Gold Silver Reports (GSR) – MCX Zinc Strong Support @202—199 level — Zinc on MCX settled up 1.23% at 205.20 gained on short covering and tracking LME zinc which rose 0.5 percent to $3,131.50 a tonne as investors wagered the latest U.S.-led strike on Syria would not escalate into a wider conflict, though Asian equities turned mixed as selling in bank shares slugged Chinese indexes.
MCX Zinc Forecast and Report
MCX Zinc is getting support key @202 and below same could see a test of @199 levels and resistance key is now likely to be seen @208, a move above could see mcx zinc prices testing @212
China likely carried most of its strong economic momentum from last year into the first quarter of 2018, with government crackdowns on financial risks and industrial pollution dragging less on activity than earlier expected.
Today China’s data was out suggesting economy will grew 6.8 percent in the first quarter of 2018, the statistics bureau reported on Tuesday. That topped a consensus estimate of 6.7 percent year-over-year growth for the quarter.
Now metals traders will be keeping a close eye on geopolitical developments in the coming week amid heightened tensions between the U.S. and Russia in the wake of U.S.-led missile strikes on Syria and the latest round of U.S. sanctions on Russia.
Traders will also be looking ahead to U.S. economic reports, in particular a slate of Fed speakers that may fuel U.S. dollar volatility which could impact metal.
