Mar 14, 2013 02:14 PM IST | Source: CNBC-TV18

Dollar rise may hit commodities; sell gold & crude: IIFL

Tarang Bhanushali of IIFL expects gold price to decline. "Rise in dollar would lead to a selling pressure in most of the commodities and precious metals would be impacted the most," he said in an interview to CNBC-TV18.

Tarang Bhanushali of IIFL expects gold price to decline. "Rise in dollar would lead to a selling pressure in most of the commodities and precious metals would be impacted the most," he said in an interview to CNBC-TV18.

He advocates selling MCX gold April contract at Rs 29,530 per 10gm with a stop loss at Rs 29,650 and a target of Rs 29,380 per 10gm.

Bhanushali also recommends selling MCX crude around Rs 5,050 per barrel keeping a target of Rs 5,000 per barrel and a stop loss of Rs 5,080 per barrel.

Watch video for his bets

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