GOLD
Gold prices
fell by 0.21 per cent on Wednesday at the domestic markets as
investors unloaded
their holdings of the precious metal in advance
of today’s critical Federal Open Market
Committee meeting.The
Federal Reserve could remove a reference to remaining patient from
its minutes, which would provide an indication that the U.S. central
bank is ready to raise
interest rates at some point this year.
However, weak dollar raised the appeal of the bullion as
an
alternative asset. Weaker dollar makes the precious metal cheaper for
those holding other
currencies, thus increasing demand. Gold futures
for April 2015 contract, at MCX GOLD, were trading
at Rs. 25,562 per 10
grams, down by 0.21 per cent after opening at Rs. 25,631 against the
previous closing price of Rs. 25,617. It touched the intra-low low of
Rs. 25,541 till the trading.
CRUDE OIL
Crude oil
prices fell by 3.08 per cent on Wednesday at the domestic markets as
US crude stocks
were forecast to have surged for the tenth straight
week to a new record high, fuelling supply
concerns of a global oil
glut.Crude inventories rose by 10.5 million barrels in the week to
March
13 to 450 million, data from industry group the American
Petroleum Institute showed. Analysts
had expected a 3.8 million
barrel increase. At the MCX, crude oil futures for February 2015
contract were trading at Rs. 2,674 per barrel, down by 3.08 percent,
after opening at Rs. 2,752
against the previous closing price of Rs.
2,759. It touched the intra-day low of Rs. 2,672 till the
trading.
CORIANDER
Coriander
prices fell by 0.92 per cent on Wednesday at the National Commodity &
Derivatives
Exchange Limited (NCDEX) as the adequate stocks
availability in the physical market put
pressure on coriander
prices. At the NCDEX, coriander futures for April 2015 contract were
trading at Rs. 6,976 per quintal, down by 0.92 per cent, after
opening at Rs. 6,952 against the
previous closing price of Rs.
7,041. It touched the intra-day low of Rs. 6,940 till the trading.
Market
Statistics
|
Commodity
|
Trend
|
Support level 2
|
Support level 1
|
Pivot point
|
Resistance level 1
|
Resistance level 2
|
|
Gold
|
Up
|
25414
|
25526
|
25611
|
25723
|
25808
|
|
Crude oil
|
Up
|
2578
|
2622
|
2687
|
2731
|
2796
|
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