Commodity Corner: Expert view on gold, crude, silver & lead

Renisha Chainani, Deputy Manager - Research of Edelweiss recommends buying gold on MCX on dips around Rs 29,950 per 10 grams with a stop loss of Rs 29,890 per 10 grams and target of Rs 30,080 per 10 grams on the higher side for intraday traders.

Shreekant Jha, Managing Director of PJ Commodity Ventures says that yesterday crude touched Rs 5,200 per barrel as he had expected. Jha adds, “Under the circumstances, the call remains the same. You could buy crude at Rs 5,000 per barrel and look for target of Rs 5,200 per barrel. Dipen Shah, Business Head of Stayvan.com advises trading silver on MCX with a positive bias. As a strictly intraday trade, he suggests buying silver on any dips at Rs 53, 280 per kilogram with a stop loss of Rs 53,080 per kilogram for a target of Rs 53,680-53,750 per kilogram. Sumeet Bagadia of Destimoney Commodities believes that at present lead is the commodity to trade in. He advocates initiating sell position at around Rs 105.50 per kilogram levels with a stop loss to be placed at Rs 107 per kilogram on higher side for the downside target of Rs 104 per kilogram and below that Rs 102.50 per kilogram in next couple of days.