BULLION
Last week, spot gold prices traded lower by 0.2 percent to trade at $1210.24 per ounce while MCX gold prices increased by 0.5 percent to Rs.29630 per 10 gms. Rising dollar on hopes or rising interest rates in the US and strong demand for US Treasury bonds, refuge from trade tensions are near term push factors for the yellow metal.We expect gold prices to trade lower today as fall in Turkish Lira and trade tensions between US and Turkey is leading all the investments to move in to dollar and yen in turn pressurising all the commodities including gold and silver.
ENERGY
Oil prices dipped on Monday as rising trade tensions and economic woes in emerging markets dented the outlook for fuel demand growth but U.S. sanctions against Iran still pointed towards tighter supply.Front month Brent crude oil futures were at $72.57 per barrel at 0702 GMT down 24 cents or 0.3 percent from their last close.U.S. West Texas Intermediate (WTI) crude futures were at $67.43 a barrel down 20 cents or 0.3 percent from their last settlement.
The Energy Information Administration released its report on US natural gas inventories, showing another build up of 46 billion cubic feet in the week ending August 3 adding to the 35B increase in the previous week while analysts expected a 49B addition. 

Base Metals
Aluminium will now be 20% and steel 50%. Our relations with Turkey are not good at this time Trump added.Turkey exported 1.8 million tonnes of steel products worth about $1.2 billion to the USA in 2017. The shipments to the US accounted for about 9% of Turkey's total steel exports according to the Turkish Steel Producers Assn. Market participants in Turkey were mostly shocked by the decision and believe that Turkish exports into the US will completely stop sources told Metal Bulletin.
SPICES
Moderate weak trend was noted for Jeer last week as demand faltered at the higher levels after the recent highs. Even as overall sentiments remained firm on rising export and incoming Festive season domestic demand amidst falling stocks in Indian and International markets some more short term dips are not ruled out as traders wait for corrections before initiating fresh demand in the mandis.
April turmeric had posted high above 8000 last year amid expectations of rising export prospects and talks of lower sowing prospects versus last year but could not sustain above 8000. Total demand is expected at 105 lakh bags approx as per traders.

OILSEEDS

Even as some profit booking was noted towards end of the week, overall sentiments looked firm for Mentha as arrivals started coming down. With harvesting getting over, the export and domestic demand for the new crop is on the rise.
Ref Soy Oil is likely to open the week on a Bearish note as USDA reports for edible oils could pressurize market sentiments. With Monsoon activities too improving over Central and North-West India, this factor too has been pressurizing the entire oil complex sector on prospects of better sowing for Soy bean.

GUAR COMPLEX
Bullish trend prevailed for Guar last week with markets hitting upper circuit, as lower rains in North-West regions of Rajasthan kept apprehensions of lower sowing. Rising export demand amidst falling stocks are likely to support prices in long term. Earlier, lower rains in Rajasthan had provided support to prices as that reportedly has adverse impact on sowing. Bearish impact of rains may be limited with prices having fallen a lot and are at very low levels.
OTHOERS
Near term sentiments remained weak for RM Seed with reports of NAFED agency given permission to sell mustard in open market even s immediate support is seen near the 4000 mark. However, at these lower levels, sellers might refrain from fresh deals in mandis, and this might prevent any sharp fall in futures prices from current levels.
Soy bean futures failed to maintain strength amid lack of fresh buying interest and nominal export query for soy meal. With current spot prices turning cheaper demand prospects is most likely to improve in near term.
Gold
From Last couple of weeks MCX Gold continuously trading in range between 29800 - 29500. On its 4 hourly chart market recently broken its resistance trend line and sustaining above it indicating short term positive trend. Last week Gold made a high of 29815 and closed at 29783 with overall marginal gain of 1% on weekly basis. For this week, if it breaks the level of 29,900 on the upper side then it can test the level of 30,300 during the week. One can make buy position in it by maintaining a SL at 29,825
Nickel
Last week Nickel open with positive sentiment and continue the same for the whole week. Last week Nickel made a high of 969.50 and closed at 952.50 with overall marginal gain of 2.80% on weekly basis. For this week, if it breaks the level of 985 on the upper side then it can test the level of 1025 during the week. One can make buy position in it by maintaining a SL at 964.
Chana
Chana market continuously trading above the important psychological level of 4000 from last couple of week and we believe that market can continues its positive trend. Last week Chana made a high of 4,297 and closed at 4,288 with overall marginal gain of 0.30% on weekly basis. For this week, if it breaks the level of 4405 on the upper side then it can test the level of 4535 during the week. One can make buy position in it by maintaining a SL at 4350
CASTORSEED
Last week Castor open with positive sentiment but found enough resistance near the level of 4800.Last week Castor made a low of 4,603 and closed at 4,714 with overall marginal loss of 1% on weekly basis. On its daily market is continuously making higher highs and higher lows indicating negative trend for short term to mid term basis. For this week, if it breaks the level of 4600 on the lower side then it can test the level of 4470 during the week. One can make sell position in it by maintaining a SL at 4655

GBPINR
Last week GBPINR open with negative sentiment but found enough support near the level of 88.0000.Last week GBPINR made a low of 88.0925 and closed at 88.1875 with overall marginal loss of 1.80% on weekly basis. On its hourly chart market is forming bullish flag pattern indicating positive trend for this week. For this week, if it breaks the level of 89.0000 on the upper side then it can test the level of 89.5975 during the week. One can make buy position in it by maintaining a SL at 88.6975
EURINR

From last couple of trading weeks market is trading with negative sentiment. It made a low 78.7500 and facing support near the level of 79.0000 and getting bounce back from lower level. Last week EURINR made a low of 79.1425 and closed at 79.2175 with overall marginal loss of 1% on weekly basis. On its hourly chart market is forming bullish flag pattern indicating positive trend for this week. For this week, if it breaks the level of 80.0100 on the upper side then it can test the level of 89.5975 during the week. One can make buy position in it by maintaining a SL at 88.7975
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