18.1 C
Wednesday, October 27, 2021

Crude oil reached a 2-month high on MCX, know in which commodity experts are giving advice to buy

After the decisions of the US Fed, the color of gold has been blown away. He is worried that the relief package will end by June 2022. Gold is trading at a low of 6 weeks. Here SPDR Gold ETF holding has decreased by 8.1 tonnes. So are investors getting disillusioned with gold? Are investors moving away from gold to another asset class? Apart from this, we are also keeping an eye on the movement of crude. Experts are talking about going up to $100. What are the reasons behind the boiling of crude? Let’s take a look.

trading in gold

Gold has slipped to a 6-week low. The price of gold on Comex is at the level of $ 1750. US Fed could finish the package by mid-2022. China’s Evergrande crisis averted. SPDR Gold ETF holding declined by 8.1 tonnes. Holding has come down 0.8% to 992.65 tonnes on Thursday.

trading in crude

Crude oil is seen at 2-month high on MCX. Brent has reached the high level of 2018 and its price has come out above $ 77 per barrel. Crude is showing a bullish trend for the 5th consecutive week. Crude is getting support from production crisis and rising global demand. The US Gulf still has 16% less production. Inventory has also decreased in Europe along with the US. China will conduct the first auction from its reserves today. Iraq Oil Minister has said that OPEC is trying to keep the price near $ 70. Due to the improvement in demand, the price can go up to $100 by the end of 2022.

In the game of share market, in just 4 days, one player returned 13% and the other gave 12% return, said today

trading in metals

Dollar index reaches one-month high. Metals are getting support due to averting China Evergrande crisis. On a month-on-month basis, China’s aluminum output in August was down 3.2%. Shanghai nickel inventories remain at record lows. Copper is seeing a recovery from a one-month low. Zinc production has been affected by the power crisis in the EU. TIN is at a record high due to falling inventories in the LME.

Investment Advice from Dharmesh Bhatia of Emirates NBD

BUY OCT CRUDE OIL 5400, SL 5375 TGT 5460
SELL DEC SILVER 60690, SL 60990 TGT 60200
SELL OCT GOLD  46000, SL 46190 TGT 45760
BUY OCT ZINC 255, SL 253 TGT 260

Buy Oct Aluminum 230, SL 228 TGT 236
Sell Oct  Nickel 1450, SL 1465 TGT 1420

Buy Oct Lead 181,SL 178 TGT 186
Buy Oct Copper 711 SL 706 TGT 719
Buy USD/INR @ 73.50 SL 73.40 TGT 73.80

Vandana Bharti’s investment advice from SMC Comtrade

SELL REF OCT @1316, TGT 1305, SL 1321
BUY CASTOR OCT@6210, TGT 6300, sl 6170

Facebook us for social media updates (https://www.facebook.com/moneycontrolhindi/) and Twitter (.follow on


Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
Latest news
- Advertisement -
Related news
- Advertisement -