Comodity Market Update (SILVER PERF CHART)

Gold on CMX is trading slightly lower in a tight range of $10 at $1583 with negative bias, while Silver is trading lower by half a percent at $26.92 and are likely to extend its falling momentum later in the evening, Base metals are trading in red, On LME 3-month copper may test its intraday support around $7375 below which prices can fall further to a level of $7300. On MCX Crude oil prices are likely to trade mixed, with a strong support of Rs.4950 and resistance of Rs.5050. Natural Gas prices may post some intraday correction but we will suggest buying at a lower price rather than considering risky shorts, prices are expected to move higher to a level of Rs.195 in this week.