Copper Intraday Tips, Zinc, Lead Trend, Nickel Aluminium Support Resistance Levels, Crude Updates, Gold Updates, Silver Trend For Today 29 August:
Bullion Outlook: Precious metals continues to sustain near the higher levels as investors await speech from U.S. Federal Reserve Chairman to get an idea about further stimulus measures. In opening trade Gold Up Marginally As Dollar Gains. Yesterday Gold futures prices staged a smart recovery to hover around its four months high. Silver futures prices have also seen a set back at the early Globex but we expect it will revive on the back of US GDP which is expected to improve in the closing session.
Base Metals Energy Updates: Euro Looks Likely Headed For Key ResistanceAluminium Inventories Have Declined By 1.7% . RUPEE: Marginally Higher. Oil Tumbles Ahead Of Inventories. Base metals are likely to remain weak in the morning after that Euro-zone equities and improving sentiment along with US economic releases with higher GDP may continue to add gains. We recommend buying at lower levels as better GDP and consumption along with rising confidence in the Euro-zone may continue to support prices.
Gold MCX Oct: S2- 31197 S1- 31254 R1- 31383 R2- 31443
Silver MCX Sep: S2- 59286 S1-59451 R1- 59798 R2- 59944
Copper MCX Nov: S2- 427.1 S1-428.1 R1- 430.1 R2- 431.0
Nickel MCX Aug: S2- 895.7 S1-899.6 R1- 909.7 R2- 914.9
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