Best Commodity Tips | The Global Trade War is now seen changing in a currency war and after the decision to install double duty in Turkey on metal import from Turkey, the forex market has hit. The Lira record is at the lower level. This year, it has fallen nearly 40%. At the same time, the rupee has slipped to the lowest level against the dollar. The dollar has touched the level of Rs 69.5. In early trading, the rupee opened almost 1 percent weak. There has been a decline of about 8 percent in rupee this year. There has also been a decline in euros due to the risk of exposure to Lira in Europe.
Meanwhile, the dollar index has gone up to 13 months at the upper level. In such a situation, the glow of gold in the global market has dimmed. Gold at the commex is below $ 1210. The silver glow has also dimmed. Also, crude oil has a fall trend. Not only this, the metal is weak on the London Metal Exchange. Copper and Zinc are trading on the decline.
At present, gold is trading at Rs 29,860 with an increase of 0.25 percent on MCX. Silver is trading 0.2 percent and is trading at Rs 38,040. On the MCX, crude oil is trading at Rs 4,700 with a rise of 0.5 percent. Although natural gas is flattening, it is trading at Rs 203.
In the domestic market, there is pressure in all except the aluminum in metals. Aluminum is trading 0.8 percent with a strength of Rs 143.6. Although the trick of copper, nickel, and lead is flat. At the same time, zinc has broken 2 percent.
Rudra Investment Best Commodity Tips
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Silver MCX (September futures): Buy - 37800, Target – 38500 Stop loss - 37400
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Natural gas MCX (August futures): Sell - 203, Target – 196 Stop loss - 206
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Soybean NCDEX (October futures): Buy - 3350, Target – 3520 and Stop-loss - 3300
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Soya Oil NCDEX: Buy - 732, and Target – 742 and Stop loss - 728
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