Crude may hit $35/bbl in near-term: Fat Prophets

Nymex crude may hit USD 35 per bbl in the near future, says David Lennox of Fat Prophets. On the Organization of the Petroleum Exporting Countries (OPEC) meeting scheduled for December 4, he says there will be no significant cuts in production going forward.Meanwhile, he is of the view that gold would rise to USD 1100 per ounce towards end of the year.He further believes US dollar will be the key driver for commodity prices in the short term as any rise in the currency may lead to weakness in prices of commodities.Watch video to know views of Angel Broking's Naveen Mathur on the same.