Gold prices at new high: Experts advice how to trade it now

Naveen Mathur of Angel Broking recommends buying the MCX gold contract for the month of August at around Rs 29,850-29,900 per 10 grams levels with a stop loss at around Rs 29,700 per 10 grams for targets in the range of Rs 30,100-30,150 per 10 grams by the end of the day.

Shreekant Jha, Managing Director at PJ Commodity Ventures feels that crude inched up a little bit, but it could not sustain whatever gains it made and finally settled back into the Rs 4,650 per barrel levels or so. So he advises to hold initiated shorts at Rs 4,800 per barrel for the targets of Rs 4,550-4,500 per barrel levels. N Prasad, CEO at Safetrade Advisors advocates buying MCX silver contract at around Rs 55,200 per kilogram with a stop loss of Rs 54,700 per kilogram for a target price of Rs 55,850 per kilogram. Ashish Shah of Sushil Global Commodities believes that there has been some pressure coming on lead. He suggests traders to sell this commodity at current levels and rallies to Rs 106 per kilogram, with stop loss above 106.80 per kilogram for a target price of 103-103.20 per kilogram probably on the intraday or slightly positional basis.