Expert Commentary on Commodities Markets Last Week

Posted By : Kishore B.S

Commodity Weekly Report

Bullions

MCX Gold futures continued to waver following the weak undertone in the Indian Rupee and
rose after testing levels under Rs 28k for a brief. The commodity tested highs near Rs 29000 per
10 grams and low during the week was Rs.27855.

MCX Silver July 12 contract showed a sideways trend for the week with the high of 54747
and low of 51201 during the week. In the week prices closed in positive note above from the
previous week closing level of 54,130 levels.

Metal

Aluminum May 12 contract was up during last week . The weekly chart opened at Rs. 108.45
and closed at Rs.111 per k.g, Nickel May 12 contract was up. It opened at Rs.918.4 and closed at
Rs. 922.4 while testing a high of 936. Lead May 12 contract was down, It opened at 110.35 and
closed at 107 while witnessed a low of Rs. 105. Zinc May 12 contract showed a sideways trend.
It opened at Rs. 103.85 and closed at 103.6 with the high of Rs.104.6 and low of Rs.102.6 per
kg.

MCX Copper June weekly chart opened at 431.15 levels and touched the low of 417.25 levels
but closed in the negative note.

Energy

MCX Crude oil opened at 5144. In the week prices moved slightly up, made a high of 5145 and
was not able to breach the resistance level of 5210 . In the week, prices made a low of 4986 and
finally closed in a negative note at 5005.

MCX Natural Gas futures showed up trend during the week. It opened at Rs.134.7 and closed at
150.7 while touched the high of Rs.151.5 on Saturday.

(Inputs: Ms. Ashajyoti Sahoo, A Stock Market Institute Associate, Bangalore)

Cheers!!

Team SMI

www.stockmarketinstitute.org

One Comment

  • Gaurav

    May 21, 2012

    Good post. Can check all the important updates related to commodity market in one place. It will be better if you guys can also suggest some tips.

    Reply

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