Silver

Silver on MCX settled down -0.24% at 42429 amid rise in dollar and markets priced in the increased possibility the U.S. central bank would raise interest rates this month. Risk appetite also took a hit on rising geopolitical tensions in East Asia, as North Korea fired four ballistic missiles. New orders for U.S.-made goods increased for a second straight month in January, suggesting the recovery of the manufacturing sector was gaining momentum.

Trading Ideas: 

*Silver trading range for the day is 42104-42962. 

*Silver dropped amid rise in dollar and markets priced in the increased possibility the U.S. central bank would raise interest rates this month.

Crude oil

Crude oil on MCX settled down -0.17% at 3550 wiping out some of the gains of the previous session amid worries lower growth targets in China could cut oil demand and ongoing concern over Russia’s compliance with a global deal to cut oil output. But worries over escalating violence in the Middle East put a floor under prices. Also support seen as Libya’s crude output dropped after clashes forced two of the country’s biggest oil ports to shut down, threatening the OPEC member’s efforts to revive the production of its most important commodity.

Trading Ideas: 

*Crude oil trading range for the day is 3507-3595. 

*Crude oil wiped out some of the gains amid worries lower growth targets in China and ongoing concern over Russia’s compliance on oil output.

Natural gas

Natural gas prices are rallying in yesterday session as recent weather forecasts favor cooler weather across much of the U.S., rising 5.08% to 196.60 and extending a rebound that has sent prices higher for four straight trading sessions. Natural gas prices had been held down by tepid demand amid one of the warmest winters on record, but forecasts now see temperatures falling below normal levels in the 6-10 day period and beyond.

Trading Ideas: 

*Natural gas trading range for the day is 184.4-203.4. 

*Natural gas prices gained on short covering as investors reacted to an increase in demand due the return of cold temperatures.

Zinc

Zinc on MCX settled down -1.8% at 182.50 as pressure seen after China has cut its growth target this year as the world's second-largest economy pushes through painful reforms to address a rapid build-up in debt, and erects a "firewall" against financial risks.

Trading Ideas:

*Zinc trading range for the day is 179-187.4. 

*Zinc dropped below 183 level to settled down at 182.50 as pressure seen after China has cut its growth target this year.

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