On the Comex division of the New York Mercantile Exchange, Gold futures for August delivery fell 0.11% to USD1,282.75 per troy ounce in Asian trading Friday after settling up 0.52% at USD1,284.15 a troy ounce in U. S. trading on Thursday, up from a session low of USD1,273.35 and down from a high of USD1,287.55 a troy ounce. Gold prices internationally can go up slightly as uncertainty regarding the tenure of Fed’s bond buying program still prevails but lack of physical and investment demand can limit the upside. Gold in India is likely to go up as a weaker rupee can support prices. Over all, MCX Gold August future is consolidate and sustaining around lower levels. So for the coming week 25850/25574 will act as a major support whereas 26500/26850 will act as a major resistance level in MCX Gold August future. For the next week in MCX Gold, trader can make sell position on higher level, if MCX Gold August future sustain below the levels of 26240 then it could test the levels 26100/ 25850.

MCX Silver is also in consolidation and sustaining around lower levels. So, for the coming week 41150/43000 will act as major resistance levels where as 36500/34000 will act as major support in MCX Silver September futures. Last week MCX Silver September futures was sustaining around lower levels. For the next week traders can use sell on higher level strategy, if MCX Silver September futures sustains below 39931 then it could test the levels of 38536/ 36645.

U. S. crude oil futures settled up 1.47% at $108.04 per barrel, from the previous close of 106.48. Front-month Brent futures rose 0.08% to settle at $108.70 a barrel. Crude prices were up as strong economic data in US improved the demand prospects for oil and supported prices. However, U. S. oil demand fell in June, with consumption at its lowest level for the month in 16 years; according to the API group. Israel delays peace talks again and wants their terms to be met before negotiations could resume. We expect Crude oil prices to remain in range due to strong technical resistance and uncertainty in the Middle East region in Syria and Egypt can keep prices in range. So, for the coming week 6200/6000 will act as major supports levels whereas 6570/6700 will act as major resistance in MCX Crude oil August futures. For the next week, trader can go for sell on higher level strategy, if MCX Crude August future sustain below 6400 levels then it could test the levels 6330/6210.

Copper prices were up as stronger than expected manufacturing growth in US which came at 19.8 supported prices. However, a stronger dollar after positive jobs data limited the upside in copper. Trend of MCX Copper future is consolidate and also sustaining in a range. So, for the coming week, it could face major resistance of 426.85/ 432.3 whereas 414.05/ 410 could be a major support in MCX Copper. For the next week trader may go for buy on lower levels, if MCX Copper future sustain above 419.30 levels then it could test the level of 425.25/ 430.15 levels.