Gold futures ended lower on Monday as rising US Treasury yields pushed the dollar higher, while concerns over violence during Catalonia's independence vote at the weekend weighed on the euro.
Crude oil futures settled lower on Monday, amid signs of an uptick in crude output as data showed Opec oil output rose last month. As per the report Organization of the Petroleum Exporting Countries output rose by 50,000 barrels a day in September as the cartel’s overall compliance with its production-cut agreement fell to 86%. Production in Libya rebounded 30,000 barrels a day to 920,000 barrels in September as the Sharara field restarted after a halt of more than two weeks while Nigerian output increased by 20,000 barrels to 1.77 million barrels a day.
Copper futures ended little changed on Monday, while London copper prices improved despite news that Indonesia’s giant Grasberg mine can continue to export copper concentrate even if permit talks are not resolved this month.
Technical Level
Gold
Below 29500 panic remain continue till 29250—29100 mark else could touch its resistance level of 29750 again.
Fresh buying can be initiate above 29500.
Silver
Support at 39250 and Resistance 39600
Break and sustain below 39250 will take it to 38800—38600 and then to 38100 mark else could touch its resistance level of 39600 mark.
Fresh buying can be initiated above 39600
Crude
Support at 3300 and Resistance at 3360
Break and sustain below 3300 will take it to 3260—3230 and then to 3200 mark else could touch its resistance level of 3360 mark.Fresh selling can be initiated below 3300.
Natural Gas
Support at 191.00 and Resistance at 195.00
Break and sustain below 191.00 will take it to 187—185 mark else could touch its resistance level of 195.00.Fresh buying can be initiated below 195.00
Copper
Below 430, panic remain continue till 426—422 mark else could touch its resistance level of 434.
Fresh buying can be initiated above 434 mark.
More will update soon!!
