PRECIOUS METALS:
Precious metals traded steadied on Friday after three days of declines as the U.S. dollar fall, gold weaken more than silver as gold/silver ratio fall on charts also supporting silver. SPDR Gold Trust GLD, the world's largest gold-backed exchange traded fund, said its holdings stood at 812.46 up 5.64 tonnes, from previous business day. Holdings of the argest silver backed exchange-traded-fund (ETF), New York's iShares Silver Trust SLV, stood at 10366.70 down 29.59 tonnes, from previous business day.
ENERGY:
MCX Crude oil prices fell on outcome of oil producers weekend meeting in Doha, with their failure to reach even a weak agreement showing very publicly their divisions and inability to act in their own interests. Kuwait reduced its crude oil output and refining production on Sunday as part of an emergency plan to help the OPEC member deal with the largest etroleum workers' strike in years.
BASE METALS:
Industrial metals fell on Friday after strong Chinese economic data raised fears that government stimulus programmes in the top metals consumer are not sustainable, and as the market also looked ahead to a key meeting of oil producers. Heavy rains in central Chile have prompted global miner Anglo American Plc and state-owned producer Codelco to temporarily uspend operations at two major copper mines with combined annual capacity of 880,000 tonnes.
MCX GOLD JUNE:
RESISTANCE2:29600
RESISTANCE1: 29300
SUPPORT1:28700
SUPPORT2: 28500
MCX SILVER (MAY):
RESISTANCE2:39500
RESISTANCE1: 39000
SUPPORT1:37800
SUPPORT2: 37400
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