Commodity Market: Gold and silver prices fall, crude remains strong, what should be the investment strategy in metals

There is a big breakdown in gold. Gold has slipped below 45 thousand on MCX, which is a 10-month low. The strengthening of the dollar and increasing bond yields in the US has increased the pressure on gold. There will be a further decline in gold from here. Vaccine rollout is witnessing rapid weakness.

Citigroup’s Global Head, Commodities Research Edward Morse says that at the moment investors are not interested in gold, gold prices will be in the range of $ 1700-1800.

Here, before the decision of OPEC +, there is a spurt in crude oil. Brent prices have again reached close to $ 65. Metals have a mixed attitude today. There is a sharp drop in nickel but lead and zinc are in a smaller range.

Weakness in silver

Silver has reached the level of Rs 67,500 per 10 kg on MCX. Silver has declined due to strong dollar. The increase in bond yields in the US has put pressure on silver.

Crude strength

The price of Brent has again reached close to $ 65. The OPEC + decision preceded the boom. OPEC + can continue production cuts. There is a record increase in inventories in the US. In the US, inventories have increased by 216 million barrels. The refining output record in the US is at a low level.

Mixed attitude in metals

Nickel and copper are falling. Zinc and lead is doing small business. The dollar remains strongly under pressure. Support has come from better demand.

Talking of Agri Commodities, CPO is seeing good boom today. The impact of the rise in soy oil is on CPO, in addition to getting support in crude also. But there is weakness in soybean and mustard. But there is profit booking in spices.

Investment advice by Ravindra Rao of Kotak Securities

Sell Gold @ 45000 Tgt 44600 sl 45100

Sell crudeoil @ 4520 tgt 4450 sl 4540

Sell copper @ 703 tgt 688 sl 709

Investment advice by Ajay Kedia of Kedia Commodity

BULLION

SELL GOLD APR @ 44900 SL 45100 TGT 44600 SELL
SILVER MAY @ 67700 SL 68100 TGT 66800

ENERGY

BUY CRUDE OIL MAR @ 4480 SL 4420 TGT 4600 SELL
NATURAL GAS MAR @ 206 SL 210 TGT 200

BASEMETALS

SELL NICKEL MAR @ 1230 SL 1250 TGT 1200

SELL COPPER  @ 700 SL 704 TGT 692

AGRO

BUY CHANA MAR @ 5000 SL 4930 TGT 5150

BUY TURMERIC APR @ 9300 SL 9100 TGT 9600

BUY JEERA MAR @ 14000 SL 13800 TGT 14700

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