Fomc second and last day of the meeting today. Before the gold – silver is trading in a narrow range. MCX gold and silver around Rs 28700 to Rs 41700’s. Today the U.S. will release first-quarter GDP numbers will continue to focus on this market.
Pressure on crude oil stocks are rising again. NYMEX crude oil prices slipped to $ 100. MCX crude oil is at Rs 6066. According to the U.S. Energy Department reported crude oil reserves and is projected to grow.
Is weak trend in base metals on the LME. However, in the domestic market are seen in the base metals business is flat, but the trend is negative. MCX Copper prices have come down to Rs 409. Aluminium, lead, nickel and zinc are also looking to sell.
BUY Mcx gold 28620 target 28735/ 28785/ 28835 stoploss 28470
SELL mcx silver target 41670/41600/41530 stoploss 42500
SELL lead 126.50 target 125 stoploss 127