Spot gold is ending 2011 on a weak note. After ten consecutive annual gains, it is heading for its first quarter of losses in more than three years. The new year is likely to be dominated by worries about economic growth and sovereign debt.
Reena Walia, senior research analyst of international commodities at Angel Broking is advising investors to sell February MCX gold contract around Rs 27,200 per 10 grams with a stop loss at Rs 27,400 per 10 grams. She has a downside target of Rs 26,900 per 10 grams. Meanwhile, Shreekant Jha, managing director of PJ Commodity Ventures says, crude MCX has a target of Rs 5,400 per barrel, if it breaks Rs 5,300 per barrel. Also read: Bullish on crude in '12, see Brent at $125/bbl, says Anand RathiDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
