In an interview to CNBC-TV18, Ashok Mittal, chief executive officer of Emkay Commodities and Naveen Mathur, associate director, commodities & currencies of Angel Broking speak about various commodities and give their outlook going forward.
Below is the edited transcript of the interview with CNBC-TV18's Udayan Mukherjee and Mitali Mukherjee. Also watch the accompanying video. Q: What is your view on gold? What are you telling your clients to do there? Mathur: I think gold looks little positive from here. We have heard the Atlanta speech yesterday by the Fed chairman Ben Bernanke talking about that the banks need liquidity to have a stable economy. With that expectation or with that kind of a talk and also the non-farm payroll data, which came the last Friday, which was pretty much negative than the expectations, I think the markets looks little positive. Weaker dollar would give that positive bias to the gold. Intraday, therefore, on MCX too, we expect the prices to go up. So, Rs 28,300- 28,200- 28,250 per 10 grams levels would be the right levels to buy in. We would recommend to put a stoploss on trade at around Rs 28,100 per 10 grams and targets by the day shall be around Rs 28,400-Rs 28,430 per 10 grams or so. Q: You donDiscover 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!
