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Below is Gold Article by Mr. Prathamesh Mallya, AVP- Research, Non-Agri Commodities, and Currencies, Angel One Ltd

GOLD

Gold prices continue to build momentum, adding to the gains from the previous week as it edged 0.63 percent higher to end at 2034.2$ per ounce.

As investors sought protection from the economic unrest and prepared for the release of US inflation data that would provide clues about the future course of interest rates, gold prices rose on Tuesday.

Investors were also keeping an eye on developments in the US banking industry after a Monday Fed survey revealed that banks had tightened credit rules during the first few months of the year.

Outlook: We expect gold to trade higher towards 61410 levels, a break of which could prompt the price to move higher to 61810 levels.

CRUDE

The benchmark crude index NYMEX ended on a higher note, gaining 0.75 percent, adding up to the gains from the previous sessions.

Investors are anticipating April's US inflation data, which may provide further guidance for the Federal Reserve's upcoming rate decision.

Markets are currently pricing in a 83% chance of the US central bank holding rates at their current level in June.

Outlook: We expect crude to trade higher towards 6170 levels, a break of which could prompt the price to move higher to 6290 levels.

BASE METALS

The LME witnessed a mixed trading session, as the exchnage resumed trading post a long holiday weekend. WHereas, the metals pack on the MCX witnessed a mixed session, as MCX Copper, Zinc ended on a lower note, whereas, Aluminium and Lead ended higher.

Investors are awaiting key US consumer prices data, which is to be released later in the day, which would offer additional hints about the Federal Reserve's monetary policy course.

A weaker dollar helped copper prices inch up ahead of important US inflation data, but gains were restrained by forecasts for poor demand and increased supply.

Outlook: We expect copper to trade higher towards 759 levels, a break of which could prompt the price to move higher to 763 levels.

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