Yellow metal ended the session at Rs 29598 per 10 grams on 9 March 2016 against Rs 29809 per 10 grams on 8 March 2016. The prices of Gold are facing resistances at Rs 30100 per 10 grams. The prices tested a low of Rs 29301 and a high of Rs 29718 per 10 grams. Open Interest was 8256 on 9 March 2016 on against 9111 on 8 March 2016. The prices are expected to face supports of Rs 29250 per 10 grams. Gold prices have been in a sharp surge from the end of December when price levels were hovering near Rs 25000 per 10 grams. The prices are now in the range of Rs 29000 and 30000 that is acting as a resistance zone for the metal in March.
Crude Oil prices ended with heavy losses and ended at Rs 2546 per barrel on 9 March 2016 against Rs 2475 per barrel on 8 March 2016. The trajectory for this commodity has been on the upside but after the correction last evening it seems that the volatility will be very high. Short term supports are intact at Rs 2450 per barrel. Open interest declined to 21296 lots on 9 March 2016 against 18644 lots on 8 March 2016. Crude Oil tested a high of Rs 2570 per barrel and a low of Rs 2468 per barrel.
Copper gained marginally and moved near to Rs 335 per kg. The prices have changed the trajectory after declines seen in last evening trades. The metal closed at Rs 334.60 per kg on 9 March 2016 against Rs 333.85 per kg on 8 March 201. After the declines below Rs 335 prices can further move toward Rs 330 per kg on the downside. The prices tested levels of Rs 337.05 per kg as highs and Rs 332.35 per kg as a low. Volumes gained during the session. Copper volumes dipped to 37466 lots on 9 March 2016 against 48414 lots on 8 March 2016 Open interest gained to 13175 on 9 March 2016 against 12296 on 8 March 2016.