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Bullions: Bullions may open on flat note tracking mixed overseas cues. Gold may trade in range of 22,100-22,300 and silver may trade in range of 53,500-55,000 in domestic market. Today payroll data will guide further movement in bullion counter. A stronger-than-expected payrolls data could ease fears that the U.S. economy would be in a prolonged soft patch, undermining the safe-haven demand in bullion.
Base Metals: Base metals may open on flat note amid mixed movement in SHFE. Copper may trade in range of 430-440 in domestic market. LME copper was steady on Friday near a three-month high hit in the previous session, supported by supply disruptions in Indonesia and Chile and positive data from the United States. As expected, the ECB raised interest rates for the second time in three months on Thursday. It also signaled a further hike is likely this year to tackle inflation despite the intensifying euro zone debt crisis. Yesterday supply threats in Chile and upbeat U.S. data added fuel to the rally in Copper.
Base Metals: Base metals may open on flat note amid mixed movement in SHFE. Copper may trade in range of 430-440 in domestic market. LME copper was steady on Friday near a three-month high hit in the previous session, supported by supply disruptions in Indonesia and Chile and positive data from the United States. As expected, the ECB raised interest rates for the second time in three months on Thursday. It also signaled a further hike is likely this year to tackle inflation despite the intensifying euro zone debt crisis. Yesterday supply threats in Chile and upbeat U.S. data added fuel to the rally in Copper.