NEW DELHI: Bullion counter may trade on a weaker path as gold prices fell in early Asian trade on Tuesday after the dollar rose to a near one-week high on expectation of a smaller interest rate cut by the US Federal Reserve at the end of this month.
Crude oilNSE -0.63 % may trade on mixed as global oil prices inched lower on Tuesday after the International Energy Agency (IEA) said it would act quickly if needed to keep the market supplied amid tensions in the Middle East and traders eye ..
How will commodities fare in the domestic futures trade today? Here is a quick check on projections of various commodities by brokerage SMC Global Securities.
Bullion: Gold can dip lower towards Rs 34,750, taking resistance near Rs 35,200 and silver can slip lower towards Rs 40,700 and resistance near Rs 41,300.
Base metals: Base metals may see an upside. Copper may move higher towards Rs 460, taking support near Rs 452. Zinc can test Rs 194 while taking support near Rs 191. Lead may take support near Rs 151 and face resistance near Rs 156. Nickel may recover towards Rs 1,020, taking support near Rs 980. Aluminium may test Rs 143 while taking support near Rs 140.
Energy: Crude oil may move towards Rs 3,840 while facing resistance near Rs 3,930. Natural gas ma ..
Spices: Turmeric futures (Aug) may witness consolidation in the range of Rs 7,050-7,200 levels. Jeera futures (Aug) is expected to trade sideways to downward in the range of Rs 17,540-17,840. Coriander futures (Aug) may plunge further towards Rs 6,650-6,500 levels.
Oilseeds: Soybean futures (Aug) is expected to take support near Rs 3,540 on reports of lower sowing data this season. Mustard futures (Aug) is likely to remain below the resistance near Rs ..
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