US Federal Reserve currently do no change in interest rates but give indication to increase interest rates in June. So yesterday’s boost of Gold is not able to move upward. Despite of gain Gold remains under $1175 at COMAX, undoubtedly this is the effect of weakness in dollar.
At MCX Gold gained 1% and Silver gain 2%. Crude oil strengthened 2% in domestic market while Natural gas slipped 0.5% traded near Rs 180.
In Base Metals Aluminium gained 0.6%, Copper ,Lead and Nickel 1% and Zinc gained 0.60%. MCX Cotton March Future traded near 14840 gained 0.60% and NCDEX refined Soya oil April future traded below Rs 580.
Commodity Tips Today
MCX Cotton March Future Sell below 14810 target 14723.33 stop loss 14896.00.
MCX Aluminium March Future Buy above 110.80 target 111.53 stop loss 110.53.