Gold has not touched previous low of USD 1180 per ounce and higher lows have been formed. It is probably indicating some selling exhaustion and that could indicate upside, commodity expert, NS Ramaswamy, Ventura Commodities said.
Ventura Commodities expect July MCX contract to see levels close to Rs 6,100-6,120 per barrel with a stop loss of Rs 6,010 per barrel.
Ventura Commodities has come out with its technical outlook on commodities. According to the research firm, one can buy MCX Copper August contract in the range of Rs 416-416.30 for the target price of Rs 434-440 with a stoploss of Rs 403.
NS Ramaswamy of Ventura Commodities believes that the US consumer confidence data or the housing data is building up more pressure on the bullion pack.
NS Ramaswamy of Ventura Commodities expects a rebound in gold and silver prices from present levels.
NS Ramaswamy, head commodities, Ventura Commodities says he expects the range in gold prices to be between USD 1410 and USD 1485. given the fact that the G7 meeting is being held in UK and also the way the trade deficit has narrowed in US, these factors are probably giving a bit of support for dollar and then weakness in gold is expected.
Ventura Commodities has come out with its special report on natural gas. The oil and gas industry have suggested that natural gas prices could rise sharply in coming years, says the research firm.
In an interview to CNBC-TV18, NS Ramaswamy, Head Commodities at Ventura Commodities spoke about recent trends in commodity markets and shared trading strategies on gold and crude.
NS Ramaswamy, Head CRM & Commodities at Ventura Commodities recommends buying gold and silver around current levels. He says, "Today we expect gold to see levels of Rs 29,720 per 10gm to probably close to Rs 29,850 per 10gm with a stop loss of Rs 29,400 per 10gm". He also suggests selling copper and nickel on an intraday basis.
Ventura Commodities has come out with its special report on Nickel. The research firm says in the medium-term; expect Nickel prices to remain range bound, in Rs. 840-1150 range for 2013.
In an interview to CNBC-TV18 N S Ramaswamy of Ventura Commodities shared his reading and outlook on commodities. He expects bearishness to continue in the bullion pack. He gives his strategies on gold, silver and crude
As gold prices rose to Rs 31,689 per 10 gm in futures trade today, N S Ramaswamy, Head CRM & Commodities, Ventura Commodities is expecting gold to show some rangebound trade with positive bias. He says, "the long side is preferred with a stop loss of close to Rs 31,460 per 10gm or Rs 31,450 per 10gm."
Ventura Commodities has come out with its special report on Crude oil. According to the research firm, Oil markets should continue to swing between tight supply concerns and slowing global demand as Crude prices are expected to move lower this unless Middle East tensions escalate.
Ventura Commodities has come out with its special report on Gold. According to the research firm, demand for gold jewellery in India is expected to be lower than usual this year because the price of gold in Indian rupees has moved sharply higher.
Ventura Commodities has come out with its report on Jeera. As per the research firm, exports are expected to jump 29 per cent in 2011-12, and scale up to 19 per cent in the coming financial year that begins in April, according to trade and industry forecast.
Crude prices tumbled 6% after the International Energy Agency announced it would inject 60 million barrels of government-held stocks in the global market, immediately increasing world supply by some 2.5% for the next month.