The MCX Gold futures seem to be facing considerable resistance around Rs 52,250 as per the monthly charts. Similarly, the upside for Silver seems likely to be capped around Rs 64,200-64,750 odd levels
The bias is likely to remain bullish as long as Crude Oil futures sustain above Rs 7,830, below which the next crucial support is at Rs 7,730.
The MCX Gold futures may seek near support around Rs 52,040; whereas Silver futures have multiple key support around Rs 65,235 and Rs 64,600.
The MCX Crude Oil futures may seek support around the 50-DMA at Rs 7,716; while the bias for Natural Gas is likely to remain bullish as long as it sustains above Rs 525.
The MCX Gold futures are likely to face considerable resistance around Rs 53,500-odd levels; MCX Silver futures can test Rs 71,300 on the upside.
MCX Crude Oil futures can test the 20-DMA in the near term placed at Rs 7,900-odd level.
MCX Gold may rally to Rs 53,570 on the upside; break and sustained trade above Rs 52,250 to add momentum.
The official statement released on Saturday said the government plans to allocate 24.4 million tonnes (mt) of wheat and rice for PMGKAY for the next six months starting April 1.
As long as the Russia-Ukraine heat continues, commodities will be the dominating theme versus the consumption theme said B Gopkumar, MD and CEO at Axis Securities.
Under mechanism, Sebi said All In the Money option contracts will be exercised automatically, unless 'contrary instruction' has been given by long position holders of such contracts for not doing so
The dollar index was steady and riskier currencies picked up on Tuesday, as traders bet that the Omicron variant of COVID-19 would not be as severe as previously expected.
The rate of gold jewellery varies across the nation due to excise duty, state taxes, and making charges.
The price of gold differs across the nation owing to excise duty, state taxes, and making charges.
Silver is selling at Rs 63,000 per kg, unchanged from yesterday's trading session.
The price of gold jewellery varies across India, the second-largest consumer of the metal, due to taxes and duties.
If demand remains good, investors can purchase at moderate valuations
Despite base metals showing healthy upside this week, silver continues to drift downside
There are no reversal patterns on chart and support comes around 268 for natural gas
Markets are also jittery at the start of an eventful week that will see the US second-quarter earnings season kick off
The price of 22-carat-gold in Delhi stood at Rs 46,800. In Chennai, the price was Rs 45,500, and in Mumbai, it was Rs 46,980.