Today Commodity News Update

Gold prices gave up strength and were unchanged to end the trades at Rs 28080 per 10 grams. Transaction volumes picked up and there has been decrease of long positions. The prices of Gold tested a high of Rs28237 per 10 grams and a low of Rs 28071 per 10 grams was noted.
Silver trading range for the day is 37485-38809. Silver prices settled flat as expectations for a June rate hike surged, after the U.S. economy created more jobs than expected in April, while unemployment fell to its lowest level since May 2007.
Crudeoil trading range for the day is 2769-3109. Crudeoil on MCX settled up 1.3% at 2969 following positive U.S. jobs data and assurances by Saudi Arabia that Russia is ready to join OPEC in extending supply cuts to reduce a persistent glut.
Copper declined sharply in a single session on 8 May 2017. The tormenting by bears halted Copper and the prices have now breached all important Rs 360 per kg levels and have been able to set Rs 350 per kg as next benchmark support. From here the declines can take metal towards Rs 352 and 350 per kg. Copper settled at Rs 356.95 per kg. The session on Tuesday can see Copper in range of Rs 350-365 per kg.

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