Indian jewellery demand, central bank buying and India's monetization schemes are likely to influence Gold in a positive way. Meanwhile, dollar strength and supply concerns are chief obstacles.MCX GOLD June contract was trading at Rs 26413 down Rs 42, or 0.16 percent. The GOLD rate touched an intraday high of Rs 26425 and an intraday low of Rs 26360. So far 1094 contracts have been traded. GOLD prices have moved down Rs 78, or 0.29 percent in the June series so far.
Gold prices moved lower for the second straight day. The prices tested a high of Rs 26459 per 10 grams and a low of Rs 26235 per 10 grams. Volumes of Gold are at 11569 on 30 March 2015 and a low of 15662 on 27 March 2015. Open interest was at 4786 compared to 6057 on 27 March 2015. Copper ended the day at Rs 26270 per 10 grams. The prices are resisted at Rs 26500 per 10 grams. On the lower side, the supports are at Rs 26100 per 10 grams.
Indian Rupee is likely to extend weakness seen late yesterday, tracking a rebound in the US currency overseas in early Asian trades Tuesday.Crude Oil has been juxtaposed in the last one week. The prices of Crude Oil ended close to psychological level of Rs 3000 per barrel. The prices ended at Rs 3017 per barrel against Rs 3152 per barrel on 27 March 2015. The prices have moved back from levels of Rs 3270 per barrel.