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Intraday trend for Gold is sideways to negative. Benchmark
Gold down on Thursday, on positive jobs data & ahead of
payrolls data. Domestic prices breached the support 29500
and extended the prices towards 29360. Intraday if gold
breaches 29350, could see the prices pushing towards
29250/29100. On the other side resistances at 29550/29750.
Share Market start mixed due to poorRupees and weak International market signals. However, in earlytrading fluctuation, market is showing increased selling pressure fortraders in the stock market.
In morning 10:41, the sensex fell-161.16 points 18571.88 and Nifty down -51.70 points at 5490.55.However midcap stocks are strong and small caps socks are sluggish.
FMCG stocks are broken 2 percent.Metal, auto, capital, goods, and power stocks are broken 1 to 0.50percent.
In Nifty stocks- ITC, Ultratech Cement,Hindalco, Asian Paints, Tata Motors, Tata Power, Ambuja Cement,Jindal Steel, and NDMC Stocks has broken 3 to 1.5 percent.
There was weakness in U.S. markets onWednesday From September 3 to Qi suspected of 0.5 per cent in the DowJones and Nasdaq declined 0.75 per cent.
In the International Commodity Market,Crude Oil, Gold and silver have seen a decline in the internationalmarket.Gold after good economic data in the U.S. Is broken. Comexgold is trading in at 1279.31 dollar per ounce. Remain silver hasbeen trading above 19.742 dollar.
Cruoil Oil is showing position ofweakness. NIMX Crude oil is trading slightly above $105 a barrel. Abrant red light crude oil is trading slightly above $108 dollars.Copper is trading down with light loss in Londaon Metal Exchange.
Experts suggested gold trading range for the day as 27711-28097 . Traders have to be extra careful while trading in commodities as commodity market is highly price volatile.