Gold February and Silver March futures are marginally up each at $ 1,217 an ounce and $ 17.212, respectively.Platinum April contract has gained 0.4 percent at $ 989.Gains was noted in the prices of MCX Refined gold. Levels of INR 28,804 per 10 grams was noticed during the closing, with an uptick of 0.63 percent.The prices also surpassed INR 28,850 per 10 grams which means that further appreciation will remain active. If gains occur from here it can take yellow metal towards INR 28,900 and 29,000 per 10 grams. On lower side, Gold will be supported at Rs 28,500 per 10 grams.The high of Gold was at INR 28,857 per 10 grams and a low of INR 28,650 per 10 grams was tested during the day. The prices closure above INR 29,000 per 10 grams will be critical.
Crude Oil and Brent Oil March series have advanced 0.5 percent each at $ 53 and $ 55.51 a barrel, respectively.Natural Gas March expiry is quoted at $ 3.280 - down 0.2 percent.Crude Oil declined in the session ending 23 Jan 2017 and ended with correction to the tune of 0.4 percent.The prices of Crude Oil ended the session at INR 3,625 per barrel, down INR 13. The benchmark expiry contract of Crude Oil tested a high of INR 3,636 per barrel.A low of INR 3,575 per barrel was registered during the day. Losses in Crude Oil can take prices towards Rs 3,500 and 3,400 per barrel.On the higher side Rs 36 and 3,650 per barrel are the noted resistances.
Copper March delivery is up 0.15 percent at $ 2.651.Copper ended the session on 23 Jan 2017 at INR 393.20 per kg. The prices tested a high of INR 399.75 per kg and a low of INR 394.75 per kg.Technical charts suggested that breach below INR 390 per kg will be damaging for Copper. Indian Copper breached important levels of Rs 395 during the day but was not able to cross next hurdle of Rs 400 per kg.A correction from here can take prices close to INR 395 and 392 per kg in medium term. On the higher side Rs 399 and 400 per kg are resistances. The ideal strategy can be to buy Copper on declines. Buying from Rs 390 is expected in Copper today.