Evening Roundup : A Daily Report on Bullion, Energy & Base Metals for 16 May 2023 By Geojit Financial
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BULLION
Gold
Range bound trades with mild negative bias expected in the intraday. A dip below 60400 may consider as early sign of weakness. Rebound may sustain above 61150.
Silver
Weakness is expected to continue if prices dip below 72400 region. Whereas a voluminous rebound above 73800 may strengthen the prices.
ENERGY
Crude Oil
A voluminous break above 5870 region may strengthen the prices. Weakness expected only below 5710.
Natural Gas
Extended gains above 196 may strengthen the prices for the day. Weakness may extend if prices dip below 185.
BASE METALS
Copper
Weakness may extend if prices dip below 719.70 region. Steady recovery above 727 may strengthen prices.
Nickel
Thin volume trades seen.
BASE METALS
Zinc
Mild weakness may persist in the counter. Whereas, a rebound above 228.20 may strengthen the prices for the day.
Lead
Steady gains above 185.70 may strengthen the prices. Weakness expected only with dip below 183.80.
Aluminium
Rebound above 210.50 region may strengthen the prices. Weakness expected below 205.40.
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