Gold falls slightly, extends U.S. losses

             Gold futures are trading modestly lower in the early part of Tuesday’s Asian session after fears over Cyprus’ imperiled financial state ebbed Monday. 

On the Comex division of the New York Mercantile Exchange, gold futures for June delivery are off 0.08% at USD1,605.15 per troy ounce in Asian trading Tuesday after settling down 0.23% at USD1,604.25 a troy ounce in U.S. trading on Monday. 

Gold futures were likely to test support USD1,590.80 a troy ounce, last Monday's low, and resistance at USD1,615.80, Thursday's high. 

Traders moved away from gold Monday after euro zone finance ministers and the International Monetary Fund approved a EUR10 billion rescue package for Cyprus provided the country close up its second-largest lender, Laiki Bank. 

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Oil down despite Saudi comments

                  
                 Oil futures are trading slightly lower during Tuesday’s Asian even after a Saudi Arabian official said the kingdom is comfortable with prices of around $100 per barrel. 

On the New York Mercantile Exchange, light, sweet crude futures for May delivery fell 0.11% to USD94.70 per barrel in Asian trading Tuesday after settling up 0.48% at USD94.16 a barrel on Monday in the U.S. 

Oil futures got a boost Monday after euro zone finance ministers and the International Monetary Fund approved a EUR10 billion rescue package for Cyprus provided the country close up its second-largest lender, Laiki Bank. 

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Gold extends losses despite euro zone concerns

                      Gold extended losses in Asian trade Tuesday despite lingering concerns over euro zone's banking systems.

Gold for immediate delivery was seen trading at $1601.32 an ounce at 12.00 noon Singapore time while US gold was seen at $1600.48 an ounce.

Analysts said gold is likely to remain steadied during the day as it's safe-havendemand ebbed after Cyprus clinched a last-ditch rescue deal.

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Natural Gas gains as cold weather keeps grip on eastern U.S.

                       Natural gas futures rose on Monday as below-normal temperatures continued to hover over the eastern U.S., while weather forecasting services predicted another delayed arrival to springtime warming trends. 

On the New York Mercantile Exchange, natural gas futures for delivery in May traded at USD3.955 per million British thermal units, up 0.08%.

The commodity hit a session low of USD3.954 and a high of USD4.014.
Updated weather forecasting models on Monday pointed to below-normal readings staying in place for most of the eastern half of the U.S. over the next ten days, which sent prices rising.

The heating season from November through March is the peak demand period for U.S. gas consumption, though shifting weather patterns have many speculating a rally will last through the end of the month. 

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MARCH-26th INTRADY LEVELS FOR MCX COMMODITY MARKET

26-MARCH-2013	RESISTANCE LEVELS	SUPPORT LEVELS

COMMODITY	RES-1	RES-2	RES-3	SUP-1	SUP-2	SUP-3
ALUMINIUM	104.40	105.20	105.65	103.15	102.70	101.90
COPPER	419.15	421.20	423.15	415.15	413.20	411.15
CRUDEOIL	5198	5240	5281	5115	5074	5032
GOLD	29731	29875	30069	29393	29199	29055
LEAD	118.55	119.35	119.95	117.10	116.45	115.65
NATURALGAS	217.80	219.90	221.50	214.10	212.60	210.40
NICKEL	926.90	933.30	938.10	915.70	910.90	904.50
SILVER	54497	54781	55223	53771	53329	53045
ZINC	105.10	105.80	106.45	103.75	103.10	102.40

For More Details Please Visit WWW.MCXFREETIPS.COM

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