Silver is trading in volatile conditions in huge volumes over last three weeks. At this time, market seems to be more volatile and likely to trade lower in coming weeks.
Crude oil has reported negative returns over the week due to strong USD and rising inventories in US. On the other hand, Economic data coming from US is the well supporting factors that it wouldn’t let the stocks to improve in near term. Crude oil is expected to consolidate from current levels with negative bias in the near term and on the other hand natural gas seems to fall as weather is no more a concern now.
Base metals prices were mixed as market conditions remained volatile amid USD fluctuations and some weaker than expected macroeconomic data flow.
Crude oil has reported negative returns over the week due to strong USD and rising inventories in US. On the other hand, Economic data coming from US is the well supporting factors that it wouldn’t let the stocks to improve in near term. Crude oil is expected to consolidate from current levels with negative bias in the near term and on the other hand natural gas seems to fall as weather is no more a concern now.
Base metals prices were mixed as market conditions remained volatile amid USD fluctuations and some weaker than expected macroeconomic data flow.
Zinc prices might face strong resistance in the absence cancelled warrants despite of the fact that there is supply problems associated with it. We are expecting the Zn/Pb ratio is expected be favorable to Zinc next week.
Aluminium, which has been the stable performer among base metals, too shed its earlier gains over the week. Though good amount of cancelled warrants have pushed aluminium prices higher over couple of weeks, over all sell off in base metals and profit booking dragged the prices lower. We are expecting the losses in aluminium would be lower in near term.
Lead has reported hefty gains over the week with over 9.56 percent. The active third month contract has settled at USD2510, up by 9.56 percent. We are expecting lead market to trade range bound to negative biased due to over bought in the recent couple of weeks.
Aluminium, which has been the stable performer among base metals, too shed its earlier gains over the week. Though good amount of cancelled warrants have pushed aluminium prices higher over couple of weeks, over all sell off in base metals and profit booking dragged the prices lower. We are expecting the losses in aluminium would be lower in near term.
Lead has reported hefty gains over the week with over 9.56 percent. The active third month contract has settled at USD2510, up by 9.56 percent. We are expecting lead market to trade range bound to negative biased due to over bought in the recent couple of weeks.
