Commodity Preview:Crude, Gold & Silver on MCX

Crude oil futures witnessed some corrective action after recent gains. The WTI Crude futures hit 2-month peak near USD 54.40 per barrel yesterday. WTI Crude oil futures are currently trading at USD 53.71 per barrel, down 0.60% on the day. MCX Crude oil futures flat at Rs 3876 per barrel as the Indian Rupee showed weak.

Watching gold on MCX, the precious metal’s price quotes higher at Rs. 32,068 up 08 percent Tuesday amid raising of bets by participants. On the other hand, Silver marginally down by 02% to Rs 38,900/kg in futures after participants raised their bets, while Zinc down 0.57% to 183.70

At the MCX, silver for delivery in March was trading higher by Rs 7, or 0.02%, at Rs 39,205 per kg in a business turnover of 871 lots.

Commodity Calls Today:
BUY GOLD FEB ABOVE 32070 TARGET 32170
SELL ZINC JAN BELOW 183.25 TARGET 182.25
BUY NATURAL GAS JAN ABOVE 240 TARGET 243

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