BULLION

Gold prices edged higher early Monday, moving closer to a 2-1/2-month peak hit last week, as Asian shares fell amid rising political tensions and worries over slowing global economic growth. Spot gold was up 0.1 percent at $1,227.56 an ounce at the time of writing. On Oct. 15, the bullion touched its highest since July 26 at $1,233.26. Asian share markets fell anew on Monday as investors braced for the peak of the U.S. earnings season while angst over Saudi Arabia, Italy and Brexit kept geopolitics front at the canter.

ENERGY

Oil prices edged up on Monday as markets were expected to tighten once U.S. sanctions against Iran's crude exports are implemented next month. Front month Brent crude oil futures were trading at $79.88 a barrel at the time of writing 10 cents above their last close. U.S. West Texas Intermediate crude futures were at $69.31 a barrel 19 cents above their last settlement.

The Energy Information Administration released its report on US natural gas stocks showing a build of 81 billion cubic feet in the week ending October 12, adding to the 90 billion increase in the previous reading while analysts expected an 85B addition. 

Base Metals

London copper prices rose for a second session in early Asian trade on Monday, extending a rally fuelled by a pledge from China's central bank that it would support firms with liquidity problems. Three-month copper on the London Metal Exchange edged up 0.3 percent to $6,236.50 a tonne at the time of writing, extending a 1 percent jump from the previous session.

SPICES

Trend remained Bullish for Jeer last week as falling stocks amidst rising export and festive season domestic demand supported pries. With sowing apprehended to fall in Gujarat/Rajasthan due to less rains received this year it may support prices further.

No strong movement was noted for Turmeric last week as prices found immediate support at these levels. But high stocks amidst lack of very strong demand kept pressurizing prices. Technically trend did not look very positive for now.



OILSEEDS

No strong movement was noted for Mentha last week as rising demand supported prices while Punjab Govt imposing ban on Gutka and Pan Masala limited strong recovery. Overall sentiments look positive ahead of an expected pick up in export and domestic demand during winter.

Bullish trend was noted for Ref Soy Oil in the International markets and that supported the domestic markets. Rising Festive season demand further supported prices in India as overall trend looks moderately positive in the near term.

GUAR COMPLEX

Bullish trend was noted for Guar last week on apprehensions of lower production from less rains received in Rajasthan. Reports of lower arrivals of the new crop amidst prospects of fall in sowing area in Rajasthan are likely to support prices in medium term. With low rains reported in West Rajasthan and excess rains reported in East Rajasthan this year market sources believe both these factors to be damaging for the crop.

OTHERS

After the initial recovery seen in prices for Soy bean profit booking was noted ta the higher levels even as moderately firm trend was noted in oil complex sector in the International markets. Slight firm USDA report pushed prices slightly higher at close.

No strong movement was noted for RM Seed last week but prices found some support at the lower levels as all eyes remain on the sowing aspects. Lower rains in Rajasthan could adversely affect the sowing process there leading to some support for the prices.

DHANIYA
Last week Dhaniya started a week on positive note and continue the same for the whole week. On its daily chart Dhaniya forming double bottom formation on lower level indicating positive trend in it. Las week Dhaniya made a high of 5750 and closed at 5646 with overall marginal gain of 7% on weekly basis. For this week, if it breaks the level of 5780 on the upper side then it can test the level of 5910 during the week. One can make buy position in it by maintaining a SL at 5752

GUARGAM
From last couple of trading weeks Guargum is trading with positive sentiment and recently market has broken its important level of 10,000 and sustaining above it indicating further positive movement In it. On its daily chart RSI is trading in positive territory and printing above the level of 50 indicating short term to mid term positive movement in it. Last week Guargum made a high of 9932 and closed at 9806 with overall marginal gain of 6% on weekly basis. For this week, if it breaks the level of 10115 on the upper side then it can test the level of 10335 during the week. One can make buy position in it by maintaining a SL at 9990

ALUMINIUM
Last week Aluminium started a week on negative notes but found enough support near the level of 147 and sustaining above it. Last week Aluminium made a low of 147.25 and closed at 147.95 with overall marginal loss of 1.37% on weekly basis. On its daily chart Aluminium is forming bullish spinning top candlestick pattern indicating positive trend in it. For this week, if it breaks the level of 149.30 on the upper side then it can test the level of 154.30 during the week. One can make buy position in it by maintaining a SL at 147.90.


GOLD
From last couple of trading weeks Gold is trading in range between the level of 32100-31800 and forming descending triangle formation on higher level. Last week Gold made a low of 31783 and closed at 31902 with overall marginal gain of 0.18% on weekly basis. On its daily chart Gold is forming lower highs formation indicating negative trend in it. For this week, if it breaks the level of 31780 on the lower side then it can test the level of 31352 during the week. One can make sell position in it by maintaining a SL at 31911

USDINR
From last couple of trading weeks USDINR is trading with negative sentiment and unable to break the level of 75.0000. Last week USDINR made a low of 73.3500 and closed at the level of 73.3900 with overall marginal loss of 0.425 on weekly basis. USDIR continuously making lower lows and lower highs formation indicating correction in it. For this week if it is break the level of 73.3500 on lower side then it can test the level of 73.9125. One can make sell position in it with SL of 73.6125

EURINR

Last week EURINR started a week on negative note but found enough support near the level of 84.0000 and get bounce back from lower level. Last week EURINR made a low of 84.1625 and closed at the level of 84.2325 with overall marginal loss of 1.46% on weekly basis. On its daily chart EURINR taking support of Ichimoku cloud and forming reversal formation on lower level. For this week if it is break the level of 85.0000 on upper side then it can test the level of 85.4550. One can make buy position in it with SL of 84.6925

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