Indian government increased import duty on gold by 2% that now comes to 8% will effect that commodity gold market in this week.
Today bullion open at down side with a small decrement on yesterday closing, gold prices open at 27621 against its last close at 27684. On intraday trade for August delivery gold prices look a mixed reaction at Multi commodity exchange.
S1: 27310, S2: 27000
R1: 29950, R2 28150
While silver are looking bearish on intraday trade at MCX, today it open at 44218 against its last close 44228. On intraday silver prices are looking to break from its opening position and experienced a bearish trend for whole day with small correction.
S1: 43500, S2 43150
R1: 44490, R2: 44650
In base metal a negative trend are looking in today trade at Multi commodity exchange, MCX nickel, copper, lead, zinc all in trading in downside after open with small depreciation.
In energies Crude oil looks bearish on morning session while some positive data must show in today trade with some good movement. Natural gas is bearish for today but some green will watching in evening trade.
Mentha oil is positive for future delivery, today for June delivery it open at 967.90 its yesterday close is Rs 961.10.
Intraday calls
Sell gold August below 27600 tgt 27570, 27500, 27450…………sl 27850
Sell silver July below 44050 tgt 43950, 43870, 43700…….sl 44400
Sell crude oil June below 5350 tgt 5320, 5210, 5300……….sl 5380
Sell lead June below 126.50 tgt 126.20, 125.80, 125…………sl 128
Sell copper June below 422.50 tgt 422, 421.50, 420…………..sl 425
