Gold Silver Reports – Gold traders are still bullish on gold, even after a selloff brought on by expectations of faster U.S. rates increases following the release of Federal Reserve minutes this week.
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Base metals may remain downbeat on China
Gold Silver Reports — Base metals may remain downbeat on China slowdown concerns .Copper may move in the zone of 305-315.
Natural Gas Mcx Trading Zone 132-140
Gold Silver Reports — Crude oil may continue its upside as EIA weekly inventory data to give further direction to the prices. Crude oil (June) can move in zone of 3170-3280 in MCX.
Oil Rose After an Unexpected Drop in Inventories
Gold Silver Reports – U.S. stocks tumbled following their biggest gain in two months, as disappointing results from Walt Disney Co. to Macy’s Inc. raised doubts about the strength of the American consumer. Oil rose after an unexpected drop in inventories, while the dollar fell.
The S&P 500 Index retreated for the first time in four days, while the Dow Jones Industrial Average erased all but five points of its Tuesday advance. Retailers led declines as Disney sank the most since January and Macy’s led a selloff in apparel shares. Energy producers rallied as U.S. oil surged past $46 a barrel. Industrial metals also climbed as Glencore Plc forecast demand will exceed supply. Brazilian shares fell, while the real climbed as the Senate geared up for a vote that could oust the president.
Gold: Hold Shorts Below 1283 Level
Gold Silver Reports – Gold looks like it could continue lower this week & holding below 1263/62 targets first support at 1255 but longs look risky. A bounce from here cannot be ruled out initially, but further losses towards trend line support at 1251/50 would not surprise.
Copper and Base Metals May Witness Bounce Back
Gold Silver Reports – Copper and All Base metals may witness bounce back at lower levels. Copper may move in the range of 303-315. Lead can hover in the range of 112- 119 while zinc can move in the range of 120-126.