Experts advises to trade gold, silver, nickel & zinc

Sreekanth Jha of PJ Commodity Ventures reckons that silver was in a very narrow range yesterday and was moving between Rs 62,250 and Rs 63,300 per kilogram. Jha says, “If you have already bought into silver around the Rs 62,000 per kilogram levels which was the entry point a couple of days ago, the Rs 64,000 per kilogram target still remains, so if you are long on silver, you can exit it today when you see Rs 64,000 per kilogram.”

Renisha Chainani of Edelweiss recommends buying nickel MCX October contract above Rs 975 per kilogram. “Keep a stop loss for this trade at Rs 960 for upside target of Rs 1,000 per kilogram,” Chainani said.

Ashish Shah of Sushil Global Commodities advocates selling zinc on MCX at current market price and till rallies up to Rs 110 per kilogram. Shah said, “Place a stop loss at Rs 111.50 for targets of Rs 107-106.”