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COMMODITY OUTLOOK

DAILY COMMODITY MARKET UPDATES

NEWS IN HEADLINE

* Oil prices dip as markets debate hit from Middle East turmoil

* Oil prices surge on fears of Mideast conflict adding to supply tightness

* Coal industry faces 1 million job losses from global energy transition - research

CHART OF THE DAY

GOLD: GOLD has given a positive closing above 57,000 levels on yesterday’s trading session. Gold Comex is also suggesting a positive opening, and there is a risk of volatility because of the Israel crisis, where 57,000 will be the first support area and 56700 are the next critical support levels. On the upside, at 57800–5800 levels in the minor hurdle above this level, we can expect 58200–58300 levels. Traders are advised to respect the screen and levels because the market may remain volatile. 

OUTLOOK :

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

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

* Base metals: Day trend is indicating sideways to upside in all base metals.

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