Jeera on NCDEX settled down by -1.74% at 19250 on profit booking from higher levels due to lower physical demand. However downside seen limited due to dwindling stocks and restricted arrivals in the major markets of Gujarat.
Jeera stocks in the producing and consuming markets are state to be lower due to fall in output during 2016-17. Jeera output in Gujarat during 2016-17 was estimated lower at 212,000 ton due to fall in acreage, Gujarat Agriculture ministry data showed.
Trading Ideas
* Jeera trading range for the day is 18850-19650.
* Jeera dropped on profit booking from higher levels due to lower physical demand.
* Jeera stocks in the producing and consuming markets are state to be lower due to fall in output during 2016-17.
* NCDEX accredited warehouses jeera stocks gained by 21 tonnes to 2062 tonnes.
GOLD
Gold Trading range for the day is 28432-28652 Gold on MCX settled down -0.09% at 28516 remained roughly unchanged on Monday while sentiments still remain firm as dollar weakness continued to dominate trading on Monday and also provided further net support to gold as prices tested 4-week highs, but prices are liable to correct lower.
Technically market is getting support at 28474 and below same could see a test of 28432 level, And resistance is now likely to be seen at 28584, a move above could see prices testing 28652.
U.S. Gold futures for August delivery rose about 0.1 percent to $1,255.30 per ounce.
Spot Gold was nearly unchanged at $1,255.32 per ounce, as of 0403 GMT. In the previous session, it touched $1,258.79 an ounce, its highest since June 23.
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Jeera on NCDEX settled down by -1.74% at 19250 on profit booking from higher levels due to lower physical demand. However downside seen limited due to dwindling stocks and restricted arrivals in the major markets of Gujarat.
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