Gold, Silver, Crude Oil Commodities Outlook : PINC Research
Aluminium prices moved up and are consolidating again. The move is in line with our view of a steady rise in prices of the metal, with choppy interludes along the way.
Zinc prices have begun advancing as per our expectation. In the short term, this move can extend to $2500. Over the medium term we expect broad two way moves.
Copper prices continue to advance firmly and have made a new high. The trend is positive at present and is likely to continue in the same vein. A move below $9200 would be a negative development.
The trend in Gold remains choppy after a strong medium term rally. We continue to expect such trends over the next few weeks. No clear directional thrust is expected in the immediate future. The range is seen at between $1435- 1365.
The price of Silver has moved up during last week. The overall trend remains positive and the steady advance can continue. A rise to $32 cannot be ruled out at present.
The price of crude has begun slipping a bit. This is not a very positive development. A move below $89 can damage the trend.