FOR TODAY 27 APRIL 2016

Gold :Gold rebounded on Tuesday after weaker-than-expected U.S. durable goods data knocked the dollar to a session low against the euro, but prices remained hemmed into a narrow range as a two-day Federal Reserve policy meeting began. The Fed, which will release its post-meeting statement at 2 p.m. EDT on Wednesday,is expected to hold interest rates steady, but traders will be watching for changes to its assessment of the U.S. economy, which could point to more rate increases later in the year. Economists expect a Fed increase in June, with another by year-end.

Outlook : We expect gold prices to trade negative on the back of strength in US dollar

Silver :Silver was up 0.5 percent at $17.07 an ounce.

Outlook: We expect silver prices to trade negative on the back of profit booking after sharp up-move in prices.

BULLION ANALYSIS FOR TODAY 26 APRIL 2016

GOLD:	SILVER:
RESISTANCES : 30200/30122/29960/29840	RESISTANCES : 42500/43050/41760/41300
SUPPORTS : 29140/29050/28960/28710	SUPPORTS : 39850/39150 /38500/37950
BUY ABOVE 29450, TGT 29600/750, SL 29280	BUY ABOVE 40400, TGT 40700/40900, SL 40000
SELL BELOW 29290, TGT 29050/28930, SL 29400	SELL BELOW 39850, TGT 39500/100,SL 40350

Silver : Silver rose to an 11-month top last week and was trading below that level on Monday. Outlook : We expect silver prices to trade negative on the back of profit booking after sharp up-move in prices.

Gold : Gold ticked higher on Monday as the dollar gave back some of its recent gains, but caution ahead of the Federal Reserve policy meeting later this week curbed its advance. The Fed is not expected to raise interest rates at this week's meeting but markets will be looking for the U.S. central bank's take on global economy and its monetary policy outlook. Fed Chair Janet Yellen said

BULLION ANALYSIS FOR TODAY 25 APRIL 2016

GOLD: SILVER: RESISTANCES 29840/29960 /30150/30200 RESISTANCES 41300/41760/42500/43050 SUPPORTS 29140/29050/28960/28710 SUPPORTS 39800/39150/38500/37950 BUY ABOVE 29430, TGT 29520/29680, SL 29280 BUY ABOVE 40350, TGT 40700/40900, SL 40000 SELL BELOW 29240, TGT 29050/28930, SL 29390 SELL BELOW 39800, TGT 39500/39100, SL 40200

Gold: Gold fell more than 1 percent on Friday as the dollar advanced versus the yen and the euro, putting the metal on track to post its second straight weekly loss, while silver was set for its third consecutive weekly rise. The dollar was up 2 percent against the yen on speculation the Bank of Japan was considering applying negative rates to its lending program for financial institutions, effectively starting to pay banks to borrow its cash. Goldman Sachs maintained its bearish view on gold and other commodities on Friday, and reiterated its recommendation to short gold. The U.S. Federal Reserve will meet for a two-day policy meeting April 26- 27. HSBC said the gold and silver rallies could be running into headwinds. Outlook We expect gold prices to trade negative on the back of strength in US dollar

BULLION ANALYSIS FOR TODAY 22 APRIL 2016

GOLD:

RESISTANCES : 30250/30150/29960/29345

SUPPORTS : 29140/29050 /28960/28710

BUY : Above 29590, TGT 29840, SL 29480

SELL :  BELOW 29400 TGT 29160/29050, SL 29550

SILVER:

RESISTANCES: 42500/41850/41760/40600

SUPPORTS: 40050/39150/38500/37950 /37550

BUY : Above 40700, TGT 40850/41200, SL 40300

SELL : Below 39500, TGT 39100/38800, SL 39950

GOLD: Gold on MCX settled up 0.14% at 29357 slipped from a five-week high as the dollar strengthened against the euro, but the metals were headed for weekly gains buoyed by a rally commodities. While Comex Gold hit a fiveweek high of $1,270.10 on Thursday, but pared some gains after the dollar regained ground versus the euro. Yesterday the euro reversed course to trade lower against the dollar on Thursday after traders saw potential for the European Central Bank to eventually increase its stimulus measures if necessary.Yesterday the ECB's Governing Council left its benchmark interest rate for the euro zone at a record-low of zero in a closely-watched decision in Frankfurt. At the same time, the ECB's deposit rate remained unchanged at Minus-0.4%, while its marginal lending facility rate also stayed unchanged at 0.25%.

