Commodity Opening Bell

Bullion - Opens on positive Note Gold -30160-30170 Silver -39400-39450 

Energy - Opens on mixed Note Crude Oil -4120-4130 Natural Gas -190-191 

Base Metals - Opens on positive Note Copper -452.50-453 Nickel -862-863 Lead -167.50-168 Zinc - 225.70-226 Aluminium -140.75-141

Commodity Market News ( BUDGET DAY)

Precious metals prices were flat on Wednesday, but dipped slightly after the U.S. Federal Reserve said it would keep interest rates the same, but expected inflation to rise this year.

Precious metals are trading range bound on COMEX today. We expect prices to trade higher for the day, after the U.S. Federal Reserve left interest rates unchanged but hinted at hikes later this year.

Industrial metal copper rose 1 percent on Wednesday as the dollar slid towards its biggest monthly loss against the euro in two years while markets awaited the release of a U.S. Federal Reserve policy statement. 

Crude oil is trading flat on NYMEX today. We expect prices to trade range bound to lower for the day as OPEC's strong compliance with a supply reduction pact offset news that U.S. production topped 10 million barrels per day for the first time in nearly half a century

Commodity Opening Bell

Bullion - Opens on negative Note Gold -29980-29990 Silver -39100-39120

Energy - Opens on mixed Note Crude Oil -4147-4150 Natural Gas -203.203.50 

Base Metals - Opens on negative Note Copper -448-450 Nickel -869-870 Lead -165.20-165.30 Zinc - 227.70-227.80 Aluminium -141.10-141.15

Commodity Market News

MCX Gold opened on negative note, where price fell down for the day, which may consider as profit booking after a long bullish rally. 

MCX Silver has formed rising channel formation, where price has traded above the 50 days EMA. Which is a bullish set up as long as price hovers within the channel. 

MCX Copper price remained mostly sideward during the last session. On the weekly chart, MCX Copper price has formed rising wedge pattern.

MCX Nickel has given rising trend line breakout and traded near two and a half moths high with good consolidation; which indicate bullish rally will continue further.

Crude Oil price opened higher and came down in second half of the sessions. Overall, Prices have been trading in bullish trend; where it has formed rising channel formation on weekly chart.

Natural Gas price has opened on flat note traded sideways for the entire day. On the weekly chart, Natural Gas has been trading between two consecutive trend line; where price has settled near the upper line after the expiry of previous contract.

Commodity Opening Bell 

Bullion - Opens on negative Note Gold -30120-30150 Silver -39600-39700 

Energy - Opens on mixed Note Crude Oil -4210-4220 Natural Gas -197-198 

Base Metals - Opens on positive Note Copper -456-455 Nickel -880-885 Lead -167.70-167 Zinc - 227-228 Aluminium -143.40-143.70

Commodity Market News

Gold rose on Friday, climbing back toward the previous day's 17-month peak as a report of slow economic growth pushed the U.S. dollar lower, days after the greenback was hammered by a senior U.S. official backing a weaker currency. Dollar weakness makes assets priced in the U.S. unit less expensive for holders of other currencies.

Silver touched $17.69, its highest in more than four months. It was strongest weekly rise among precious metals, up 2.4 percent from last Friday's close.

Oil prices settled higher on Friday after hitting three-year highs, with crude also posting a weekly gain as a weaker U.S. dollar underpinned prices. On the supply side, U.S. oil production was expected to soon hit 10 million barrels per day (bpd), putting it on a par with top exporter Saudi Arabia. U.S. oil drillers added 12 rigs this week, the biggest weekly increase since March, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.

We expect Natural gas prices to trade positive on the back of rise in demand.

Commodity Opening Bell

Bullion - Opens on positive Note Gold -30350-30400 Silver -39800-39900 

Energy - Opens on mixed Note Crude Oil -4210-4200 Natural Gas -220-222 

Base Metals - Opens on positive Note Copper -456-457 Nickel -865-870 Lead -167.70-168 Zinc - 220.80-221 Aluminium -143.40-143.50

Commodity Market Outlook

Precious Metals Gold rose to the highest level since August 2016 following weakness in the dollar against its major crosses and after comments from US treasury secretary, who welcomed a weaker dollar. The dollar slumped after Mnuchin told the World Economic Forum in Davos on Wednesday that "obviously a weaker dollar is good for us as it relates to trade and opportunities".

