{"id":84565,"date":"2018-07-06T12:15:58","date_gmt":"2018-07-06T12:15:58","guid":{"rendered":"https:\/\/www.bnreport.com\/commodity-outlook-buy-gold-on-dips-sell-natural-gas-on-rise\/"},"modified":"2018-07-06T12:15:58","modified_gmt":"2018-07-06T12:15:58","slug":"commodity-outlook-buy-gold-on-dips-sell-natural-gas-on-rise","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/commodity-outlook-buy-gold-on-dips-sell-natural-gas-on-rise\/","title":{"rendered":"Commodity outlook: Buy gold on dips, sell natural gas on rise"},"content":{"rendered":"

Gold<\/a> rose to the highest level in a week on Thursday, primarily on back of softening dollar. However, overall volatility for the yellow metal was low as the US market was shut on account of Independence Day on Wednesday. <\/p>\n

Trade tensions continued to linger, with the US expected to impose tariffs on $34 billion in Chinese goods on Friday and China, in the recent past, has announced it will retaliate with its own duties on US products. <\/p>\n

Base metals continued to crack for yet another session, with copper<\/a> and zinc<\/a> sliding to fresh lows as speculators stepped up selling ahead of new trade tariffs on goods from China and US which could dampen demand for industrial metals. <\/p>\n

In energy, crude oil traded lower, losing some steam after two successive days of gains after US President Donald Trump sent tweet demanding that Opec<\/a> reduce prices for crude. <\/p>\n

Here's a lowdown on how key commodities are likely to shape up in the evening trade, as provided by Motilal Oswal Financial Services.<\/em> <\/p>\n

MCX Gold:<\/strong> MCX Gold has immediate support at Rs.30550 \/ 30470, whereas resistances are at Rs.30650 \/ 30750. Trend remains positive as long as price holds above Rs.30470 level. Also, depreciating INR is supporting prices on MCX. Dip buying is advised. <\/p>\n

Gold (SPOT):<\/strong> Spot Gold has immediate resistance at $1257 whereas supports are placed at Rs.1250 \/ 1246. As long as above $1246, dip buying is advised. <\/p>\n

MCX Silver<\/a>:<\/strong> MCX silver (Sept) has immediate support at Rs.39650 \u2013 39550, whereas resistances are at Rs.39950 \u2013 40050. Broadly, trend remains positive as long as price holds above Rs.39400. Buying near immediate support is advised. <\/p>\n

Silver (SPOT): <\/strong>Spot Silver has strong support at 15.90 \/ 15.75 whereas resistances are at 16.02 \/ 16.15. Bias remains positive as long as 15.75 is held. <\/p>\n

MCX Copper:<\/strong> Short-term trend for MCX Copper remains bearish below Rs.448. Immediate supports are at Rs.437 \u2013 436, whereas resistances are at Rs.441.50 \u2013 443. <\/p>\n

MCX Nickel:<\/strong> MCX Nickel has strong resistances at Rs.990 \u2013 995 levels. Supports are at Rs.975 \u2013 965. Selling near resistance is advised. <\/p>\n

MCX Crude Oil:<\/strong> MCX Crude Oil continues to rise and bias remains bullish as long as price stays above Rs.5050 level. It has immediate support at Rs 5110 \u2013 5090 levels and resistances at Rs.5160 \u2013 5190 zone. <\/p>\n

MCX Natural Gas<\/a>:<\/strong> MCX Natural Gas remains bearish below Rs.200. Immediate resistance is at Rs.197.50 and supports are at Rs.195.50 \/ 194. Selling on rise is advised. <\/p>\n

MCX Lead<\/a>:<\/strong> MCX Lead has immediate supports at Rs.162 \u2013 161 whereas resistances are at Rs.164 \u2013 165. Sideways consolidation is likely for the session. <\/p>\n

MCX Zinc:<\/strong> Short term trend remains bearish in MCX Zinc as long as Rs.195 is capped as resistance. Immediate supports are at Rs.188.50 \u2013 187, whereas resistances are at Rs.190 \u2013 191. <\/p>\n

MCX Aluminium:<\/strong> MCX Aluminium remains bearish below Rs.147.50. Immediate resistances are at Rs.145.70 \u2013 146.20, whereas supports are at Rs.144.50 \u2013 143.50. <\/p>\n

MCX Brass<\/a>:<\/strong> MCX Brass looks to trade in range Rs.340 \/ 380. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

[contf]
\n[contfnew]
\n <\/p>\n

ET Markets<\/a><\/h5>\n

[contfnewc]
\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold rose to the highest level in a week on Thursday, primar..<\/p>\n","protected":false},"author":1,"featured_media":84566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-84565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nCommodity outlook: Buy gold on dips, sell natural gas on rise - Business News Report<\/title>\n<meta name=\"description\" content=\"Gold rose to the highest level in a week on Thursday, primar..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/commodity-outlook-buy-gold-on-dips-sell-natural-gas-on-rise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commodity outlook: Buy gold on dips, sell natural gas on rise - 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