The easing of tensions between US and China, US Fed's dovish stance and low inventories on the LME will be the driving factor for Copper prices in the near term
Nirmal Bang has come out with its report on metals & energy. According to the research firm, one can short gold between Rs 29800-29900 with a stop loss above Rs 30150 for the target price of Rs 29400-29300.
According to Nirmal Bang Gold prices are expected to test Rs 26900-26950 levels on higher end. One can buy around Rs 26650-26600 maintaining a stop loss below Rs 26400.
Nirmal Bang has come out with its technical report on metals & energy. One can buy Gold on dips around Rs 26500 with a stop loss of Rs 26380, says the research firm.
Even though political worries persist, Peter Hickson, Global Head of Commodity Research at UBS finds that the crude market is a safe bet because at some stage these issues will get addressed.
Goldman Sachs fell into line with other banks on Tuesday as it cut its 2012 Brent crude and copper price forecasts, on growing worries that the European financial crisis would restrain economic growth and curb global fuel demand.