MORNING UPDATE: INDIAN COMMODITY MARKET OPEN LOWER TODAY

Commodity market opened negatively as bullion, energy started the trade with cuts and base metals also traded mixed. Currently, CPO, Lead, Aluminium, Zinc were trading with a gains while rests of other in MCX were trading with a weak note in morning session.

Gold and silver futures declined in Thursday's trade as firm US treasury yields continued to weigh on the non-yielding bullion. MCX gold futures for April delivery were trading 0.35 per cent lower at Rs 44790 per 10 grams. Silver futures for May delivery were quoting at Rs 67495 per kg, down 0.74 per cent. MCX Gold April future has breached the key support of Rs 44975 and fell towards Rs 44560. MCX Silver May future held the key support near Rs 66,400 as price witnessed rebound from the same zone on multiple occasions this week.

Base Metals traded mixed as Lead, Aluminium, Zinc were trading higher while Nickel and Copper were trading lower. Lead future for Mar delivery were trading nearly 1 per cent gain. Nickel Mar future was trading down by 3.72% at Rs. 1212.90 per kg and touched a low of Rs.1186 on Today.