In an interview to CNBC-TV18, Ritesh Gandhi, senior research analyst (Commodity & Currency) at Anand Rathi Commodities Limited gives his view on select commodities like crude and copper.
Ritesh Gandhi, senior research analyst of Anand Rathi Commodities says, the recent strength in crude should continue in short-term. “A test of about USD 110 per barrel for WTI and USD 126.50-127 per barrel for Brent crude is likely in the next few sessions,” he adds.
On the domestic front, Gandhi is looking at Rs 5,000 per barrel as a key resistance for crude. "If we see a rise above this level, we could be looking at gains in the days ahead," he added.
Gandhi said that crude prices would be dominated by situation in Iran.
Ritesh Gandhi, senior research analyst, Commodity & Currency at Anand Rathi Commodities in an interview to CNBC-TV18 gave views and outlook for commodities like gold and copper.
In an interview with CNBC-TV18, Ritesh Gandhi, Senior Research Analyst, Commodity & Currency, Anand Rathi Commodities analyses the commodities basket, in particular, copper, crude and silver.
Gold is back in favour and looks to be in the range of USD 1,740 per ounce on the lower side and about USD 1,800 per ounce on the higher side at the moment, said Ritesh Gandhi, senior research analyst of commodities and currencies at Anand Rathi Commodities.
Ritesh Gandhi, senior research analyst (Commodity & Currency), Anand Rathi Commodities maintains a bearish bias on oil as the International Energy Agency (IEA) has reduced their demand growth forecast.
Talking about the intense selling pressure that is almost paused the gold rush, Jonathan Barratt of Commodity Broking Services says, he see liquidation all across the commodity space. Ritesh Gandhi of Anand Rathi Commodities expects crude prices to slip lower to about USD 75 per barrel for the WTI.
Ritesh Gandhi, senior research analyst (commodity and currency) of Anand Rathi Commodities still maintains his bullish bias on gold. “We believe that if USD 1,700 per ounce holds out, which is the immediate short-term support, we could be looking at a pullback to USD 1,800-1,810 per ounce levels.”
In an interview with CNBC-TV18, Ritesh Gandhi, Anand Rathi Financial Services said, he will maintain his bullish stance on gold at the moment. “With prices on the fresh high this morning, we do believe this rally can now extend towards USD 1,635 to USD 1,640 an ounce in the short-term.
Ritesh Gandhi, Senior Research Analyst, Commodity & Currency at Anand Rathi Commodities gave his views on the metal space.