The Commodity Tips Expert Given a Report, The essential meeting of the Federal Reserve is planned to begin in the US from tomorrow and before that the dollar has become rather listless. Indeed, in this meeting, the Federal Reserve may come to a decision to increase interest rates in the US. In such a situation, the pressure on gold prices is seen in the global market. At the commex, gold is currently trading at $ 1195 level. There is a decline of about 1 percent in silver and the price has come down to $ 14.
Whereas crude stocks in the US have gone up in the last 3.5 years, crude oil has risen. In the meeting of the oil-producing countries yesterday, there is no talk of growing supply, and prices have got support and Brent's price has reached 80 dollars. While NYMEX crude is trading at $ 71. However, after heavy week's rise, copper dropped on the London Metal Exchange by over 2.5 months.
On Friday, it jumped nearly 5 percent. Nickel and aluminum have also had a decline following last week's heavy acceleration. Today the weakness in the rupee has increased against the dollar and the price of 1 dollar has gone up to Rs. 72.5.
Investment advice from The Commodity Tips Expert
Crude oil MCX (September futures): Sell - 5190, target - 5000, stoploss - 5250
Silver MCX (December futures): Buy - 37100, Target - 37900, Stoplaus - 36900
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