Evening Roundup : A Daily Report on Bullion, Energy & Base Metals for 03 August 2022 By Geojit Financial
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BULLION
GOLD
As long as prices stay above the downside hindrance of 51220 region could expect intraday buying in the session ahead. On the other hand, a corrective fall below the same may dent our buying expectation.
SILVER
Intraday weakness may perceive only by direct fall below 57450 region. Botched attempt to activate such trades may set off fresh buying in the later session.
ENERGY
CRUDEOIL
Major weakness may establish only by consistent trades below 7280 region. Which if remain undisturbed could lift prices higher in the session ahead.
NATURAL GAS
A corrective dip below 598 region could trigger fresh selling in the session ahead. Failed to challenge below the same may induce fresh recovery in the session ahead.
BASE METALS
COPPER
Decisive trades which sustain above 651 could lift prices higher in the session ahead. Else hold the same for prices to scale lower.
NICKEL
Broad consolidation likely to progress with thin trades.
ZINC
Intraday move is largely to be southbound if prices stay below upside hurdle of 294 region. But recovery trades above 294 may push prices higher in the session ahead.
LEAD
Weakness may persist towards the immediate price objective of 175 initially or even lower to 173.40 region. Although retreating trades which sustain above 177.70 may bid fresh buying in the session ahead.
ALUMINIUM
Intraday weakness may be seen only by decisive trades below 207.80 region. Else hold the same for prices to rebound higher in the session ahead.
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