Bullions
Bullion counter can open in red amid weak international markets as US nonfarm payroll data to give further direction
to the prices. Meanwhile movement of local currency rupee can also affect the domestic prices. Gold can move in
range of 28730-29100 while silver can move in range of 39250-40150 in near term. Gold prices have eased as the US
dollar has rallied after a report showed that the US economy created more private-sector jobs than expected in May,
further strengthening expectations for a June interest rate. The ADP figures come ahead of the US Labor
Department's more comprehensive non-farm payrolls report on Friday, which includes both public- and private-sector
employment. Also weighing on gold was the firmer dollar index , which extended gains after the ADP data, already
supported by higher US Treasury yields and solidifying expectations of a rise in US interest rates this month.
Base metals
Base metals complex may slide further lower on easing of supply corners. Copper may move in the range of 365-371.
Aluminum can move in the range of 123-125 in MCX. Nickel can move in range of 565-580. Lead can hover in the
range of 133-136.Zinc may move in range of 163-166. Copper and nickel prices inched down on Friday, undermined
by concerns over weakening demand and oversupply. Argentina's government will sign an agreement with provincial
governors on Monday to unify some policies regulating the mining sector. President Donald Trump on Thursday said
he would withdraw the United States from the landmark 2015 global agreement to fight climate change, a move that
fulfilled a major campaign pledge but drew condemnation from U.S. allies and business leaders.
Energy
Crude oil can open in red as it can move in range of 3140-3180 in MCX. Oil prices dropped on Friday amid worries that
U.S. President Donald Trump's decision to abandon a global climate pact could spark more crude drilling in the United
States, stoking a persistent glut in global supply. Commodity markets were absorbing news the United States would
withdraw from the landmark 2015 global agreement to fight climate change, a move that fulfilled a major campaign
pledge but drew condemnation from U.S. allies. A week ago, the Organization of the Petroleum Exporting Countries
(OPEC) and some non-OPEC members met in Vienna to roll over the output cut deal to reduce 1.8 million barrels per
day (bpd) until the end of next March. Rising output from Nigeria and Libya is also undercutting the oil producers'
attempt to limit production. Nigeria and Libya are exempted from crimping output as they seek to restore supplies
hurt by internal conflicts. Natural gas can move in range of 190-198
More will be update soon!!
