Commodity Outlook – Copper, Gold, Crude Live Report

On Monday, on 12 November 2016, Copper ended the session at RS. 391.60 per kg. The prices tested a high of Rs. 394.20 per kg and a low of RS. 390.85 per kg. The price of Indian Copper declined as Rs. 398 and 400 resistances kept tough to breach. However, the prices gained above Rs. 394 for a short period. In other words, the prices can move lower until some positives come back. On the higher side Rs. 396 and Rs. 398 per kg are resistance level, whereas on lower side Rs. 385 per kg is the support level.

The purified gold prices were sideways on Monday, keeping levels of RS. 27650 per 10 grams. Till the prices of Gold are below Rs. 28,000 further expectations of hike for Gold is a grim possibility while further pressure can persist. The high of Gold was at RS 27,682 per 10 grams and a low of Rs. 27,415 per 10 grams was tested during the day. The prices closure below Rs. 27,400 per 10 grams will be critical.

Price of Crude Oil increase in the session ending Monday and ended the session with gains to the tune of almost 3.25 percent. The prices of Crude Oil ended the session at Rs. 3587 per barrel, up Rs. 113.

December expiry contract of Crude Oil tested a high of Rs. 3,644 per barrel. A low of Rs. 3500 per barrel was registered during the day. Gains in Crude Oil can take prices towards Rs 3,700 and 3,720 per barrel. On the lower side Rs 3,400 and Rs. 3, 350 per barrel are the noted supports.

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