Gold:-
Gold futures titled higher as the dollar index lost ground, following an array of data from the US, the world's largest economy, and as the Jackson Hole Symposium in Kansas City proceeds into the second day, with eyes fixed on Federal Reserve Chair Janet Yellen's and European Central Bank President Mario Draught’s speeches later today. Earlier US data showed durable goods order fell more than expected in July, while core orders, excluding transportation, accelerated beyond forecasts last month, as markets await Yellen's speech on financial stability. Now markets look forward to the results of the Jackson Hole Symposium as it moves into its second day.. the Economic Symposium, held in Jackson Hole, Wyoming, is attended by central bankers, finance ministers, academics, and financial market participants from around the world. The meetings are closed to the press but officials usually talk with reporters throughout the day.
Silver:-
Silver futures dropped in American trade as the dollar index edged higher, following an array of data from the US, the world's largest economy, and after the Jackson Hole Symposium started in Kansas City. Silver futures due on September 15 shed 0.30% to $16.972 an ounce from the opening of $17.060, while the dollar index shed 0.27% to 93.30 from the opening of 93.55. Earlier US data showed unemployment claims rose less than expected last week, while existing home sales fell unexpectedly in July, as Fitch Ratings warned that not raising the debt ceiling in the US in the appropriate time could push the agency to reconsider its credits ratings for US treasury bonds.
Crude:-
Oil futures tilted higher ahead of the weekend as the dollar index hit the lowest since August 3, following an array of data from the US, the world's largest energy consumer, and after Hurricane Harvey hit the Mexico Gulf Coast in Texas, at which reside most US oil refinery facilities. The statement issued earlier today said commercial oil inventories fell in July, and the last five-year average fell since the start of this year, while floating inventories started shrinking since June as the Committee asserted its commitment to monitor other factors in the oil markets and study their impact on the process of bringing back balance to the previously bloated crude market. On Wednesday, the Energy Information Administration released its report on US crude stocks, showing a drawdown of 3.3 million barrels in the week ending August 18, adding to the 8.9M drop in the previous reading, and matching expectations, with total stocks now reaching 463.2 million barrels, remaining within the uppermost range on average in this time of year. Otherwise, gasoline inventories fell 1.2 million barrels, while distillate stocks, including heating fuel, stayed the same, both remaining within the uppermost range on average in this time of year.
Copper:
Copper futures rose 0.26 per cent to Rs 36.40 per kg today as participants widened their bets, taking positive cues from the spot market on pick-up in demand. At Multi Commodity Exchange, copper for delivery in the current month contract was trading higher by 95 paisa or 0.26 per cent, to Rs 36.40 per kg with a turnover of 309 lots. The metal for delivery in far-month August contract was up by 70 paisa or 0.19 per cent, to Rs 370.30 per kg with a trade volume of 25 lots. Market analysts attributed the rise in copper futures trade to widening of positions triggered by a firm trend at the physical market.
Zinc :
Supported by an upsurge in demand from consuming industries at domestic spot market, zinc prices traded higher by 0.62 per cent to Rs 171.30 per kg in futures market today as participants built up fresh positions. Zinc is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. The oscillator is showing buy signal for short term the current position is buying. Support for the Zinc is 195. Immediate resistance for Zinc is 203.
Nickel :
The Nickel is in perfect uptrend Currently Nickel is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. The Nickel is now trading in highly overbought level. The oscillator is showing BUY signal for short term the current position is buy Support for the Nickel is 713. Immediate resistance for Nickel is 757
Lead:-
The Lead is in long- medium- short-medium- term bull phase .Currently Lead is moving sideways The oscillator is showing sell signal .In last 1 month volatility is very less Buy the Lead above 163 or buy with strict stop at 147. The oscillator is showing SELL signal for short term Lead is in hold short position. Support for the Lead is 146.Resistance for the Lead is 153..
Aluminum:-
The Aluminum is in perfect uptrend Currently Aluminum is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. The oscillator is showing buy signal for short term the current position is buying. Support for the Aluminum is 128. Immediate resistance for Aluminum is 136 Currently Aluminum is in hold long position Aluminum is moving sideways so short term investor better to buy only above 134.6 or hold with stop at 130.8 The oscillator is showing buy signal.
Commodity Trends:
| R1 | S1 |
| GOLD | 29285 | 28730 |
| SILVER | 39298 | 38415 |
| NICKEL | 757 | 713 |
| CRUDE | 3133 | 3003 |
| COPPER | 430 | 415 |
| LEAD | 153 | 146 |
| ALUMINIUM | 136 | 128 |
| ZINC | 203 | 195 |
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