Commodty market: Gold-silver ill health, Brent price remains above $ 75 per barrel

The health of gold and silver is deteriorating. For the past few days, they have been angry with investors. Gold is at 1-month low. In the domestic market, it is trading at 46000 levels. With the festive and wedding season coming ahead, is this a golden chance to invest in gold? Or wait, now its brightness will fade further. Here the India International Jewelery Show is going on in Bangalore where more than one master is attending. So will positive signals come out from there to sleep? Will talk about this in detail. For this is with CNBC-Awaaz. Metal expert Chirag Seth. Apart from this, Dharmesh Bhatia of Emirates NBD and Vandana Bharti of SMC Comtrade will also give their opinion.

trading in gold

Gold has slipped to a one-month low. Gold has broken about 20% from the height. Its price has reached $ 1760 per ounce on Comex. Gold has fallen by about 3% in a day. The strengthening of the dollar has put pressure on gold. Strong US data has also put pressure on it. US retail sales figures have been better than expected. There has been a recovery in the US labor market and industry production. Badar is eyeing the FOMC meeting next week.

trading in crude

Crude oil looks stable at 2-month high. Brent price remains above $75 per barrel. There is still no complete recovery in supply from the US Gulf. There has been a strong jump in demand compared to last year. Crude is also getting support from the rise in gas prices. US gas prices have risen 115% since January. Gas prices in Europe have risen by 240% since January. Crude demand is expected to cross 100mbpd by 2022.

trading in base metals

Today mixed trading is being seen in Base Metals. There is pressure in aluminum after a continuous boom. The strength of the dollar has put pressure on the metals. Shanghai Steel Future is at record high. Its prices have increased by about 7% in a day. Shortage in inventory has resulted in a shortfall in supply. There is talk of a ban on the output of Nickel Pig Iron.

Talking about Agri, there is a steady increase in mustard. Prices have jumped 65% since January. In fact, due to festivals, increase in demand and reduction in supply is supporting the prices. Due to which the trend of continuous increase in mustard continues. The government has increased the Rabi MSP by 8.6%. Tight supply and festive demand have pushed up the prices. There is still four months to come for the new crop. Since January, prices have risen by about 65%.
Recently, mustard had set a new record high.

Investment advice from Dharmesh Bhatia of Emirates NBD

BUY SEP CRUDE OIL 5300, SL 5260 TGT 5390

SELL SEP NAT GAS 395 SL 399 TGT 385

BUY DEC SILVER 61200, SL 60850 TGT 61700

BUY OCT GOLDĀ  46000, SL 45850 TGT 46450

BUY SEP ALUMINUM 226, SL 224 TGT 231

BUY SEP NICKEL 1465, SL 1455 TGT 1485

BUY SEP ZINC 253, SL 250 TGT 258

BUY SEP LEAD 186,SL 183 TGT 191

BUY SEP COPPER 722 SL 718 TGT 728

BUY USD/INR @ 73.40 SL 73.20 TGT 73.76

Vandana Bharti’s investment advice from SMC Comtrade

SELL REF @1322, TGT 1310, SL 1328

SELL COCUD @2444, TGT 2380, SL 2465

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