MCX Gold Silver, Crude Oil and Base Metals Trading Recommendation – 10th April 2017

Precious metals prices are expected to trade range bound for the day, supported by Precious metals prices hit a five month high on Friday after U.S. jobs data dampened expectations that the U.S. Federal Reserve will raise interest rates, but the metal gave up most gains as the dollar rose and safe haven demand ebbed.

Crude prices gave up some of the early gains in Asia on Monday with tensions on the Korean peninsula in focus along with the fallout from a missile strike by U.S. forces last week on a Syrian airbase that drew a sharp rebuke from major oil producers Iran and Russia.

Base metals prices expect to trade range bound for the day as rising geopolitical tensions blunted appetite for risk and lifted the dollar, but prices were underpinned by tightening supply.

Live Market Updates: Gold is 5 points down at 28679 while Silver is 14 points down at 41365 and Crude Oil is 20 points up 3379.

Today’s Call:

BUY CRUDE OIL APR IN THE RANGE OF 3380-3400 TARGETS 3450/3500 STOPLOSS 3330 .

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