Bulls Again on the Front Foot in Bullions...

Daily MCX Bulletin

Precious Metals rally is being powerful as heightened expectations for an imminent Federal Reserve rate cut, following a weaker-than-expected August jobs report. A weaker U.S. dollar, making gold more appealing internationally.

Gold

Gold is hovering near record high's around 108000. Support around 107200, break below this level will see profit booking till 106500 mark. Resistance around 108400, further upside move will be expected above 108400 level till 108800 mark.

Silver

Silver witnesses a small profit booking from the higher level's but recovered sharply. Support around 124500 and resistance around 125300 break below 124500 level will see sharp profit booking till 123600 mark.

Copper

Copper indicates continued market optimism, though within a stable trading range. Resistance around 903, break above this level will see upside move till 907-910 mark. On the Other side, support around 896, break below this level will see a downside move till 892 mark.

Crude Oil

Crude oil buoyed by OPEC+’s announcement of a slower ramp-up in production starting October. Support around 5480, break below this level will test 5420-5380 mark. On the other side, resistance around 5600, break and sustain above this level will see upside move till 5680-5730 mark.

Natural Gas

Natural gas setting the stage for upward movement. Support around 272, break below will see more downside move around the 267-262 mark. On the other side, resistance around 278, break and sustain above this level will expect a fresh upside move till 284-288 mark.

Top Pick

Buy Copper around 899. Stop loss below 894.

Target around 906-910