Silver shrinks to the lowest since 2010; follows Gold
Silver futures on Globex platform of Comex was seen trading down by 4.67% at $21.320 per troy ounce as of 10.10 AM IST on Monday.Speculation that US Federal Reserve may end its USD85 billion per month bond-buying program, might have influenced investors sentiments.
MUMBAI : Bullion futures in the international market are trading negative and silver prices fell to the lowest since 2010. Bullion prices shrunk to their lowest in four years as investment demand recorded a slump amid firm equities.
Silver futures on Globex platform of Comex was seen trading down by 4.67% at $21.320 per troy ounce as of 10.10 AM IST on Monday.
Comex gold futures are also down by 1.59% at $1343.05 per troy ounce as of 10.11 AM IST on Monday.
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Trading tips for crude, silver & copper
Ram Pitre of Anand Rathi Commodities recommends selling crude between Rs 5,360 per barrel and Rs 5,370 per bbl with stop loss of Rs 5,400 per bbl for target price of Rs 5,250 per bbl.
Don't see gold touching $1,100/oz by year-end: UBS
Renisha Chainani of Edelweiss advises selling silver at MCX around Rs 42,700 per kilogram with stop loss of Rs 43,100 per kilogram for target of Rs 42,000 per kilogram on the lower side.
Sugandha Sachdeva of Religare Commodities advocates buying natural gas. "We would recommend buy on dips close to Rs 221 per kilogram to Rs 222 per kilogram with stop loss of Rs 217 per kilogram and prices are likely to show an upside up to a level of Rs 228 to Rs 232 per kilogram," Sachdeva adds.
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Here's how to trade crude, zinc, copper today
Ram Pitre of Anand Rathi Commodities advises selling crude on MCX at Rs 5,360 5,370 per barrel with a stop loss at Rs 5,385 per barrel and a target of Rs 5,265 per barrel.
Dharmesh Bhatia of Kotak Commodities suggests selling MCX zinc at Rs 102 per kilogram. Place a stop loss for this trade at Rs 103-104 per kilogram for target of Rs 98-97 per kilogram on the downside.
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