Experts negative on gold; bet on crude, copper, aluminium

N Prasad of Safetrade Advisors recommends selling MCX gold contract on Rs 29,800 per 10 grams with a stop loss of Rs 29,920 per 10 grams for a target of Rs 29,650 per 10 grams.

Priyank Upadhyay of SSJ Finance & Securities believes that crude oil prices are consolidating around the USD 90 per barrel levels. On MCX, he feels that dips around Rs 4,970-4,960 per barrel would act as a support which he expects to buy with a stop loss below Rs 4,920 per barrel and we expect targets of around Rs 5,040-5,060 per barrel. Ravindra Rao of Motilal Oswal suggests buying copper at Rs 418 per kilogram levels with a stop loss of Rs 415.40 per kilogram. He advises placing an upside target of around Rs 424 per kilogram and above that to Rs 427 per kilogram. Atul Shah of Emkay Commtrade advocates buying aluminium August contract at the rate of Rs 104 per kilogram for the target price of Rs 106 per kilogram with a stop loss of Rs 102.50 per kilogram.