GOLD:
Gold trading projected high range for the day is 31192-31315
Gold trading projected low range for the day is 31301-31179
Gold dropped on rupee firmness despite prices rose in international as inflation-hedge appeal of bullion was bolstered.
ECB kept its main interest rate unchanged at 0.75%, while the BoE kept policy on hold at a record low 0.5%.
SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings hit a record high of 1,333.44 tonnes by Oct. 4.
Gold is trading below 50DMA, which is at 31430
Major Resistance on upside at 31235-31394-31553
Trend Deciding Level at 31149
Major Support on downside at 30990-30904-30745
SILVER:
Silver trading projected high range for the day is 62366-62751
Silver trading projected low range for the day is 62569-62185
Silver ended lower tracking weakness in base metals as pressure seen after rupee rallied
Spain saw borrowing costs fall at an auction of government debt, with the yield on five-year bonds dropping to 4.76%
The supportive low interest rate environment and backdrop of further monetary stimulus made further price gains inevitable
Silver is trading above 50DMA, which is at 60608
Major Resistance on upside at 62525-62977-63429
Trend Deciding Level at 62208
Major Support on downside at 61756-61439-60987
CRUDE:
Crude trading projected high range for the day is 4806-4920
Crude trading projected low range for the day is 4899-4865
Crude rose as inflamed tensions between Turkey and Syria, a weaker dollar and refinery fires pulled crude oil prices higher.
Also supporting crude, U.S. inventory levels unexpectedly dropped last week despite an increase in imports.
Geo-political concerns include a dispute in Middle East over nuclear programme in Iran that triggered tough sanctions from US.
Major Resistance on upside at 4767-4820-4871
Trend Deciding Level at 4686
Major Support on downside at 4634-4552-4499
COPPER:
Copper trading projected high range for the day is 436-439
Copper trading projected low range for the day is 438.68-435.52
Copper ended lower as gains were capped by uncertainty about global growth, while trading volumes were low
ECB kept interest rates unchanged, while Draghi said ECB was primed to buy troubled euro zone bonds when conditions were right
Sentiment surrounding U.S. labour market was boosted in previous session after data showed private sector hiring rose
Warehouse stock for Copper at LME was at 223400mt that is down by -50mt.
Major Resistance on upside at 437-441-445
Trend Deciding Level at 435
Major Support on downside at 430.8-428.55-424.5
MENTHOL OIL:
Menthol Oil trading projected high range for the day is 1185-1202
Menthol Oil trading projected low range for the day is 1168-1150
Menthaoil spot is at 1370/-.Spot market is up by Rs.25/-
Mentha oil ended higher due to short covering amid firm spot demand.
In Uttar Pradesh the area has been forecast to rise to 2.10 lakh ha vs 1.75 lakh ha.
Mentha oil arrival reported around 650-700 drums in different spot markets
Major Resistance on upside at 1196-1208-1219
Trend Deciding Level at 1173
Major Support on downside at 1162-1139-1127
Today Commodity Trading Advises:
- BUY CRUDE MCX OCT @ 4720 SL 4690 TGT 4770 {POSITIONAL}
- BUY COPPER MCX NOV ABOVE 433.50 SL 431.50 TGT 435.50-438
- BUY ZINC MCX OCT ABOVE 106.40 SL 105.60 TGT 107-107.8
- BUY SOYABEAN NCDEX NOV ABOVE 2990 SL 2940 TGT 3020-3050
- BUY RMSEED NCDEX NOV ABOVE 3805 SL 3780 TGT 3835-3860