Crude trades above USD 89/bbl
Nymex crude was trading above USD 89/barrel today. Crude had lost 2.7% last week. Brent crude was close to USD 98/barrel on the back of higher euro & tight North Sea supplies.
January 24, 2011 / 13:38 IST
By Gautam Broker, Research Analyst at CNBC-TV18
Commodity curveNymex crude was trading above USD 89/barrel today. Crude had lost 2.7% last week. Brent crude was close to USD 98/barrel on the back of higher euro & tight North Sea supplies.Gold was witnessing modest bounce-back; went up 0.5%. SPDR holdings rose for the first time in 2 weeks. Silver climbed over 1% in Asian trade.Base metals rebounded as China tightening fears fade. LME Copper was up 0.5% today.Euro closed above 1.36, at 2-month high versus USD. Nirmal Bang advised to:
-Buy gold MCX February contract at Rs 20,070 per 10 grams, with a target of Rs 20,150 and keep a stoploss of Rs 20,000.
-By nickel MCX January contract at Rs 1190 per kg, with a target of Rs 1210 and keep a stoploss of Rs 1179. Discover 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!
