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COMMODITY OUTLOOK 

DAILY COMMODITY MARKET UPDATES

NEWS IN HEADLINE

* Oil prices set for dismal week as recession fears mount

* Gold nurses steep losses as dollar rebounds ahead of nonfarm payrolls

* U.S. natural gas storage saw higher-than-forecast 151 bcf draw last week – EIA

CHART OF THE DAY

GOLD:

GOLD witnessed a sharp selling pressure from higher levels ,however 57500 is an immediate support level and 58000 is immediate resistance level . While above 58000 lead further strength towards 58200-58500 zone.

OUTLOOK:

* Bullion: Day trend is indicating to Uptrend in Gold &Silver.

* Energy: Day trend is indicating Downtrend in Crude oil & Natural gas

* Base metals: Day trend is indicating Uptrend in all base metals.

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