Best Commodity Tips | Copper prices have slumped nearly 1 percent on the London Metal Exchange due to fear of a fall in demand in China. In fact, this year China is expected to get bad figures. So, after making about a 2.5 percent increase in last week, Copper has come under pressure. This year, about 14 percent of copper has come down. However, there are steadily rising steel prices with the rest of the metal in China.
Meanwhile, the pressure on gold has increased due to the Federal Reserve meeting starting tomorrow. Gold at the commex is trading at $ 1,220. At the same time, Chadhi dropped 0.25 percent to below $ 15.5. Due to lack of demand, crude oil has also remained sluggish. However, there is a slight increase in the rise in demand for NYMEX crude in the US. There is a weakness in the rupee against the dollar today and the dollar has crossed Rs 68.70. Meanwhile, due to improved rainfall in Uttar Pradesh and Bihar, the fear of drought is over.
Rudra Investment Best Commodity Tips
NCDEX Cotton Khali (August futures):
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Buy - 1820
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Goal - 1860
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Stop loss- 1800
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NCDEX cumin (August futures):
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Buy - 19400
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Target - 20200
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Stop loss - 19100
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MCX Silver (September futures)
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Buy - 38000
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Target - 38900
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Stop loss- 37600
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MCX Copper (August futures):
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Buy - 424
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Goal - 432
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Stop loss- 421
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