Edible oils are seeing a big decline for the second day in a row. Due to weak signals from the global market and the government’s strictness on prices in the domestic market, pressure is being seen on oil-oilseeds. CPO, soya oil, mustard all have broken around 2-2%.
Here, the rule of gold hallmarking will be applicable from tomorrow. Jewelers will be able to sell only hallmarked gold ornaments. Only 22, 18 and 14 carat jewelery will be sold. Transparency will increase in the jewelery market.
Gold and silver have lost their luster due to the strengthening of the dollar. On Comex, gold has slipped below $ 1860. Hedging on inflation eased. Price is at discount in India and China. The market is eyeing the US-Fed meeting.
Base metals are under pressure from a firm dollar. On MCX, copper is weak by about half a percent, but there is a slight buying in zinc, nickel and lead. Due to the closure of markets in China and Hong Kong, metals also saw a sluggishness.
Investment advice by Prathamesh Mallya of Angel Broking
SELL MCXBULLDEX JUNE 15110 SL- 15230, TARGET – 14900
SELL GOLD AUG 48530, SL – 48740, TARGET – 48200
SELL SILVER JULY 71600, SL – 72300, TARGET – 70500
BUY CRUDE OIL JUNE 5190, SL- 5130, TARGET – 5280
SELL COPPER JUNE 748, SL- 751, TARGET – 743
Investment Advice by Vandana Bharti of SMC Comtrade
SELL JEERA JULY 13650 TGT 13400 SL 13800
SELL COCUD JULY 2850 TGT 2780 SL 2895
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