PRECIOUS METALS: Bullion prices are higher as geopolitical tensions between North Korea and US. Meanwhile movement of local currency rupee can give further direction to the prices. Gold rose to its highest in more than a week on Monday as the dollar weakened and the euro powered ahead after the head of the European Central Bank refrained from talking down the single currency at a high-profile meeting of central bankers.
ENERGY: crude oil futures nearly 3 percent on Monday, but gasoline prices surged to two-year highs as Tropical Storm Harvey kept hammering the U.S. Gulf Coast, knocking out several refineries which backed up crude supplies and disrupted fuel production.
BASE METALS: Base metal prices are sideways outlook for the metal in China. But traders said the contract could face some resistance attempting to retrace Friday’s intraday gains that swept the contract to its highest since March 2013.
BUY CRUDE OIL SEP BELOW 2950 TARGET 2900/2850 STOPLOSS 3000