Gold prices erased earlier gains to hit a fresh two-week low on Wednesday, as the U.S. dollar firmed after earlier losses amid growing expectations for higher interest rates in the U.S. this year. Expectations of higher borrowing rates going forward is considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery hit an intraday low of $1,184.10 a troy ounce, the weakest level since May 12, before trading at $1,186.40 during U.S. morning hours, down $1.30, or 0.11%.

1. COMMODITY SUMMARY 28.05.15
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Market Highlight
Gold prices erased earlier gains to hit a
fresh two-week low on Wednesday, as
the U.S. dollar firmed after earlier losses
amid growing expectations for higher
interest rates in the U.S. this year.
Expectations of higher borrowing rates
going forward is considered bearish for
gold, as the precious metal struggles to
compete with yield-bearing assets when
rates are on the rise.
On the Comex division of the New York
Mercantile Exchange, gold futures for
August delivery hit an intraday low of
$1,184.10 a troy ounce, the weakest level
since May 12, before trading at $1,186.40
during U.S. morning hours, down $1.30,
or 0.11%.
Crude oil prices edged up on Thursday
morning after a two-day slide, although
high U.S. stocks and strong global
production, along with a firm dollar, were
keeping markets under pressure.
The increases followed two days of steep
falls as a resurgent dollar weighed on the
market amid concerns that U.S. crude
supplies may have started rising again
after three weeks of draws.
Natural gas futures were lower in U.S.
trade on Wednesday. On the New York
Mercantile Exchange, Natural gas futures
for July delivery traded at USD2.837 per
million British thermal units at time of
writing down 0.44%.
SUPPORT AND RESISTANT LEVEL
COMMODITY S2 S1 PP R1 R2
GOLD 26756 26816 26896 26956 27036
GOLD MINI 26779 26839 26917 26977 27055
SILVER 38010 38182 38427 38599 38844
SILVER MINI 38005 38187 38436 38618 38867
COPPER 389.8 391.8 394.4 396.5 399.1
NICKEL 801.30 812.4 818.7 829.8 836.1
LEAD 122.2 123.2 123.8 124.8 125.5
ZINC 137.6 138.85 139.7 140.9 141.7
ALUMINIUM 107.7 108.35 109.5 110.2 111.4
N. GAS 178.3 181.0 184.5 187.2 190.7
CRUDE OIL 3640 3677 3733 3770 3826
MENTHAOIL 900.9 905.2 911.0 915.3 921.1
CPO 452.3 453.9 454.9 456.5 457.5
CARDAMOM 817.2 830.5 838.8 852.1 860.4
POTATO 15886.7 15933.3 15996.7 16043.3 16106.7
COTTON 26756 26816 26896 26956 27036
MCX MARGIN
Commodity
Expiry
Margin
%
Lot
Value(Rs)
Approx
Margin
(Rs)
GOLD
05-Jun-2015 5.00 2689200.00 134460.00
GOLDM 05-Jun-2015 5.00 269170.00 13458.50
SILVER 03-Jul-2015 5.00 1155300.00 57765.00
SILVERM
30-Jun-2015 5.00 192645.00 9632.25
COPPER 30-Jun-2015 5.00 394400.00 19720.00
NICKEL 29-May-2015 6.73 203575.00 13694.38
LEAD 29-May-2015 5.63 618250.00 34813.85
ZINC 29-May-2015 5.00 697250.00 34862.50
ALUMINIUM 29-May-2015 5.00 550750.00 27537.50
N. GAS 25-Jun-2015 7.32 228125.00 16689.98
CRUDEOIL 19-Jun-2015 7.05 372500.00 26266.10
MENTHAOIL 29-May-2015 7.43 330876.00 24574.21
CPO 29-May-2015 5.00 452800.00 22640.00
CARDAMOM 15-Jun-2015 6.57 83130.00 5465.51
COTTON 29-May-2015 5.00 399750.00 19987.50