BULLION
Spot gold prices traded higher marginally to close at $ 1257.3 per ounce as weakness in the DX coupled with ongoing trade tensions pushed the yellow metal to one week high. Despite escalating trade tensions between US and China gold prices have been falling as markets are pricing in two more rate hikes for the rest of the year. Rising interest rate scenarios does not favour investments in the yellow metal and hence the prices correction. The US economy growing at 4.5 annualised rate in the second quarter and steady dollar are blend of options for gold prices to move down in the coming weeks. MCX gold prices gained 0. 1 percent to trade at Rs. 30650 per 10 gms.
ENERGY
Oil prices widened their losses in American trade on Friday for the second straight session, hitting one-week lows after a surprise US inventory build up while US output steadied at record highs, as prices were also hurt by mounting USChina trade tensions. As of 13:03 GMT US crude fell to $72.40 a barrel from the opening of $73.16 while Brent tumbled to $76.65 from the opening of $77.56, marking June 26 lows at $76.35.
Base Metals
Turkish steel producers have stayed away from the deep-sea scrap market with no cargoes booked between Monday and Friday amid limited domestic and export demand for finished steel products sources told Metal Bulletin this week. After completing their bookings for July deliveries Turkish steel producers went quiet with demand for finished steel in both the local and export markets failing to bounce back after the country’s presidential and general elections in June.
SPICES
Rates shot up for Jeer on rising export and domestic demand amidst falling stocks with rising Dollar vs Rupee providing further support to the market sentiments. Low stocks in International markets and shifting export demand towards India aided by a firm Dollar vs Rupee are also acting as key bullish factors.
Prices firmed up moderately for Turmeric even as good monsoon rains in growing areas in AP kept uptrend limited. As Monsoon is expected to pick up in coming days a strong recovery is unlikely with sowing expected to improve. But rise in export and domestic demand could support prices and prevent too much fall from these levels.

OILSEEDS
Rates shot up for Mentha as rains in growing areas adversely affected the harvesting. However prices seem to face immediate resistance at these higher levels and any clearing of skies could lead to improved harvesting activities resulting in some fall in prices from these levels. Daily demand remains strong enough to absorb supplies.
Firm trend in soybean could help soya oil in giving a higher closing. On going trade restrictions between China and USA had been putting pressure over the soya oil market of late but with China removing import duty on soymeal from India it will be seen as a supportive factor for soy oil to some extent.

GUAR COMPLEX
Guar hit the upper circuit with sentiments gradually changing to a Bullish note with low rains in Rajasthan providing support to the sentiments. Rising crude oil prices and firmness in Dollar vs Rupee supported prices. The bearish impact of favorable Monsoon reports however seem to be gradually getting over. There are expectations that further too much fall from these levels may be limited as they would not be sustainable .
OTHERS
Bullish tone in soybean and palm oil in addition to fresh purchase queries in spot markets kept buyers active the in derivative market yesterday. In coming days slowing arrival impact will be seen as a bullish driver. Reports on nature of demand for DOC will be equally important .
Futures could sustain higher this time as markets had fallen significantly yesterday while there was no major bearish news. Tuesday’s hike in the MSP was influential in keeping prices up this time.
Silver
Last week, spot Silver prices traded marginally higher to close at $16.08 per ounce while MCX Silver prices declined 0.39 percent to trade at Rs.33766. Silver prices surged to one week high as weakness in the DX by 0.6 percent boosted an upside in the bullion metal. Recently market has been broken its resistance trend line on upside and if market sustain above the level of 40000 we can see positive movement in it for short term to mid term basis. On the other side it is having support near the level of 39800.

LEAD
Last week Lead Jul Futures started the week on negative note and continued the same for the entire week. It made a low of 159.05 during the week and closed at on 161.55 with the overall loss of 2.42% on weekly basis. Technically it consolidating above the major support level of 160 with the positive RSI and volume and for this week, we can expect upside movement in it.
For this week, if it breaks the level of if it breaks the level of 162.50 on the upside then it can test the level of 165.50 during the week. One can make buy position in it by maintaining a SL 161.40

Guargum
Guar kept trading firm with intermittent profit booking at the higher levels with sentiments gradually changing to a Bullish note with low rains in Rajasthan providing support to the sentiments. The recent fall in prices have been attributed to good monsoon reports and falling export demand from US oil drilling industry which is now relying more on cheaper substitute of slick water and friction reducer from China. For the next week we are expecting market can trade lower side. If market break the level of 8710 we can see negative movement in if to the level of 8500.

Last week COCUDAKL Futures started the week on positive note and continued trade on range for the entire week. It made a high of 1647.50 during the week and closed at on 1627.50 with the overall gain of 3.28 on weekly basis. Technically market is trading on higher level and trading in overbought zone we are expecting correction from higher side.
For this week, if it breaks the level of if it breaks the level of 1655 on the lower side then it can test the level of 1525 during the week. One can make sell position in it by maintaining a SL 1710
GBPINR
Last week GBPINR Jul Futures started the week on positive note and continued the same for the entire week. It made a high of 91.7500 during the week and closed at on 91.4525 with the overall gain of 1.13% on weekly basis. Technically it consolidating above the major support level of 90 with the positive RSI and volume and for this week, we can expect upside movement in it.
For this week, if it breaks the level of if it breaks the level of 91.7500 on the upside then it can test the level of 92.3475 during the week. One can make buy position in it by maintaining a SL 91.4475

JPYINR
Last week JPYINR Jul Futures started the week on positive note and continued trade on range for the entire week. It made a high of 62.6300 during the week and closed at on 62.4825 with the overall gain of 0.42% on weekly basis. Technically it is making higher highs and higher lows with the positive RSI and volume and for this week, we can expect upside movement in it.
For this week, if it breaks the level of if it breaks the level of 62.4100 on the upside then it can test the level of 62.9900 during the week. One can make buy position in it by maintaining a SL 62.0975


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