On Tuesday Increase in import duty form 10 to 15 percent to protect domestic jeweler industry will help to curb gold prices in Domestic market. At MCX gold for future delivery comes to 29277 on intraday trading by declined more than 1% on Wednesday trade. More declined in observed at MCX while similar fashion is followed by white metal which made a low of 48488 per kg on today trade. Buy gold if it break level of 29650 while sell in deep if turn down below 29250. similarly in silver buy above 49300 with big target and sell in deep if it break a level of 48400.
Fed report is very important aspect on tomorrow session, a high volatility might be seen on evening trade at MCX.
At MCX today crude oil follow a bullish trend and made a high of 6738 for future delivery. Crude oil prices expected to bound in the range 6600 to 6850 in today trade while correction in dollar prices support crude oil at domestic commodity market.
Base metal recover at MCX after morning negative session and expected some positive trend on evening. Buy copper above 459 with small target while if copper fall then sell below 455.50.
nickel and lead also seems positive on today trade , nickel gain more than 1% while lead price at MCX made a high of 130.30 or 0.90%.
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