Gold rose 0.28 per cent while silver gained 0.96 per cent. Copper dipped 0.18 per cent while its base metal peers advanced up to a per cent. Meanwhile, crude oil dipped 0.13 per cent and its peer natural gas was up 1.95 per cent.
NCDEX Agridex, an agricultural futures index that tracks the performance of the ten liquid commodities, was down 0.88 per cent or 9.55 points at 1,084.20 led by gains in guar gum and guar seed.
Here is how SMC Global expects commodities to fare today:
Bullion: Bullion counters may extend the rally where gold may test Rs 55,600 and take support near Rs 54,700 while silver may test Rs 73,600 and take support near Rs 69,800.
Base metals: Base metals may trade sideways with a bullish bias. Copper can move towards Rs 515 and take support near Rs 507. Zinc may move towards Rs 192 and take support near Rs 187. Lead can move towards Rs 155 while taking support near Rs 151. Nickel trade bullish bias where it may take support near Rs 1,060 and resistance near Rs 1,120. Aluminum may move towards Rs 148 while taking support near Rs 144.
Energy: Crude oil may trade sideways with a bullish bias where it may take support near Rs 3,040 and resistance is seen near Rs 3,260. Natural gas may post correction where resistance is seen near Rs 166 taking support near Rs 154.
Spices: Turmeric futures (Aug) is likely to trade sideways to up in the range of Rs 5,750-5,900 taking positive cues from the spot markets. Jeera futures (Aug) is expected to witness a sideways to down movement in the range of Rs 13,800-14,000. Dhaniya futures (Aug) is expected to hold on the support near Rs 6,400, while the upside may remain capped near Rs 6,550. Cardamom futures (Aug) is likely to consolidate in the range of Rs 1,500-1,550.
Oilseeds: Soybean futures (Aug) may continue to consolidate in the range of Rs 3,785-3,840. Going ahead, every dip in Mustard can be taken as an opportunity to accumulate this oilseed, eyeing targets of Rs 5,180-5,210. Soy oil (Aug) will probably trade sideways to up in the range of Rs 870-880, and CPO (Aug) in the range of Rs 735-745.
Other commodities: Cotton futures (Aug) is expected to trade higher towards Rs 16,500-16,550. Chana futures (Aug) would possibly hover sideways in the range of Rs 4,120-4,170. Mentha oil futures (Aug) is likely to trade sideways in the range of Rs 945-960.