BULLION ANALYSIS FOR TODAY 13 APRIL 2016

GOLD:

RESISTANCES : 30150/30700 29840/29960 29360/29600

SUPPORTS : 29120/29020 28590/28380 28270/28040

“BUY ABOVE 28800, TGT 29100, SL 28650”

“SELL Below 29100, TGT 28900, SL 29500”

Gold prices eased in Asian trading hours and are trading near $1252/ounce after ending 1.4 % overnight. Prices tested fresh four week high yesterday as the oil prices continued to surge ahead of the meeting between OPEC and Russia in Doha. Meanwhile, the International Monetary Fund (IMF) had cut its growth forecast for 2016 on Tuesday, citing an extended period of slow growth that has made the global economy vulnerable to further instability. It now sees the global economy expanding at a rate of 3.2 percent this year, down from its previous forecast of 3.4 percent. Lower growth forecast was already being expected by the markets and this was also one of the factors for the rally in gold over past few days San Francisco Fed President John Williams, said in his comments that he expects two – three rate hikes this year and when it happens the markets are likely not to go volatile. SPDR Gold Trust, the world's top gold-backed exchange-traded fund, said its holdings fell 0.33 percent to 815.14 tonnes on Tuesday. Given the high probabilities of rate hikes from Fed the rally in gold is likely to run into resistance shortly , at the same time as the ETF flows have also started to consolidate we might see gold prices nudging lower from current levels. For the day we therefore recommend a sell in gold.

SILVER:

RESISTANCES : 40100/40600 39200/39580 38200-38500

SUPPORTS: 37850/37500/200 36800/36500 36100/35300

“BUY Above 38500, TGT 38800/39200, SL 38150”

“SELL Below 37800, TGT 37500/ 37200, SL 38150”

BULLION ANALYSIS FOR TODAY 12 APRIL 2016

CRUDEOIL ROCKSSSSSS HIT FINAL 2638 MADE HIGH OF 2700!!!!!!!! 

GOLD:

RESISTANCES : 29840/29960 29450/29600 

SUPPORTS : 29120/29020 28590/28380

BUY Above 29300 TGT 29450 SL 29200

SELL Below 29120 TGT 28840 SL 29280

Review Gold prices traded above $ 1259/ounce in early morning today as weak economic data and uncertainty over US monetary policy have sparked risk-averse sentiment in the market, underpinning the demand for safety assets such as gold. The dollar slid near the lowest since mid-October on the expectations of no interest rate hikes in April meet. The rally in the oil prices also lifted the broader sentiments. In the meeting held between Fed Chairperson Janet Yellen and US President Mr. Obama , the president has praised Fed’s efforts towards supporting the overall recovery process, however nothing was discussed on the monetary policy front. CFTC data on Friday showed hedge funds and money managers cut their net long positions in gold futures and options in the week to April 5, but still not far from a two-month high. Assets in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.22 percent to 817.81 tonnes on Friday.

SILVER: 

RESISTANCES : 39200/39580 37850/38500 

SUPPORTS : 37250/36900 /36600/36350

BUY  Above 37850 TGT 38500 SL 37450

SELL Below 37500 TGT 36950 SL 37850

CRUDEOIL ANALYSIS FOR TODAY 11 APRIL 2016

"BUY ABOVE 2565 TGT 2614/2638 SL 2535"

 "SELL BELOW 2660 TGT 2618/2590 SL 2690"

Review:

• Crude oil prices last week showed massive gains seeing first weekly drawdown in crude stocks after seven continuous gains  
• As per Friday’s closing, WTI International showed intraday gains more than 6.50%, registering at $39.72/bbl, whereas Brent crude oil gains were around 6.40%, registering at $41.94/bbl  
• MCX crude oil showed gains around 6%, registering at Rs.2625/bbl  
• On weekly basis, gains in WTI International, Brent crude oil and MCX crude were around 8%, 8.50% & 6.60% respectively.

