On a fortnightly basis, global equity markets traded on a positive note as a result of the dovish statement made by the US Federal Reserve Chair Janet Yellen, who commented on the need for stabilization of foreign economies and its markets.
In the past fortnight, spot gold prices plunged 5.6 per cent to close below $1,000/oz levels while MCX gold prices declined 5.1 per cent to close at Rs 24,731/10 gms.
Precious metals are expected to trade lower while crude is expected to remain volatile over the next fortnight, writes Angel Broking's Naveen Mathur.
Crude oil prices will continue to see weakness as ample supplies and bleak demand will exert downside pressure.
Gold and silver prices are expected to trade higher in the coming fortnight on bargain buying at lower levels coupled with renewed speculative interest.
Expect chana prices to trade sideways to lower note during the next fortnight due to government intervention and good sowing progress.
Commodities are expected to trade higher as the ECB action on monetary easing to revive the sagging Euro Zone is a signal that the economy is in doldrums.
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