Support for gold at Rs 16621-16515: Hem Securities

Hem Securities has come out with its commodity report. According to research report the support for Gold remains at Rs 16621-16515 per 10 gram it has resistance at Rs 16793-16859 level.

Hem Securities research report:

Copper 

The support for copper remains at 339/335 while it has resistance at 345/347 level. India copper futures traded weak on Tuesday afternoon as a strong dollar. 

Crude 

The support for Crude remains at 3681/3638 while it has resistance at 3750/3776 level. Oil traded above $81 a barrel in New York on optimism fuel demand will recover after imports in China, the world's second-biggest energy consumer, rose more than estimated. 

Gold 

The support for Gold remains at 16621/16515 it has resistance at 16793/16859 level. Gold in New York fell as the a strengthening dollar reduced demand for the metal as an alternative asset and China said bullion probably won't be the country's main reserve investment. 

Silver 

The support for Silver remains at 26632/26231 while it has resistance at 27262/27491 level. Silver fell as the a strengthening dollar reduced demand for the metal as an alternative asset and China said bullion probably won't be the country's main reserve investment.

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To read the full report click on the attachment