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 betsDiscover 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!