Base metals largely held gains with zinc, nickel and lead at or close to multi-year highs, after comments from U.S. Treasury Secretary Steven Mnuchin saying he welcomed a weak currency punished the dollar. A sharply weaker dollar helped copper to rebound from one-month low despite second day of rapidly rising inventories but rising demand from power and construction segment could keep losses capped for major base metals.

Crude Oil prices hit their highest level since December 2014, lifted by weak dollar and a 10th straight week of declines in U.S. crude inventories. Prices also got support from supply restrictions led by a group of producers around OPEC and Russia, which started last year and are set to last throughout 2018. EIA reported U.S. crude inventories fell 1.1 million barrels in week to Jan. 19, to 411.58 million barrels that's the lowest seasonal level since 2015 and below U.S. five-year average around 420 million barrels.  

Commodity Opening Bell

Bullion - Opens on positive Note Gold -29880-29890 Silver -39000-39080 

Energy - Opens on positive Note Crude Oil -4075-4080 Natural Gas -207-208 

Base Metals - Opens on negative Note Copper -452-451.80 Nickel -806-807 Lead -166.80-166.90 Zinc - 219.20-219.40 Aluminium -142.70-143

Commodity Market News

Industrial metals are trading lower on International bourses today. We expect prices to trade lower to range bound for the day, as official data showed top producer China churned out a record volume of refined copper in December.

Crude oil prices settled higher on Monday after dollar fluctuations and the restart of some Libyan oil fields caused the market to vacillate, with prices testing lower before rallying to levels just below three-year highs.

Precious metals prices held steady on Tuesday, as the dollar pared some losses but remained near a 3- year low amid a surge in global equities after a U.S. government shutdown came to an end.

Bullion - Opens on positive Note Gold -29700-29750 Silver -38900-39000 

Energy - Opens on positive Note Crude Oil -4063-4065 Natural Gas -205-206 

Base Metals - Opens on positive Note Copper -452-453 Nickel -810.50-811 Lead -165.50-165.80 Zinc - 219.20-219.40 Aluminium -141.90-142.20

Commodity Market News

Gold prices have been traded in a tight range in the last week i.e $1335-1342/oz finally declined by 0.2% while MCX gold have risen by 0.62% in the same time frame. Stronger Euro and Weak dollar has been the story so far last week which is favouring the yellow metal. 

The US dollar index touched its three year lows as as markets have grown more confident that a global recovery would outpace U.S. growth. 

Spot silver prices fell 1.5 percent last week to close at $17 per ounce in line with decline in gold prices while weakness in base metals also exerted downside pressure.

Despite a drop in January due to extreme cold in North America, U.S. crude output is expected to soon break through 10 million barrels per day (bpd), challenging top producers Russia and Saudi Arabia. However, it could take time for this expected rise in output to have a substantial impact on global supplies. 

Base metals traded mixed last week as recovery in the DX in the latter half weighed on the counter while strong economic data from China supported the space. MCX base metals traded mixed last week in line with international trends.

Commodity Opening Bell

Bullion - Opens on negative Note Gold -29600-29610 Silver -38900-38950 

Energy - Opens on mixed Note Crude Oil -4025-4030 Natural Gas -202.50-203 

Base Metals - Opens on negative Note Copper -452-453 Nickel -788-790 Lead -165.50-165.80 Zinc - 217.20-217.30 Aluminium -142.50-142.60

Commodity Market News

Gold prices edged up on Friday, supported by a weaker dollar amid worries about a possible U.S. government shutdown, but the precious metal was still on track for its first weekly drop in six weeks.

Spot gold was up 0.3 percent at $1,331.10 an ounce by 0324 GMT. Gold on Thursday touched its weakest level since Jan. 12 at $1,323.70, having fallen from recent four-month highs.

Oil prices fell on Friday on a bounce-back in U.S. production, but ongoing declines in crude inventories curbed losses in the market.

