Experts advice selling gold and silver, buy copper

Dipen Shah of stayvan.com feels that there will be a fall in commodity exchange for gold prices and the rupee could find support here. He reckons that this would inevitably lead to a fall on gold prices on MCX also. Hence he recommends selling gold on MCX around Rs 29,230 per 10 grams with a stop loss of Rs 29,300 per 10 grams for a target of Rs 29,100 per 10 grams.

N Prasad of Safetrade Advisors advises selling MCX silver Rs 57,100 per kilogram with a stop loss of Rs 57,300 per kilogram for a target of 56,100 per kilogram. Priyank Upadhya of SSJ Finance and Securities think that silver prices have been falling off late. On MCX, he feels that due to rupee depreciation the fall in fall has been arrested but he still advises selling on rallies around Rs 57,400-57,500 per kilogram with a stop loss above Rs 58,000 for targets of around Rs 56,000 per kilogram. Ram Pitre of ITI suggests buying copper between Rs 443-444 per kilogram with a stop loss of Rs 440 for a target price of Rs 448-452 per kilogram.