Gold futures ended higher on Monday as the dollar slipped against a basket of major currencies, as investors focused on inflation data due this week that could determine the currency's longer-term trajectory.
Crude oil futures declined on Monday, amid renewed oversupply jitters, following an uptick in US output to a two-year high. Crude futures showed little sign of a rebound, as data showed U.S. production rose to a two-year high while a rebound in Libyan oil output also added to oversupply concerns. It was reported that in Libya, output at the Sharara field, the country’s largest oil field, was returning to normal after a brief disruption by armed protesters in the coastal city of Zawiya.
Comex copper futures ended higher on Monday, while London copper prices hit two-year peaks as soaring steel and iron ore prices in China brightened the outlook for growth and industrial demand in the world's largest metals consumer.
Technical Level
Gold
Support at 28325 and Resistance at 28560
Looks positive and could touch its resistance level of 28560 , Break and sustain above 28560 will take it to 28700----28850 mark in days to come
Else could touch its support level of 28325.
Fresh selling can be initiated below 28325.
Silver
Support at 36900 and Resistance 37400
Break and sustain above 37400 will take it to 37800—38000++ else could touch its support level of 36900 mark.
Fresh selling can be initiated below 36900 mark.
Crude
Support at 3080 and Resistance at 3180---3250
Trading in range.... either side breakout with volume will decide further.
Natural Gas
Support 176 and Resistance 180
Break and sustain above 180 will take it 183—186+++ mark else could touch its support level of 176.00
Fresh selling can be initiated below 176.00
Copper
Support at 405.00 and Resistance at 415
Break and sustain below 405 will take it to 400—398 and then to 395 else could touch its resistance level of 415
Trade with levels only
More will update soon!!