Outlook: Crude oil prices today is expected to extend its gains as last week Baker Hughes rig count showed third weekly removal in active crude oil rigs. With declining crude production levels, further fall in rig counts can support crude oil prices. Number of active crude oil rigs is running at their 2009 low levels. Current number of active crude rigs is just 22% of all time high levels of rig count. Apart from this, certain countries including some of the oil majors are expecting some better outcomes from the 17th April Doha meet. Russians seems to be the most optimistic one’s as they

GOLD ANALYSIS FOR TODAY 08 APRIL 2016

“BUY  ABOVE 29240, TGT 29410/29500 SL 29110”

“SELL BELOW 28790, TGT 28670/29560, SL 28900”

Gold Gold jumped almost two percent on Thursday as the dollar fell to a 17- month low against the Japanese yen following minutes from the U.S. Federal Reserve's latest meeting and global shares fell, rekindling investor appetite for safer assets. Minutes from the Fed's March meeting released on Wednesday showed a consensus by policymakers that risks from a global economic slowdown warranted a cautious approach to raising U.S. interest rates. The metal saw its biggest quarterly rise in nearly 30 years in the three months to March, rallying more than 16 percent and hitting a 13-month high on speculation the Fed was not in a hurry to normalize interest rates. It had drifted back towards the key $1,200 level in the past week after hawkish comments from several Fed officials. Gold is sensitive to rate increases as they lift the opportunity cost of holding the non-interest-yielding metal. The Fed should be patient and cautious about raising short-term interest rates, but should nevertheless increase them in a sustained way, Dallas Fed President Robert Kaplan said on Wednesday. Assets in SPDR Gold Trust, the world's largest gold-backed exchangetraded fund, rose 0.51 percent to 819.60 tonnes on Wednesday, the first inflow in nearly two weeks. Outlook We expect gold prices to trade positive on the back of uncertainty over US interest rates.

RESISTANCES: 29600/29840 29350/29470 29150/29240

SUPPORTS: 28840-790 28580/28380 28270/28040

GOLD ANALYSIS FOR TODAY 07 APRIL 2016

Gold: Gold fell 1 percent on Wednesday as a recovery in equities prompted some profit-taking after Tuesday's rally, while minutes of the U.S. Federal Reserve's lastpolicy meeting showed concern about "appreciable downside risks" in the global economy. Fed policymakers debated whether an interest rate hike would be needed in April, though a consensus emerged that risks from a global economic slowdown warranted a cautious approach, minutes from the March 15-16 meeting showed. Gold, which is sensitive to rate increases as they lift the opportunity cost of holding the non-interest-yielding metal, posted its biggest quarterly rise in nearly 30 years in the first three months of 2016 as expectations for rate rises faded. Holdings of the world's largest gold-backed exchange-traded fund, New York-listed SPDR Gold Shares, fell on Tuesday. It reported this year's first weekly outflow last week. Outlook We expect gold prices to trade sideways on the back of uncertainty over US interest rates.

SUPPORT AND RESISTANCE FOR GOLD:

S2	S1	Close	R1	R2
28500	28600	28646	28750	28900

COMMODITY ANALYSIS FOR TODAY 06 APRIL 2016

Gold: Gold rebounded more than 1 percent on Tuesday, snapping two days of losses as risk appetite evaporated, pushing global stocks lowerand knocking the dollar to a 17-month low against the yen. That helped to reverse a two-day drop in gold that had sent prices back towards their lowest since late February. However, uncertainty over the outlook for U.S. monetary policy limited moves. Bullion prices pared gains after an industry report showed the U.S. economy's service sector grew more quickly in March. The U.S. trade deficit widened more than expected in February, the latest indication that economic growth weakened further in the first quarter. Gold is highly exposed to rising U.S. interest rates because they lift the opportunity cost of holding non-yielding assets, and had been pinned in a range by uncertainty over Fed policy.

Outlook: We expect gold prices to trade sideways on the back of uncertainty over US interest rates.

Crude Oil : Oil prices rose on Tuesday after Kuwait insisted major producers will agree to freeze output later this month even as key player Iran continued to balk at the plan. The market extended gains in post-settlement trade after preliminary data on U.S. crude supply-demand for last week from industry group American Petroleum Institute (API) showed a surprise draw of 4.3 million barrels. Analysts polled by Reuters had expected U.S. crude stockpiles to have risen by 3.2 million barrels to an eighth straight week of record highs. The U.S. government's Energy Oil finished the session higher on remarks from Kuwait's OPEC governor that a meeting of oil-producing countries in Doha on April 17 will deliver an agreement to hold output at January highs despite Tehran pouring cold water on the plan.

Outlook: We expect crude oil prices to trade positive on the back of short covering after slump in prices.

