The Dec contract on MCX for crude can be bought on dips to Rs 4,700 per barrel with a stop loss at Rs 4,650 per barrel and target of Rs 4,825 per barrel, said Comm Trendz Research & Fund Management's T Gnanasekar. Gold having reached an unmarked territory, PJ Commodity Ventures' Shreekant Jha said that the next target is Rs 29,000 per 10 gram.
Tracking a weak trend in overseas markets, silver prices declined by Rs 148 to Rs 61,015 per kg in futures trade today on reduced offtake by speculators.