Today Gold Mcx Oct trading range for the day is 31385-32895.
The Federal Reserve is planning to buy $40 billion in mortgage securities a month. The purchase is open-ended meaning the Fed will continue to buy the securities until satisfied by the economic conditions; particularly unemployment.
Resistance is at 32612-32894-33175
Trend Deciding Point at 32140
Support at 31858-31385-31103
Today Silver Mcx Dec trading range for the day is 60985-67885.
Silver ended higher as Fed said new round of bond-buying was open-ended and that it would not likely raise interest rates.
Resistance is at 69173-67884-66596
Trend Deciding Point at 644435
Support at 63145-60985-59695
Today Crude Mcx Sep trading range for the day is 5250-5505.
Crude ended with gains as the Federal Reserve’s launch of another stimulus program weakened the dollar. Oil also received a lift from the latest development in the euro zone’s debt crisis. Geopolitical risks have intensified in the oil-producing Middle East and North Africa, which also supported oil markets
Resistance is at 5435-5504-5573
Trend Deciding Point at 5376
Support at 5307-5248-5179
Today Natural Gas Mcx Sep trading range for the day is 159-173.
Natural gas drop after report from U.S. EIA showed U.S. gas provisions rose less-than-expected last week
U.S. EIA said in its weekly statement that natural gas storage in the U.S. rose by 27 billion cubic feet.
Total U.S. natural gas storage stand at 3.430 trillion cubic feet as of previous week.
Resistance is at 169-173-178
Trend Deciding Point at 166
Support at 161-159-154
Today Copper Mcx Nov trading range for the day is 446-461.5.
Copper ruined higher after the U.S. Federal Reserve announced another destructive stimulus plan. Copper early reaction to the Fed’s latest easing efforts was volatile, swinging above and below unchanged levels With the Fed convention now the market’s focus will likely return to China, where spot demand has been lackluster
Warehouse stock for Copper at LME was at 216325mt that is up by 550mt.
Resistance is at 458.45-461.35-464.25
Trend Deciding Point at 453.5.
Support at 450.6-445.5-442.75
Today Nickel Mcx Sep trading range for the day is 915-943.
Nickel wrecked higher after Federal Open Market Committee said it would buy USD 40 billion each month. Fed will augment purchase of long-term bonds by USD 85 billion each month.
Fed’s policy situation arm also said it expects to keep short-term interest rates near zero until at least mid-2015. Warehouse stock for Nickel at LME was at 120883 mt that is up by 67 mt.
Resistance is at 937-943-948
Trend Deciding Point at 928
Support at 923-914-909
Today Commodity Call Advises:
- BUY GOLD MCX OCT ON DIPS @ 32310 SL 32230 TGT 32420.
- BUY CRUDE MCX SEP ABOVE 5400 SL 5360 TGT 5434-5468
- ZINC MCX SEP ABOVE 112 SL 111.40 TGT 112.80-113.50.