Natural Gas U.S. natural gas futures on Tuesday fell more than 2 percent after the latest

COMMODITY ANALYSIS FOR TODAY 05 APRIL 2016

SILVER ROCKSSSSSSSSSS HIT FIRST TGT 35950

GOLD: Gold fell on Monday after strong U.S. economic data boosted investor risk sentiment and a top U.S. Federal Reserve official said an interest rate hike is likely to take place ahead of the market's current expectations due to fading economic concerns. Spot prices saw their biggest quarterly rise in nearly 30 years in the three months to March, rallying on speculation the Fed was not in a hurry to normalize interest rates, but drifted back towards the key $1,200 level after hawkish comments from several Fed officials. The U.S. central bank raised rates in December for the first time in nearly a decade. On Monday, Boston Fed President Eric Rosengren, who is usually cautious, said it was "surprising" that U.S. interest rate futures markets currently imply one or zero rate hikes this year. He said this prediction could prove "too pessimistic."

Outlook: We expect gold prices to trade sideways on the back of uncertainty over US interest rates.

SILVER: Silver fell 0.5 percent to $14.95. New orders for U.S. factory goods fell in February and business spending on capital goods was much weaker than initially thought, the latest indications that economic growth slowed further in the first quarter. The Commerce Department said on Monday new orders for manufactured goods declined 1.7 percent as demand fell broadly, reversing January's downwardly revised 1.2 percent increase. Orders have declined in 14 of the last 19 months. They were previously reported to have increased 1.6 percent in January.

Outlook : We expect silver prices to trade sideways on the back of uncertainty over US interest rates.

TECHNICAL ANALYSIS OF COMMODITY FOR 4 APRIL 2016

“SELL SILVER MAY @ 36200 SL 36550 TGT 35950-35600.”

SILVER: Silver trading range for the day is 34634-37492. Silver dropped as an optimistic U.S. March jobs report signaled strong improvements in labor market likely pushing a June interest rate hike by Fed back on the table. The U.S. economy finished the first quarter with a strong March as employers continued adding jobs at a healthy pace. U.S. employers added 215,000 jobs in March, the payrolls report showed, against expectations for 205,000.

CRUDEOIL: In line with expectation crude oil prices witnessed massive fall by breaching the key support of 2550 and tumbled to the low of 2453 and settled almost near the week lows. On immediate basis the support is at 2414 of 0.38% retracement of the short term rally seen since (1805 -2800). Breakdown below it will extend the fall towards crucial support of 2350. Break 2350 will once again change the overall trend to bearish. For the week, we expect crude oil prices to continue to trade lower and recommend selling around 2520 for above mentioned targets.

GOLD: For the fourth consecutive week the gold prices on MCX continued to quote lower and fell to the low of 28280 and finally settled at 28466. On the weekly chart, prices have exactly dipped till the immediate support of 28271 and recovered from the same and ended above it. Currently, prices are likely to take the supports of 28270 and as long as it holds above it a slight recovery can be seen till 28800 and may consolidate within the range of 28270 – 28800. However breakdown below 28270,will provide further fall till 38.2% retracement level, i.e., 28322 of the rally from (24654 – 30472).As the overall trend still remains bearish, the pull backs towards 28800 can be utilized for initiating short positions.

TECHNICAL ANALYSIS OF COMMODITY FOR 1 APRIL 2016

GOLD: As expected MCX Gold prices have achieved our short term target of 28630. Counter is trading below its trend line resistance as well as it has has hold 61.8% Fibonacci retracement from its previous bearish move. Moreover, MCX Gold prices are trading below its 100 EMA on hourly chart. The momentum indicator RSI has hold its resistance at 60 levels on hourly chart which add bearishness in the prices. For now we expect prices should move lower towards 28150 levels in the coming trading sessions.

SILVER: MCX Silver prices after witnessing breakdown from symmetrical triangle pattern on hourly chart is able to sustain below its trend line resistance at 36920 levels. On the other hand MCX Silver prices are trading below its 60 EMA on hourly chart. The momentum indicator RSI has drift below 50 levels on hourly chart which add bearishness in the prices. For now we expect prices to move lower towards 35550 levels in few trading sessions.

Fundamental News:   

• Gold prices rose in Asia on Wednesday as Fed chief Janet Yellen painted a more dovish picture on the path of interest rate hikes compared to recent statementsfrom colleagues.  
• Gold futures extended gains from the prior session in European trade on Wednesday, rising to a one-week high as investorsscaled back expectationsfor how soon and how far U.S. interest rates might rise this year.  
• Gold futures edged lower in North American trade on Wednesday, after data showed U.S. non-farm private employment rose more than expected in March, boosting optimism over the health of the labor market.  
• Yellen's comments also contradict a wave of hawkish remarks from several of her colleagues last week,