Gold Silver Reports — Technically now Crude oil is getting support at 3150 and below same could see a test of 3182 level, And resistance is now likely to be seen at 3222, a move above could see prices testing 3250.
Analysis
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GOLD FORECAST: GOLD SEES SHARP RECOVERY AFTER TESTING LOWS NEAR $1200
Gold Silver Reports — A sharp recovery was noted in Gold following the slightly dovish stance of US Fed. COMEX Gold futures soared around a two week high as continued weakness in the dollar following the Federal Reserves cautionary stance on the pace of interest-rate increases this year boosted the sentiments.
SILVER FORECAST: SUPPORTED ON INDUSTRIAL DEMAND
Gold Silver Reports — Silver futures witnessed a mild recovery from lows under $17 per ounce a rebound in Gold futures and a strong undercurrent in Copper prices kept the metal supported.
HEAVY TUMBLE PULLS OIL WELL UNDER $50
Gold Silver Reports — Crude oil futures witnessed a heavy tumble as rising output from the US remained a threat to efforts by other major producers to rebalance the market.
MCX Natural Gas Support Level at 187
Gold Silver Reports — Technically Natural gas market is under long liquidation as market has witnessed drop in open interest by -1.33% to settled at 5476 while prices down 3.4 rupees.
MCX Silver Intraday Trading Zone 39980—41640
Gold Silver Reports — Technically Silver market is getting support at 40287 and below same could see a test of 39980 level, And resistance is now likely to be seen at 41072, a move above could see prices testing 41640.
MCX Copper Support Zone at 382
Gold Silver Reports — Technically Copper market is under short covering as market has witnessed drop in open interest by 1.99% to settled at 15928 while prices up 1.3 rupees.
Now MCX Copper is getting support at 383.8 and below same could see a test of 380.6 level, And resistance is now likely to be seen at 389.5, a move above could see prices testing 392.