Brent crude futures were at $68.78 at 0128 GMT, down 53 cents, or 0.8 percent, from their last close. On Monday, they hit their highest since December, 2014 at $70.37 a barrel.

Commodity Opening Bell

Bullion - Opens on negative Note Gold -29600-29610 Silver -39020-39050 

Energy - Opens on positive Note Crude Oil -4100-4105 Natural Gas -207.80-208.30 

Base Metals - Opens on positive Note Copper -452-453 Nickel -792-794 Lead -163.50-163.80 Zinc - 218-218.30 Aluminium -140.50-140.60

Commodity Market News

Precious metals are under pressure with gold pulling back from four month highs hit earlier this week as the dollar rebounded amid better economic data. Treasury yields continue to climb with 2 yr. yields holding above 2% as probability of 3 rate hikes by the Fed this year moved above 50%. US Congress has started talks to avert a government shutdown on Friday as the debt ceiling expires.

Base metals were under pressure ahead of the release of data due today where it is expected to show China's economic growth slowed in the fourth quarter. Chile's state copper commission, Cochilco, raised its estimated 2018 average price for metal, pointing to the potential for global supply disruptions in the coming year.

Crude oil is edging higher today after API reported a drawdown of 5.1 million barrels in US oil inventories. Prices however have been capped on forecasts of rising shale output. EIA forecasts that US shale oil production will grow by 111,000 barrels a day to 6.55 million bpd in Feb, a new record. Permian Basin in Texas and New Mexico will account for most of gains.

Commodity Opening Bell 

Bullion - Opens on mixed Note Gold -29250-29260 Silver -39200-39250 

Energy - Opens on mixed Note Crude Oil -3920-3924 Natural Gas -183-184 

Base Metals - Opens on mixed Note Copper -458-460 Nickel -799-798 Lead -163.20-163.30 Zinc - 213.70-213.80 Aluminium -142.10-142.30

Commodity Market News

Gold has opened on negative note after the FOMC meeting but during the day price has recovered and settled on positive note. On the other hand, COMEX Gold hit its two months high and sustained above psychological level of $1300; which indicate bullish move will continue further.

On the daily chart, MCX Silver has given breakout of falling trend and sustained above it. On the other hand, COMEX Silver has also sustained above the falling trendline after one side bullish movement on the daily chart; where it has crossed psychological level of $17.

Copper price has retracted from high after forming a rounding top on daily chart; which suggest upward trend has ended and price may reverse from top.

On the daily chart, Aluminium Price has found the resistance of rising trendline and reversed back from high; which indicate trend reversal for short term. I

Crude oil price has traded above the range bound momentum and made a new high of 3950 levels. Overall, Crude Oil price is in bullish trend where it has given breakout of “pennant” pattern and sustained above it on daily charts.

Natural Gas price has started the day on positive note but after the inventory it has shown further correction and fell down by around 3.1% for the day.

Commodity Opening Bell

Bullion - Opens on negative Note Gold -29080-29090 Silver -38950-39000 

Energy - Opens on positive Note Crude Oil -3930-3950 Natural Gas -192-193 

Base Metals - Opens on negative Note Copper -456.80-456.90 Nickel -786-787 Lead -162.70-163 Zinc - 211.70-211.80 Aluminium -140.50-140.70

Commodity Market News

Gold prices traded on high continues third week where it has shown one-side bullish rally without enabling selling pressure. On the other hand, COMEX Gold hit its two months high and sustained above psychological level of $1300; which create optimistic condition among the traders. Moreover, 21 days EMA supported the prices on daily chart. Furthermore, momentum indicator RSI (14) reading is at 50 levels with positive crossover. Based on the above technical aspects, we expect a bullish movement in MCX Gold price.

MCX Silver has given breakout of falling trend and settled above it. On the other hand, COMEX Silver has also sustained above the falling trendline after one side bullish movement on the daily chart; where it has crossed psychological level of $17.

Copper price has retracted from high after forming a rounding top on daily chart; which suggest upward trend has ended and price may reverse from top.

Aluminium Price has found the resistance of rising trend line and reversed back from high; which indicate trend reversal for short term.