NEW DELHI: Bullion may put up a mixed show and crude oil is seen to run with a positive streak today, says SMC Global Securities in its commodity report.
What are key commodities up to? Here's a rundown.
Crude oil, natural gas: Crude oil may move with a positive tilt as it can take support near Rs 4,600 and face a wall near Rs 4,680 on MCX. Natural gas may throw up a mixed bias as it can take support near Rs 202 with resistance near Rs 207.
Base metals: Copper can have its source of support near Rs 418 while its upside will be capped near Rs 428.
Zinc corresponding figures are Rs 172 and Rs 177. Similarly, for lead, the levels are Rs 144 and Rs 149.
Nickel is seen to find comfort near Rs 935 while its upside will be limited near Rs 955.
Aluminium can go higher at a support level of Rs 143 with a resistance line near Rs 147 on MCX.
Bullion: Gold's support level is coming up near Rs 29,600 as the metal may run into a hurdle near Rs 29,900 on MCX. Silver's equivalent figures are Rs 37,500 and Rs 38,000. SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, said its holdings dropped 0.19 per cent to 784.60 tonnes on Monday, from 786.08 tonnes on Friday.
Agri commodities: Turmeric futures (September) are expected to trade with a downside bias in the range of Rs 7,050-7,200 levels.
Jeera futures (September) are likely to trade steady in Rs 19,500-19,700.
Soybean futures (October) could see a further downside towards Rs 3,300-3,280.
Cotton futures (October) may witness correction towards Rs 23,550, taking negative cues from the international market.
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