Commodity Mcx Market Reviews 21 March

COMMODITY	S1	S2	S3	PIVOT	R1	R2	R3
GOLD	28418	28388	28339	28531	28592	28621	28671
SILVER	40718	40649	40535	40913	41019	41089	41203
CRUDE OIL	3196	3181	3156	3214	3240	3255	3280
NAT GAS	194.6	192.2	188.1	195.5	200.4	202.8	207
LEAD	146.7	145.8	144.4	148.8	149.1	150	151.5
NICKEL	659.5	656.4	651.2	665.5	668.5	671.6	676.8
ZINC	184.5	183.3	181.2	186.3	187.8	189	191.1
ALUMINIUM	124.2	123.8	123.1	124.8	125.6	126	126.7
COPPER	382.7	381	377.8	386.7	388	390	393

Bullion

Bullion Mcx metals are anticipated to open lower however the short term inclination stays optimistic in the midst of dollar downside and prospect of a less hawkish Fed . Remarks from Fed members yesterday showed that the Fed would liable hold up in any event until a June policy meeting to choose whether to lift interest costs once more. Russia produced 14.69 tons of gold in Jan, gain from 14.05 tons in a similar period a year ago. SPDR Gold holdings likewise expanded by 11.8 tons a week ago following a rush seven days before that Gold premiums increased in China to $20/oz. As traders said supply was limited because of tightening import limitations.

Base Metal

Mcx base metals are edging down with respect to the LME and lower risk appetite in worldwide markets may keep on weighing. Copper could see some weight as hitting laborers at Escondida copper mine in Chile, said they would hold negotiations with the organization. Freeport McMoRan Inc's Indonesian unit has continued production of copper accumulate at its mammoth Grasberg mine Floods in Peru could however disturb copper supply in the close term ICSG information demonstrated that the world refined copper market demonstrated a 17,000 tons surplus in December, compared and a 3,000 tons deficiency in Nov.

Energy

MCX Crude may take note of a few additions following prompts from worldwide trade however upside is limited. NYMEX crude oil trades a limited range close $48/barrel in the midst of merged signals. Weighing on cost is desires of an expansion in Libyan supply after late blackout and indications of improving supply from US. US week after week inventory note is relied upon to take note of a 2.6 million barrels increment in US crude oil shares. In any case, supporting cost is downside in US dollar in the midst of Fed vulnerability and market desires that OPEC may expand its production reduce in an bid to help rebalance worldwide market. We may see some unevenness in crude oil value today in the midst of position squaring in front of inventory and contract close yet we could see some selling weight at higher ranges.