Experts bullish on gold, silver, natural gas & aluminium

NS Ramaswamy of Ventura Securities recommends buying gold below Rs 29,600 per 10 grams levels for a target of Rs 29,725 per 10 grams and beyond that on an intraday basis to Rs 29,900 per 10 grams on expectations of the Bank of England and the European Central Bank rate cuts. “Gold could be rallying on an upside today with a stop loss of Rs 29,490 per 10 grams. One could expect prices to reach these targets.” he adds.

Dipen Shah of Stayvan.com sees relative strength in silver as compared to gold. He advocates buying silver on dips at Rs 53,700 per kilogram with a stop loss of Rs 53,500 per kilogram for a target of 54,000-54,100 per kilogram on intraday basis. Kunal Shah of Nirmal Bang Commodities advises going long on MCX natural gas futures at Rs 161 per MMBTU with a stop loss to be placed below Rs 156 per MMBTU. He reckons that prices would move up and test levels of Rs 168 per MMBTU on MCX. Sumeet Bagadia of Destimoney Commodities feels that aluminium is good to buy and dips in prices till Rs 106 per kilogram or Rs 105.70 per kilogram should be used as buying opportunity with a stop loss to be placed at Rs 104.90 per kilogram levels for the upside target of Rs 107.50 per kilogram and above that Rs 108 per kilogram.