By Gautam Broker, Research Analyst at CNBC-TV18
Commodity curve 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. 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.
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