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Below The comment on commodities for Thursday September 21 By Aamir Makda, Commodity & Currency Analyst Choice Broking

Gold:

Gold prices faced the dip on Thursday as US Dollar and US Bond yields surged significantly. This decline in Gold price was triggered by Fed reserve’s indication of an additional rate hike within this year. MCX Gold price is trading near 50-DMA level placed at 59055 and if this support levels break through, we may expect further downfall in Gold price. Here, key support would be at 58750 – 58500.

 
Silver:

Silver price has marginally declined on Thursday, trading near 72500. Silver price has declined due to rise in US Dollar and US Treasury yields post announcement of US Fed rates remained unchanged. On the Daily chart, Silver price remained over the support of 100-DMA level placed at 72110. If price sustains over this support level, we may expect a throwback in Silver price towards its next resistance of 73000.

Crude Oil: Crude 

uture opened gapped lower at 7408 on Thursday and continues its negative momentum for 3rd consecutive session. Crude price showed decline despite of weaker-than—expected Crude inventories released by EIA in the previous session. Price is heading towards the immediate support of the 20-DMA mark placed at 7237 on the Daily chart. If prices break down this support level, we may expect further decline in Crude price towards 7000. Resistance would be at 7510 - 7650

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