- Priyanka Chopra, Abhishek Bachchan, Mahesh Bhatt slam shooting down of Malaysia Airlines MH17 planeDazed Dutch demand answers after Malaysia Airlines MH17 crashChina's Xi Jinping calls for fair and objective investigation into downing of Malaysian Airlines jetAussie lost kin on both MH 370, MH17; ethnic Indian steward among victims
Precious metal: Gold prices rose sharply on Thursday after a Malaysian Airlines plane crashed in Ukraine amid reports the aircraft was shot down. Investors sought safe harbour in the yellow metal as the dollar slumped on concerns the Russian-Ukraine crisis will heat up anew and dampen U.S. Recovery but Gold futures slipped lower by end of the week, as traders locked-in profits after the precious metal's recent upward movement. The dollar had found support after Ms. Yellen said Tuesday that rates could rise sooner if the economic recovery continued to improve.
Over all, MCX Gold August future is in consolidation and sustaining above the level of 27500. So for the coming week, we are expecting good buying from the lower levels. For the coming week 27500/27200 will act as a major support whereas 28600/29000 will act as a major resistance level in MCX Gold August future. For the next week in MCX Gold, trader can use buy on lower level strategy, if MCX Gold August future sustains above the levels of 27900 then it could test the levels 28600/28900.
Technically, MCX Silver September futures is in consolidation and sustaining in range. For the coming week 48000/49700 will act as a major resistance levels where as 45000/43500 will act as major support in MCX Silver September futures. For the next week in MCX Silver futures, traders can use buy on lower level strategy, if MCX Silver September futures sustains above 45800 then it could test the levels of 47200/ 48000.
Energy:- Crude futures soared last week on reports that a Malaysian Airlines was shot down over Ukraine not far from the Russian border, while weekly U.S. supply report also bolstered the commodity. Oil prices shot up as concerns began to build that the Russian-Ukraine conflict will escalate and disrupt the global flow of crude oil supported by Investors concern over developments in the Middle East as Israel announced start of a ground campaign in Gaza after 10 days of aerial and naval bombardments failed to stop Palestinian rocket attacks.
For the coming week 6000/5800 will act as major supports levels whereas 6400/6550 will act as major resistance in MCX Crude oil July futures. For the next week, trader can use buy on lower level strategy, if MCX Crude July future sustain above 6100 levels then it could test the levels 6400/6550.
Base Metal:- Copper prices dropped to their lowest level in