Commodity Markets: 27-June-2012 Click on the international market pressure in the domestic market has been witnessed in the gold and silver. Gold and silver, 0.1 per cent to 0.2 per cent Comaks are broken.Crude oil pressure light on Naimaks but the price has come down to $ 79.50. The completely flat on MCX gold is trading around Rs 30,000. By flattening the silver is trading around Rs 53,000.With 0.5 per cent on MCX crude oil is trading at Rs 4550.The pressure is visible on MCX base metals. Aluminum, lead and zinc from 0.25 to 0.4 per cent decline, in the Copper and Nickel are traded flat. On NCDEX, coriander, corn, sugar and jaggery has a 0.5-1 per cent. NCDEX is to get pressure on the spices. Turmeric, cayenne pepper and cumin in a 1 percent decline. GOLD (AUG) - Gold prices held steady above $1,580 an ounce in Europe on Tuesday ahead of this week’s European summit, with investors awaiting more clarity on how euro zone leaders will tackle the bloc's simmering debt crisis. Spot Gold was little changed at $1,584.50 an ounce at 1022 GMT against $1,584.08 late on Monday, while U.S. gold futures for August delivery were down $3.40 an ounce at $1,585.00. Resistance and support levels for the today’s session for Gold AUG contract 2012 are: TREND CONSOLIDATE SUPPORT 1:29807 SUPPORT 2: 29534 RESIST1: 30266 RESIST2: 30452 SILVER (JUL) – Silver futures remain under pressure as signs of slower global growth point to lower industrial demand for the metal. More than half of the world's annual silver output is used in applications like glassmaking, chemicals production and electronics. silver for July delivery, the most actively traded contract, fell 48.2 cents, or 1.8%, to settle at $27.037 a troy ounce on the Comex.Silver is Expected resistance and support levels for today trade are as follows. TREND CONSOLIDATE SUPPORT 1: 54002 SUPPORT 2: 53031 RESIST1: 55557 RESIST2: 56141 COPPER (JUN) –London copper dropped on Wednesday, snapping two straight days of gains, as investors shied away from riskier assets on growing conviction a European summit this week will fail to resolve the region's intractable debt crisis. But signs top copper buyer China may be slowly restocking with prices near 2012 lows are likely to check losses. Three-month copper on the London Metal Exchange fell 0.3 percent to $7,335.50 a ton by 0126 GMT. The most-active October copper contract on the Shanghai Futures Exchange fell 0.1 percent to 53,580 yuan($8,400) a tone, stretching losses to a fourth session..Expected resistance and support level for today trade are as follows. TREND CONSOLIDATE SUPPORT 1: 414.20 SUPPORT 2: 411.30 RESIST 1: 418.80 RESIST 2: 420.50 CRUDE OIL (JUL) -Oil traded below $80 a barrel for a fifth day in New York as rising U.S. crude stockpiles stoked speculation demand will falter, countering signs that output from Iran and Norway will be disrupted. Oil delivery was at $79.45 a barrel, up 9 cents, in electronic trading on the New York Mercantile Exchange at 2:14 p.m. Sydney time. The contract yesterday rose 15 cents, or 0.2 percent, to $79.36, the highest close since June 22. Prices have fallen 23 percent this quarter, the biggest drop since the final three months of 2008.Expected resistance and support levels for the crude JUN contract are: TREND CONSOLIDATE SUPPORT 1: 4478 SUPPORT 2: 4429 RESIST1: 4585 RESIST2: 4643 Share Market tips Commodity tips Free Trial