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Brent crude has dropped below $ 30. Weak demand and rising supply from Iran has increased pressure on crude estimates. The US Energy Department said yesterday in a report that the 2.34 million barrels of crude reserves has increased. There is also an increase in gasoline stocks. The all-round pressure on crude oil prices have had.
Meanwhile, gold prices is seeing. Comex 0.5 per cent, gold is trading at the level of $ 1,093. Although silver is the pressure being witnessed. Comex silver fell 0.5 percent to $ 14 seems.
While estimates of the reduction in demand, the price of copper on the London Metal Exchange fell to the lowest level in the last 6.5 years. In addition, zinc and nickel have also fallen sharply, about 1-2 per cent.
Meanwhile, news that China could buy sugar from the global market, the price of raw sugar in the international market has jumped nearly 3 percent. The rupee has weakened against the dollar today and gone beyond Rs 67 is priced at $ 1.
MCX crude oil in the domestic market rose 0.5 per cent to close at Rs 2,060 is reached. But the move to natural gas looks flat and is trading at Rs 152.8. 25 940 with a gain of 0.8 per cent on MCX gold is trading at Rs. Silver's move is flat and looks around Rs 34 250.
Base metals gained is being witnessed. With a gain of 0.75 per cent on MCX Aluminium is trading at Rs 98.9, while lead gained 0.5 percent and the price has risen to Rs 109.25. Zinc is 0.75 per cent and is trading at Rs 99.9. MCX Copper rose 0.9 per cent to Rs 294.5 seems. With a gain of 1.5 per cent on MCX Nickel is trading at Rs 562.8.
Agri commodities sugar futures looks sluggish. NCDEX Sugar flat and looks around Rs 3,220. But the soybean boom is seeing. NCDEX soybean futures rose 0.3 percent in February 3800 seems to be over Rs.
CapitalStars Experts Investment Advice
MCX Gold (February futures): Buy - 25,650 to 25,680, Stoploss - 25500 and Target - 25950
Silver MCX (March futures): Buy - 33,850 to 33,900, Stoploss - 33 550 and the Target - 34500
MCX Copper (Feb futures): Sell - 295, Stoploss - 298 Targets - 287
MCX crude oil (January futures): Sell - 2050, Stoploss - 2105 and Target - 1950
CapitalStars Commodity Experts investment advice
NCDEX sugar (March futures): BUY - 3160, Stoploss - 3100 and Target - 3300
NCDEX soybean (February futures): BUY - 3700, Stoploss - 3640 and Targets - 3800
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