Rupee strong; sell bullion, copper: Anand Rathi Commodities

At the opening of commodities there was some strength seen in silver and gold too opened up in the green. It was a positive start to the bullion. Crude was down a bit but globally it is stuck at USD 111 per barrel for the last few days.  

At the opening of commodities there was some strength seen in silver and gold too opened up in the green. It was a positive start to the bullion. Crude was down a bit but globally it is stuck at USD 111 per barrel for the last few days.  

In an interview to CNBC-TV18, Priti Gupta, director, Anand Rathi Commodities shared her reading and outlook on commodities like gold, silver and copper.

The theme for today remains a stronger rupee, so bullion would be a sell for us, she said. We have been bullish on copper for a long time, but for today she recommends a sell because the strength in the rupee would push all international commodities down. 

“Sell copper anywhere in the range of Rs 451-452  peg kg for a target of about Rs 448-449 per kg and stop loss of Rs 453 per kg,” she asserts.

The theme for today remains a stronger rupee, so bullion would be a sell for us, she said. We have been bullish on copper for a long time, but for today she recommends a sell because the strength in the rupee would push all international commodities down. 

“Sell copper anywhere in the range of Rs 451-452 for a target of about Rs 448-449 and stop loss of Rs 453,” she asserts.