Precious metals rallied sharply in previous trading session after government didn't announce any cut in import duty of bullions. Market participants were expecting that the government might announce a cut of 2-4% in import duty of gold & silver. In international markets, gold prices gave technical breakout above $1330 per ounce. We continued to hold our mildly bullish view in bullions. Crude futures are expected to trade in range bound with $101 per barrel a key level to watch. We maintained our mildly bullish view in base metals as improving economic condition in China likely to support base metal prices. We expect natural gas prices to trade weak on back of rising inventories.

Source: FINVASIA Research